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Powered up: Israeli renewables company Enlight Renewable Energy files for a $100 million US IPO

January 20, 2023

Enlight Renewable Energy, which operates wind and solar energy projects in Israel, Europe, and the US, filed on Friday with the SEC to raise up to $100 million in an initial public offering, though this may be a placeholder for a $200+ million deal. Enlight is currently listed on the Tel Aviv Stock Exchange (ENLT) with a market cap of $2.2 billion.

Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects, primarily generating revenue from the sale of electricity produced by its renewable energy facilities. The company operates in 11 countries on three different continents, and its global platform includes what it believes are some of the largest onshore wind and solar projects across the US, Western and Central & Eastern Europe, and Israel. As of November 22, 2022, Enlight's global portfolio included approximately 17.0 GW of multi-technology generation capacity and approximately 15.3 GWh of energy storage capacity.

The Rosh Ha'ayin, Israel-based company was founded in 2008 and booked $166 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol ENLT. Enlight Renewable Energy filed confidentially on July 25, 2022. J.P. Morgan, BofA Securities, Barclays, Credit Suisse, Nomura Securities, and WR Securities are the joint bookrunners on the deal. No pricing terms were disclosed.