Enlight Renewable Energy secured $2.6 billion in debt financing for its CO Bar Complex in Arizona. A consortium of seven global institutions, including BNP Paribas, MUFG Bank, and Wells Fargo, provided the funding. This transaction represents the largest financing deal in the company’s history.
The CO Bar Complex comprises five projects totaling 1.2 GW of solar power and 4.0 GWh of energy storage. Total investment for the flagship U.S. project is estimated at $3 billion. Salt River Project and Arizona Public Service have fully contracted the output through long-term agreements.
The complex is projected to generate $250 million to $260 million in revenue during its first full year of operation. Construction on the initial phases is currently underway. Commercial operations will begin in stages between the second half of 2027 and the first half of 2028.