Enlight Renewable Energy Ltd · TASE:ENLT
Enlight Renewable Energy — Investor Presentation (August 2025)
23 slides from Enlight Renewable Energy's investor presentation, August 2025
Slide 1: Investor Presentation August 2025
INVESTOR PRESENTATION August 2025
Slide 2: Legal disclaimer
Legal disclaimer This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure intend suc
Slide 3: Enlight at a glance
Enlight at a glance Next generation global renewable energy platform Greenfield developer & IPP Extensive track record Control over entire project life 69% CAGR revenues1 cycle 45% CAGR Mature Project capacity1,2 Global platform Large and diverse portfolio Growing activity across U.S., 35.3 FGW3 por
Slide 4: Achieving ~3X growth every three years in the past decade
Achieving ~3X growth every 3 years in the past decade Founder mentality, market innovation and business discipline 7.7 FGW successfully developed2,4 63 quarters as a public company 2025 Massive growth: 2023 4.8 FGW under Expansion across major global markets Raising $271 construction & 2020-2021 mil
Slide 5: Proven track record of achieving our growth potential
Proven track record of achieving our growth potential Shareholders Equity ($m) Revenues ($m) 1,435 1,441 399 41% 1,050 67% CAGR CAGR 256 757 192 512 388 102 75 165 56 21 252.5 133 11 2017 2018 2019 2020 2021 2022 2023 2024 2017 2018 2019 2020 2021 2022 2023 2024 Founded Countries Market Return on in
Slide 6: A business environment rich in opportunities
A business environment rich in opportunities Data centers and EVs are the main drivers of accelerating US electricity demand growth Renewables are the dominant source of supply for growing demand, comprising 95% of the US project queue Power prices in the US and Europe remain high, reflecting scarci
Slide 7: A clear and focused business model which creates strategic differentiation
A clear and focused business model which creates strategic differentiation Faster growth and higher returns over the long term Proven entrepreneurship Unique business model and ability to execute Developer & IPP Differentiation in Differentiation in technological diversity geographic diversity Speci
Slide 8: Differentiated business model combines greenfield developer and IPP
Differentiated business model combines greenfield developer and IPP Global presence enhances Low cost of capital is a supply chain access competitive advantage Project Engineering Construction Asset Finance Sourcing & Procurement Management Management Greenfield development & Delivering projects on
Slide 9: Mature portfolio of 9.2 FGW expected to generate $1.5bn of revenues & income
Mature portfolio of 9.2 FGW, is expected to generate $1.5bn of revenues & income $520-$535m 2025 revenues & Operational 3.1 FGW1 income guidance ~$1.5 billion Expected revenues Under construction 2.9 FGW ~$550m & income of the Commence operations in 2025-26 Revenues & income Mature portfolio Pre-con
Slide 10: Global renewable platform in the right markets at the right time
Global renewable platform in the right markets at the right time Europe Regional energy crisis Renewables the key to energy security Pan European footprint 3.8 GW + 7.8 GWh across 10 European countries Projects maturity 1.6 GW + 1.9 GWh of mature projects United States Renewables gaining 3.8 GW + 6.
Slide 11: Diversification reduces exposure to volatility
Diversification reduces exposure to volatility Breakdown of Enlight’s 9.2 FGW1 Mature Portfolio 10% 24% 32% 10% 9% Rev. Tech 51% Geography Structure 15% 61% 71% 17% Fixed PPA Linked PPA PV Wind Storage USA MENA Europe Merchant To be signed …that has been strategically de-risked Balanced technology e
Slide 12: Expected to reach ARR of $1.4bn by the end of 2027
Expected to reach ARR1 of $1.4bn by the end of 2027 with rising share of ownership Annual recurring revenues & income run rate Global operating capacity roadmap2,3 (FGW) Weighted average of roadmap1,3,4 ($bn) Enlight’s share of revenues and income 40% 42% 11-13 1.9-2.2 CAGR CAGR Mature Mature portfo
Slide 13: Sustaining a 3x growth rate every three years with returns above 15%
Sustaining a 3x growth rate every three years with returns above 15% Average historic return on operating assets (3.1 FGW) is above 15% Under construction and pre-construction projects (6.1 FGW) maintain high returns: ~$500m First year expected EBITDA1 11-12% = Unlevered project returns ~$4,250m Exp
Slide 14: U.S. construction and pre-construction projects
U.S. construction and pre-construction projects: Enlight US Large capacity and high returns Country Acres Roadrunner Location California Location Arizona Capacity 403 MW + 688 MWh Capacity 290 MW + 940 MWh Status Under Construction Status Under Construction First Year First Year $61-63m / $44-46m $5
Slide 15: Europe and MENA: Pre-construction & under construction projects
Europe and MENA: Pre-construction & under construction projects Enlight Europe & MENA Continuing to expand presence across Europe and MENA with high return projects Gecama Hybrid Israel PV / Storage projects Location Spain Location Israel Capacity 225 MW + 220 MWh Capacity 21 MW + 1,223 MWh Status U
Slide 16: Advanced grid connection status for 18.8 FGW of U.S. projects
Advanced grid connection status for 18.8 FGW of U.S. projects Access and cost of infrastructure is the principal constraint for new electricity projects Mature Phase Development Projects Advanced Phase Phase 5.6 FGW + 5.1 FGW + 8.1 FGW 100% of U.S 100% of U.S 62% of U.S Mature Phase Advanced Phase D
Slide 17: "Connect & Expand" strategy maximizes interconnection potential and returns
“Connect & Expand” strategy maximizes interconnection potential and returns 3.7 FGW of expansions at existing Advantages of “Connect & Expand” projects planned for construction in 2025-27 Using existing Using existing infrastructure saves interconnect reduces construction costs development risks 0.3
Slide 18: 1H 2025: High growth rates in revenues & income and profits
1H 2025: High growth rates in revenues & income and profits 1H25 vs 1H24, $m 46% 71% 216% Sale of 44% of the Sunlight cluster contributed $42m 265 227 Results from changes in working Sale of 44% of the Sunlight cluster capital. Cash flow from contributed $80m 182 operations continues to grow 133 107
Slide 19: 2025 Guidance
2025 Guidance Revenues & Income of $520-535m; Adjusted EBITDA of $385m-$400m Principle Assumptions Operational Portfolio / FGW* Revenue / ($m) Adjusted EBITDA1 / ($m) • Foreign exchange rates are based 520-535 on 2025 forward3 curves 3.025 51% • Geographical revenues and 61% CAGR income distribution
Slide 20: Appendix
@nlight Appendix
Slide 21: Mature portfolio of 6.2 GW & 10.3 GWh with 20 GW & 53.4 GWh pipeline
Mature portfolio of 6.2 GW & 10.3 GWh with 20 GW & 53.4 GWh pipeline Generation, Storage, Graph, MW MWh scale Portfolio definitions Operational, under construction and pre-construction + + Mature Phase (expected to start construction within 12 months) 11,163 31,452 20,028 53,430 Advanced Projects wh
Slide 22: Reconciliation between Net Income to Adjusted EBITDA
Reconciliation between Net Income to Adjusted EBITDA ($ thousands) For the three months ended For the six months ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Net Income (loss) 5,569 9,459 107,372 33,944 Depreciation and amortization 37,228 25,282 71,017 50,886 Share based compensati
Slide 23: Thank You
Thank You Gnilight 22
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