Enlight Renewable Energy Ltd · TASE:ENLT
Enlight Renewable Energy — Investor Presentation (August 2024)
21 slides from Enlight Renewable Energy's investor presentation, August 2024
Slide 1: Investor Presentation August 2024
INVESTOR PRESENTATION A u g u s t 2024
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 and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; intend s
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 cycle 71% CAGR revenues1 50% CAGR Mature Project capacity1,2 Global platform Large and diverse portfolio 20.7 GW + 33.2 GWh portfolio Growing activi
Slide 4: Key events and Mature MW growth
Achieving ~3X growth every 3 years in the past decade Founder mentality, market innovation and business discipline 4.2 GW + 1.9 GWh successfully developed2 59 quarters as a public company 2023 Expansion across major global markets 2020-2021 Raising $271 Innovative deployment million in an 2021 IPO o
Slide 5: Proven track record of achieving our growth potential
Proven track record of achieving our growth potential Shareholders Equity ($m) Revenues ($m) 1,435 256 49% 1,050 CAGR 192 69% CAGR 757 512 102 388 75 56 133 165 21 11 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 Founded Countries Market Unlevered in Present Cap IRR 2008 12 $
Slide 6: Promising business environment for Enlight
Promising business environment for Enlight Data centers and EVs are the main drivers of accelerating US electricity demand growth Renewables are the dominant source of supply for this demand, comprising 95% of the US project queue Average US PPA prices of $52 remain high, reflecting scarcity value o
Slide 7: What is unique about Enlight?
What is unique about Enlight? Control over entire project lifecycle from greenfield development to power generation maximizes project returns Global presence in the largest renewable energy markets across the U.S. and Europe Diversified portfolio across geography, technology and revenue structure de
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 5.4 GW and 5.9 GWh with extensive pipeline
Mature portfolio of 5.4 GW and 5.9 GWh with extensive 20.7 GW and 33.2 GWh pipeline Generation, Storage, Graph, MW MWh scale + 20,703 33,177 + + 2,868 4,054 5,393 5,935 + 535 1,447 + 1,990 434 0-12 months (Aug 07 ,2025) until start of construction Operational Under Pre-Construction Mature Total Cons
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 + 2.7 GWh across 8 European countries Near term upside 1.6 GW + 0.7 of mature projects United States MENA Renewables IRA a game changer j
Slide 11: Diversified mature portfolio reduces exposure to volatility
Diversified mature portfolio reduces exposure to volatility Diversity across technology, geography and revenue structure 5% 18% 15% 29% 54% Revenue Region Technology 17% Structure 5.4 GW 5.4 GW 57% 5.4 GW 63% 14% 28% MENA Europe US Solar Wind Solar+Storage Fixed PPA Linked PPA Merchant TAOZ (ISR) 2
Slide 12: Medium term picture: unique leadership position across interconnection
Medium term picture: unique leadership position across interconnection Transmission infrastructure is the principal constraint for renewable energy today Mature Projects Advanced Development Development 3.1 GW + 3.7 GW + 3.8 GW 100% of 100% of U.S 43% of U.S U.S Mature Advanced Development Developme
Slide 13: Creating long term growth through land and expand development strategy
Creating long term growth through “land and expand” development strategy Addressing transmission scarcity by leveraging existing large-scale interconnection assets to fuel expansion U.S.: CO Bar Europe: Gecama Israel: Genesis Wind 1.2 GW interconnection position in Leveraging Enlight owned transmiss
Slide 14: 2024 on plan: Atrisco expected to reach COD & three new flagship projects
2024 on plan: Atrisco expected to reach COD & three new flagship projects Combination of large-scale projects at high returns Country Acres Roadrunner RTB Location California Location Arizona Capacity 392 MW + 688 MWh Capacity 290 MW + 940 MWh Status Construction starts 2H24 Status Construction star
Slide 15: 2024 on plan: Diverse mix of new wind, solar and battery projects
2024 on plan: Diverse mix of new wind, solar and battery projects Continuing to expand presence across EU and Israel with high projected project returns Gecama Hybrid Location Solar, Spain Capacity 225 MW + 220 MWh Status Near Construction First Year $36-38m / $29-30m Revenues / EBITDA1 Unlevered Ra
Slide 16: 2024-2027 projects yield high returns
2024-2027 projects yield high returns Overlaying a 10.5% unlevered return with a 5.5-6.0% cost of debt Global Portfolio of 2024-27 CODs Mid-teens % 3.4 GW 5.5 GWh 10.5% Unlevered Mature Portfolio status: Ratio Equity Average levered IRR 0.5 GW + 1.5 GWh under Average unlevered construction return: r
Slide 17: Expected growth to continue apace in the coming years
Expected growth to continue apace in the coming years Massive growth into middle of decade: operational capacity expected to triple to 5.4 GW and 5.9 GWh by the end of 2027 2024 | Atrisco (364 MW, 1.2 GWh) Major Expected 2025 | Roadrunner & Quail Ranch (418 MW, 1.3 GWh) CODs 2026 | Gecama, CO Bar &
Slide 18: Strong results and growth in the first half of 2024
Strong results and growth in the first half of 2024 Growth driven by new operational projects and healthy production levels H1 2024 versus H1 2023 )m$( 175 +42% 124 126 -4% 1H23 boosted by decreased earnout, LD recognition and FX impacts 95 on financial income 95 91 +33% -39% 56 34 Revenue Adjusted
Slide 19: Growing and geographically diverse Mature Portfolio
Growing and geographically diverse Mature Portfolio Development Stage EU MENA U.S. 651 MW Operational 1,233 MW 106 MW 434 MWh Under 77 MW 364 MW Construction 94 MW 246 MWh 1,200 MWh Near 225 MW 54 MW 2,589 MW Construction 680 MWh 521 MWh 2,852 MWh 1,552 MW 782 MW 3,059 MW 555 MW Total Mature 680 MWh
Slide 20: Increasing 2024 Guidance: Revenues of $345-360m and Adjusted EBITDA of $245-260m
Increasing 2024 Guidance: Revenues of $345-360m and Adjusted EBITDA of $245-260m Operational Portfolio Revenue Adjusted EBITDA1 Raising guidance ranges )MW & MWh) ($m) ($m) Revenues: $345-$360m 345-360 up from $335m-$360m EBITDA1: $245m-$260m 2,431 MW + 51% up from $235-$255m 1,881 MWh CAGR 256 245-
Slide 21: Thank you
Prien Thank you
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