Enlight Renewable Energy Ltd · TASE:ENLT
Enlight Renewable Energy — Investor Presentation (May 2025)
23 slides from Enlight Renewable Energy's investor presentation, May 2025
Slide 1: Investor Presentation May 2025
INVESTOR PRESENTATION May 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., 33.4 FGW3 por
Slide 4: Achieving ~3X growth every 3 years in the past decade
Achieving ~3X growth every 3 years in the past decade Founder mentality, market innovation and business discipline 6.6 FGW successfully developed2,4 62 quarters as a public company 2023 Raising $271 Expansion across major global markets 2020-2021 million in an IPO Innovative on Nasdaq 2021 deploymen
Slide 5: Proven track record of achieving our growth potential
Proven track record of achieving our growth potential Shareholders Equity ($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 8.6 FGW with 33.4 FGW pipeline
Mature portfolio of 8.6 FGW with 33.4 FGW pipeline $490-$510m 2025 revenues & Operational income guidance 3 FGW1 8.6 FGW Under construction ~$305m Components Commence operations Revenues & income of the Mature in 2025-26 1.8 FGW Portfolio Pre-construction ~$615m Begins construction in the 3.8 FGW Re
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 3.7 GW + 6.9 GWh across 10 European countries Projects maturity 1.6 GW + 1.3 GWh of mature projects United States Renewables gaining 3.8 GW + 6.
Slide 11: Diversification reduces exposure to volatility
Diversification reduces exposure to volatility Expected structure of mature portfolio in 2027 10% 22% 29% 10% Tech Geo Rev. 53% 11% Structure 8.6 FGW1 12% 8.6 FGW1 8.6 FGW1 66% 69% 18% Fixed PPA Linked PPA PV Wind Storage USA MENA Europe Merchant To be signed …that has been strategically de-risked B
Slide 12: Reaching an annual revenues & income run rate of $1.4bn by 2027
Reaching an annual revenues & income run rate of $1.4bn by 2027 Projected revenues & income run rate1,2 Weighted average of Enlight’s share of revenues and income $m ~1,420 42% CAGR 92% ~805 CoBar Complex Snowflake Nardo Storage ~645 86% ~500 Gecama Solar Roadrunner 85% Atrisco Country Acres 77% Qua
Slide 13: Projects planned for the next two years expected to generate high returns
Projects planned for the next two years expected to generate high returns Average historic return on operating assets (3 FGW) is 15% Under construction and pre-construction projects (5.6 FGW) continue to generate high returns before leverage: ~$470m First year expected EBITDA1 11-12% = Unlevered pro
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 Year3 First Year3 $61-62m / $45-46m
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 26 MW + 292 MWh Status Pre
Slide 16: Advanced grid connection status for 10 GW of projects
Advanced grid connection status for 10 GW of projects Enlight US Transmission infrastructure is the principal constraint for renewable energy today Mature Phase Development Projects Advanced Phase Phase 3.8 GW + 2.9 GW + 2.9 GW 100% of U.S 100% of U.S 45% of U.S Mature Phase Advanced Phase Developme
Slide 17: Creating long term growth through connect and expand development strategy
Creating long term growth through “connect 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 transm
Slide 18: High growth in 1Q25 revenues and profits
High growth in 1Q25 revenues and profits 1Q25 vs 1Q24, $m 39% 84% 24% 316% Sale of 44% of the Sunlight cluster contributed $42m Sale of 44% of the Sunlight cluster 130 132 contributed $80m 102 94 72 44 35 24 1Q 24 1Q 25 1Q 24 1Q 25 1Q 24 1Q 25 1Q 24 1Q 25 Revenues Adjusted Cash flow from Net income
Slide 19: 2025 Guidance
2025 Guidance Revenues & Income of $490-510m; Adjusted EBITDA of $360m-$380m Principle Assumptions Operational Portfolio / FGW* Revenue / ($m) Adjusted EBITDA1 / ($m) Foreign exchange rates are based on 2025 forward3 curves, 3,025 490-510 implying 3.55 for USD/ILS and 49% 1.05 for EUR/USD. 61% CAGR
Slide 20: Appendix
@nlight Appendix
Slide 21: Mature portfolio of 6.1 GW & 8.8 GWh with 19.2 GW & 49.8 GWh pipeline
Mature portfolio of 6.1 GW & 8.8 GWh with 19.2 GW & 49.8 GWh pipeline Generation, Storage, Graph, MW MWh scale Portfolio definitions Mature Phase Operational, under construction and pre-construction + + (expected to start construction within 12 months) + 9,706 28,396 19,174 49,835 Advanced Projects
Slide 22: Reconciliation between Net Income to Adjusted EBITDA
Reconciliation between Net Income to Adjusted EBITDA ($ thousands) For the three months ended March 31, 2025 March 31, 2024 Net Income (loss) 101,803 24,485 Depreciation and amortization 33,789 25,604 Share based compensation 1,710 3,117 Finance income (6,695) (8,065) Finance expenses 30,203 19,493
Slide 23: Thank You
Thank You Gnilight 22
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