Enlight Renewable Energy Secures Financial Close for Project Roadrunner in Arizona

Enlight Renewable Energy has successfully reached financial close for Project Roadrunner, a major solar and energy storage project near Tucson, Arizona. The project, with 290 MW of solar capacity and 940 MWh of energy storage, will play a key role in meeting Arizona's growing energy demand and advancing the state's renewable energy goals.

Located on 1,200 acres in the Sulphur Springs Valley, the site was chosen for its ideal solar conditions, ensuring optimal energy production. A 20-year Power Purchase Agreement (PPA) with Arizona Electric Power Cooperative guarantees a steady supply of clean energy, securing the project's financial stability and long-term sustainability.

With an expected revenue of $51-54 million annually and EBITDA of $41-44 million in its first year, Roadrunner will have a significant economic impact. The project is supported by a $550 million debt financing package led by four global banks, enabling accelerated development and reinforcing Enlight’s position as a leader in the clean energy sector.

Construction is underway, with commercial operations set to begin by late 2025. Roadrunner is a cornerstone of Enlight's U.S. expansion and will serve as a model for future renewable energy projects, advancing both environmental sustainability and economic growth across the nation.