Highlights

  • FY25 revenue jumps 46% to $582m; net income surges 142%.
  • 2026 revenue guidance set at $755m–$785m with strong EBITDA growth.
  • Mature portfolio expands 33% year over year.
  • Storage capacity emerges as a key long-term growth engine.

Enlight Renewable Energy Ltd (NASDAQ:ENLT) closed 2025 with a sharp acceleration in both profitability and cash generation, underscoring the scale benefits of projects moving from development into operation.

Annual revenue reached $582 million, rising 46% year over year, while net income climbed 142% to $161 million. Adjusted EBITDA increased 51% to $438 million, reflecting improved operating leverage as more assets began contributing to earnings.

The fourth quarter continued the trend, with revenue up 46% and net income more than doubling, signaling sustained momentum rather than a one-off spike.

2026 Outlook Signals Another Growth Cycle

Management expects the expansion phase to continue, guiding for $755 million to $785 million in revenue and $545 million to $565 million in adjusted EBITDA in 2026.

The forecast is supported by high revenue visibility, with roughly 90% of expected electricity generation locked in through fixed-price agreements or hedges, providing insulation from power price volatility.

At the same time, 1.1 FGW of new capacity is scheduled for commissioning during the year, while construction is set to begin on projects totaling up to 4 FGW, significantly increasing the forward earnings base.

Storage Becomes the Core Growth Engine

A defining feature of the year was the rapid expansion of energy storage, which more than doubled within the mature portfolio.

This shift is strategic. Storage enhances grid flexibility, improves project returns and allows the company to capture value beyond pure generation — positioning it to benefit from rising global electricity demand and the transition to round-the-clock renewable supply.

Portfolio Scale Drives Long-Term Revenue Visibility

Enlight’s total portfolio has grown to 38 FGW, with the mature segment — the main near-term revenue driver — expanding 33% year over year.

As projects currently under construction and pre-construction move into operation, the company expects its operating capacity to reach 12–13 FGW by 2028, supporting an annual revenue run rate of $2.1–$2.3 billion.

CEO Signals Strong Execution Momentum

Chief Executive Officer Adi Leviatan said the company is entering 2026 with “meaningful growth and strong execution momentum,” driven by faster construction cycles, diversified geographic exposure and rising global power demand.

Capital Strength Supports Expansion

During 2025, Enlight secured $1.4 billion in project finance, additional tax equity funding, new debt facilities and fresh equity capital — ensuring liquidity for its multi-year buildout while maintaining financial flexibility.

Shares of ENLT last traded at USD 64.865 on February 13, 2026.