Enlight Renewable Energy has obtained approximately US $1.44 billion in debt financing for its Snowflake A solar-and-storage project near Holbrook, Arizona. The development combines 600 MW of solar generation with 1,900 MWh of energy storage and moves toward commercial operation in the second half of 2027. Furthermore, the project secures a 20-year busbar agreement with Arizona Public Service (APS), which strengthens predictable cash-flow for the build and operational phases.
The financing package was provided by a consortium of six major global banks including Wells Fargo Bank, N.A., BNP Paribas, Natixis, Nord/LB, Crédit Agricole and MUFG Bank, Ltd. Enlight expects to secure tax-equity investment during 2026, and structure the debt such that part converts to a term loan post-commercial-operation while the remainder is paid via tax-equity proceeds.The first full year after commercial operation is forecast to generate roughly US $128 million revenue and US $104 million EBITDA.
Project Factsheet
Developer: Enlight Renewable Energy Ltd
U.S. subsidiary: Clēnera Holdings
Location: Near Holbrook, Arizona, USA
Capacity: 600 MW solar + 1,900 MWh energy-storage
Debt-financing committed: ~US $1,438 million from six banks
Offtake: 20-year busbar PPA with Arizona Public Service (APS)
Target commercial operation: Second half of 2027
Estimated new homes served: ~110,000 Arizona homes once operational
Significance of the Project
From a construction-industry perspective, Snowflake A represents a large-scale industrial build involving major civil, structural, mechanical and electrical scopes. Contractors will engage in site-preparation works, large foundations for solar arrays and storage systems, modular equipment installation and utility-scale grid-interconnect overhead systems. Because of the energy-storage component, the project adds complexity. Additional requirements include specialized foundations, fire-protection systems, battery-containment design and high-capacity AC/DC conversions.
For the supply chain, the committed debt financing and long-term PPA reduce revenue risk, making subcontracting opportunities more robust and accessible. A similar momentum can be seen with Florida’s largest floating solar infrastructure led by D3Energy, demonstrating how advanced renewable technologies are expanding into new environments such as water-based installations. Additionally, for contractors in Africa, Asia and emerging markets, this project offers transferable lessons: how to deliver utility-scale solar-plus-storage plants, manage large-bank financing, and undertake next-gen energy-infrastructure builds. Finally, Snowflake A also signals the increasing value of integrated solar-and-storage infrastructure as part of national grids—disciplined construction firms that can execute at scale may position themselves well for the next wave of global renewable-energy developments.
