Enlight Raises 2026 Revenue Forecast Amid Strong Growth
Translated & summarized from Ice by baba
Renewable energy firm Enlight has raised its 2026 revenue forecast to $810-$830 million following a 40% revenue increase in the third quarter to $231 million. The company also saw a 38% rise in adjusted EBITDA and a 76% net profit jump excluding one-time items. Growth drivers include strong performance in Israel and Europe, expanded energy storage in Europe, and US data center demand. Enlight aims for $2.2-$2.3 billion in annual revenue by the end of 2028.
The story in 5 lines · by baba
- Enlight raised its 2026 revenue forecast to $810-$830 million after Q3 revenue grew 40% to $231 million.
- Third-quarter net profit was $34 million, with a 76% increase excluding one-time items.
- Electricity trading in Israel more than doubled, contributing significantly to revenue.
- The company is expanding energy storage in Europe and projects in the US.
- Enlight targets an annual revenue run rate of $2.2-$2.3 billion by end of 2028.
Renewable energy company Enlight reported a strong third quarter with a 40% year-over-year increase in revenue, reaching $231 million. Adjusted EBITDA grew 38% to $154 million, and net profit was $34 million, up from $32 million in the same period last year. Excluding one-time items, net profit saw a significant 76% jump. Cash flow from operations increased by 26% to $104 million.
The company has raised its 2026 revenue forecast for the second time this year, now projecting annual revenues between $810 million and $830 million, an increase from the previous $790 million to $820 million range. The adjusted EBITDA forecast was also revised upward to $575-$590 million from $565-$585 million. Enlight attributes these improvements to strong performance in the first nine months of the year, electricity trading activity in Israel, and high electricity prices in Europe.
For the first nine months of the year, Enlight's revenues rose 49% to $641 million, with adjusted EBITDA up 38% to $468 million. However, net profit decreased to $103 million from $140 million in the prior year. This decline is largely due to a $81 million profit recorded last year from the sale of a stake in Sunlight. Excluding this and other one-time items, net profit grew approximately 122%.
Electricity trading in Israel more than doubled its volume, generating about $56 million in revenue in the third quarter and $114 million in the first nine months, driven by an expanded customer base and high summer demand. The company's project pipeline under construction grew 26% to 5.6 GW, with an estimated annual revenue generation potential of $1.05 billion once fully operational.
Enlight has expanded its energy storage operations in Europe, adding projects in Germany, Poland, Romania, and Finland. In the US, five projects at the CO-Bar complex in Arizona are under construction, and a 500 MW project in Virginia has secured permits and grid connection. The company is also increasing its presence in the US Midwest and East Coast markets, fueled by growing electricity demand, particularly from data centers.
CEO Adi Levitan stated that the company is expanding its revenue-generating activities and advancing projects towards construction and operation. Enlight's business plan aims for an annual revenue run rate of $2.2 to $2.3 billion by the end of 2028.
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