Profit Surge and Giant Google Contract: Enlight Shares Jump 8% as 2026 Forecasts Are Raised

Enlight, one of the largest Israeli renewable energy companies, is surging on the stock exchange today following the publication of an exceptionally successful second-quarter report. The results include a five-fold increase in net profit compared to the same quarter last year, alongside a dramatic rise in revenues. This performance is driven by the rapid development of solar projects and the strategic utilization of tax benefits. Consequently, Enlight is upgrading its 2026 forecast, with the previous maximum now serving as the new minimum.

Enlight's net profit for the second quarter reached 31 million dollars, a significant jump from the 6 million dollars recorded in the second quarter of last year. Revenues also surged by 55% to 210 million dollars. The company successfully completed the "Safe Harbor" process for US solar projects ahead of schedule. Under the economic legislation passed by the Trump administration, tax benefits for solar production were reduced, yet Enlight secured these incentives for a large portion of its projects slated for construction by July 4, 2026, or grid connection by the end of 2027.

Currently, 38% of projects under development and 91% of projects in advanced development have secured these tax benefits. Revenue from electricity sales rose by 43%, while revenue from tax benefits more than doubled, climbing from 18 million dollars to 44 million dollars.

Upgraded Growth Forecast

Comparing the first half of 2026 to the same period in 2025, the company recorded a 55% increase in revenue and a 38% rise in adjusted EBITDA. As a result, Enlight is significantly upgrading its year-end 2026 forecasts: the previous revenue ceiling of 785 million dollars has become the new floor, with the upper limit updated to 820 million dollars. For comparison, Enlight's 2025 revenues stood at 582 million dollars. The company expects to reach a revenue run rate of over 2.2 billion dollars by 2028.

Enlight continues to focus on rapid development, with construction and development expenses reaching 723 million dollars in the last quarter. To support this, the company secured 610 million dollars in bank financing, bringing the total loan-based cash flow for the first half of the year to nearly 1.4 billion dollars.

Google Contract and Global Expansion

Enlight has signed a 15-year electricity supply agreement with Google for its storage assets in the southwestern US, with commercial operation expected in 2029. Additionally, the company closed financing for the 1.2-gigawatt CO-BAR project in Arizona. Enlight is also entering the Romanian and Finnish markets and is initiating server farm projects with adjacent energy sources, which will consume over 2 gigawatts of electricity.

CEO Adi Levitan stated: "We are concluding another quarter of significant growth across all parameters. Our first-half performance and project progress allow us to raise our 2026 revenue and adjusted EBITDA forecasts. Amid growing electricity demand, Enlight is in the strongest position in its history, allowing us to accelerate our growth."