Enlight Raises 2026 Revenue Forecast to $830 Million on Strong Q3 Results
Enlight Renewable Energy reported a robust third quarter, raising its 2026 revenue forecast to $810-830 million amid soaring demand from AI data centers and expanded operations in Israel and globally.
Enlight Renewable Energy, a prominent firm traded on the Tel Aviv 35 Index, reported a remarkably robust third quarter, prompting the company to raise its annual revenue forecast for 2026 for the second consecutive time to a range of between $810 million and $830 million. Simultaneously, the company demonstrated a substantial expansion in its electricity supply operations within Israel.
Third-quarter revenues surged by 40% compared to the corresponding period last year, reaching $231 million. During the first three quarters of the year, revenues accelerated by 49% to $641 million. Consequently, the annual revenue outlook was revised upward to $810-830 million, comfortably exceeding the initial guidance issued at the beginning of the year, which stood at $755-785 million.
Surging Demand and Profitability
The impressive performance is supported by immense demand for accessible and affordable electricity, driven in part by the artificial intelligence revolution and the unprecedented energy needs of data centers. On the profitability front, net income experienced a moderate rise from $32 million in the previous year's quarter to $34 million, tempered by one-time loan recycling revenues recorded last year. Excluding this item, quarterly net profit jumped by 72%.
Enlight's electricity trading activity in Israel more than doubled compared to last year, generating approximately $56 million in the third quarter and $114 million year-to-date. Roughly 40% of these revenues stem from electricity generated by Enlight's own facilities, driven by a growing customer base and robust summer demand, albeit characterized by lower profit margins.
Global Expansion and Strategic Outlook
On the global development front, Enlight announced a grid connection approval for a massive solar project in Virginia, encompassing 600 megawatts of solar capacity and 2,000 megawatt-hours of storage. Furthermore, the company is expanding its footprint in European energy storage, establishing centers in Germany, Poland, Finland, and Romania, capitalizing on elevated energy prices driven by blocked gas imports from Russia and Qatar.
Looking ahead to 2028, Enlight maintains its ambitious revenue target of exceeding $2.2 billion, anchored by the maturation of mega-projects primarily based in the United States. With a cash reserve of roughly $420 million and 86% of its debt carrying fixed interest rates, the company continues to provide investors with strong cash flow visibility and a fortified balance sheet.
