: Enlight Renewable Energy Ltd. secured $773 million in debt financing for its Country Acres project near Sacramento, California. The project includes 403 MW of solar generation and 688 MWh of energy storage, expected to be fully operational in the second half of 2026. The financing involves a consortium of banks, including BNP Paribas, Crédit Agricole, Natixis, and Nord/LB.
The project has a 30-year solar PPA and a 20-year energy storage purchase agreement with the Sacramento Municipal Utility District (SMUD). Construction has commenced on the 966-acre site, with all procurement contracts finalized. The project aims to power approximately 80,000 California households.
China's energy storage sector is projected to become a global leader by 2027, driven by technological advancements and government support. China plans to cultivate 3-5 leading energy storage enterprises by 2027. As of the end of 2024, China's installed energy storage capacity reached 73.76 million kilowatts, a 130% increase from 2023.