Enlight Renewable Energy has secured $773 million in debt financing to advance the construction of the 403 MW, 688 MWh County Acres Clean Power project near Sacramento, California.

The funding package consists of construction loans from four major global banks—BNP Paribas Securities, Crédit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale—obtained through Enlight’s U.S. subsidiary, Clēnera Holdings. The project is expected to become operational in the latter half of 2026, at which point the construction loan will convert into a $376 million term loan, according to Enlight.

Innovative Busbar PPA with SMUD

The project will supply clean energy to the Sacramento Municipal Utility District (SMUD) under a long-term power purchase agreement (PPA). County Acres Clean Power has a 30-year busbar PPA for its solar generation and a 20-year busbar PPA for its energy storage.

A busbar PPA differs from traditional agreements by transferring operational responsibilities at the project's interconnection point, known as the busbar. Under this structure, the seller delivers power up to the interconnection point, with any risks related to grid fluctuations beyond that point becoming the buyer’s responsibility.

“Projects like this will help us meet our aggressive clean energy goals while supporting the local economy,” SMUD stated.

Economic and Environmental Benefits

SMUD estimates the project will generate more than $41 million in community benefits and create approximately 360 jobs during construction. Once operational, the project is expected to contribute $3.7 million annually to the local economy and $15 million in economic value to California each year.

Located on 966 acres of leased private land in southwestern Placer County, County Acres Clean Power will integrate sustainability-focused land management practices. Enlight plans to utilize grazing animals, likely sheep, for vegetation control and establish a pollinator-friendly habitat featuring native grasses, clover, herbaceous hedgerows, and California poppies.

Enlight’s Expanding U.S. Footprint

Clēnera, Enlight’s U.S. subsidiary, has 1.5 GW of renewable projects either in operation or under construction. According to Enlight, its U.S. revenue is projected to reach between $195 million and $207 million annually once these projects become fully operational.

Founded in 2008, Israel-based Enlight Renewable Energy develops, finances, constructs, owns, and operates large-scale renewable energy projects. The company generates revenue through long-term PPAs and went public in 2023.

Originally reported by Rachel Matea in PV Magazine.