Enlight Secures $243M for New Mexico Solar-BESS Project

• Enlight secures $243M for Quail Ranch solar-plus-storage, boosting New Mexico's clean energy goals with 128 MW of sustainable power.

Israeli renewables developer Enlight Renewable Energy Ltd has secured USD 243 million in construction financing for its Quail Ranch solar-plus-storage project in New Mexico. The project, with a capacity of 128 MW, combines solar power generation with battery energy storage systems (BESS) to enhance energy reliability and efficiency.

The financing marks a significant milestone for Enlight as it expands its renewable energy footprint in the United States. The Quail Ranch project is expected to contribute to New Mexico's clean energy goals and support the transition to sustainable energy sources. Construction is set to commence soon, with completion anticipated in the near future.

How will Enlight's Quail Ranch project impact New Mexico's clean energy goals?

• Increased Renewable Energy Capacity: The Quail Ranch project will add 128 MW of solar power to New Mexico's energy grid, significantly boosting the state's renewable energy capacity.
• Energy Storage Integration: By incorporating battery energy storage systems (BESS), the project will enhance grid reliability and efficiency, allowing for better management of energy supply and demand.
  
• Progress Towards Renewable Targets: The project supports New Mexico's goal of achieving 100% carbon-free electricity by 2045, as outlined in the state's Energy Transition Act.
• Economic Benefits: The construction and operation of the Quail Ranch project will create jobs and stimulate economic growth in the region, contributing to local development.
• Reduction in Carbon Emissions: By replacing fossil fuel-based energy with solar power, the project will help reduce greenhouse gas emissions, contributing to cleaner air and a healthier environment.
• Technological Advancement: The integration of advanced solar and storage technologies positions New Mexico as a leader in innovative renewable energy solutions.
• Energy Independence: Increasing the share of locally produced renewable energy reduces reliance on imported fossil fuels, enhancing energy security for New Mexico.