ENLTF - Enlight agrees to buy 90% stake in Cl?nera for $433M

Enlight (ENLTF) through a wholly-owned U.S. subsidiary, has agreed to buy ~90% equity stake in US solar and storage developer Cl?nera, for $433M, , while Cl?nera's founders, Jason Ellsworth and Adam Pishl will retain 10% of Cl?nera's shares.The consideration will be divided between upfront payments of $158m, and future performance-based payments.Cl?nera is based in Boise, Idaho and is now actively developing a portfolio of 12 GWdc solar and 5.5 GWh of energy storage in 20 states.The deal is expected to expand Enlight's development portfolio to over 16 GWdc of solar and wind, and 7.5 GWh of energy storage in 11 countries.The combination of Enlight's international development and execution expertise and Cl?nera's successful US development capabilities will result in substantial success in the growing US market.

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Enlight agrees to buy 90% stake in Cl?nera for $433M