Enlight Secures $310M for Spain's Largest Hybrid Renewable Project

Enlight Renewable Energy has secured approximately $310 million in financing to expand its Gecama Wind Project in Spain into the country's largest hybrid renewable energy complex, integrating wind, solar, and utility-scale battery storage. The hybrid project will increase capacity to 554 MW and 220 MWh and is expected to begin commercial operations in the second half of 2026, significantly boosting annual revenues and EBITDA. This development is among the first in Spain to deploy utility-scale battery storage at such scale, which will enhance grid stability by providing services like frequency response and peak shifting, a critical advancement following widespread blackouts in Spain in April 2025. The integration of complementary renewable technologies aims to deliver continuous clean electricity at a competitive cost, aligning with Spain's national plan to combat climate change and improve energy supply reliability. Financing is structured with a fixed interest rate of around 5.1%, covering both refinancing and new construction, and analysts maintain a positive outlook on Enlight's financial prospects. This project is poised to play a key role in advancing Spain's energy storage infrastructure and renewable energy landscape.