Clēnera, an Enlight company (NASDAQ: ENLT, TASE: ENLT), announced that the Apex Solar project located in Beaverhead County, Montana began commercial operations on August 4, 2023. The start of commercial operations is an important milestone for the group, as it is the first joint project completed by Clēnera since Enlight acquired the Company in August 2021. Moreover, the project was delivered on schedule, highlighting the group’s continued focus on execution.
Apex Solar, which is an equivalent size to the largest solar project in Montana, is expected to make a significant contribution to the renewable energy mix in the state. The project is contracted to NorthWestern Energy under a 20-year power purchase agreement and is expected to generate carbon-free power equivalent to the annual consumption of 13,500 households.
“Apex Solar is now part of the diverse portfolio of generation resources serving our Montana customers,” said NorthWestern Energy Vice President Supply and Montana Government Affairs John Hines. “While our 24/7, on-demand generation resources, such as the Yellowstone County Generating Station and the Colstrip plant are absolutely necessary for NorthWestern Energy to help address our customers’ needs during critical weather, they are also necessary to balance the variable generation of sun and wind resources. We continue to focus on providing reliable, sustainable energy service to our Montana customers with diverse generation resources as we responsibly transition to an even cleaner energy future.”
In addition to Apex Solar, Clēnera is developing additional projects in Montana. This includes an Advanced Development project immediately adjacent to Apex, which leverages the same point of interconnection as Apex, under the Company’s interconnection-led “land and expand” strategy.
“We are pleased to reach this important milestone, delivering as per our previously announced schedule, and are excited to deliver increased access to affordable, clean renewable energy in Montana,” said Jason Ellsworth, CEO at Clēnera. “We look forward to a fruitful long-term relationship with community stakeholders including Beaverhead County, the City of Dillon and NorthWestern Energy, as we continue to develop additional renewable energy projects in the state.”
Gilad Yavetz, CEO at Enlight added: “Since the acquisition of Clenera, we are thrilled to witness the seamless integration and collaboration between our companies. The results achieved have exceeded all expectations and reinforce our belief in the power of this strategic partnership. Apex Solar, our first project to reach commercial operation in the U.S., is a testament to this partnership.”
The project is expected to add $25 million in tax revenue for Beaverhead County and over $5 million for the state. Bank of America and NORD/LB provided construction financing for the project and Huntington National Bank is providing long-term financing for the project.
