The Atrisco Solar & Storage hybrid complex, developed by Enlight Renewable Energy and its US subsidiary Clenera, is now fully operational. Located near Albuquerque, New Mexico, this flagship project combines a solar capacity of 364 MW with a 1.2 GWh battery energy storage unit, addressing growing needs for flexible and sustainable energy solutions.
The solar unit had reached its full commercial capacity as of October 2024. The storage unit, commissioned in late November, allowed the project to be completed in its entirety, meeting financial and operational objectives. On December 13, 2024, the construction financing was converted into a term loan, supplemented by tax equity proceeds.
Cost Optimization and Financial Performance
The Atrisco project reduced its total net cost to $397 million, achieving savings of $10 million compared to initial estimates. This complex operates under a 20-year Power Purchase Agreement (PPA) with Public Service Company of New Mexico (PNM), ensuring annual revenues estimated between $51 and $55 million and an expected EBITDA between $41 and $45 million in its first full year of operation.
Atrisco is now the largest solar-battery project ever undertaken by Enlight and Clenera, consolidating their position in the North American hybrid energy sector.
A Model for Future Projects
Building on this success, Enlight and Clenera have launched the construction of three other hybrid complexes in the Western United States: Country Acres, Roadrunner, and Quail Ranch. Together, these projects will deliver a total solar capacity of 810 MW and over 2 GWh of energy storage, with combined projected annual revenues of $132 to $141 million.
Ilan Goren, General Manager of Enlight US, emphasized the strategic importance of these projects: “Quail Ranch, an extension of Atrisco, will leverage existing infrastructure to maximize synergies. These initiatives illustrate our ‘Connect and Expand’ strategy, where every grid connection serves as a foundation to increase production capacity.”
