Enlight Renewable Energy ( (IL:ENLT) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Enlight Renewable Energy shares moved higher after the company announced it is pushing ahead with full-scale construction of its CO Bar Complex in Arizona, a major U.S. growth project. The plan includes 1.211 GW of solar capacity and 4.0 GWh of energy storage built in five stages, supported by a 1 GW grid interconnection and 20-year storage offtake agreements with Salt River Project. With the entire project’s power output already contracted, investors see improved revenue visibility and long-term cash-flow potential for Enlight, helping to fuel the stock’s recent climb.
More about Enlight Renewable Energy
YTD Price Performance: 22.24%
Average Trading Volume: 48,085
Technical Sentiment Signal: Buy
Current Market Cap: $7.53B
For further insights into ENLT stock on TipRanks’ Stock Analysis page.
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