Enlight in advanced talks to acquire German renewable energy developer for hundreds of millions of euros
The Israeli energy company is seeking to expand its European footprint with a deal focused on Germany and Central Europe, following its acquisition of control of the Jupiter project earlier this year.
Energy company Enlight is set to significantly expand its operations in Europe. Calcalist has learned that the company, led by CEO Adi Leviatan and chaired by Gilad Yavetz, is in advanced negotiations to acquire a renewable-energy development company operating primarily in Germany in a deal worth hundreds of millions of euros.
The transaction is in an advanced stage, according to sources familiar with the matter. The company Enlight is seeking to acquire holds a large portfolio of projects, primarily in Central Europe, with Germany as its main market. If completed, the deal would significantly expand Enlight’s presence in Europe, particularly in the development of renewable-energy and storage projects.
The potential acquisition follows a major European transaction Enlight completed in January, when it acquired control of the Jupiter project. As part of that deal, Enlight acquired between 51% and 60% of the project, while Prime Capital AG, a German investment fund with which Enlight has an existing relationship and in whose funds it invests, retained the remaining stake.
Enlight is already active across a growing number of European markets, including Spain, Sweden, Germany, Croatia, Serbia, Ireland, Poland and Hungary. Finland and Romania have also recently been added to its footprint.
The company has pursued a similar expansion strategy in the United States. In 2022, Enlight acquired 90% of American renewable-energy developer Clenera for $390 million and used the company as the platform for its U.S. operations. At the time, Enlight did not acquire Clenera’s operating projects, instead focusing on projects in earlier stages of development, reflecting Clenera’s primary role as a project developer.
Enlight is currently valued at approximately NIS 36 billion ($12B), about 15% below its market value in May.
The company reported revenue of $409 million in the first half of 2026, up 55% from the same period a year earlier. Net profit was $69 million, compared with $107 million in the first half of 2025. The earlier figure, however, included profits from solar projects held through Sunlight, which were no longer included in Enlight’s results after the company sold a 44% stake in Sunlight to Harel and its partners.
Excluding those projects, Enlight’s net profit in the first half of 2025 was $26 million, meaning underlying net profit increased by approximately 160% in the first half of 2026.
EBITDA rose to $314 million from $227 million a year earlier.
As of the end of the second quarter, Enlight had 21.8 gigawatts of generation capacity and 74.6 gigawatt-hours of storage capacity. Its mature backlog, consisting of operating projects, projects under construction and projects approaching construction, stood at 6.4 GW of generation capacity and 20.5 GWh of storage capacity.
The United States accounted for 41% of Enlight’s generation capacity, Israel for 25% and Europe for 34%. Europe currently accounts for just 13% of the company’s storage capacity, meaning the proposed acquisition could significantly increase the region’s contribution to that business.
Enlight has 4.5 GW of generation and storage projects under construction, including six projects in the United States and seven in Europe. Its portfolio of projects approaching construction stood at 3.9 GW at the end of the second quarter.
The company is also investing heavily in the United States. In June, Enlight announced its largest financing transaction to date: $2.6 billion in financing from seven U.S. financial institutions for the construction of a CO Bar complex in Arizona.
The push into European storage is part of a broader strategy. When Enlight announced its acquisition of control of Jupiter, it said renewable energy could account for 50%-75% of electricity generation in the countries where it operates, creating a growing need for energy storage.
Storage can help address one of the central problems created by the rapid expansion of renewable energy: generation does not always coincide with demand, while electricity grids in many countries have struggled to expand transmission capacity at the same pace as generation and consumption.
The proposed acquisition would therefore give Enlight not only a larger European development platform, but potentially a stronger position in a storage market that the company expects to grow alongside renewable-energy generation.
Enlight declined to comment on the negotiations.
The company said: “We do not usually comment on rumors. Should there be an event that requires reporting, we will act in accordance with the disclosure rules applicable to the company.”
