Events After the End of the Reporting Period |
12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||
| Disclosure of non-adjusting events after reporting period [abstract] | ||||||||||||||||
| Events After the End of the Reporting Period |
Note
31 - Events After the End of the Reporting Period
In
January 2026, the Roadrunner energy storage project achieved commercial operation and is backed by a 20-year
energy storage agreement (ESA) with the Arizona Electric Power Cooperative.
In
January 2026, the Quail Ranch energy storage project achieved commercial operation and is backed by a 20-year
energy storage agreement (ESA) with Public Service Company of New Mexico (PNM).
In
February 2026, the Company announced that it has reached key development milestones for the CO Bar Solar and Energy Storage Complex, located
in Arizona, U.S. The CO Bar Complex comprises approximately 1.211 GW of solar generation capacity and 4.0 GWh of energy storage capacity
across five stages.
During
the reporting period, the Complex finalized its 1 GW AC Large Generator Interconnection Agreement and signed 20-year busbar energy storage
agreements with Salt River Project for the standalone energy storage stages, securing offtake arrangements for the entire Complex.
On
February 19, 2026, the Company completed an issuance of 6,002,416
ordinary Company shares, with a par value of NIS 0.1
each. The total (gross) consideration amounted to approximately NIS 1,320
million (USD 421.1
million).
In
March 2026, the Company announced that its U.S. subsidiary, Clēnera Holdings, LLC, secured approximately $304 million in
construction financing and term debt commitments for the Crimson Orchard project in Elmore County, Idaho. The financing commitments were
provided by a group of leading global lenders: HSBC, ING Capital LLC, KeyBanc Capital Markets, and MUFG Bank, Ltd.
Crimson
Orchard is a co-located solar and energy storage project totaling 120 MW of solar power generation capacity and 400 MWh of energy
storage capacity.
The
project is backed by a 20-year busbar solar
power purchase agreement and a 20-year energy storage tolling agreement with Idaho Power, providing long-term contracted
revenues. The Company believes the project qualified for safe harbor status in 2025. |