Enlight Renewable Energy (Nasdaq: ENLT; TASE: ENLT) has received regulatory approval to build one of Israel’s biggest energy storage facilities. The installation will cost NIS 370-400 million. Enlight’s share price is currently 6.55% higher on Wall Street, giving a market cap of $11.174 billion.

The energy storage facility, which will be built near Kibbutz Neot Smadar in the southern Arava, will have a storage capacity of 645 MWh, in addition to solar power production facilities that already exist in the area. Enlight is working to obtain a building permit for the start of construction as early as this year, with commercial operation planned for July 2028.

Enlight said, "The project will be built on the land belonging to Kibbutz Neot Smadar and the Hevel Eilot Regional Council, and promoted in cooperation with the kibbutz. The project will help utilize the grid resource and improve the reliability of electricity supply in the area."

Energy storage on such a scale makes it possible to overcome the gap between peak solar production hours at noon and peak consumption hours, usually in the evening.

Enlight SVP Carr Meron says, "The future of the electricity sector depends not only on the ability to produce more renewable energy, but also on the ability to manage it optimally. Energy storage is a critical infrastructure in the transition to renewable energies, and requires the planning, construction and operation of large and complex projects that will also contribute to the energy security of the State of Israel."

Published by Globes, Israel business news - en.globes.co.il - on April 14, 2026.

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