What Happened

The CO Bar Solar and Storage Complex in Arizona secured $2.6B in financing commitments, advancing a renewable energy development valued at $2.9B-$3.05B. Developed by Clēnera Holdings, a subsidiary of Enlight Renewable Energy, the complex will deliver 1.2 GW of solar capacity and 4.0 GWh of battery storage, with operations starting between late 2027 and early 2028.

Who Is Affected

Clēnera Holdings and Enlight Renewable Energy are leading the project, supported by a consortium of financial institutions including BNP Paribas Securities Corp., Crédit Agricole CIB, and MUFG Bank. Salt River Project and Arizona Public Service have signed long-term offtake agreements, ensuring revenue certainty for the development.

Market Impact

• Positions CO Bar Complex among the largest renewable energy projects in the U.S.
• Highlights continued investment in utility-scale solar and battery storage.
• Reflects growing electricity demand in the Southwest.

What to Watch

Monitor the phased startup of operations between H2 2027 and H1 2028, and potential tax equity partnerships in 2027. The project's success could influence future renewable energy investments in the region.