Enlight Renewable Energy's Q2 2025 Earnings Call: Unpacking Contradictions on Tariffs, Supply Chains, and Market Dynamics

Impact of tariffs on project returns, transition to 182mm panels, module supply chain and tariffs, PPA pricing and market demand, component costs and supply chain resilience are the key contradictions discussed in Enlight Renewable Energy Ltd.'s latest 2025Q2 earnings call.



Strong Financial Performance in Q2 2025:
- Enlight Renewable Energy reported revenue of $135 million in Q2 2025, an increase of 53% year-over-year, and adjusted EBITDA of $96 million, up 57% year-over-year.
- The growth was driven by contributions from newly operational projects and a strong demand for renewable energy.

U.S. Project Progress and Expansion:
- Enlight's U.S. business is experiencing significant growth, with projects such as Snowflake A, Roadrunner, Quail Ranch, and Country Acres proceeding on schedule or ahead of schedule.
- The expansion in the U.S. market is due to regulatory clarity and a supportive business environment, creating opportunities for accelerated growth.

Energy Storage Strategy and Market Demand:
- Enlight is positioned as a global front-runner in energy storage, with 7.8 gigawatt hours of energy storage projects in Europe and plans to expand in Israel.
- The strategy is driven by strong demand for energy storage solutions due to high renewable energy supply and favorable cost dynamics.

Leadership Changes and Strategic Appointments:
- Adi Leviatan is set to become CEO of Enlight, with Gilad Yavetz transitioning to Executive Chairman, effective October 1, 2025.
- This move is aimed at bringing valuable insights and best practices from a Fortune 100 company to strengthen Enlight's executive leadership and reinforce core values.

Increased 2025 Guidance Based on Strong Execution:
- The company raised its 2025 guidance, with revenues now expected between $520 million and $535 million, and adjusted EBITDA between $385 million and $400 million.
- This adjustment reflects strong financial performance during the first half of 2025 and confidence in future execution.