Enlight Renewable Energy Aims for $2.1B Revenue by 2028 While Launching $2B AI Data Center Push

TL;DR: Enlight Renewable Energy targets over $2.1 billion in annual revenue by 2028, linked to about 12‑13 factored gigawatts of operating capacity (a measure that weights projects by their development stage), and will invest $1.5‑$2 billion in a 116 MW AI data center in Ashalim, Israel, slated for 2029.

Renewable electricity is expanding fast, now supplying about 40 % of global power and expected to reach 60 % by 2040 and near 70 % by 2050. This growth is driven by falling costs and quicker deployment of solar, wind and storage.

Enlight Renewable Energy, listed on NASDAQ as ENLT, used its 2026 Investor Day to outline a strategy that leans on this trend, highlighting a 40 % compound annual growth rate in revenue and EBITDA over the past decade and a current portfolio of roughly 42 factored gigawatts.

The company said it aims for an annual revenue run rate above $2.1 billion by 2028, which corresponds to about 12‑13 factored gigawatts of operating capacity worldwide.

As part of a new push, Enlight’s flagship AI data center in Ashalim, Israel, will provide 116 megawatts of IT power, need $1.5‑$2 billion in investment, and is scheduled to start operations in 2029.

By linking renewable generation to data‑center development, Enlight hopes to solve a growing bottleneck for hyperscalers: securing reliable, low‑cost power near large compute loads. The approach could reduce the need for new transmission lines because data can travel over fiber more cheaply than moving electricity.

Management noted that powered‑shell data‑center projects could yield internal rates of return between 10 % and 20 %, comparable to or better than its renewable projects, while full data‑center operations might offer higher returns if partnerships and capabilities are built. Investors should watch whether Enlight can secure land rights and interconnection agreements for its U.S., Finnish and German data‑center options and how those projects affect its revenue trajectory toward the 2028 target.

The next milestone to watch is the commissioning of the Ashalim facility in 2029, which will test Enlight’s ability to translate renewable power into AI‑scale infrastructure.