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Enlight Renewable Energy targets tripling revenue by 2028 on AI power demand
By Bear Creek Staff, . Bear Creek Capital Network.
Enlight Renewable Energy posted first-half 2026 sales of $322.5 million, a 43% year-over-year gain, according to The Motley Fool. Net income for the same period came in at $69 million. The report notes that figure represents 160% year-over-year growth when the prior-year comparison is adjusted to strip out an $81 million gain tied to the partial sale of the company's Sunlight solar cluster.
The Israel-based company manages renewable assets from permitting through to power delivery and trades on a U.S. exchange at $67.41 per share as of October 9, 2026, up roughly 95% over the prior twelve months. Its stated growth target is to lift its annual recurring revenue run rate from $0.8 billion in 2025 to above $2.2 billion by 2028, a roughly threefold increase in that revenue figure over three years.
The driver behind that target, as the company frames it, is electricity demand from artificial intelligence infrastructure. AI-focused data centers require chips that consume up to five times more electricity per square foot than conventional data centers, according to the same account of the company's positioning. Enlight has already signed a deal with Google, which the publication cites as evidence the company is actively capturing that demand rather than simply projecting it.
The publication assigned Enlight a "Superscore" of 77 out of 100 through its proprietary Hidden Gems scoring system, placing it in what the publication calls the "Strong" band and in roughly the top 14% of all companies it evaluates. The score combines financial performance, market position, technology, leadership quality and relative valuation into a single figure. The publication flags the elevated valuation multiple as the primary factor keeping the score from moving higher, while crediting the company's capital efficiency, meaning it generates returns on a comparatively small tangible asset base.
It discloses that the author holds positions in Alphabet and that the publication itself holds positions in and recommends Alphabet, which is the parent of Google.
The growth case here rests on two things holding simultaneously: AI infrastructure buildout continuing at its current pace, and Enlight executing on a project pipeline that has to roughly triple in output over three years. The Google deal is a concrete data point, but a single contract does not confirm the pipeline will fill at the rate the revenue target requires. The valuation multiple, which the report identifies as a risk without quantifying it in this piece, is the variable that matters most if execution slips or power-purchase agreement pricing softens. What is not established in the reporting is the terms or scale of the Google deal, the current state of the broader project pipeline, or how much of the 2028 target is already contracted versus still in development.
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