Enlight Renewable Energy Ltd.

Good day and thank you for standing by. Welcome to Enlight Renewable Energy's third quarter 2026 earnings call. Please be advised that today's conference is being recorded. I would now like to hand the call over to Limor Zohar Megen, Director of Investor Relations. Please go ahead.

Good morning everyone and thank you for joining Enlight Renewable Energy's Third Quarter 2026 Earning Conference Call Before beginning this call, I would like to draw participants' attention to the following. Certain statements made on the call today, including but not limited to statements regarding business strategy and plans, our project portfolio, market opportunity, utility demand and potential growth, discussions with commercial counterparties and financing sources. Pricing Trends for Materials, Progress of Company Projects, including Anticipated Timing of Related Approvals, and Projects Completion and Anticipated Production Delays, Expected Impact from Various Regulatory Developments, Completion of Development, the Potential Impact of the Current Conflicts in the Middle East and Our Operations and Financial Conditions, and Company Action Designed to Mitigate Such Impacts. and the company's future financial and operational results and guidance, including revenue and adjusted EBITDA, are forward-looking statements within the meaning of U.S. federal securities laws, which reflect management's best judgment based on currently available information. We reference certain projects' metrics in this earning call, and additional information about such metrics can be found in our earning release. These statements involve risks and uncertainties that may cause actual results to differ from our expectations. Please refer to our 2025 Annual Report filed with the SEC on March 30, 2026 and other filings for more information on specific factors that could cause actual results to differ materially from forward-looking statements. Although we believe these expectations are reasonable, we undertake no obligation to revise any statements to reflect changes that occur after this call. Additionally, non-IFRS financial measures may be discussed on the call. These non-IFRS measures should be considered in addition to and not as a substitute for or in isolation from our results prepared in accordance with IFRS. Reconciliations to the most directly comparable IFRS financial measures are available in the earning release and the earning presentations for today's call, which are posted on our investor relation webpage. With me this morning are Adi Leviatan, Chief Executive Officer of Enlight, Nir Yehuda, Chief Financial Officer of Enlight, and Jared McKee, Chief Executive Officer of Plinera. Adi will begin with an overview of our performance and key milestones achieved during the quarter, followed by Nir who will review our financial results for the third quarter. Jared will then provide an update on our U.S. operations and business activities. Our prepared remarks will be accompanied by a presentation. To follow along, please access the webcast or visit enlightenergy.com slash data slash financial dash reports. Following the prepared remarks, we will open the call for a question and answer session. I will now turn the call over to Adi Leviatan, CEO of Enlight. Adi, please begin.

Good morning and good afternoon, everyone, and thank you for joining us. We delivered another strong quarter at Enlight with continued growth across our key financial metrics and significant progress in line with our growth plan. This quarter demonstrates the strength of Enlight's platform across the full project lifecycle. We are expanding our operating portfolio and delivering strong financial performance, advancing projects through construction and into operation, and developing the next wave of growth. We are executing our near-term plan while building the pipeline that we expect to sustain our growth well beyond 2028. We are operating in dynamic times with markets questioning the pace and scale of the infrastructure spending of the large technology companies. As AI and data center infrastructure spending grows, so does investor scrutiny around the scale, timing, and returns on that investment. We believe it is important to distinguish market volatility from the underlying infrastructure need. Capital expenditure alone cannot deliver data center growth. This growth requires power, grid access, and the ability to develop and execute complex infrastructure projects. Power developer and infrastructure companies will be essential to turning these investments into operating capacity. For Enlight, we believe this creates a significant opportunity. Our generation and storage portfolio, grid connection expertise, development platform, and execution capabilities position us to help enable this growth and capture the value of providing the infrastructure it requires. We delivered record third quarter results across all key financial metrics. Total revenues and income reached $231 million, up 40% year-over-year, while adjusted EBITDA increased 38% to $154 million. Operating cash flow reached approximately $104 million, up 26% year-over-year, reflecting our ability to convert operating performance into growing cash generation. which is becoming an increasingly important internal source of capital to support our continued growth. These results demonstrate the growing scale of our operating platform. Over the past several years, we have invested significantly in the capabilities required to develop, finance, construct, and operate large and increasingly complex renewable energy projects across multiple markets. As our portfolio grows, that investment is translating into tangible financial results, demonstrating the growing scale of our operating platform. Beyond our near-term financial performance, we also made significant progress advancing the portfolio this quarter. Our mature portfolio has reached approximately 12.7 factored gigawatts, with an expected annual revenue rate of approximately $2.4 billion, While our development and advanced development portfolios grew by 9% to 33.5 factored gigawatts. Equally important is the portfolio's continued maturation into construction and operation. We are on track to have a record level of capacity under construction by the end of 2026. Our financial strength underpins our growth. We are generating cash flow at an annualized rate of approximately $400 million in 2026, while maintaining a disciplined debt structure that is predominantly non or limited recourse and fixed or hedged interest rates. Nir will review our financial position in greater detail shortly. We also achieved important milestones this quarter. We continue to expand and advance our portfolio in the Central and Eastern U.S. Most notably, Blackwater, one of the largest projects in PJM. Jared will discuss this progress in more detail later in the presentation. In Europe, we continue to expand our energy storage pipeline, bringing the annual revenue run rate of our mature European portfolio to approximately $630 million, double over the past year. I will now turn the call over to Nir to review our financial results.