# EDGAR Filing Document

**Accession Number:** 0001922641
**File Stem:** 0000000000-23-000966
**Filing Date:** 2023-1
**Character Count:** 12409
**Document Hash:** cb3d0daa0f16656a56b2b906ffdad6e6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-000966.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0000000000-23-000966

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230130

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Enlight Renewable Energy Ltd.
- **CENTRAL INDEX KEY:** 0001922641
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** 13 HAAMAL STREET
- **STREET 2:** AFEK INDUSTRIAL PARK
- **CITY:** ROSH HAAYIN
- **STATE:** L3
- **ZIP:** -
- **BUSINESS PHONE:** 972 (3) 900-8700

**MAIL ADDRESS:**
- **STREET 1:** 13 HAAMAL STREET
- **STREET 2:** AFEK INDUSTRIAL PARK
- **CITY:** ROSH HAAYIN
- **STATE:** L3
- **ZIP:** -

## Text-Extract

```

United States securities and exchange commission logo

                              January 30, 2023

       Gilad Yavetz
       Chief Executive Officer and Director
       Enlight Renewable Energy Ltd.
       13 Amal St. Afek Industrial Park,
       Rosh Ha   ayin, Israel

                                                        Re: Enlight Renewable
Energy Ltd.
                                                            Registration
Statement on Form F-1
                                                            Filed January 20,
2023
                                                            File No. 333-269311

       Dear Gilad Yavetz:

              We have reviewed your registration statement and have the
following comments. In
       some of our comments, we may ask you to provide us with information so
we may better
       understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.

       Registration Statement on Form F-1 filed January 20, 2023

       Summary
       Overview, page 1

   1.                                                   With regard to your
disclosure on pages 2 and 90 of an annualized ratio computed with an
                                                        amount for invested
capital in projects that were operational as of July 1, 2022, please tell
                                                        us how you define the
 invested capital    used as the denominator of the ratio. In addition,
                                                        expand the disclosure
regarding the rationale for your annualization of a three month
                                                        period to address why
you do not deem seasonality to be a factor that should be
                                                        considered in the
calculation of this ratio. In this regard, we note disclosure on page 67
                                                        that addresses why
seasonality is mitigated in your circumstances.
 Gilad Yavetz
FirstName  LastNameGilad Yavetz
Enlight Renewable Energy Ltd.
Comapany
January 30,NameEnlight
            2023       Renewable Energy Ltd.
January
Page 2 30, 2023 Page 2
FirstName LastName
Recent events, page 4

2.       We note you have identified here and on page 106, the acquisition of
greenfield
         development rights in Serbia and Italy as significant events that
occurred in December
         2022. Please revise to disclose the financial effect of these
transactions or otherwise
         advise.
Management's discussion and analysis of financial condition and results of
operations
Overview and business, page 65

3.       We note the addition of disclosure describing an average profit per
kilowatt earned by
         Clenera prior to your ownership here and on page 93. However, it is
not clear that
         quantification of a historical average profit in this manner is useful
to the investor without
         appropriate context. Please revise to describe how this average profit
has been
         calculated and the time frame it covers.
Significant factors and trends affecting our business
Rising power prices across Europe and the United States, page 66

4.       We note the addition of disclosure stating that    in the third
quarter of 2022, our first
         operational quarter for project Gecama in Spain, we sold electricity
at an average net price
         of EUR 103 per MWh.    Please revise to provide further context to
your discussion
         surrounding an average net price.
Notes to the financial statements as of December 31, 2021
Note 28 - Operating segments, page F-84

5.       We note the analysis you provided as it relates to your presentation
of Segments
         Revenues in response to prior comment 16 in our letter dated September
21, 2022, prior
         comment 3 in our letter dated December 5, 2022, and the additional
information you
         provided to us over the phone. However, based on the guidance in IFRS
8, Operating
         Segments, we object to the Company   s presentation of Segments
Revenues within the
         segment footnote, specifically the inclusion of    Proceeds from the
sale of electricity, as
         IFRS 8.23(a) requires disclosure of    revenues from external
customers,    which does not
         permit disclosure of amounts that are not revenue recognized in the
current period. Please
         revise your segment disclosures accordingly.
General

6.       Please update your executive compensation disclosures to include any
compensation paid
         for the fiscal year ended December 31, 2022. Refer to Form F-1 and
Item 6. B of Form 20-
         F for guidance.
 Gilad Yavetz
FirstName  LastNameGilad Yavetz
Enlight Renewable Energy Ltd.
Comapany
January 30,NameEnlight
            2023       Renewable Energy Ltd.
January
Page 3 30, 2023 Page 3
FirstName LastName
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration
statement.

       You may contact Jennifer O'Brien, Staff Accountant, at (202) 551-3721 or
Kimberly
Calder, Assistant Chief Accountant, at (202) 551-3701 if you have questions
regarding
comments on the financial statements and related matters. Please contact Liz
Packebusch, Staff
Attorney, at (202) 551-8749 or Irene Barberena-Meissner, Staff Attorney, at
(202) 551- 6548
with any other questions.

                                                           Sincerely,

                                                           Division of
Corporation Finance
                                                           Office of Energy &
Transportation
cc:      Joshua G. Kiernan

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

CORPORATION FINANCE

# UNITED STATES  
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549

January 30, 2023

Gilad Yavetz  
Chief Executive Officer and Director  
Enlight Renewable Energy Ltd.  
13 Amal St. Afek Industrial Park,  
Rosh Ha'ayin, Israel

**Re: Enlight Renewable Energy Ltd.  
Registration Statement on Form F-1  
Filed January 20, 2023  
File No. 333-269311**

Dear Gilad Yavetz:

We have reviewed your registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments.

Registration Statement on Form F-1 filed January 20, 2023

Summary

Overview, page 1

1. With regard to your disclosure on pages 2 and 90 of an annualized ratio computed with an amount for invested capital in projects that were operational as of July 1, 2022, please tell us how you define the “invested capital” used as the denominator of the ratio. In addition, expand the disclosure regarding the rationale for your annualization of a three month period to address why you do not deem seasonality to be a factor that should be considered in the calculation of this ratio. In this regard, we note disclosure on page 67 that addresses why seasonality is mitigated in your circumstances.

Gilad Yavetz  
Enlight Renewable Energy Ltd.  
January 30, 2023  
Page 2

# Recent events, page 4

2. We note you have identified here and on page 106, the acquisition of greenfield development rights in Serbia and Italy as significant events that occurred in December 2022. Please revise to disclose the financial effect of these transactions or otherwise advise.

# Management's discussion and analysis of financial condition and results of operations

# Overview and business, page 65

3. We note the addition of disclosure describing an average profit per kilowatt earned by Clenera prior to your ownership here and on page 93. However, it is not clear that quantification of a historical average profit in this manner is useful to the investor without appropriate context. Please revise to describe how this average profit has been calculated and the time frame it covers.

# Significant factors and trends affecting our business

# Rising power prices across Europe and the United States, page 66

4. We note the addition of disclosure stating that 'in the third quarter of 2022, our first operational quarter for project Gecama in Spain, we sold electricity at an average net price of EUR 103 per MWh.' Please revise to provide further context to your discussion surrounding an average net price.

# Notes to the financial statements as of December 31, 2021

# Note 28 - Operating segments, page F-84

5. We note the analysis you provided as it relates to your presentation of Segments Revenues in response to prior comment 16 in our letter dated September 21, 2022, prior comment 3 in our letter dated December 5, 2022, and the additional information you provided to us over the phone. However, based on the guidance in IFRS 8, *Operating Segments*, we object to the Company's presentation of Segments Revenues within the segment footnote, specifically the inclusion of 'Proceeds from the sale of electricity, as IFRS 8.23(a) requires disclosure of 'revenues from external customers,' which does not permit disclosure of amounts that are not revenue recognized in the current period. Please revise your segment disclosures accordingly.

# General

6. Please update your executive compensation disclosures to include any compensation paid for the fiscal year ended December 31, 2022. Refer to Form F-1 and Item 6.B of Form 20-F for guidance.

Gilad Yavetz
Enlight Renewable Energy Ltd.
January 30, 2023
Page 3

We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.

Refer to Rules 460 and 461 regarding requests for acceleration. Please allow adequate time for us to review any amendment prior to the requested effective date of the registration statement.

You may contact Jennifer O'Brien, Staff Accountant, at (202) 551-3721 or Kimberly Calder, Assistant Chief Accountant, at (202) 551-3701 if you have questions regarding comments on the financial statements and related matters. Please contact Liz Packebusch, Staff Attorney, at (202) 551-8749 or Irene Barberena-Meissner, Staff Attorney, at (202) 551- 6548 with any other questions.

Sincerely,

Division of Corporation Finance
Office of Energy & Transportation

cc: Joshua G. Kiernan