Enel announced it has signed agreements to acquire an 830 MW portfolio of operating wind and solar plants in the United States for approximately $1 billion, reinforcing its expansion strategy in renewable generation across Tier 1 markets.
The Rome-based multinational power company, acting through its wholly owned subsidiaries Enel Green Power North America Inc. and EGPNA Project Holdco 2 LLC, entered into agreements with Excelsior Renewable Energy Intermediate Fund I LP to acquire the assets. The portfolio has a total installed capacity of 830 MW and an expected average annual output of around 2.1 TWh.
The agreed consideration is approximately $1 billion, equivalent to around 850 million euros, subject to customary adjustments. The enterprise value of 100% of the portfolio is approximately $1.3 billion, taking into account the tax partnership agreement. The transaction will be financed through cash flows from current operations.
Upon closing, the acquisition is expected to generate a positive net impact of approximately 145 million US dollars per year, equivalent to around 125 million euros, on Enel Group’s consolidated ordinary EBITDA at regime. Following completion, Enel’s renewable installed capacity in North America is projected to reach approximately 13 GW across wind, solar, and storage facilities, entirely sourced from renewables.
The transaction is anticipated to close in the third quarter of 2026 and remains subject to customary conditions precedent, including required approvals under applicable U.S. regulations, such as antitrust clearance, authorization from the Federal Energy Regulatory Commission, and clearance for foreign direct investment review.
The deal aligns with Enel’s broader strategy to grow its renewable generation capacity, including through the acquisition of operational brownfield assets in mature markets.
Enel operates in 28 countries and is one of the largest integrated players in global power and renewables markets. The company has approximately 93 GW of total generation capacity. Its renewables arm, Enel Green Power, manages around 68 GW of capacity across wind, solar, geothermal, hydroelectric power, and energy storage facilities spanning Europe, the Americas, Africa, Asia, and Oceania.
Through its global grids business, Enel delivers electricity via 1.8 million kilometers of network infrastructure, serving approximately 69 million end users. Its commercial division provides electricity, gas, and integrated services to more than 29 million customers worldwide, including households, enterprises, industries, and public administrations. The company also aggregates 9.9 GW of flexibility services and operates 31,300 public charging points for electric mobility.
