Enel has formalised agreements to purchase a portfolio of wind and solar power plants in the US with a total installed capacity of 830MW.

The transaction, conducted through Enel Green Power North America (EGPNA) and EGPNA Project Holdco 2, involves the acquisition of the assets from Excelsior Energy Capital for around $1bn (€850m), with the final price subject to standard adjustments.

The enterprise value attributed to the entire portfolio is approximately $1.3bn.

Enel plans to fund the acquisition using cash generated by its current operations.

The company estimates that once the deal is complete, it will see an annual increase of around $145m in its consolidated ordinary earnings before interest, taxes, depreciation and amortisation.

The deal is expected to be completed in the third quarter of 2026, pending regulatory approvals and other customary conditions.

Following the acquisition, Enel expects to achieve approximately 13GW of installed renewable capacity in North America, covering wind, solar and storage facilities.

This activity aligns with the Enel Group’s broader strategy to expand its renewable generation portfolio by acquiring operational assets in advanced markets.

Enel operates in 28 countries and manages approximately 93GW of global electricity generation capacity.

Its renewables division, Enel Green Power, holds around 68GW of wind, solar, geothermal, hydroelectric power and energy storage across multiple regions.

The group’s distribution network covers 1.8 million kilometres and connects 69 million end-users worldwide.

Enel also serves more than 29 million customers globally with electricity, gas and integrated services, and manages flexibility services aggregating nearly 10GW and operating more than 31,000 public charging points for electric vehicles.

In May 2025, EGPNA signed a swap agreement with Gulf Pacific Power, an infrastructure fund managed by Harbert Management, to increase its renewable capacity in the US.