Enel To Acquire 830 MW U.S. Wind–Solar Portfolio From Excelsior Energy Capital In A $1 Billion Deal Expected To Generate 2.1 TWh Annually

Enel S.p.A. (Enel), through its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, has signed agreements with Excelsior Energy Capital to acquire a major portfolio of wind and solar assets in the United States. The portfolio includes a total installed capacity of 830 MW and is expected to generate around 2.1 TWh of electricity each year. The value of the transaction is approximately 1 billion US dollars (about 850 million euros), subject to the usual adjustments that accompany agreements of this nature. Based on 100% of the assets, the enterprise value of the portfolio is estimated at around 1.3 billion US dollars. Enel plans to fund the purchase through cash generated from its ongoing operations.

Once the transaction is completed, Enel anticipates a positive annual impact of roughly 145 million US dollars — or about 125 million euros — on the Group’s consolidated ordinary EBITDA once the assets are fully integrated. With this acquisition, Enel’s renewable installed capacity in North America is expected to reach approximately 13 GW across wind, solar, and energy storage facilities, further expanding its presence in a key strategic market.

The closing is expected in the third quarter of 2026, provided that all customary conditions are met, including the necessary regulatory approvals under U.S. law. The acquisition aligns closely with Enel’s strategy of expanding its renewable energy fleet, including through the purchase of operational assets in highly developed, Tier 1 markets.Enel is a leading global power company with operations in 28 countries and is recognized as the world’s largest renewable energy player. It is also the top electricity distribution operator based on the number of customers served and one of the biggest retail energy providers worldwide. The Group generates electricity with a total capacity of about 93 GW.

Enel Green Power, the Group’s renewable energy division, has approximately 68 GW of installed capacity spanning wind, solar, geothermal, hydroelectric, and energy storage technologies across Europe, the Americas, Africa, Asia, and Oceania. Enel Grids, the Group’s global network business, manages a vast electricity distribution system that extends 1.8 million kilometers and serves 69 million end users.Enel Commercial, the customer-focused arm of the Group, delivers electricity, gas, and integrated energy services to more than 29 million customers, including households, industries, businesses, and public administrations. It also promotes efficient and sustainable energy use, provides flexibility services amounting to 9.9 GW, and operates over 31,000 public charging points for electric mobility.