Italian Energy Giant Enel Expands American Footprint with Strategic Solar Portfolio Purchase

2026-10-05 companies

Rome, Monday, 5 October 2026.
Enel completed a 140 million dollar acquisition of seven operating solar plants in the United States, expanding its renewable power capacity and boosting annual operational earnings by 20 million dollars.

Transaction Specifics and Capacity

Enel Green Power North America finalized the acquisition of seven operational photovoltaic plants with a total installed capacity of approximately 270 MW [3][4]. The transaction, completed in October 2026, represents an enterprise value of approximately $140 million [4][6]. This acquisition aligns with the Group’s strategy to accelerate renewable generation capacity growth in Tier 1 countries [4][5]. The solar parks are located across Virginia, North Carolina, and South Carolina, contributing an average annual generation of approximately 0.4 TWh [5][6]. The deal was executed through Enel’s wholly-owned subsidiary, reinforcing its presence in the U.S. renewable energy sector [2][7].

Financial Implications and Market Performance

Financially, the acquisition is expected to have a positive impact on the Enel Group’s consolidated ordinary EBITDA of approximately $20 million per year [4][7]. The impact on the Group’s net financial debt is approximately $180 million, reflecting the leveraged nature of the project finance structure [4][6]. On the Borsa Italiana (BIT: ENEL), shares were priced at €8.767 on 5 October 2026, down from €8.799 on 2 October 2026 [1]. The recent price movement represents a change of -0.364 percent over the period [1]. This transaction follows a previous acquisition of 625 MW from Excelsior Energy Capital, demonstrating a consistent brownfield investment approach [5]. This strategy aims to stabilize utility performance through regulated network infrastructure and long-term power purchase agreements [1].

Sources

Utility Infrastructure Energy Sector