Italian utility Enel has confirmed completion of the acquisition of seven PV sites in the Southern US, via its wholly-owned subsidiary, Enel Green Power North America.
The initial agreement came in May 2026 between Enel Green Power North America and an unnamed US company, and comprised of seven operational sites with a total capacity of 240MW, equivalent to 0.4TWh per annum. The acquisition cost the Italian utility US$140 million, and a Group net financial debt of US$180 million.
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The additions to the Enel portfolio are expected to add approximately US$20 million to its ordinary EBITDA. Enel owns more than 92GW of capacity, of which 67GW is from renewables under its renewables arm, Enel Green Power, which operates across Europe, the Americas, Africa, Asia and Oceania.
Moreover, the completion of the acquisition of a 270MW PV portfolio comes less than a month after the utility acquired two other PV projects in the US. Acquired from US-based clean energy investor, Excelsior Energy Capital, the solar projects are located in Utah and Tennessee and have a combined 625MW of generation capacity. Both projects are already operational and have long-term power purchase agreements attached to them.
