Enel Green Power bolsters US solar position with 3.2GW portfolio purchase

The Roadrunner Solare 2 project, one of Enel Green Power’s existing solar sites in the US. Image: Enel Green Power.

Enel Green Power has bolstered its position in the US solar and energy storage markets by acquiring a 3.2GWdc portfolio of solar and solar-storage projects.

The portfolio comprises 24 development-stage projects spread across the Mid-Atlantic, Midwest and Western United States, specifically in the states of New Jersey, Pennsylvania, Delaware, West Virginia, Missouri and Colorado.

The portfolio has been acquired from Dakota Renewable Energy, a joint venture between renewables developer Dakota Power Partners and Eolian.

It includes around 450MW of energy storage capacity, which Enel said were part of several projects planned for the Mid-Atlantic region in order to capture additional revenue streams on offer there.

The deal will add to Enel Green Power’s North America division’s existing presence in the US. It was five solar and wind projects under construction in Texas with a combined generation capacity of 2.3GW, as well as 600MW of battery energy storage projects spread across the US.

In total, Enel Green Power North America manages around 6.6GW of renewable capacity in North America.

Georgios Papadimitriou, president and CEO at Enel Green Power North America, said the acquisition would accelerate the company’s plans for the market.

“These projects will play a key role in our efforts to help states reach their clean energy targets, spur job creation and meet rising corporate demand for renewables,” he said.

Enel’s acquisition comes as competition in the US market heats up. Last month, oil and gas major BP acquired a 9GW portfolio of solar PV projects in the US from 7X Energy.

Read Next

September 28, 2022
Energy major Shell will acquire Daystar Power, an Africa-based commercial and industrial (C&I) solar provider.
September 26, 2022
A subsidiary of Indian conglomerate Reliance Industries will invest US$12 million to acquire a 20% stake in Caelux Corporation, a California-based company working on perovskite solar technology.
September 20, 2022
Spanish solar developer Solarpack has reached an agreement to acquire 100% of the shares of developer Solaer.
September 20, 2022
Private equity firm KKR and Hero Group have invested US$450 million in Indian independent power producer (IPP) Hero Future Energies (HFE) to support its renewables expansion.
September 14, 2022
US energy software-as-a-service (SaaS) company Enverus has acquired Madrid-headquartered PV software provider RatedPower, broadening its portfolio of solutions in the solar industry.
September 13, 2022
Vehicle electrification solutions provider XL Fleet has acquired Spruce Power, an owner and operator of residential rooftop solar systems in the US with more than 52,000 subscribers across 16 states.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)