Enel S.p.A., through its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, has signed agreements with Excelsior Energy Capital to acquire a 830 MW renewable energy portfolio in US. The portfolio comprises wind and solar plants with an expected average annual output of around 2.1 TWh. The transaction is expected to close in the third quarter of 2026, subject to certain conditions precedent, including regulatory approvals. The transaction value is approximately $1 billion, subject to customary adjustments.
The enterprise value for the full portfolio is estimated at around $1.3 billion, and the acquisition will be funded through internal cash flows. Following the completion of the transaction, the company expects a positive net annual impact of about $145 million on consolidated ordinary earnings before interest, taxes, depreciation, and amortisation. Additionally, the acquisition is projected to increase ENEL’s renewable footprint in North America, taking total installed capacity from wind, solar, and storage assets in the region to approximately 13 GW.
In January 2026, Enel issued €2 billion in perpetual hybrid bonds for institutional investors in the European market, with demand exceeding €14 billion, making the issuance over seven times oversubscribed. The proceeds will be used to refinance two hybrid bonds, with call date in 2026, that are worth about €1.35 billion.
