The Italian energy company Enel has completed a significant U.S. renewables acquisition, bringing an 810-megawatt portfolio of wind and solar assets under its operational control. The transaction, valued at $760 million and finalized in September 2026, represents a substantial addition to the company’s clean energy footprint across multiple American states.
Strategic Expansion Through U.S. Renewable Energy Acquisition
This U.S. renewables acquisition was completed with investor Excelsior Energy Capital and positions Enel to generate approximately 1.6 terawatts hours of carbon-free electricity annually. The combined capacity underscores the company’s commitment to expanding its clean energy infrastructure at a time when renewable power continues to gain prominence in the global energy sector.
The portfolio comprises utility-scale solar installations strategically located across key U.S. regions. Raw earnings projections from the solar assets are estimated at approximately $90 million per year, providing meaningful economic returns alongside environmental benefits.
Key Projects in the U.S. Renewables Expansion
The U.S. renewables acquisition includes two principal projects that form the foundation of this transaction. These are the Faraday Solar Facility in Utah and Skyhawk solar project in Tennessee.
The Faraday solar plant, with a capacity of 525 megawatts, commenced commercial operations last year and operates under a 20-year power purchase agreement with Rocky Mountain Power, a subsidiary of Pacific energy holding company Pacificorp. This facility has established itself as a reliable provider of clean electricity in the western United States.
The Skyhawk solar project in Tennessee represents the second major component of the transaction. This facility operates through a long-term power purchase agreement with the Tennessee Valley Authority, ensuring stable revenue generation and grid reliability.
Enel’s Global Renewable Energy Operations
The full Enel-Excelsior U.S. renewables deal covers more than 800 MW of combined wind and solar capacity across America.
Enel operates across 28 countries with a combined global energy generation capacity exceeding 93 gigawatts. The company’s U.S. renewable portfolio now encompasses approximately 14 gigawatts of renewable energy and battery storage assets.
