Enel acquires 810 MW solar portfolio from Excelsior Energy Capital, including Faraday and Skyhawk projects
Type: Acquisition · Technology: Solar · Country: United States · Capacity: 810 MW · Value: $760M · Announced: 2026-09-11
Enel has completed a $760 million acquisition of two utility-scale solar projects from Excelsior Energy Capital, totaling 810 MW DC in capacity. The larger asset, the 682 MW DC Faraday solar plant in Utah County, Utah, reached commercial operation in September 2025 and is backed by a 20-year power purchase agreement with Meta via PacifiCorp's Schedule 34 green energy tariff. The second facility, the 127 MW DC Skyhawk solar plant in Obion County, Tennessee, has been operational since 2023 and supplies electricity and environmental attributes to Google through the TVA Green Invest program. The transaction forms part of a larger 1+ GW portfolio sale that also includes 205 MW in wind capacity, with Enel's North American footprint expanding to 13 GW of wind, solar and storage facilities upon closing. Although the wind capacity acquisition remains pending regulatory approval in Q4 2026, the deal underscores the strength of contracted renewable infrastructure with long-term PPAs from major counterparties like Meta and Google.
Analysis
Enel has completed a $760 million acquisition of two utility‑scale solar projects from Excelsior Energy Capital, totaling 810 MW DC in capacity. Enel is a Rome‑based multinational energy company that operates clean‑energy assets across Europe, Latin America, North America, Africa, Asia and Oceania. Excelsior Energy Capital is an independent private‑equity firm that invests in middle‑market energy infrastructure projects across North America. The Faraday plant in Utah County, Utah (682 MW DC) began commercial operation in September 2025 under a 20‑year PPA with Meta via PacifiCorp’s Schedule 34 green‑energy tariff, while the Skyhawk plant in Obion County, Tennessee (127 MW DC) has been operating since 2023 supplying electricity and environmental attributes to Google through the TVA Green Invest program. The transaction is part of a larger 1+ GW portfolio sale that also includes 205 MW of wind capacity, with the wind portion pending regulatory approval in Q4 2026.
Key points
- $760 million transaction value
- 810 MW DC solar capacity acquired
- Faraday plant 682 MW DC, commercial September 2025, 20‑year PPA with Meta
- Skyhawk plant 127 MW DC, operational 2023, supplies Google via TVA Green Invest
- Wind capacity of 205 MW pending regulatory approval Q4 2026
Counterparties
- Enel (Buyer)
- Excelsior Energy Capital (Seller)
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