Enel acquires 830 MW wind and solar portfolio from Excelsior Energy Capital

Deal Analysis

Enel's acquisition of an 830 MW wind and solar portfolio from Excelsior Energy Capital in the United States represents a significant expansion of Enel's renewable energy footprint in a key market. The deal, executed through Enel's subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, underscores Enel's commitment to growing its renewable energy generation capacity. This acquisition allows Enel to consolidate its position as a major player in the North American renewable energy sector. The transaction is notable for its scale, involving a substantial 830 MW of installed capacity across wind and solar technologies. Enel, a major global energy company, is the buyer, while Excelsior Energy Capital, a specialized energy infrastructure fund, is the seller. The deal highlights the ongoing consolidation and investment activity within the renewable energy sector, as established players like Enel seek to expand their portfolios through strategic acquisitions. The involvement of Complete Solar as a buyer also suggests a broader interest in distributed generation assets.

Acquisition of a substantial 830 MW wind and solar portfolio.
Involves a major global energy company (Enel) expanding its renewable energy assets.
Highlights ongoing consolidation trends in the renewable energy sector.
Seller is Excelsior Energy Capital, a specialized energy infrastructure fund.

Market Context: The US renewable energy market is experiencing significant growth, driven by government incentives, declining technology costs, and increasing demand for clean energy. This deal reflects the attractiveness of the US market for renewable energy investments and the ongoing trend of portfolio acquisitions by large energy companies.

Source Intelligence

KEY DETAILS

Enel plans to fund the purchase through cash generated from its ongoing operations. Once the transaction is completed, Enel anticipates a positive annual impact of roughly 145 million US dollars — or about 125 million euros — on the Group’s consolidated ordinary EBITDA once the assets are fully integrated. With this acquisition, Enel’s renewable installed capacity in North America is expected to reach approximately 13 GW across wind, solar, and energy storage facilities, further expanding its presence in a key strategic market.

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Deal Size

The value of the transaction is approximately 1 billion US dollars (about 850 million euros), subject to the usual adjustments that accompany agreements of this nature.

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Capacity

The portfolio includes a total installed capacity of 830 MW and is expected to generate around 2.1 TWh of electricity each year.

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Location

Enel S.p.A. (Enel), through its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, has signed agreements with Excelsior Energy Capital to acquire a major portfolio of wind and solar assets in the United States.

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Financials

Based on 100% of the assets, the enterprise value of the portfolio is estimated at around 1.3 billion US dollars.

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Announcement

Monday, February 23, 2026

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Expected Close

The closing is expected in the third quarter of 2026, provided that all customary conditions are met, including the necessary regulatory approvals under U.S. law.

PARTIES MENTIONED IN SOURCE

E

Enel buyer

"Enel S.p.A. (Enel), through its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, has signed agreements with Excelsior Energy Capital to acquire a major portfolio of wind and solar assets in the United States."

E

Enel Green Power North America buyer

"Enel S.p.A. (Enel), through its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, has signed agreements with Excelsior Energy Capital to acquire a major portfolio of wind and solar assets in the United States."

E

EGPNA Project Holdco 2 buyer

"Enel S.p.A. (Enel), through its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, has signed agreements with Excelsior Energy Capital to acquire a major portfolio of wind and solar assets in the United States."

E

Excelsior Energy Capital seller

"Enel S.p.A. (Enel), through its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2, has signed agreements with Excelsior Energy Capital to acquire a major portfolio of wind and solar assets in the United States."

high quality Enriched Feb 23, 2026