Enel Acquired Major US Solar Portfolio
The company finalized a deal for 810 MW of solar assets in a transaction valued at approximately $760 million.
Updated on Oct. 2, 2026 in Energy
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Enel has officially closed its acquisition of a solar portfolio from Excelsior Energy Capital for roughly $760 million. The assets boast an installed capacity of 810 MW and are expected to produce an average of 1.6 TWh annually.
Why it matters
This move significantly expands Enel's renewable footprint in the United States, supporting its broader goal of reaching over 13 GW of installed renewable capacity in North America. The acquisition is projected to add approximately $90 million annually to the company's consolidated ordinary EBITDA.
The acquired solar portfolio delivers an expected average annual output of 1.6 TWh. Enel utilized cash flows from current operations to fund the $760 million purchase price, which included customary transactional adjustments.
The players
Enel
Enel is an Italian multinational manufacturer and distributor of electricity and gas.
Excelsior Energy Capital
Excelsior Energy Capital is an independent renewable energy infrastructure investor.
The details
The transaction is part of a larger agreement signed in February 2026 for a mix of wind and solar assets with a total enterprise value of $1.3 billion. Enel expects to finalize the remaining portion of the deal, involving 205 MW of wind capacity, by the fourth quarter of 2026.
Timeline
February 2026: Enel signed the original agreements for the wind and solar assets.
October 2, 2026: Enel closed the acquisition of the 810 MW solar portfolio.
Q4 2026: Enel expects to close the final acquisition of 205 MW of wind capacity.
The Big Picture
This acquisition follows the pattern of utility-scale consolidation set by recent North American renewable energy capacity expansion trends. It marks a significant shift as Enel moves closer to its target of 13 GW of installed capacity in the region.
The expansion of this solar portfolio increases the availability of renewable energy on the national grid. For consumers, the integration of 1.6 TWh of annual output supports long-term trends toward more stable and sustainable power supplies.
The takeaway
Large-scale acquisitions by major power providers like Enel are increasingly critical for meeting national renewable energy targets. Investors and stakeholders should monitor the closure of remaining wind capacity segments to track the full scale of the company's North American expansion.
What happens next
Enel expects to close the acquisition of 205 MW of wind capacity by the fourth quarter of 2026.
Further reading
For more on industry shifts, explore the Energy section.
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Do you believe large-scale utility acquisitions of renewable energy assets are good for the energy market?
