UNITED STATES OF AMERICA —Italian utility major Enel has finalized the purchase of an 810 MW operational solar energy portfolio across the United States for approximately $760 million. The transaction, funded completely through operating cash flows, represents the major portion of a larger transaction announced in February 2026 involving over 1 GW of renewable power assets. Enel expects to complete the remaining purchase of a 205 MW wind power portfolio by the fourth quarter of 2026, which will propel its North American renewable portfolio beyond 13 GW across wind, solar, and battery storage units.
This strategic expansion reinforces the growing institutional investment in operating renewable generation assets in Tier 1 markets. By absorbing 810 MW of operational solar assets generating an average output of roughly 1.6 TWh per year, Enel immediately expands its base of recurring revenue while mitigating the development and construction risks typically associated with greenfield projects.
The deal reflects broader power sector consolidation as multinational utilities scale up operating renewable portfolios to meet rising electrification demand in the United States. Federal regulatory sign-offs from antitrust and energy regulators underscore the ongoing cross-border capital deployment into North American grid infrastructure, supporting long-term energy transition targets and grid stability goals.
For energy investors and corporate utilities, the transaction highlights a strategic shift toward cash-generative brownfield acquisitions that yield predictable operational financial returns. Enel projects the newly integrated solar generation assets will generate roughly $90 million in annual consolidated ordinary EBITDA, showcasing how operational scale and established power purchase arrangements continue to drive corporate M&A strategies across the North American power sector.
Enel S.p.A. is a Rome-headquartered multinational power utility and major global operator in renewable energy and electricity distribution. The enterprise operates in 27 countries, managing over 92 GW of total generation capacity alongside extensive global power distribution networks serving tens of millions of end users.
