Enel to Acquire 830 MW U.S. Wind-Solar Portfolio from Excelsior Energy Capital in $1 Billion Deal

Rome, Italy – February 23, 2026 – Enel S.p.A. Has signed agreements to acquire a portfolio of wind and solar plants located in the United States from Excelsior Energy Capital for approximately $1 billion (roughly €850 million), subject to customary adjustments . The deal, announced February 21st, 2026, will add 830 MW of installed capacity to Enel’s North American renewable energy footprint.

Deal Details and Financing

The portfolio’s enterprise value is estimated at around $1.3 billion. Enel plans to finance the acquisition using cash generated from its current operations . Morgan Stanley served as advisor to Excelsior Energy Capital, while Jefferies advised Enel.

Expected Output and Financial Impact

The acquired plants are expected to generate around 2.1 TWh of electricity annually. Enel anticipates a positive annual impact of approximately $145 million (or about €125 million) on the Group’s consolidated ordinary EBITDA once the assets are fully integrated .

Expansion of North American Renewable Capacity

Following the completion of this transaction, Enel’s total renewable installed capacity in North America is projected to reach approximately 13 GW, encompassing wind, solar, and energy storage facilities . This acquisition reinforces Enel’s commitment to expanding its renewable energy presence in key strategic markets.

Closing Timeline and Regulatory Approvals

The transaction is expected to close in the third quarter of 2026, pending the fulfillment of customary closing conditions, including obtaining the necessary regulatory approvals under U.S. Law . The acquisition aligns with Enel’s broader strategy of growing its renewable generation capacity through the acquisition of operational assets in Tier 1 markets.