Italian Enel Porches US Wind, Solar Energy for One Billion Dollars

(MENAFN) Italian energy company Enel announced on Saturday that it is purchasing a portfolio of US wind and solar plants with a combined capacity of 830 megawatts (MW) for roughly $1 billion.

The facilities, which are expected to produce an average of about 2.1 terawatt-hours (TWh) per year, are being acquired from Excelsior Energy Capital, a fund focused on renewable energy assets. The deal is projected to close in the third quarter of 2026, according to Enel.

Following the acquisition, Enel’s renewable energy capacity in North America would reach approximately 13 gigawatts (GW). Globally, Enel’s renewables division, Enel Green Power, operates 68 GW of wind, solar, geothermal, and hydroelectric power, as well as energy storage facilities.

Meanwhile, US President Donald Trump has frequently criticized renewable energy as unreliable and has sought to block new offshore wind projects, favoring coal instead, despite its environmental impact. Recently, the Trump administration finalized a rule repealing stricter environmental regulations on coal and oil-fired power plants enacted under former President Joe Biden, claiming it restores "American energy dominance."

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