Italian power company Enel announced Monday it has agreed to acquire seven solar plants in the United States for roughly $140 million, including debt.
The plants, located in Virginia, North Carolina, and South Carolina, have a combined capacity of about 270 megawatts and an average annual production of 0.4 terawatt-hours. The deal will be executed through Enel Green Power North America.
Once completed, the acquisition is expected to add about $20 million per year to Enel's ordinary EBITDA. The company will fund the transaction using available cash.
The deal is expected to close by the end of 2026, pending regulatory approvals. It aligns with Enel's strategy to accelerate growth in renewable generation capacity.
