Enel Expands U.S. Renewable Portfolio with $50M Wind Farm Deal

Enel (BIT:ENEI), the Rome-headquartered energy giant, has signed a key agreement with Gulf Pacific Power to boost its renewable energy footprint in the United States. The deal includes a cash payment of approximately $50 million and a swap of ownership in entities operating wind farms.

The transaction, disclosed on Monday, is structured through Enel’s U.S. subsidiary, Enel Green Power North America. The strategic swap will increase Enel’s consolidated renewable energy capacity in the U.S. by 285 megawatts, further strengthening its position in the American clean energy market.

As of Q1 2025, Enel’s total consolidated renewable capacity stood at 11,620 megawatts. The new agreement marks a significant step toward expanding that portfolio, reflecting Enel’s continued investment in sustainable energy and carbon reduction initiatives.

The company also expects to boost its indirect equity stake in several wind farm holding companies via this deal. Financially, the transaction is projected to contribute roughly $50 million in additional annual ordinary EBITDA, reinforcing Enel’s earnings from its renewable operations. However, the company estimates an increase of about $20 million in net financial debt as a result of the transaction.

This move is in line with Enel’s broader strategy to accelerate renewable energy growth, particularly in North America, a region central to its global expansion goals. The acquisition enhances Enel’s renewable generation capabilities while supporting long-term earnings growth through clean energy assets.

With growing investor interest in green energy stocks, this deal positions Enel as a more prominent player in the U.S. wind energy market and underscores its commitment to sustainability and energy transition.