EGPNA has agreed to a net cash consideration of $50m, subject to customary adjustments.
Under the deal, EGPNA will raise its indirect equity stake in certain wind farm-owning corporate entities to 51%, in exchange for its stakes in other wind farms and a net cash payment of $50 million, subject to standard adjustments. This transaction will add 285MW to Enel’s net installed consolidated capacity in the U.S., supporting its goal to expand renewable energy generation through strategic asset acquisitions.
The swap is expected to positively impact Enel Group’s financial performance, contributing an estimated $50 million annually to its consolidated ordinary earnings before interest, taxation, depreciation, and amortization. However, it will slightly increase the group’s net financial debt by approximately $20 million. The agreement’s completion depends on approvals from the U.S. Federal Energy Regulatory Commission and the consent of tax equity partners.
EGPNA’s CEO, Paolo Romanacci, stated: “This transaction marks a significant step in our strategy to grow our renewable energy presence in the U.S. market. By optimizing our asset portfolio, we are enhancing our capacity to deliver clean, sustainable energy.” The deal aligns with Enel’s broader commitment to advancing renewable energy, particularly through operational assets that support long-term sustainability goals.
As of the first quarter of 2025, Enel’s net installed consolidated renewable capacity in the U.S. stood at 11.62GW, reflecting steady growth in its clean energy operations. The company also reported revenues of €22 billion ($23.8 billion) for the same period, a 13.6% increase compared to the first quarter of 2024, underscoring its strong financial performance.
In a related development, Enel North America signed a power purchase agreement with technology company Meta in February 2025. The agreement covers a 115MW portion of the Rockhaven wind farm in Oklahoma, further expanding Enel’s renewable energy partnerships in the U.S.
