Subsidiaries of the multinational power company complete the acquisition of 625 MW of solar capacity from Excelsior Energy Capital.
Subsidiaries of Enel have completed the acquisition of the Faraday and Skyhawk solar plants from North American clean energy investor Excelsior Energy Capital. The total consideration for the transaction is approximately $760 million, which equals about 655 million euros based on exchange rates on 10 September 2026.
The transaction follows a purchase and sale agreement signed in February 2026 and the completion of required regulatory reviews. Through the sale, Excelsior fully exits its interest in both facilities across two funds: its $504 million inaugural fund closed in 2020, and its $1 billion second fund closed in April 2025.
The deal adds 625 MWAC of contracted solar capacity to Enel, which operates in 27 countries worldwide. Faraday is a 525 MWAC solar facility in Utah County, Utah, that reached commercial operation in September 2025 and holds a 20-year power purchase agreement with PacifiCorp under Rocky Mountain Power's Schedule 34 tariff. Skyhawk is a 100 MWAC plant in Obion County, Tennessee, operating commercially since 2023 with a long-term power purchase agreement with the Tennessee Valley Authority.
Newsletter
Markets in your inbox, weekly
LATAM-focused analysis, investing ideas, and the week in finance.
