Finance
Italy's Enel to raise US green energy capacity with wind farms swap
Published by Global Banking & Finance Review®
Posted on May 26, 2025
1 min readLast updated: January 23, 2026
Quick Summary
Enel expands its US green energy capacity by 285 MW through a wind farm asset swap with Gulf Pacific Power, enhancing its renewable strategy.
Enel Expands US Green Energy Capacity with Wind Farm Asset Swap
MILAN (Reuters) -Italy's biggest utility Enel has signed a swap deal with U.S. Gulf Pacific Power covering some wind farm assets which will boost its net consolidated green capacity in the United States by 285 megawatts, it said on Monday.
WHY IT'S IMPORTANT
The deal is part of Enel's strategy to up its generation capacity from renewable sources also through the acquisition of so-called 'brownfield' assets, which are projects already in operation.
Enel's total net installed consolidated green capacity in the United States amounted to 11,620 MW in the first quarter of 2025.
BY THE NUMBERS
Enel, through its subsidiary Enel Green Power North America, will pay GPP about $50 million, subject to an adjustment mechanism.
It did not specify the assets that will be included in the agreement. The deal, when completed, will boost the group's ordinary earnings before interest, taxes, depreciation and amortisation (EBITDA) by approximately $50 million.
The transaction will increase its net financial debt by about $20 million.
(Writing by Francesca Landini; Editing by Jan Harvey)
Key Takeaways
- •Enel signs a swap deal with Gulf Pacific Power.
- •The deal boosts Enel's US green capacity by 285 MW.
- •Enel's strategy focuses on acquiring brownfield assets.
- •The transaction will increase Enel's EBITDA by $50 million.
- •Enel's net financial debt will rise by $20 million.
Frequently Asked Questions about Italy's Enel to raise US green energy capacity with wind farms swap
1What is the purpose of Enel's swap deal with Gulf Pacific Power?
The swap deal aims to boost Enel's net consolidated green capacity in the United States by acquiring wind farm assets.
2How much will Enel pay for the assets in the swap deal?
Enel will pay approximately $50 million to Gulf Pacific Power, subject to an adjustment mechanism.
3What will be the impact on Enel's financial debt from this transaction?
The transaction will increase Enel's net financial debt by about $20 million.
4What is Enel's total net installed green capacity in the US?
As of the first quarter of 2025, Enel's total net installed consolidated green capacity in the United States was 11,620 MW.
5What type of assets is Enel focusing on acquiring?
Enel is focusing on acquiring 'brownfield' assets, which are projects that are already in operation.
