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)
