Enel acquires 650 MW of renewable capacity from U.S. joint venture
This transaction aims to increase Enel’s consolidated capacity in the U.S. market, using strategic renewable technologies.
Enel S.p.A., Rome, Italy, and its renewable subsidiary Enel Green Power North America Inc. (EGPNA), Andover, Mass., acquired seven fully operational renewable plants totaling 650 MW from Enel Green Power North America Renewable Energy Partners, LLC (EGPNA REP), an equally owned joint venture between EGPNA and GE Capital’s Energy Financial Services, the Stamford, Conn.-based energy investing arm of General Electric, for $900 million.
The assets under the transaction, which are all managed and operated by EGPNA, entail:
- The 25 MW geothermal plant in Cove Fort, Utah;
- The 13.4 MW geothermal plant in Salt Wells, Nev.;
- The 59.5 MW geothermal-solar facility in Stillwater, Nev.;
- The 400 MW wind farm in Cimarron Bend, Kan.;
- The 150 MW wind farm in Lindahl, N.D.;
- The 2.4 MW solar PV facility in Sheldon Springs, Vt.
In line with the group’s 2019-2021 strategic plan, this transaction aims to increase Enel’s consolidated capacity in the U.S. market, using strategic renewable technologies.