Enel — M&A Activity 2026

Feb 21, 2026

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Data/Ora Ricezione : 21 Febbraio 2026 07:34:38

Oggetto : Enel signed agreements for the acquisition of

an 830 MW portfolio of wind and solar plants in

USA

Testo del comunicato

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International Press Office Investor Relations

T +39 06 8305 5699 T +39 06 8305 7975 ufficiostampa@enel.com investor.relations@enel.com gnm@enel.com enel.com enel.com

ENEL SIGNED AGREEMENTS FOR THE ACQUISITION OF AN 830 MW PORTFOLIO OF WIND AND SOLAR PLANTS IN USA

• The agreements provide for the acquisition of a portfolio of renewable plants for a consideration of approximately 1 billion US dollars, which will bring at regime a positive contribution to Group results (ordinary EBITDA) of around 125 million euros per year

Rome, February 21 st, 2026 – Enel S.p.A. ("Enel"), acting through its wholly owned subsidiaries Enel Green Power North America1 and EGPNA Project Holdco 2 2 , signed agreements with Excelsior Energy Capital³ for the acquisition of a portfolio of wind and solar plants, located in the United States, with an overall installed capacity of 830 MW and an expected average output of around 2.1 TWh per year. The agreements provide for a consideration of approximately 1 billion US dollars (equivalent to around 850 million euros)⁴ subject to adjustments customary for these types of transactions. The enterprise value referred to 100% of the portfolio is approximately 1.3 billion US dollars⁵ . The consideration for the acquisition will be financed by cash flows from current operations.

Following the closing of the transaction, a positive net effect of approximately 145 million US dollars per year, equivalent to around 125 million euros⁴ , is estimated on the Enel Group´s consolidated ordinary EBITDA at regime. Furthermore, the Enel Group is expected to achieve in North America an installed capacity entirely from renewable sources of approximately 13 GW of wind, solar and storage facilities.

The closing of the transaction, expected in the third quarter of 2026, is subject to certain conditions precedent customary for these kinds of transactions, including the issuance of the authorizations required by applicable U.S. regulations6 .

The transaction is in line with the Enel Group's strategy, which envisages the growth of its generation capacity from renewable sources including through the acquisition of assets already in operation in Tier 1 countries (Brownfield).

¹ Enel Green Power North America Inc.

² EGPNA Project Holdco 2 LLC.

³ Excelsior Renewable Energy Intermediate Fund I LP.

⁴ Exchange rate at February 18th, 2026.

⁵ Considering the tax partnership agreement.

⁶ Specifically including the authorizations from the antitrust, from the Federal Energy Regulatory Commission and from the US government for Foreign Direct Investments.

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Enel is a multinational power company and a leading integrated player in the global power and renewables markets, present in 28 countries worldwide.

At global level, it is the largest renewable player, the foremost electricity distribution network player by number of grid customers served and the biggest retail operator by customer base[1] .

Enel generates electricity with approximately 93 GW of total capacity.  Enel Green Power, the Group's renewables arm, has a total capacity of approximately 68 GW and a generation mix that includes wind, solar, geothermal, and hydroelectric power, as well as energy storage facilities, installed in Europe, the Americas, Africa, Asia, and Oceania. Enel Grids, the Group's global business line dedicated to the management of the electricity distribution service worldwide, delivers electricity through a network of 1.8 million kilometers with 69 million end users connected to its distribution grids. Enel Commercial is the Group's arm dedicated to customers around the world with the aim of effectively providing products and services based on their energy needs and encouraging them towards a more conscious and sustainable use of energy. It provides electricity, gas and integrated services to more than 29 million customers globally including households, enterprises, industries and public administrations. In addition, it offers flexibility services aggregating 9.9 GW and has 31,300 owned public charging points for electric mobility.

[1] Enel's leadership in the different categories is defined by comparison with FY2024 data and results of relevant comparable listed companies, excluding those with predominant state control.

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