We use cookies to improve your experience and for marketing. Read our cookie policy Manage cookies
Search across reports, market insights, and blog stories.
Enel, the Italian power utility, has acquired two US solar photovoltaic ventures totaling 625MW in generation capacity.
The Faraday and Skyhawk projects were purchased by the company’s subsidiaries from Excelsior Energy Capital, a clean energy investor based in the US, for roughly US$760 million. This deal stems from a purchase and sale agreement inked in February 2026, when Enel committed to taking over an 860MW portfolio of solar PV and wind power from Excelsior via its subsidiaries Enel Green Power North America and EGPNA Project Holdco 2.
Of the two solar installations, Faraday is the bigger one: a 525MW operational facility located in Utah County, Utah, secured by a 20-year power purchase agreement with PacifiCorp under Rocky Mountain Power’s Schedule 34 green energy tariff. Excelsior finalized US$1.3 billion in financing for this project in November 2023.
Skyhawk, a 100MW project in Obion County, Tennessee, has been operational since 2023 and likewise holds a long-term power purchase agreement with the Tennessee Valley Authority.
Alex Ellis, co-founder and partner at Excelsior Energy Capital, called the divestment of Faraday and Skyhawk a significant milestone for the firm. He noted that the deal demonstrates ongoing advancement in unlocking value and delivering capital back to investors, and highlights the robustness of the contracted renewable infrastructure the company develops, centered on assets supported by solid counterparties and long-term power purchase agreements.
The investor has backed two dedicated renewable energy investment vehicles, the Excelsior Renewable Energy Investment Funds. The second fund wrapped up in April 2025 with US$1 billion in committed capital, almost twice the amount of the first fund, which concluded in 2021. Both funds had invested in the Faraday and Skyhawk projects and have now divested their holdings.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Export
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
Instant access. No credit card needed.
Online access to 2M+ reports, dashboards, and tables. Trusted by Fortune 500 teams.
IndexBox, Inc.
2093 Philadelphia Pike #1441
Claymont, DE 19703, USA
Contact us
© 2026 IndexBox, Inc

source