Excelsior Energy Sells Two Solar Plants to Enel for $760M

A significant clean energy transaction has closed in North America, as Excelsior Energy Capital finalized the sale of two utility-scale solar plants — Faraday and Skyhawk — to subsidiaries of Enel S.p.A. for approximately $760 million. The deal marks a notable exit for the Minnesota-based independent renewable energy investor, which has positioned itself as a specialist in developing and monetizing clean energy assets across the continent.

Enel, the Italian multinational power company, operates across 27 countries and has established itself as one of the world's most active integrated players in renewables. The acquisition of the Faraday and Skyhawk plants deepens its footprint in the U.S. solar market at a moment when domestic clean energy capacity is under intense competitive pressure from both domestic developers and global capital. For Enel, bolt-on acquisitions of operating or near-operating solar assets offer a faster path to capacity growth than greenfield development alone.

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For Excelsior Energy Capital, the transaction illustrates the broader playbook that independent renewable developers increasingly rely on: build or advance projects to a mature stage, attract institutional-grade buyers, and recycle capital into new development pipelines. A $760 million headline figure for two solar plants signals that premium valuations remain achievable for well-structured clean energy assets, even as interest rates have complicated project finance across the sector.

The deal underscores the continued appetite among global utilities to expand U.S. renewables exposure, with European majors like Enel treating North America as a core growth market. As the energy transition accelerates, transactions of this scale are likely to remain a defining feature of the clean power landscape. Continue reading at BusinessWire.