The Italian energy mogul, Enel, entered into an agreement with Gulf Pacific Power to expand its renewable energy portfolio in the United States that includes a $50 million cash payment, but also with a swap of ownership in wind farm operations. Enel announced the agreement is framed through its U.S. subsidiary, Enel Green Power North America.
The agreement illustrates Enel’s commitment to growing renewable energy and remaining concentrated on the future of energy production, even as the Trump Administration exemplifies staunch support of oil and gas production. Enel stands to increase its consolidated renewable energy capacity here in the United States by 285 megawatts, making it a pillar in the domestic clean energy sector.
Enel’s deal with Gulf Pacific Power promises additional opportunities. The company will further grow its already robust portfolio with multiple wind farm holding companies, while additionally projecting almost $50 million in additional annual ordinary EBITDA with almost $20 million in responsive debt.
Even with the debt, however, Enel plans to accelerate renewable energy activity and growth with a focus on North America as a target area for its expansion plans. The Gulf Pacific Power transaction not only strengthens renewable generation capacity, but it also enhances economic growth over an extended time period.
While investment opportunities have remained viable in the renewable sector, Enel plans to leverage this new deal and move forward as a major player in the U.S. wind energy market and lead the way in the energy transition. Some, however, might see that transition as a far off dream instead of a reality with President Trump’s “Big Beautiful Bill” taking shape.
The House of Representatives passed President Trump’s “Big Beautiful Bill” on May 22, 2025, and will extend tax cuts stemming from the 2017 Tax Cuts and Jobs Act while simultaneously dialing back the efforts of the Inflation Reduction Act to gain a source of funding. Clean energy tax credits are expected to take a hit, and that could prove significant to the wind energy sector. Deployment of new projects could see a lull and potentially jeopardize domestic energy industry employment.
Forecasting a snapshot of the long term, clean energy projects, including wind, almost ensure a decrease in progress. Not only is an accelerated phasedown or reduced eligibility of clean energy tax credits promise to prevail, a transferability repeal on selected credits is also expected. Just as in the oil and gas industry, tax credits play a critical role in bringing renewable energy projects from the design phase to completion. Without them, wind and other renewable markets are expected to suffer.
Still, Enel is posturing to move forward while the “Big Beautiful Bill” almost ensures a change in the renewable energy landscape. Responsible balance sheets and healthy growth will play critical roles in navigating the new playing field. Enel’s latest transaction promises a path forward to add to its renewable capacity, which amounted to 11,620 MW in the first quarter of the current year.
Nick Vaccaro is a freelance writer and photographer. In addition to providing technical writing services, he is an HSE consultant in the oil and gas industry with twelve years of experience. Vaccaro also contributes to SHALE Oil and Gas Business Magazine, American Oil and Gas Investor, Oil and Gas Investor, Energies Magazine and Louisiana Sportsman Magazine. He has a BA in photojournalism from Loyola University and resides in the New Orleans area. Vaccaro can be reached at 985-966-0957 or nav@vaccarogroupllc.com.
