Enel Launches Renewable Energy Retail Business In Select US Markets

• Enel North America to supply C&I companies with competitively priced renewable energy
• C&I companies can now directly purchase competitively priced renewable energy from Enel's generation assets
• This move will enable C&I organizations to make progress with their net zero carbon commitment
• This is the fourth expansion announcement by Enel in 2022

Enel North America announced that it will supply commercial and industrial (C&I) companies with competitively priced renewable energy. This will initially be applicable to Texas and will then spread to select US markets.

With this move, C&I organizations can now directly purchase competitively priced renewable energy from Enel's generation assets, enabling them to advance their net zero and sustainability goals without making long-term financial commitment and signing power purchase agreements.

With its over 4 GW of renewable projects operational or under construction in Texas, Enel is all set to serve the customers there. Down the line, the subsidiary of Italy based Enel Group, plans to expand to other deregulated states such as Ohio, Illinois and Pennsylvania.

Speaking about this expansion, Greg Rizzo, Head of PPA and Renewable Energy Solutions at Enel North America,  said, "Our customers are increasingly seeking alternative ways to purchase renewable energy without having to take a long-term financial position in today's increasingly volatile and uncertain market. While we continue to be a market leader in PPAs, that structure may not be the best fit for every customer. The launch of Enel's retail offering enables us to meet the needs of all our customers and support them through their entire decarbonization journey.

The entry Enel has made into the US retail energy market complements its comprehensive suite of energy offerings. Leveraging from its expansive renewables portfolio and global expertise as one of the largest energy providers, Enel has been announcing major business expansions in 2022, this being the fourth in sequence. This expansion drive has also been to capture the opportunities and incentives that Inflation Reduction Act had brought about to meet market demand.

Earlier, Enel had announced the additions of Enel X Way, a new business line dedicated to electric mobility, and Gridspertise, a grid modernization subsidiary, in North America. Enel also revealed its intention to open a large-scale PV solar panel and cell manufacturing facility in the US.

In another development, Enel North America's 3Sun USA, LLC announced to build a 3 GW bifacial HJT solar cell and module fab in the US (see More Europeans Heading To US For Solar Manufacturing)