Enel Group business unit Enel North America has launched its clean energy retail business in Texas, as part of its wider effort to expand in deregulated US states.
Electrek reported that the renewable energy resources owned by Enel in North America total 8 GW. Apart from that, the company already possesses sustainable energy projects operating or under construction in Texas, totaling more than 4 GW.
Notably, it intends to penetrate additional states with deregulated markets, such as Ohio, Illinois, and Pennsylvania, by next year.
Enel North America claims that its US expansion was necessary to meet market demand and was made possible by the Inflation Reduction Act.
Greg Rizzo, Enel North America’s Head of PPA and Renewable Energy Solutions, stated:
“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.”
Enel’s investments in North America
According to reports, one of the biggest solar PV plants in the US will begin construction on November 17, thanks to Enel North America and its partner 3Sun USA. Through this, bifacial PV modules and cells are anticipated to be produced yearly in initial quantities of at least 3 GW and increasing to 6 GW.
Apart from that, Enel revealed plans to invest roughly $5 billion in the North American market during its annual Capital Markets Day presentation to investors. Through this investment, the company intends to produce about 5 GW of battery energy storage capacity and new utility-scale renewable by 2025.
In the same year, Enel North America also intends to develop 475,000 charging ports, 155 MW of distributed energy storage, and 37 MW of demand response.
Remarkably, Enel continues to invest billions of dollars for the development of energy resources in North America as the demand for clean grows.
