- Enel North America will leverage its global expertise as the world’s largest retail energy provider and expansive renewables portfolio to supply C&I companies with competitively priced renewable energy in select deregulated US markets, starting with Texas.
- The launch of Enel’s retail energy offering in the US follows several other major business expansions announced in 2022 as the company looks to seize the opportunities and incentives brought about by the Inflation Reduction Act to meet market demand.
HOUSTON, Nov. 23, 2022 /PRNewswire/ — Enel North America, a subsidiary of the world’s largest retail energy provider, the Enel Group, today announced the launch of its retail energy business in select deregulated US states, starting with Texas. The move enables commercial and industrial (C&I) organizations to purchase competitively priced renewable energy directly from Enel’s generation assets, allowing them to advance their net zero and sustainability goals without having to make the long-term financial commitment of signing a power purchase agreement (PPA).
Enel is now ready to serve customers in Texas, where it has over 4 GW of renewable projects operational or under construction. The company plans to expand into other deregulated states including, but not limited to, Ohio, Illinois and Pennsylvania in 2023.
“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,” says Greg Rizzo, Head of PPA and Renewable Energy Solutions, Enel North America. “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 energy offering enables us to meet the needs of all our customers and support them through their entire decarbonization journey.”
Enel’s entrance into the US retail energy market complements its comprehensive suite of energy offerings. Enel has around 70 million retail energy customers globally and has supported the decarbonization efforts of major companies in North America, including Mondelēz International, Clorox, Danone, Home Depot, Lululemon and more. The company’s expansive renewables portfolio and industry-leading advanced energy services offer customers the flexibility to bundle and customize services to meet their unique needs.
The launch of Enel’s retail energy offering follows several other business expansions announced in 2022. Earlier this year, Enel 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. The expansions are part of a larger growth strategy as Enel looks to seize the opportunities and incentives brought about by the Inflation Reduction Act to meet market and customer demand.
As demand for clean energy rises, Enel continues to commit billions of dollars in new capital for the deployment of energy resources in North America. At the company’s annual Capital Markets Day presentation to investors on November 22, Enel announced plans to invest around $5 billion in the North American market, with the aim to develop approximately 5 GW of new utility-scale renewable and battery energy storage capacity through 2025. Additionally, Enel intends to add 155 MW of distributed energy storage, 37 MW of demand response, and 475,000 charging ports by 2025.
To learn more about Enel’s retail energy offering, visit enelnorthamerica.com/retail.
About Enel in North America
Enel North America, part of the Enel Group, is a clean energy leader in North America and is working to electrify the economy and build a net-zero carbon future by decarbonizing energy supply, electrifying transportation, creating resilient grids, and promoting a just, equitable transition. Enel North America serves over 4,500 businesses, utilities, and cities through renewable power generation, demand response, distributed energy resources, smart e-mobility solutions and services, energy trading, advisory and consulting services, and more. Its portfolio includes over 8 GW of utility-scale renewable capacity, 606 MW / 882 MWh of utility-scale energy storage and 63 MW / 145 MWh of distributed energy storage capacity, 4.7 GW of demand response capacity, and 110,000 electric vehicle charging stations. Visit enelnorthamerica.com and follow us on LinkedIn, Twitter, and YouTube to learn more.
SOURCE ENEL – North America