Weekly renewables M&A round-up (Apr 30-May 6)

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May 7 (Renewables Now) - Below you can find a list of Renewables Now stories related to merger and acquisition (M&A) and asset purchase/divestiture deals that originated in the week April 30 - May 6:

-- Fred Olsen sells minority stakes in 75 MW of Scottish wind

Funds managed by Aviva Investors Global Services Ltd have agreed to buy from Fred Olsen Renewables AS a 49% stake in the firm that holds two Scottish wind farms totalling 75.3 MW.

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-- Greencoat closes Dromadda More wind farm acquisition

Greencoat Renewables Plc (LON:GRP) said it has concluded its previously announced acquisition of the 36-MW Dromadda More wind farm in County Kerry, Ireland.

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-- LIC, Principia formally become offshore wind partners

Danish firm LICengineering A/S has joined forces with fellow engineering company Principia of France to tackle the offshore wind power industry, it was announced.

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-- Convergent buys 40 MW of flywheel energy storage in US

Energy storage assets operator Convergent Energy + Power said it has acquired 40 MW of flywheel capacity in New York and Pennsylvania, operational since 2011 and 2014, respectively.

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-- ReNew Power buying Indian wind power producer IEL

Indian renewables company ReNew Power Ventures Pvt Ltd is acquiring domestic wind power producer Indian Energy Limited (IEL) in a deal that will expand its operational wind power capacity to 1,800 MW.

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-- ReneSola sells minority stake in China DG unit to strategic investor

Chinese solar project developer ReneSola Ltd (NYSE:SOL) has brought in a strategic investor for its distributed generation (DG) business in China.

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-- Gresham House to buy UK forestry and renewables investor FIM

UK asset management company Gresham House Plc (LON:GHE) has entered into an agreement to acquire FIM Services Ltd, an alternative investment fund manager that focuses on forestry and renewables.

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-- RIVE, Mirova buy 60-MW French wind project from Nordex

Natixis Asset Management’s Mirova and RIVE Private Investment have bought the 60-MW Le Douiche shovel-ready wind project in France from Germany’s Nordex (ETR:NDX1), the latter announced.

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-- Brazil's CVM rules China State Grid should recalculate CPFL bid price

The board of Brazil's Securities and Exchange Commission (CVM) has given State Grid Corporation of China 30 days to recalculate the price at which it would buy out minorities in CPFL Energias Renovaveis (BVMF:CPRE3), Reuters reports.

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-- Parkwind acquires 247-MW German offshore wind project

Belgian offshore wind developer Parkwind NV has acquired a 247-MW wind project in the Baltic Sea that was recently successful in Germany's second offshore wind power auction.

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-- EDF buys 450-MW Scottish offshore wind project from Mainstream

France’s EDF Group has acquired the up to 450-MW Neart na Gaoithe offshore wind project in Scotland from developer Mainstream Renewable Power, the two companies announced.

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-- TerraForm Power's bid for Saeta to run through June 1

TerraForm Power Inc’s (NASDAQ:TERP) takeover bid for Spanish renewables yieldco Saeta Yield SA (BME:SAY) will expire on June 1, 2018.

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-- Brazil's Renobrax seeks partners to bid for Eletrobras wind farms - report

Brazilian renewables developer Renobrax Energias Renovaveis is looking for partners to make a joint bid for 583 MW of wind farms owned by state-run Eletrobras, an official told Reuters.

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-- Renova rejects Cemig proposal for small HPP firm in Brazil

Brazilian renewables company Renova Energia SA (BVMF:RNEW11) has declined the offer made by utility Cia Energetica de Minas Gerais SA (BVMF:CMIG4) for its small hydropower (HPP) subsidiary.

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-- Danish GWS acquires Total Wind's offshore and blade ops

Danish firm Global Wind Service A/S (GWS) said it has bought the offshore and blade-related operations of domestic wind services provider Total Wind A/S, which recently entered bankruptcy proceedings.

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-- Italian energy majors vying for Terra Firma’s solar platform RTR - report

Italy’s Enel SpA (BIT:ENEL), asset manager F2i SGR and energy group ERG SpA (BIT:ERG) are all competing in an auction for the acquisition of Italian solar power producer RTR Rete Rinnovabile and its 334-MW portfolio, Reuters reports, citing unnamed sources.

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-- Brazil's Energisa gives up on buying Eletropaulo

Brazilian electricity distributor Energisa SA (BVMF:ENGI3) has abandoned its plan to acquire local sector player Eletropaulo Metropolitana Eletricidade de Sao Paulo SA (BVMF:ELPL3).

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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