Weekly renewables M&A round-up (Aug 1-5)

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August 5 (Renewables Now) - Renewables Now covered M&A stories about Iberdrola, Bill Gates' BEV, Warburg Pincus, KKR and others in the past week. Below is the full list:

-- AIMCo, Railpen buy 94% of UK energy storage platform with GBP-400m pipeline

UK railways pension scheme Railpen and the Alberta Investment Management Corporation (AIMCo) have jointly bought a 94% stake in UK battery energy storage platform Constantine Energy Storage, the buyers said without disclosing the size of their investment.

Read more: https://renewablesnow.com/news/aimco-railpen-buy-94-of-uk-energy-storage-platform-with-gbp-400m-pipeline-793310/

-- Genex Power rejects Skip-Stonepeak takeover offer, wants higher bid

Australia’s Genex Power Ltd (ASX:GNX) turned down a AUD-319-million non-binding takeover proposal from a tie-up of investors including shareholder Skip Capital as the bid undervalues the company but said it is still open to a better offer.

Read more: https://renewablesnow.com/news/genex-power-rejects-skip-stonepeak-takeover-offer-wants-higher-bid-793321/

-- Prime Capital buys 70-MW shovel-ready wind project in Sweden

German independent asset manager Prime Capital AG has acquired a 70-MW ready-to-build wind project in Sweden from local developer Krafto.

Read more: https://renewablesnow.com/news/prime-capital-buys-70-mw-shovel-ready-wind-project-in-sweden-793325/

-- EDP to sell stake in hydropower JV to China Three Gorges

EDP - Energias de Portugal SA (ELI:EDP) has agreed to sell its entire 50% participation in Hydro Global Investment Ltd, whose main asset is the 209-MW San Gaban III hydro project in Peru currently under construction.

Read more: https://renewablesnow.com/news/edp-to-sell-stake-in-hydropower-jv-to-china-three-gorges-793329/

-- JLEN Environmental invests in 50-MW permitted Scottish battery project

British infrastructure fund JLEN Environmental Assets Group Ltd (LON:JLEN) said it has acquired a 50% interest in a company that owns the development rights for a 50-MW energy storage project in Scotland’s Aberdeenshire.

Read more: https://renewablesnow.com/news/jlen-environmental-invests-in-50-mw-permitted-scottish-battery-project-793333/

-- Actis to take controlling stake in Dubai's solar platform Yellow Door Energy

Private equity firm Actis has struck a deal to acquire a controlling interest in Dubai-based solar platform Yellow Door Energy Ltd with over 200 MW of secured production capacity.

Read more: https://renewablesnow.com/news/actis-to-take-controlling-stake-in-dubais-solar-platform-yellow-door-energy-793350/

-- Iberdrola inks prelim deal to buy 98 MW of wind, solar in Poland

Spanish utility group Iberdrola SA (BME:IBE) announced it has executed a preliminary agreement to acquire 98 MW of wind and solar projects under construction in Poland.

Read more: https://renewablesnow.com/news/iberdrola-inks-prelim-deal-to-buy-98-mw-of-wind-solar-in-poland-793368/

-- Bidders line up for piece of Iberdrola’s Wikinger offshore wind farm - report

Several investors are said to be considering making bids for a minority stake in Spanish utility group Iberdrola SA's (BME:IBE) 350-MW Wikinger wind farm in German waters of the Baltic Sea, Reuters reported, citing people familiar with the matter.

Read more: https://renewablesnow.com/news/bidders-line-up-for-piece-of-iberdrolas-wikinger-offshore-wind-farm-report-793409/

-- ArcLight's Sequitur to buy 185-MW wind portfolio in PJM market

Sequitur Renewables LLC, an affiliate of private equity firm ArcLight Capital Partners LLC, will acquire a 185-MW wind farm portfolio with assets located in the states of Pennsylvania and West Virginia from GlidePath Power Solutions LLC.

Read more: https://renewablesnow.com/news/arclights-sequitur-to-buy-185-mw-wind-portfolio-in-pjm-market-793441/

-- Cypress Creek buys 100-MW New York solar project from Carson Power

US renewable energy plants developer and operator Cypress Creek Renewables said it has bought a 100-MW solar photovoltaic (PV) project in New York from local clean energy project developer Carson Power.

Read more: https://renewablesnow.com/news/cypress-creek-buys-100-mw-new-york-solar-project-from-carson-power-793514/

-- Longroad gets fresh capital to support 8.5-GW renewables ambition

US renewables developer Longroad Energy Holdings LLC said it has secured USD 500 million in equity investments from existing and new shareholders to back a massive expansion of its wind, solar and storage project portfolio to 8.5 GW over the next five years.

Read more: https://renewablesnow.com/news/longroad-gets-fresh-capital-to-support-85-gw-renewables-ambition-793531/

-- CenterPoint Energy seeks nod to buy 130-MW solar project from Invenergy

Texas-based investor-owned electric and gas utility CenterPoint Energy Inc (NYSE:CNP) is seeking approval from the Indiana regulators to acquire a 130-MW solar park project from Chicago-based Invenergy LLC.

Read more: https://renewablesnow.com/news/centerpoint-energy-seeks-nod-to-buy-130-mw-solar-project-from-invenergy-793539/

-- Aussie electrolyser developer Hysata closes USD-30m funding round

Australian hydrogen electrolyser technology developer Hysata has raised AUD 42.5 million in an oversubscribed Series A funding round led by Virescent Ventures on behalf of the Clean Energy Finance Corporation (CEFC).

Read more: https://renewablesnow.com/news/aussie-electrolyser-developer-hysata-closes-usd-30m-funding-round-793547/

-- Antin to take control of Germany's Blue Elephant Energy

French private equity investor Antin Infrastructure Partners (EPA:ANTIN) has agreed to buy a majority stake in German renewables company Blue Elephant Energy AG (BEE) which operates a portfolio of 1.3 GW of wind and solar power plants in Europe and Latin America.

Read more: https://renewablesnow.com/news/antin-to-take-control-of-germanys-blue-elephant-energy-793550/

-- Israel's Doral takes green H2 path with 200-MW electrolyser partnership

Israeli renewable energy company Doral Group (TLV:DORL) intends to execute a large green hydrogen project pipeline around the world and in order to support this plan it has invested in an electrolyser developer to secure access to its technology.

Read more: https://renewablesnow.com/news/israels-doral-takes-green-h2-path-with-200-mw-electrolyser-partnership-793644/

-- Bill Gates fund invests in automated solar installation platform Terabase

Terabase Energy, a US start-up that provides software, automation and digital deployment solutions, has raised USD 44 million in a funding round led by Bill Gates’ Breakthrough Energy Ventures to commercialise its technology for automated solar plant construction.

Read more: https://renewablesnow.com/news/bill-gates-fund-invests-in-automated-solar-installation-platform-terabase-793731/

-- UK battery materials firm Nexeon secures further USD 90m to help scale up

UK-based battery materials developer and maker Nexeon announced a USD-90-million second close of a funding round now totalling USD 170 million.

Read more: https://renewablesnow.com/news/uk-battery-materials-firm-nexeon-secures-further-usd-90m-to-help-scale-up-793756/

-- Octopus, GLIL buying 12.5% in UK's Hornsea One complex

UK energy investor Octopus Energy Group and alternative investment fund GLIL Infrastructure have agreed to jointly acquire a 12.5% stake in 1.2-GW Hornsea One wind farm in UK waters in a deal worth GBP 400 million.

Read more: https://renewablesnow.com/news/octopus-glil-buying-125-in-uks-hornsea-one-complex-793832/

-- Italy's Innovatec targets EUR 100m in revenue from new solar business

Italian utilities holding company Innovatec SpA (​​BIT:INC) hopes that by 2024 it will be generating a turnover of EUR 100 million from a new business unit dedicated to solar photovoltaics (PV) in the business-to-business (B2B) field.

Read more: https://renewablesnow.com/news/italys-innovatec-targets-eur-100m-in-revenue-from-new-solar-business-793962/

-- Greece's Motor Oil, Ellaktor to proceed with creation of renewables JV

Greek petroleum refiner Motor Oil (Hellas) Corinth Refineries said it has granted permission to its unit Motor Oil Renewable Energy Single Member (MORE) to proceed with a complex transaction with infrastructure group Ellaktor that will result in the creation of a joint renewable energy business valued at 1 billion euro.

Read more: https://renewablesnow.com/news/greeces-motor-oil-ellaktor-to-proceed-with-creation-of-renewables-jv-794011/

-- Hexicon raises stake in 1.3-GW floating wind project off Korea

Swedish floating wind specialist Hexicon AB (STO:HEXI) said it is lifting its stake in the 1.3-GW MunmuBaram floating wind project off the south-east coast of South Korea.

Read more: https://renewablesnow.com/news/hexicon-raises-stake-in-13-gw-floating-wind-project-off-korea-794012/

-- Warburg Pincus investment values Montana Renewables at USD 2.25bn

Montana Renewables LLC (MRL) has become fully capitalised through a couple of new transactions, including a preferred equity investment that values the US renewable fuel business at about USD 2.25 billion.

Read more: https://renewablesnow.com/news/warburg-pincus-investment-values-montana-renewables-at-usd-225bn-794074/

-- KKR reopens offer to buy rest of Albioma shares

US buyout firm KKR & Co Inc (NYSE:KKR) is reopening its friendly tender offer for French independent renewable energy producer Albioma SA (EPA:ABIO) after securing 83.44% of its share capital in the first offer period.

Read more: https://renewablesnow.com/news/kkr-reopens-offer-to-buy-rest-of-albioma-shares-794087/

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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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