Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTWeekly renewables M&A round-up (Aug 16-20)
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August 20 (Renewables Now) - Renewables Now covered M&A stories about Glencore, BlackRock, Blackstone and others over the past week. Below is the full list:
-- RES keeping Support Services in France after Hanwha deal
UK-based renewables developer RES Group confirmed that it has agreed to sell its development and construction platform in France to Hanwha Solutions Corporation (KRX:009830), noting that the deal does not include the Support Services business.
-- EC clears EDF, GIG acquisition of French solar biz with 2.4-GW portfolio
The European Commission (EC) has greenlighted the proposed majority acquisition of France-based agrivoltaic specialist Green Lighthouse Development (GLHD) by EDF Renouvelables and Lumani Energy Ltd.
-- Ignitis to buy 160 MW of early-development wind projects in Latvia
Lithuanian utility Ignitis Group (VSE:IGN1L) has sealed conditional agreements for the acquisition of roughly 160 MW of wind projects under development in Latvia.
-- Bluefield Solar grows portfolio with wind, solar, storage acquisitions in UK
Bluefield Solar Income Fund Ltd (LON:BSIF) said it has acquired a 13-MW portfolio of onshore wind turbines and a 45-MWp shovel-ready solar project with 25 MWp of co-located battery storage in the UK.
-- Buckeye buys 270-MW solar project in Texas
US petroleum distributor Buckeye Partners LP has acquired a 270-MW solar project in Texas from OCI Solar Power LLC, the companies said.
-- Low Carbon enters Finland with 30-MW wind acquisition
UK-based Low Carbon Investment Management Ltd has acquired a 30-MW wind farm project in Finland in a deal that marked its entry into the Finnish renewable energy market.
-- India's ReNew Power to list on Nasdaq next week
The shareholders of RMG Acquisition Corporation II (NASDAQ:RMGB) have given their nod to the blank check company’s merger with India’s ReNew Power Pvt Ltd and the deal is to be completed on August 23.
-- Glencore buys into UK battery maker Britishvolt under cobalt supply agreement
Anglo-Swiss miner and commodities trader Glencore Plc (LON:GLEN) has acquired an unspecified stake in UK battery manufacturing start-up Britishvolt Ltd as part of a newly-agreed strategic partnership for the supply of ethically-sourced cobalt needed for the production of lithium-ion battery cells for electric vehicles (EV).
-- Capital Dynamics launches renewables platform Arevon Energy
A new US renewable energy company, called Arevon Energy Inc, has been created by combining the US Clean Energy Infrastructure team of Switzerland-based private asset management firm Capital Dynamics and Arevon Asset Management, Capital Dynamics' former exclusive energy asset management affiliate.
-- BlackRock Real Assets to pour USD 100m in Korean solar developer
BlackRock Real Assets announced it has agreed to buy an equity stake in Korean solar developer Brite Energy Partners (BEP), with plans to provide it with more than USD 100 million in capital over time.
-- Sowitec sheds 400 MW of Brazilian solar to unnamed investor
German renewable energy developer Sowitec said it has offloaded an up to 400-MW solar project in Brazil to an unnamed international energy supply group.
-- Waste-to-hydrogen firm Raven SR gets investment from Chevron, 3 more
US waste-to-hydrogen outfit Raven SR Inc said it has closed a strategic investment of USD 20 million from high-profile investors such as US oil group Chevron Corp (NYSE:CVX), through Chevron USA Inc, and Japanese trader Itochu Corporation (TYO:8001).
-- Nexamp bags USD 680m in new funding to grow solar offerings
US distributed solar and storage developer Nexamp Inc said it has secured a total of USD 680 million in fresh funds to speed up growth and enable the expansion of its portfolio of decarbonisation solutions.
-- Endesa acquires 48 MW of Spanish solar projects from Arena Power
Spanish electric utility Endesa SA (BME:ELE) has acquired a 48-MWp portfolio of solar projects at home from Arena Power, a compatriot developer and an emerging independent power producer (IPP).
-- Aventron, ASI form small hydro and wind JV in Norway
Swiss green power producer Aventron AG has agreed to combine its small-scale hydropower portfolio in Norway with that of asset manager Aberdeen Standard Investments (ASI) into a new entity that also holds wind power assets.
-- SSE buys 50-MW battery storage project in UK, eyes more
UK utility SSE Plc (LON:SSE) has acquired the project development rights for a 50-MW battery storage project at a consented site in South West England from Harmony Energy Ltd.
-- Finerge, Guild Invetment to jointly control wind farms in Portugal
Portuguese renewable power company Finerge SA and Guild Investments Limited have announced their intentions to jointly own wind farm developer Empresas ACM.
-- BlackRock Real Assets acquires Western US-focused renewables developer
BlackRock Real Assets has recently taken over National Renewable Solutions (NRS), a Minneapolis-based developer of early-stage wind and solar projects in the US with a pipeline that surpasses 3.5 GW.
-- Korea’s CS Wind seeks regulatory nod to acquire ASM Industries
South Korean steel wind towers maker CS Wind Corp (KRX:112610) has notified Portugal's competition watchdog of its intention to gain exclusive control over local sector player ASM Industries SA (ASMI) and its subsidiaries.
-- Innergex, Hydro-Quebec to buy 60-MW hydro portfolio in New York
Canadian renewable power producer Innergex Renewable Energy Inc (TSE:INE) and a unit of Hydro-Quebec have agreed to jointly acquire the Curtis Palmer run-of-river hydroelectric portfolio in New York for at least USD 310 million.
-- Blackstone funds to invest up to USD 500m in Array Technologies
Private equity funds managed by Blackstone Energy Partners have committed to pour USD 350 million into US solar tracker maker Array Technologies Inc (NASDAQ:ARRY), with the option to invest more.
-- Soltage, Harrison Street invest in 20-MW solar portfolio in Eastern US
US independent power producer Soltage LLC and investment manager Harrison Street have jointly invested in a 20-MW solar portfolio across the states of North Carolina, South Carolina and Maine.
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