Weekly renewables M&A round-up (Aug 2-6)

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August 6 (Renewables Now) - Renewables Now covered M&A stories about Azure Power, Naturgy and others over the past week. Below is the full list:

-- Petrobras to exit 25 MW of small HPPs in Brazil

Brazilian state-controlled oil and gas company Petroleo Brasileiro SA (BVMF:PETR4), or Petrobras, said it has signed an agreement to sell its interest in two small hydropower plants (HPPs) totalling 25.4 MW.

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-- Subsea 7 to take lion's share in floating wind foundation developer Nautilus

Offshore contractor Subsea 7 SA (OSL:SUBC) said it has agreed to buy a 59.12% stake in Nautilus Floating Solutions SL, a Spanish developer of floating wind foundations.

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-- Sweden's Hexicon buys consented Celtic Sea site for floating wind demo

Swedish floating wind outfit Hexicon has finalised the purchase of the Wave Hub renewables test site off Cornwall, South West England, that it plans to turn into a 30-MW-40-MW floating offshore wind farm using its twin-turbine foundation.

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-- Galp buys 223 MW of solar projects in Spain

Portuguese energy group Galp Energia SGPS SA (ELI:GALP) said it has agreed to acquire a 223-MW solar portfolio in Spain from Spanish solar company Enerland.

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-- Consortium inks deal to buy Beatrice offshore wind farm transmission assets

The SSE Renewables business of UK utility SSE plc (LON:SSE) announced a sale agreement for the offshore transmission assets (OFTO) of the 588-MW Beatrice wind farm in Scottish waters in line with UK energy regulator Ofgem’s OFTO regime.

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-- AES Indiana to buy 250-MW solar-plus-storage project

AES Indiana, a unit of The AES Corporation (NYSE:AES), intends to acquire the Petersburg solar project in Pike County, which includes 250 MW of solar power generating capacity and 180 MWh of energy storage.

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-- Torrent Power to buy 50-MW solar park in India

India’s Torrent Power Ltd has signed a deal to buy the special purpose vehicle (SPV) that holds a 50-MW solar power plant in the state of Maharashtra, it announced.

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-- Mercury, PowAR take full control of Tilt Renewables

Powering Australian Renewables (PowAR) and Mercury NZ Ltd have completed their acquisition of Aussie renewable power producer Tilt Renewables Ltd (ASX:TLT), the latter said.

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-- Infrastructure investor Omers to buy 19.4% of India's Azure Power

Canadian investor and asset manager Omers Infrastructure has agreed to acquire a 19.4% stake in Indian renewable power producer Azure Power Global Ltd (NYSE:AZRE) for some USD 219 million.

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-- Enlight closes Clenera acquisition, agrees to buy 490-MW Spanish pipeline

Israeli renewables developer Enlight Renewable Energy Ltd (TLV:ENLT) announced the completion of its acquisition of Clenera LLC and a deal to buy a Spanish solar project portfolio totalling 490 MW in direct current (DC).

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-- UK’s GSEO to spend GBP 50m on Australian distributed solar & storage

VH Global Sustainable Energy Opportunities plc (LON:GSEO) plans to invest GBP 50 million to buy distributed solar assets in Australia and add energy storage to them.

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-- Gresham House buys 50-MW solar project from Anesco

Gresham House New Energy has acquired a 50-MW solar project in Lincolnshire from renewables development partner Anesco, it was announced.

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-- Chile's Empresas Gasco to sell 50% of Atacama PV project vehicle

Chilean gas company Empresas Gasco said it has signed an agreement to sell a 50% stake in its special purpose vehicle (SPV) developing a 150-MW PV project in the region of Atacama.

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-- Greenbacker invests in Virginia solar, storage developer

US investment company Greenbacker Capital Management is backing a pipeline of solar and energy storage projects developed by Richmond, Virginia-based Commonwealth Energy Partners (CEP) in the home state.

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-- Renewables spending in H1 reaches new heights of USD 174bn - BNEF

The world has spent a record USD 174 billion on renewable energy projects and companies during the first six months of 2021, according to a new report by BloombergNEF (BNEF).

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-- Edison acquires 40 MW of wind capacity in Italy

Italian energy company Edison (BIT:EDNR) has acquired 40 MW of wind power assets located in the regions of Sicily and Puglia, increasing its presence in its home country.

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-- Masdar, Taaleri get EC nod for Greek solar JV

Finland’s Taaleri Energia Ltd and Abu Dhabi Future Energy Company PJSC, better known as Masdar, have obtained approval from the European Commission (EC) to set up a joint venture (JV) for a 65-MW solar project in Greece.

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-- IFM's offer for 22.7% stake in Naturgy is approved with conditions

Spain’s government approved with conditions the offer submitted by Australia’s IFM Global Infrastructure Fund (IFM GIF) to acquire up to 22.689% stake in Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY), calling the transaction a sign of international investor confidence in the Spanish economy.

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-- Enel to acquire ERG's hydroelectric business in Italy

Enel SpA (BIT:ENEL) has agreed to acquire the entire share capital of ERG Hydro Srl together with its 527-MW hydropower portfolio from Italian energy group ERG SpA (BIT:ERG).

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-- Innergex buys owner of 18-MW hydro plant in Chile

Canadian renewable power producer Innergex Renewable Energy Inc (TSE:INE) has purchased a firm that owns and operates an 18-MW run-of-river hydroelectric station in Chile.

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-- Swire Energy Services buys Danish wind service provider ALL NRG

Swire Energy Services (SES) has made its second wind-focused purchase in 2021, acquiring Danish wind services provider ALL NRG, the buyer announced.

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-- EDPR to sell 149-MW wind portfolio in Poland to Mirova

EDP Renovaveis SA (ELI:EDPR) announced it has agreed to sell a 100% equity stake in a 149-MW Polish wind portfolio to Mirova, the sustainable investment unit of France's Natixis Asset Management.

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-- IFM GIF accepts Spanish govt's conditions to acquire stake in Naturgy

Australia’s IFM Global Infrastructure Fund (IFM GIF) announced that it accepts the conditions that the government of Spain imposed on its offer to acquire up to 22.689% interest in Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY).

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-- Eneti to buy wind turbine installation vessels owner Seajacks

Marine-based renewables company Eneti Inc (NYSE:NETI) said it has agreed to take over the parent of UK-based Seajacks International Ltd, the largest owner of purpose-built self-propelled wind turbine installation vessels (WTIV) in the world.

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-- Mubadala emerges as winner in process to buy small hydro co in Brazil

Brazilian renewables company Renova Energia SA (BVMF:RNEW11) confirmed that it has selected Emirati state-owned holding company Mubadala as the winner in the competitive process to buy its small hydropower (HPP) unit.

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-- BlueWave, Ciel & Terre set up floating solar JV in Massachusetts

Boston-based solar and energy storage developer BlueWave Solar and a unit of France’s Ciel & Terre have set up a joint venture (JV) to develop floating solar projects in Massachusetts.

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-- TotalEnergies may buy into 1.2-GW Dogger Bank C - report

French energy major TotalEnergies SE (EPA:TTE) is considering purchasing a roughly 20% interest in the 1.2-GW Dogger Bank C, the third phase of the Dogger Bank offshore wind complex in UK waters, Bloomberg reports.

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-- Mitsui invests in Indian biomass supply chain manager Punjab Renewable Energy

Japanese trader Mitsui & Co Ltd (TYO:8031) said it has injected INR 300 million into Indian biomass supply chain management company Punjab Renewable Energy Systems Pvt Ltd (PRESPL).

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-- Covanta minority investor unhappy with EQT offer, to vote against

A minority shareholder of Covanta Holding Corp (NYSE:CVA) has informed the US waste-to-energy (WtE) company that it will vote against its proposed USD-5.3-billion acquisition by EQT Infrastructure.

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-- Philippine’s AC Energy to form solar rooftop JV, posts 5% H1 profit rise

Philippine-based power company AC Energy Corp (PSE:ACEN) said it will form a joint venture (JV) with NEFIN Holding Ltd to develop, build and operate rooftop solar projects across Asia.

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-- Innova sells UK solar rooftop bundle to Octopus Renewables

Innova Energy, part of UK renewables and property-focused private equity company Innova Group, said it has sold its commercial rooftop solar portfolio.

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