- Press Releases
December 10 (Renewables Now) - Renewables Now covered M&A stories about Edison, Equinor, AES, Octopus Energy and others over the past week. Below is the full list:
-- Hellenic Petroleum buys 37.2 MW of wind parks in Greece's Evia
Greek energy group Hellenic Petroleum (ELPE) announced the acquisition of two wind farms totalling 37.2 MW at the island of Evia.
Read more: renewablesnow.com/news/hellenic-petroleum-buys-372-mw-of-wind-parks-in-greeces-evia-764160/
-- Edison sells stake in renewable arm at EUR 2bn valuation
Italian energy supplier Edison SpA (BIT:EDNR) has agreed to offload 49% of Edison Renewables to Credit Agricole Assurances, which will support a near-quadrupling of the target company's wind and solar PV capacity to 4 GW by 2030.
Read more renewablesnow.com/news/edison-sells-stake-in-renewable-arm-at-eur-2bn-valuation-764213/
-- Ncondezi sells Mozambican solar, storage C&I biz
African power development company Ncondezi Energy Ltd (LON:NCCL) has sold its Mozambican solar and storage-focused outfit for USD 1.3 million in cash, it said.
Read more renewablesnow.com/news/ncondezi-sells-mozambican-solar-storage-ci-biz-764229/
-- Equinor to buy 45% of UK battery developer Noriker Power
Norwegian energy company Equinor ASA (NYSE:EQNR) said it has agreed to acquire a 45% stake in UK battery storage developer Noriker Power Ltd with an option to buy the entire company at a later stage.
Read more renewablesnow.com/news/equinor-to-buy-45-of-uk-battery-developer-noriker-power-764261/
-- Enkraft says lignite ops exit is RWE's most urgent problem to be solved
Enkraft Capital GmbH, a significant minority investor in RWE AG (ETR:RWE), once more urged the German energy major to exit its lignite activities in a quick and structurally convincing manner.
Read more https://renewablesnow.com/news/enkraft-says-lignite-ops-exit-is-rwes-most-urgent-problem-to-be-solved-764311/
-- BASF sheds 25.2% stake in 1.5-GW offshore wind project to Allianz
German chemicals company BASF SE (ETR:BAS) has agreed to trim its shareholding in the 1.5-GW Hollandse Kust Zuid (HKZ) offshore wind farm project in Dutch waters by offloading a 25.2% stake to compatriot Allianz Capital Partners.
Read more https://renewablesnow.com/news/basf-sheds-252-stake-in-15-gw-offshore-wind-project-to-allianz-764357/
-- Reliance locks USD 736m in debt to back REC Solar buy - report
Indian conglomerate Reliance Industries Ltd (BOM:500325) will use a USD-736-million equivalent green loan to finance the recent acquisition of Norwegian solar module manufacturer REC Solar Holdings AS, the Mint reports.
Read more https://renewablesnow.com/news/reliance-locks-usd-736m-in-debt-to-back-rec-solar-buy-report-764371/
-- Solar Finland, partners to set up 100-MW solar module factory in Thailand
Finnish solar energy company Solar Finland Ltd has agreed to form a joint venture in Thailand that will set up a manufacturing facility for photovoltaic (PV) modules with an initial annual capacity of 100 MW in the Asian country.
Read more https://renewablesnow.com/news/solar-finland-partners-to-set-up-100-mw-solar-module-factory-in-thailand-764399/
-- Inpex to buy stakes in 2 offshore wind farms in the Netherlands
Japanese oil and natural gas producer Inpex Corp (TYO:1605) said it has agreed to acquire stakes in two wind farms offshore the Netherlands from a subsidiary of fellow Japanese company Mitsubishi Corp (TYO:8058).
Read more https://renewablesnow.com/news/inpex-to-buy-stakes-in-2-offshore-wind-farms-in-the-netherlands-764488/
-- TagEnergy buys 99.9-MW UK battery project from RES
Renewables investor TagEnergy has acquired a 99.9-MW battery energy storage system (BESS) project in North Yorkshire, England, from UK-based RES Group.
Read more https://renewablesnow.com/news/tagenergy-buys-999-mw-uk-battery-project-from-res-764545/
-- AES snaps up 612-MW New York wind portfolio from Carlyle
US power generation group AES Corp (NYSE:AES) said it has acquired a New York-based company with a 612-MW portfolio of wind parks from global investment firm Carlyle (NASDAQ:CG).
Read more https://renewablesnow.com/news/aes-snaps-up-612-mw-new-york-wind-portfolio-from-carlyle-764568/
-- VH Global buys 2nd Aussie solar farm under plan to add storage to PV
UK investment company VH Global Sustainable Energy Opportunities (LON:GSEO) has finalised the acquisition of a 10.9-MW solar farm site in Queensland, Australia, investing GBP 5.9 million, the firm said.
Read more https://renewablesnow.com/news/vh-global-buys-2nd-aussie-solar-farm-under-plan-to-add-storage-to-pv-764613/
-- Insolvent German in.power GmbH looks for new investors
Germany-based in.power GmbH, which specialises in the direct marketing of green electricity, is on the lookout for investors as a court in the city of Mainz is set to open insolvency proceedings for the company around the turn of the year.
Read more https://renewablesnow.com/news/insolvent-german-inpower-gmbh-looks-for-new-investors-764647/
-- Altus Power to float through SPAC merger
US clean energy firm Altus Power Inc is set to start trading in New York as its tie-up with CBRE Acquisition Holdings Inc (NYSE:CBAH) has been given the green light by the blank check company's stockholders.
Read more https://renewablesnow.com/news/altus-power-to-float-on-friday-through-spac-merger-764712/
-- New Mexico slams Avangrid's acquisition offer for PNM
State regulators in New Mexico have voted to reject Avangrid Inc’s (NYSE:AGR) proposal to acquire US utilities holding PNM Resources Inc (NYSE:PNM) in an all-cash deal with an enterprise value of USD 8.3 billion.
Read more https://renewablesnow.com/news/new-mexico-slams-avangrids-acquisition-offer-for-pnm-764747/
-- Neoen agrees farm-down deal for 46.8-MW wind duo in France
French renewable power producer Neoen SA (EPA:NEOEN) said it has struck a deal to unload a 95% stake in a 46.8-MW wind farm portfolio at home in a deal with a net capital gain of EUR 28 million.
Read more https://renewablesnow.com/news/neoen-agrees-farm-down-deal-for-468-mw-wind-duo-in-france-764753/
-- Cloudberry nets USD 67m for Captiva deal, wind power projects
Cloudberry Clean Energy ASA (OSE:CLOUD) has raised about NOK 600 million to advance two wind power projects and to partly fund its acquisition of control over Norwegian asset management group Captiva.
Read more https://renewablesnow.com/news/cloudberry-nets-usd-67m-for-captiva-deal-wind-power-projects-764782/
-- SUSI fund buys 50% of Aussie home solar-plus-storage provider
Swiss asset manager SUSI Partners AG said it has acquired a 50% stake in Starling Energy Group, an Australian company that provides solar-plus-storage systems to homeowners.
Read more https://renewablesnow.com/news/susi-fund-buys-50-of-aussie-home-solar-plus-storage-provider-764805/
-- Swancor, Shizen Energy to form Japanese offshore wind JV
Japanese renewables developer Shizen Energy Inc and Taiwanese sector player Swancor Renewable Energy Co Ltd intend to set up a joint venture (JV) to develop offshore wind farm projects off Japan’s southern coast.
Read more https://renewablesnow.com/news/swancor-shizen-energy-to-form-japanese-offshore-wind-jv-764941/
-- KKR-backed Virescent buys 55-MWp solar bundle in India
Virescent Renewable Energy Trust (VRET), an Indian renewable energy platform backed by global investment firm KKR & Co Inc (NYSE:KKR), has purchased a 40-MW/55-MWp portfolio of solar parks in India for INR 3.54 billion.
Read more https://renewablesnow.com/news/kkr-backed-virescent-buys-55-mwp-solar-bundle-in-india-764950/
-- ERG buys 92 MW of solar farms in Spain from Grupotec
ERG Power Generation SpA, a subsidiary of Italian energy company ERG SpA (BIT:ERG), is set to acquire two solar farms totalling 91.6-MW in Spain to gain entry into the market.
Read more https://renewablesnow.com/news/erg-buys-92-mw-of-solar-farms-in-spain-from-grupotec-765015/
-- Canadian pension investor ploughs USD 300m into Octopus
Canada Pension Plan Investment Board (CPP Investments) will make an initial equity investment of USD 300 million in UK’s Octopus Energy Group as part of a long-term strategic partnership between the entities.
Read more https://renewablesnow.com/news/canadian-pension-investor-ploughs-usd-300m-into-octopus-765021/
-- Vattenfall sells 27.5 MWp of solar farms in Germany to FP Lux Investments
Luxembourg-based special fund FP Lux Investments has acquired a portfolio of three solar PV farms in Germany from Vattenfall, securing 27.5 MWp of power for its RE Infrastructure Opportunities fund.
Read more https://renewablesnow.com/news/vattenfall-sells-275-mwp-of-solar-farms-in-germany-to-fp-lux-investments-765025/
-- Croatia's Professio Energia acquiring two wind farm owners
Croatian renewable energy company Professio Energia (ZSE:DLPR) said it has concluded the legal transactions aimed at the acquisition of two companies - PR Global Danilo and Vjetroelektrana Rudine, which own wind farms with a total installed capacity of 77.7 MW in southern Croatia.
Read more https://renewablesnow.com/news/croatias-professio-energia-acquiring-two-wind-farm-owners-765101/