- Press Releases
January 7 (Renewables Now) - Renewables Now covered M&A stories about Reliance, Avangrid, Cummins, Korea Zinc and others in the last week of 2021. Below is the full list:
-- Eolus to sell 120-MW battery project to Blackstone portfolio firm
Swedish wind project developer Eolus Vind AB (STO:EOLU-B) will offload an up to 120-MW battery storage project in California to Aypa Power, a portfolio company of alternative asset manager Blackstone (NYSE:BX).
Read more: https://renewablesnow.com/news/eolus-to-sell-120-mw-battery-project-to-blackstone-portfolio-firm-767789/
-- EDPR, NIPSCO wrap up hand-over of 302-MW wind farm in Indiana
Renewable energy producer EDP Renovaveis SA (ELI:EDPR), through its North American unit, has finalised a build-and-transfer agreement that underpinned the development of a 302-MW wind farm in the US state of Indiana, the company announced.
Read more: https://renewablesnow.com/news/edpr-nipsco-wrap-up-hand-over-of-302-mw-wind-farm-in-indiana-767807/
-- EDPR sheds stake in 200-MW solar project in Indiana
EDP Renovaveis SA (ELI:EDPR) has finalised the sale of an 80% equity stake in the 200-MW (AC) Riverstart Solar project located in the US state of Indiana to Toronto-based investment firm Connor Clark & Lunn Infrastructure.
Read more: https://renewablesnow.com/news/edpr-sheds-stake-in-200-mw-solar-project-in-indiana-767851/
-- Hamburg merges local utilities in energy transition push
German municipal utilities Hamburg Energie GmbH and Waerme Hamburg GmbH have merged to create a new company that will foster the energy transition in Germany's second-largest city.
Read more: https://renewablesnow.com/news/hamburg-merges-local-utilities-in-energy-transition-push-767853/
-- Georgia Capital selling part of water utility biz to get funds for renewables
UK-based company Georgia Capital Plc (LON:CGEO) has struck an agreement to sell an 80% stake in its water utility business in the country of Georgia to secure proceeds needed to refinance the renewable energy operations.
Read more: https://renewablesnow.com/news/georgia-capital-selling-part-of-water-utility-biz-to-get-funds-for-renewables-767887/
-- Reliance joins promoter club of India's Sterling & Wilson Renewable
Indian conglomerate Reliance Industries Ltd (BOM:500325) has become one of the promoters of Sterling & Wilson Renewable Energy Ltd (BOM:542760), or SWREL, after building a stake of over 40% in the target, together with group entities.
Read more: https://renewablesnow.com/news/reliance-joins-promoter-club-of-indias-sterling-wilson-renewable-767919/
-- Avangrid appeals rejected deal with PNM, extends offer
Avangrid Inc (NYSE:AGR) said it has filed an appeal against New Mexico regulators’ decision to oppose its acquisition of US utilities holding PNM Resources Inc (NYSE:PNM) and announced a timeline extension to its proposal.
Read more: https://renewablesnow.com/news/avangrid-appeals-rejected-deal-with-pnm-extends-offer-767920/
-- Foresight Solar Fund takes full control of 47-MW Aussie solar duo
UK’s Foresight Solar Fund Ltd (LON:FSFL) said it has purchased the 51% stake it did not previously own in a 47-MW solar park portfolio in the Australian state of Queensland.
Read more: https://renewablesnow.com/news/foresight-solar-fund-takes-full-control-of-47-mw-aussie-solar-duo-767921/
-- Peak Wind to invest in Danish VPP start-up Hybrid Greentech
Danish wind power consultancy Peak Wind announced it is acquiring a minority stake in domestic virtual power plant (VPP) technology provider Hybrid Greentech, so as to prepare for stronger integration between generation and Power-to-X (P2X) assets.
Read more: https://renewablesnow.com/news/peak-wind-to-invest-in-danish-vpp-start-up-hybrid-greentech-768009/
-- Polenergia, Green Genius plan JV for Lithuanian offshore wind
Polenergia SA (WSE:PEP) will form a joint venture (JV) with Lithuanian firm Modus Energy AB, operating under the Green Genius brand, for the development of offshore wind projects in the Lithuanian Baltic Sea.
Read more: https://renewablesnow.com/news/polenergia-green-genius-plan-jv-for-lithuanian-offshore-wind-768033/
-- Appalachian Power eyes 500 MW of wind, solar to meet Virginia mandates
Appalachian Power, a unit of utility American Electric Power Company Inc (NYSE:AEP), announced plans to buy or contract close to 500 MW of wind and solar power capacity to meet Virginia state laws.
Read more: https://renewablesnow.com/news/appalachian-power-eyes-500-mw-of-wind-solar-to-meet-virginia-mandates-768042/
-- Kohler Co buys distributed energy resources expert Heila
Wisconsin-based Kohler Co, a manufacturer of a variety of products from plumbing and furniture to engines and generators, has taken over Heila Technologies in a drive to expand its clean energy management offering.
Read more: https://renewablesnow.com/news/kohler-co-buys-distributed-energy-resources-expert-heila-768053/
-- Reliance Industries closes buy of UK battery co Faradion
Indian conglomerate Reliance Industries Ltd (BOM:500325) has wrapped up the acquisition of UK sodium-ion battery technology developer Faradion Ltd in a deal with an enterprise value of GBP 100 million.
Read more: https://renewablesnow.com/news/reliance-industries-closes-buy-of-uk-battery-co-faradion-768062/
-- ISS puts up for sale 425 MW of solar projects in Texas
US solar farms developer Innovative Solar Systems (ISS) is seeking a buyer for two utility-scale photovoltaic (PV) projects in Texas with a combined capacity of 425 MW.
Read more: https://renewablesnow.com/news/iss-puts-up-for-sale-425-mw-of-solar-projects-in-texas-768075/
-- BW Ideol signs floating wind partnership deal with JERA, ADEME
BW Ideol AS has signed an investment agreement with Japanese utility JERA Co Inc and French state-owned investor ADEME Investissement SAS in relation to the creation of a new firm to finance the co-development of floating offshore wind projects.
Read more: https://renewablesnow.com/news/bw-ideol-signs-floating-wind-partnership-deal-with-jera-ademe-768100/
-- Recurrent Energy to sell 150-MW solar project in Virginia to AEP unit
Recurrent Energy LLC, a fully-owned unit of Canadian Solar Inc (NASDAQ:CSIQ), said it has signed a deal to sell a 150-MW solar project in Virginia to Appalachian Power upon its completion.
Read more: https://renewablesnow.com/news/recurrent-energy-to-sell-150-mw-solar-project-in-virginia-to-aep-unit-768127/
-- Cummins, Sinopec to set up 500-MW electrolyser factory in China
US power solutions company Cummins Inc (NYSE:CMI) has set up a 50/50 joint venture (JV) with China Petrochemical Corp, or Sinopec Group, to produce green hydrogen generation systems in China.
Read more: https://renewablesnow.com/news/cummins-sinopec-to-set-up-500-mw-electrolyser-factory-in-china-768180/
-- Korea Zinc aims for greener production with Energy Vault investment
Korea Zinc Co Ltd (KRX:010130) has pledged to invest USD 50 million in Energy Vault Inc, upsizing a previously unveiled private investment in public equity (PIPE) at the energy storage solutions company and also agreeing on a new strategic partnership.
Read more: https://renewablesnow.com/news/korea-zinc-aims-for-greener-production-with-energy-vault-investment-768181/
-- NextEnergy Solar Fund co-invests in 50-MW Spanish solar project
NextEnergy Solar Fund Ltd (LON:NESF), the listed investment company managed by NextEnergy Capital Group, said it has inked its first co-investment deal for a 25% stake in a solar project in Spain.
Read more: https://renewablesnow.com/news/nextenergy-solar-fund-co-invests-in-50-mw-spanish-solar-project-768250/
-- MGE, WPS get approval to co-own 92-MW wind farm in Wisconsin
Regulators in Wisconsin have approved a plan by Madison Gas and Electric (MGE), a subsidiary of MGE Energy Inc (NASDAQ:MGEE), and Wisconsin Public Service Corp (WPS) to co-own a 92-MW wind park.
Read more: https://renewablesnow.com/news/mge-wps-get-approval-to-co-own-92-mw-wind-farm-in-wisconsin-768256/
-- ReneSola to sell 37 MW of additional Polish solar assets to Obton
ReneSola Ltd (NYSE:SOL) has recently closed on the sale of 37 MW of solar projects in Poland to Danish investment firm Obton for an undisclosed amount.
Read more: https://renewablesnow.com/news/renesola-to-sell-37-mw-of-additional-polish-solar-assets-to-obton-768272/
-- Silicon Ranch secures USD 775m in equity funding to pursue growth
Silicon Ranch Corporation, an independent renewable power producer in the US that is backed by Royal Dutch Shell plc (AMS:RDSA), announced it has raised USD 775 million in new equity capital.
Read more: https://renewablesnow.com/news/silicon-ranch-secures-usd-775m-in-equity-funding-to-pursue-growth-768282/
-- NovaSource buys aerial solar inspection co Heliolytics
NovaSource Power Services announced the acquisition of Heliolytics Inc, the Canadian provider of aerial site inspection, site optimisation, and advanced site analysis for solar farms.
Read more: https://renewablesnow.com/news/novasource-buys-aerial-solar-inspection-co-heliolytics-768307/
-- Northland, RWE to form 1.3-GW offshore wind JV in Germany
Canadian power producer Northland Power Inc (TSE:NPI) and Germany’s RWE Renewables GmbH will set up a joint venture (JV) to co-develop a new cluster of three offshore wind projects in German waters totalling 1.3 GW gross.
Read more: https://renewablesnow.com/news/northland-rwe-to-form-13-gw-offshore-wind-jv-in-germany-768334/
-- Brazil's Raizen concludes deal to form JV for DG renewables
Brazilian sugar and ethanol producer Raizen SA (BVMF:RAIZ4) and its subsidiary Raizen Energia SA have finalised a previously announced renewable asset acquisition to form a joint venture (JV) with local energy company Grupo Gera.
Read more: https://renewablesnow.com/news/brazils-raizen-concludes-deal-to-form-jv-for-dg-renewables-768338/
-- Carlton Power, Stag pool knowledge for UK energy storage, green H2
British energy infrastructure developers Carlton Power and Stag Energy are merging their operations with plans to develop projects that will help improve energy storage, grid stability and green hydrogen production in the UK.
Read more: https://renewablesnow.com/news/carlton-power-stag-pool-knowledge-for-uk-energy-storage-green-h2-768355/
-- New European Energy JV acquires Danish biogas producer
Danish renewables developer European Energy A/S said that in a joint venture with Maigaard & Molbech it has acquired Danish biogas producer Vinkel Bioenergi as a first step in creating a “circular bioeconomic group.”
Read more: https://renewablesnow.com/news/new-european-energy-jv-acquires-danish-biogas-producer-768372/
-- NHPC, GEDCOL to develop 500 MW of floating solar in Odisha
Indian hydropower producer NHPC Ltd (BOM:533098) and Green Energy Development Corporation of Odisha Ltd (GEDCOL) have entered into a promoters agreement to develop 500 MW of floating solar projects in the state of Odisha.
Read more: https://renewablesnow.com/news/nhpc-gedcol-to-develop-500-mw-of-floating-solar-in-odisha-768397/