Weekly renewables M&A round-up (Jul 25-29)

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July 29 (Renewables Now) - Renewables Now covered M&A stories about Ørsted, IEA, Octopus Energy, and others in the past week. Below is the full list:

-- Ardian closes acquisition of 100 MW solar PV pipeline in Italy

Paris-based private investment house Ardian has completed the acquisition of a solar photovoltaic (PV) pipeline under development in Italy with around 100 MW of capacity.

Read more: https://renewablesnow.com/news/ardian-closes-acquisition-of-100-mw-solar-pv-pipeline-in-italy-792582/

-- Ørsted adding 1.7 GW to onshore platform via Ostwind acquisition

Danish offshore wind developer Ørsted (CPH:ORSTED) has clinched a deal to acquire Ostwind AG, which develops and builds onshore wind and solar farms in Germany and France and owns roughly 1.7 GW of assets.

Read more: https://renewablesnow.com/news/rsted-adding-17-gw-to-onshore-platform-via-ostwind-acquisition-792571/

-- Genex Power gets non-binding takeover offer from Skip, Stonepeak

Australia’s Genex Power Ltd (ASX:GNX) has received a conditional and non-binding acquisition offer from a fund owned by existing shareholder Skip Capital and alternative investor Stonepeak Partners LLC.

Read more: https://renewablesnow.com/news/genex-power-gets-non-binding-takeover-offer-from-skip-stonepeak-792586/

-- Reservoir Link, EDPR Sunseap to develop solar projects with PPAs in Malaysia

A unit of energy-related services provider Reservoir Link Energy Bhd (KLSE:RL) has agreed to collaborate with Sunseap Energy (Malaysia) Sdn Bhd, also known as EDPR Sunseap, on the development of PPA-backed solar projects in Malaysia.

Read more: https://renewablesnow.com/news/reservoir-link-edpr-sunseap-to-develop-solar-projects-with-ppas-in-malaysia-792595/

-- Canadian Solar sells solar PV, storage projects in UK to Gresham House

Canadian Solar Inc (NASDAQ:CSIQ) has closed the sale of two fully-permitted UK solar projects, one of which is collocated with a battery, to the clean energy division of Gresham House Plc (LON:GHE).

Read more: https://renewablesnow.com/news/canadian-solar-sells-solar-pv-storage-projects-in-uk-to-gresham-house-792602/

-- MasTec to buy renewables builder IEA in USD-1.1bn deal

US infrastructure builder MasTec (NYSE:MTZ) has agreed to take over renewables-specialising sector player Infrastructure and Energy Alternatives Inc (NASDAQ:IEA) in a cash-and-stock deal worth USD 1.1 billion (EUR 1.08bn), including net debt.

Read more: https://renewablesnow.com/news/mastec-to-buy-renewables-builder-iea-in-usd-11bn-deal-792624/

-- Cypress Creek buys 400 MW of battery projects in Texas

US renewable energy plants developer and operator Cypress Creek Renewables has acquired four standalone energy storage projects in Texas with a combined capacity of 400 MW/600 MWh from Black Mountain Energy Storage (BMES).

Read more: https://renewablesnow.com/news/cypress-creek-buys-400-mw-of-battery-projects-in-texas-792654/

-- Correlate eyes purchase of USD-175m US solar-roofing business

Correlate Infrastructure Partners Inc (OTCMKTS:CIPI) has set its sight on an unnamed California-based solar, battery storage and roofing business with 2021 revenues of USD 175 million (EUR 171m).

Read more: https://renewablesnow.com/news/correlate-eyes-purchase-of-usd-175m-us-solar-roofing-business-792662/

-- Lynher Energy buys rights to UK solar, battery projects

UK solar and energy storage investor Lynher Energy has purchased the rights to 96 MW of solar and 100 MWh of battery storage projects in the UK.

Read more: https://renewablesnow.com/news/lynher-energy-buys-rights-to-uk-solar-battery-projects-792699/

-- CleanCapital buys 37-MW solar farm in Guam

Clean energy investment platform CleanCapital has acquired a 36.6-MW direct current (DC) solar power plant in Guam from GlidePath Power Solutions LLC along with rights to the seller’s solar development pipeline on the island.

Read more: https://renewablesnow.com/news/cleancapital-buys-37-mw-solar-farm-in-guam-792749/

-- Enefit Green buys Estonian wind project to form 235-MW cluster

Estonian power producer Enefit Green AS (TAL:EGR1T) has signed a deal to buy the entity holding the 74-MW Tootsi wind project from Eesti Energia for EUR 26.9 million on a cash- and debt-free basis.

Read more: https://renewablesnow.com/news/enefit-green-buys-estonian-wind-project-to-form-235-mw-cluster-792772/

-- Enovos takes full control of German solar developer WES Green

Enovos Renewables GmbH has acquired all shares in German solar developer WES Green GmbH from renewable energy group Wircon GmbH in a deal that will strengthen its position in western Germany.

Read more: https://renewablesnow.com/news/enovos-takes-full-control-of-german-solar-developer-wes-green-792857/

-- Octopus Energy pockets USD 550m to spur renewables

British solar and wind energy investor Octopus Energy Group has secured USD 550 million in fresh funds to improve its energy technology platform and further expand on the renewables market, it said on Tuesday.

Read more: https://renewablesnow.com/news/octopus-energy-pockets-usd-550m-to-spur-renewables-792833/

-- Zara founder buys 5% in Enagas' renewables unit

Spanish gas grid operator Enagas SA (BME:ENG) has sold a 5% stake in its renewable gases subsidiary Enagas Renovable to Pontegadea Group.

Read more: https://renewablesnow.com/news/zara-founder-buys-5-in-enagas-renewables-unit-792897/

-- PNE enters Spain with majority investment in solar developer Kolya

German wind power-focused renewables company PNE AG (ETR:PNE3) has taken control of Spanish solar developer Coliaenergia Espana SL, or Kolya, thus increasing its own photovoltaic (PV) project pipeline by 40%.

Read more: https://renewablesnow.com/news/pne-enters-spain-with-majority-investment-in-solar-developer-kolya-792850/

-- Spruce Power buys 16.5-MW rooftop solar portfolio in Northeastern US

US distributed generation (DG) solar systems owner and operator Spruce Power has recently acquired Level Solar’s entire portfolio of residential solar assets totalling 16.5 MW in direct current (DC), thus increasing its own portfolio by almost 5%.

Read more: https://renewablesnow.com/news/spruce-power-buys-165-mw-rooftop-solar-portfolio-in-northeastern-us-792858/

-- Energiequelle sells 14.7-MW solar park in France

German project developer Energiequelle GmbH has sold a 14.7-MWp solar park in central France to family-owned solar developer Watt & Co.

Read more: https://renewablesnow.com/news/energiequelle-sells-147-mw-solar-park-in-france-792910/

-- Ardian values GreenYellow at EUR 1.4bn in deal to buy control

Private investment house Ardian has agreed to buy a majority stake in French decentralised energy specialist GreenYellow in a deal that values the company at about EUR 1.4 billion.

Read more: https://renewablesnow.com/news/ardian-values-greenyellow-at-eur-14bn-in-deal-to-buy-control-792970/

-- ABO Wind sells 515-MW onshore wind project in Canada

German renewables developer ABO Wind AG (ETR:AB9) has sold the 514.6-MW Buffalo Plains wind project in Canada to an unnamed investor.

Read more: https://renewablesnow.com/news/abo-wind-sells-515-mw-onshore-wind-project-in-canada-793079/

-- MARNA plans to acquire Swiss flexible PV modules maker Flisom

German investment firm MARNA Beteiligungen AG plans to take control of Swiss thin-film solar photovoltaic (PV) modules manufacturer Flisom Group, which operates a 40-MW factory in Hungary.

Read more: https://renewablesnow.com/news/marna-plans-to-acquire-swiss-flexible-pv-modules-maker-flisom-793046/

-- VoltStorage nets EUR 24m to develop redox flow battery technology

German energy storage specialist VoltStorage GmbH has raised EUR 24 million in Series C financing from US company Cummins Inc (NYSE:CMI) to fund the development of new redox flow battery storage systems and the company's growth.

Read more: https://renewablesnow.com/news/voltstorage-nets-eur-24m-to-develop-redox-flow-battery-technology-793193/

-- Borrego wraps up spin-off, sale of solar development ops to ECP

US solar plants builder and operator Borrego no longer owns a project development business after closing the sale of the one it had to energy transition-focused investor ECP.

Read more: https://renewablesnow.com/news/borrego-wraps-up-spin-off-sale-of-solar-development-ops-to-ecp-793087/

-- Axpo sells 66-MW wind farm in Italy

Axpo Holding AG announced on Thursday it has agreed to sell a 66-MW wind farm in Italy to local energy supplier Edison SpA (BIT:EDNR) as the Swiss renewable power producer and energy trader seeks to focus on new growth initiatives.

Read more: https://renewablesnow.com/news/axpo-sells-66-mw-wind-farm-in-italy-793134/

-- Spearmint Energy snaps up 150-MW battery project from Con Edison

US solar and energy storage project developer Spearmint Energy on Thursday announced the acquisition of a 150-MW battery storage scheme in Texas from a unit of New York-based renewable energy group Con Edison Clean Energy Businesses.

Read more: https://renewablesnow.com/news/spearmint-energy-snaps-up-150-mw-battery-project-from-con-edison-793137/

-- Brazil's Renova completes sale of 305-MW wind portfolio to AES Brasil

Brazilian renewables company Renova Energia SA (BVMF:RNEW11) has concluded the sale of a 305-MW wind portfolio to peer AES Brasil Energia SA (BVMF:AESB3) for BRL 42 million (USD 7.9m/EUR 7.8m).

Read more: https://renewablesnow.com/news/brazils-renova-completes-sale-of-305-mw-wind-portfolio-to-aes-brasil-793149/

-- UBS snaps up 700 MW of US energy storage projects

The asset management arm of Swiss bank UBS Group AG (SWX:UBSG) has acquired a 700-MW portfolio of energy storage projects in Texas from Black Mountain Energy Storage as part of the strategic expansion of the lender’s infrastructure business.

Read more: https://renewablesnow.com/news/ubs-snaps-up-700-mw-of-us-energy-storage-projects-793155/

-- Pontegadea buys stake in Repsol's 127-MW solar farm in Spain

Spanish investment house Pontegadea Group has acquired a 49% stake in the 126.7-MW Kappa solar farm complex in Spain from Repsol SA (BME:REP).

Read more: https://renewablesnow.com/news/pontegadea-buys-stake-in-repsols-127-mw-solar-farm-in-spain-793151/

-- EDPR inks EUR 250m acquisition to enter German, Dutch solar markets

EDP Renovaveis SA (ELI:EDPR) has clinched a deal to buy a 70% interest in German developer Kronos Solar Projects GmbH which has a portfolio of 9.4 GW of solar projects under development with its home market accounting for nearly half of it.

Read more: https://renewablesnow.com/news/edpr-inks-eur-250m-acquisition-to-enter-german-dutch-solar-markets-793161/

-- EDPR to sell 172-MW Italian wind portfolio to ERG

Renewable energy company EDP Renovaveis SA (ELI:EDPR) has inked an agreement to sell a 172-MW wind farm portfolio in Italy to local energy company ERG SpA (BIT:ERG).

Read more: https://renewablesnow.com/news/edpr-to-sell-172-mw-italian-wind-portfolio-to-erg-793179/

-- ICG Infra buys majority of UK solar developer transitioning into IPP

The debut infrastructure fund of global alternative asset manager ICG has taken control of British Solar Renewables (BSR), which is one of the first solar project developers in the UK and will now seek to establish itself as an independent power producer (IPP).

Read more: https://renewablesnow.com/news/icg-infra-buys-majority-of-uk-solar-developer-transitioning-into-ipp-793195/

-- Iberdrola, BP to set up JVs for green H2, electric mobility

Spanish utility Iberdrola SA (BME:IBE) and oil-and-gas major BP Plc (LON:BP) on Thursday announced that they will form two joint ventures (JVs) to promote green hydrogen production and the development of public charging stations for electric vehicles (EVs) in the Iberian Peninsula and the UK.

Read more: https://renewablesnow.com/news/iberdrola-bp-to-set-up-jvs-for-green-h2-electric-mobility-793209/

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