Weekly renewables M&A round-up (July 5-9)

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July 9 (Renewables Now) - Renewables Now covered M&A stories about Suzlon, Senvion, Eni and others over the past week. Below is the full list:

-- Aquila completes 50% stake buy in 60-MWp Portuguese solar plant

London-listed investment firm Aquila European Renewables Income Fund plc (LON:AERS), or AERIF, announced it has completed the purchase of a 50% stake in a unlevered 60-MWp solar farm in Portugal.

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-- Swedish fund EQT to buy Cypress Creek Renewables

A fund owned by Swedish investment firm EQT AB (STO:EQT) has agreed to buy US-based Cypress Creek Renewables, which owns 1.6 GW of assets in operation, from funds managed by HPS Investment Partners LLC and Temasek.

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-- GreenGo sells 360 MW of Danish solar projects to Doral Energy

Denmark-based GreenGo Energy Group A/S announced that it has sold a portfolio of 360 MW of utility-scale subsidy-free solar projects to Israeli developer Doral Renewable Energy Resources Group under a partnership agreement.

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-- Spanish quality assurance group Applus acquires solar, storage peer Enertis

Madrid-based group Applus Services SA (BME:APPS), which provides inspection, testing and certification services, announced that it has acquired Enertis, its compatriot and peer in the solar PV sector.

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-- Alussa Energy shareholders clear merger with Freyr

Alussa Energy Acquisition Corp's (NYSE:ALUS) shareholders have okayed the planned merger with Norwegian battery cells developer Freyr AS, the special purpose acquisition company (SPAC) said.

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-- Energiekontor unloads 13.5-MW German wind project to CEE

German renewables developer and operator Energiekontor AG (ETR:EKT) has sold a 13.5-MW wind park being built in Germany’s North Rhine-Westphalia state to compatriot CEE Group.

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-- R.Power, new partner to co-develop 80 MWp of solar in Germany

Polish solar project developer R.Power sp. z o.o. is getting ready to acquire 80 MWp of photovoltaic (PV) projects in Germany which it will co-develop with a local partner.

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-- India's Suzlon refutes takeover talk

Indian wind turbine manufacturer Suzlon Energy Ltd (BOM:532667) said that rumours about any large group acquiring controlling interest in the company are “speculative and baseless.”

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-- Flexion Energy lands GBP-150m investment to support storage business

Alternative investment fund GLIL Infrastructure has poured GBP 150 million into Flexion Energy, a London-based modern utility company that aims to deliver 1 GW of operational energy storage systems in the UK over five years.

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-- Heliogen to go public via USD-2bn blank-check merger

Heliogen, a California-based developer of artificial intelligence (AI)-enabled concentrated solar technology, is set to go public via a merger with special purpose acquisition company (SPAC) Athena Technology Acquisition Corp (NYSE:ATHN).

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-- BayWa r.e. eats up Hanover-based wind developer to grow in Germany

German renewables company BayWa r.e. AG announced that it has acquired Hanover-based wind energy developer NWind GmbH to strengthen its position in the domestic wind market.

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-- Hull Street Energy finalises acquisition of US solar developer

US private equity firm Hull Street Energy LLC has closed the acquisition of the management team and development pipeline of Foundation Solar Partners for an undisclosed sum.

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-- Axpo sheds 74.5-MW French wind bundle to Encavis fund

Swiss renewables producer and marketer Axpo Holding AG said it has sold 74.5 MW of wind farms in France to Germany’s Encavis Asset Management AG.

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-- Blue Elephant gives up IPO as Struengmann family takes 15% stake

German solar and wind farm operator Blue Elephant Energy AG announced a EUR-75-million investment by Athos, the family office of the Struengmann family, and scrapped plans for an initial public offering (IPO) that was scheduled for the third quarter of 2021.

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-- Summit Ridge buys 19.5-MW community solar portfolio in Maine

US community solar projects specialist Summit Ridge Energy LLC has acquired three such projects with a combined capacity of 19.5 MW in the US state of Maine.

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-- Subsea 7 to merge Seaway 7 unit with Norway's OHT

Offshore contractor Subsea 7 SA (OSL:SUBC) announced that it has agreed to combine its renewables business unit with Norwegian heavy transport vessel operator OHT ASA (OSL:OHT) to create a pure-play one-stop-shop for bottom-fixed offshore wind projects.

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-- GCL New Energy to buy remaining minority of Chinese solar plant owner

Chinese solar plants operator GCL New Energy Holdings Ltd (HKG:0451) will acquire the 5.835% it does not already own in a solar power investment firm that indirectly holds the bulk of its 2.7 GW of solar generation capacity in China.

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-- Sangam sells majority stake in 24-MWp Indian solar portfolio to partner

Sangam Renewables Ltd (BOM:534618) has sold to a partner its controlling stake in a firm that developed 24 MWp of solar projects in India.

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-- Turkcell to acquire wind plant operator Boyut Grup Enerji

Turkish mobile phone operator Turkcell [IST:TCELL] said that its wholly-owned subsidiary Turkcell Enerji has signed a share transfer agreement to acquire all the shares of local Boyut Grup Enerji, the owner of the Karadag wind power plant in Izmir.

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-- Omers, Norfund may take 20% of India's Avaada Energy - report

Canadian pension fund Omers and Norwegian state-owned investment fund Norfund are in talks to buy a 20% stake in Indian solar project developer Avaada Energy Pvt Ltd, the Economic Times reports.

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-- Saudi Arabia's Alfanar wraps up acquisition of Senvion India

Saudi Arabia’s Alfanar Group has finalised the acquisition of Senvion India Pvt Ltd, a spin-off of German wind turbine maker Senvion GmbH, for an undisclosed sum.

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-- Eni to buy 315-MW wind portfolio in Italy

Italian oil and gas group Eni SpA (BIT:ENI) will fully acquire a 315-MW operational wind portfolio in Italy from UK fund manager Glennmont Partners and Dutch pension fund PGGM Infrastructure Fund.

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-- HydroLand buys century-old run-of-river duo in N Carolina

US renewables company HydroLand announced that it has acquired two small hydroelectric stations totalling just over 2 MW from Northbrook Carolina Hydro II LLC.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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