Weekly renewables M&A round-up (June 10-23)

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June 24 (Renewables Now) - Renewables Now covered M&A stories related to Suzlon, Edison, Algonquin Power and others over the past two weeks. Below is the full list of deals:

-- Ternienergia sheds 19.3-MW Italian PV porftolio, to sell JV stake

TerniEnergia SpA (BIT:TER) has signed all contracts related to the previously announced sale of a 19.3-MW solar portfolio in Italy and a preliminary deal to shed its 50% stake in a joint venture (JV) with Italian renewable energy company Errenergia.

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-- India's Suzlon says still working on debt reduction

While refusing to comment on a specific media report claiming that the company faces a default on bonds, Suzlon Energy Ltd (BOM:532667) reiterated it continues to work on reducing its debt.

According to news reports, an equity investment offer by Danish peer Vestas Wind Systems A/S (CPH:VWS) had expired on June 3 without resulting in a deal because of a valuation difference.

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-- Prudential Capital joins Soltage's investors

Independent solar power producer Soltage LLC announced a “significant investment” from Prudential Capital Group that will help it grow its business and expand in emerging markets across the US.

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-- Wafer maker NorSun nabs USD 59m of fresh funds for capacity expansion

NorSun AS, a Norwegian producer of n-type monocrystalline wafers for solar cells, has obtained NOK 515 million in fresh financing to prepare for an expansion of its capacity and the introduction of new production technologies.

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-- First Solar seeks to offload 45-MW PV portfolio in India - report

US thin-film solar module maker First Solar Inc (NASDAQ:FSLR) is looking to sell a 45-MW photovoltaic (PV) plant portfolio in the Indian state of Karnataka, Mint reports quoting two informed sources.

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-- Adani to buy 310 MW of Essel Infra's solar portfolio - report

Indian company Essel Infraprojects Ltd has agreed to offload 310 MW of operational solar assets from its 658-MW portfolio to domestic conglomerate Adani Group, Mint reports.

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-- Engie buys parent of UK EV charging network operator GeniePoint

French energy group Engie SA (EPA:ENGI) has taken over UK electric vehicle (EV) charging solutions provider ChargePoint Services Ltd (CPS), which owns pay-as-you-go EV charging network GeniePoint.

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-- US Solar Fund targets 120-MW asset in western US

Recently-listed investment company US Solar Fund Plc (LON:USF) has entered into exclusivity to buy a solar project in the western US with a direct current (DC) capacity of 120 MW.

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-- Elseweedy Electric to buy 63.6 MW of Greek renewables

Egypt’s Elsewedy Electric SAE has entered into a share purchase agreement with Greek power producer RF Energy SA to fully acquire the operators of 63.6 MW of wind farm and mini hydro-power plants in Greece.

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-- Bulgaria's Capman Green Energy Fund unit acquires two solar parks

Bulgaria's Capman Green Energy Fund [BUL:C4P] said that its unit Solar Logistic, previously known as Sevko Bulgaria, has acquired two solar parks with installed capacity of 197.4 kW each for a total of 684,000 euro.

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-- Greencoat UK Wind finalises investment in 39-MW Scottish asset

Greencoat UK Wind Plc (LON:UKW), a renewable infrastructure fund managed by Greencoat Capital LLP, has wrapped up the acquisition of a majority stake in the 39.1-MW Tom nan Clach wind farm in Scotland.

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-- Voltalia to sell minority stake in 291 MW wind portfolio to STOA

France's Voltalia SA (EPA:VLTSA) has entered into exclusive negotiations with investment fund STOA for the sale of a minority stake in a 291-MW wind portfolio in Brazil.

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-- Eesti Energia to acquire 19.15 MW of solar in Poland

Estonian state-owned energy company Eesti Energia AS said a subsidiary has signed a share purchase agreement to acquire 19.15 MW of solar farm projects in Poland.

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-- US Solar Fund negotiating 90-MW buy from Cypress Creek Renewables

Recently-listed investment company US Solar Fund Plc (LON:USF) is in exclusive talks to acquire a 90-MW DC solar project portfolio in North Carolina and Oregon from developer Cypress Creek Renewables.

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-- KBJ, Hanwha form JV for 30-MW solar project in Malaysia - report

Malaysia’s Konsortium Beseri Jaya Sdn Bhd (KBJ) has teamed up with a unit of South Korea’s Hanwha group to jointly build a 30-MW solar photovoltaic (PV) park in Malaysia’s Perlis state.

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-- Edison to buy wind, solar portfolio in Italy from parent EDF

The board of Italian electricity and natural gas producer Edison SpA (BIT:EDNR) has approved the acquisition of a large renewable energy portfolio in Italy from its French parent company EDF SA (EPA:EDF) for EUR 172.9 million (USD 195m).

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-- Algonquin Power to buy 600 MW of US wind assets

Canadian renewable energy company Algonquin Power & Utilities Corp (TSX:AQN), or APUC, announced that it has received approval to acquire 600 MW of wind power generating capacity in the US.

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-- SIMEC Atlantis mulls new transaction structure for hydro buy

SIMEC Atlantis Energy Ltd (LON:SAE) has decided to abandon the planned acquisition of UK mini-hydro developer and operator SIMEC Green Highland Renewables (SIMEC GHR) in its current form.

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-- Desjardins to join EDF in 201.6-MW wind project in Alberta

Canada’s Desjardins Group Pension Plan (DGPP) intends to buy 40.5% of EDF Renewables Canada's interest in the 201.6-MW Cypress wind project in Alberta.

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-- China's Silk Road buying 49% of Acwa Power Renewable Energy

China’s Silk Road Fund has agreed to purchase a 49% stake in Acwa Power’s renewable energy platform that will own 1,668 MW of its parent’s wind and solar assets in Asia and Africa.

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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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