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Weekly renewables M&A round-up (Mar 2-6)

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March 6 (Renewables Now) - Renewables Now covered M&A stories related to AES Tiete, Windlab, Pattern Energy, Q Cells and others over the past week. Below is the full list of deals:

-- Total eyes stake in 1.1-GW UK offshore wind project - report

French oil and gas giant Total SA (EPA:FP) has made it to the final round of bidding for a stake in the 1,075-MW Seagreen wind project in the Scottish part of the North Sea, Bloomberg reports, quoting informed people.

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-- Highfield Energy, Temporis Aurora form 200-MW Irish wind power JV

Irish renewable energy project developer Highfield Energy is partnering with Temporis Aurora Fund to develop onshore wind projects with a total capacity of at least 200 MW in Ireland.

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-- ABB formally offloads solar inverter unit

Swiss group ABB Ltd (SWX:ABBN) said it has closed the sale of its solar photovoltaic (PV) inverter business to Italian sector player Fimer SpA.

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-- Brazil's Eneva offers to merge with AES Tiete

Brazilian energy company Eneva SA (B3:ENEV3) has sent a binding cash-and-stock proposal for a merger with local peer AES Tiete Energia SA (B3:TIET11) that would result in the creation of a "giant in the generation sector."

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-- Japan's Itochu to invest USD 3.7m in energy storage co Eguana

Japanese general trader Itochu Corp (TYO:8001) will invest CAD 5 million in Canadian energy storage systems developer Eguana Technologies Inc (CVE:EGT).

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-- First Solar reveals buyer of 160-MW California PV portfolio

US renewables developer Longroad Energy has acquired a 160-MW portfolio of solar projects in California developed by First Solar Inc (NASDAQ:FSLR).

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-- Grasshopper Solar buying 278 MW of Pennsylvania solar

Canada-based solar developer Grasshopper Solar said it will spend more than USD 300 million to buy a 278-MW portfolio of photovoltaic (PV) projects in Pennsylvania.

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-- Windlab enters takeover agreement

Australian wind farm development and management firm Windlab Ltd (ASX:WND) announced an agreement to be acquired by investment vehicle Wind Acquisition 1 Pty Ltd and Squadron Wind Energy Development Pty Ltd for AUD 1.0 per share in cash.

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-- RP Global closes exit from Georgian renewables JV

RP Global has sold its 35% stake in Georgian Renewable Power Company (GRPC), a joint venture (JV) it formed six years ago with UK-based holding company Georgia Capital Plc (LON:CGEO).

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-- Proxy advisory firms recommend rejection of Pattern Energy deal

Two of the three leading proxy advisory firms recommend that the shareholders of Pattern Energy Group Inc (NASDAQ:PEGI) vote against the company’s agreed takeover by Canada Pension Plan Investment Board (CPPIB).

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-- Pacific Ethanol to dispose of majority stake in Pacific Aurora

US ethanol producer Pacific Ethanol Inc (NASDAQ:PEIX) said it has agreed to sell its majority stake in Pacific Aurora LLC to its partner in the ethanol venture, Aurora Cooperative Elevator Company, for USD 52.8 million.

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-- India's ACME Cleantech to sell 600 MW of solar capacity - report

Indian firm ACME Cleantech Solutions signed a deal to offload 600 MW of solar power capacity to UK-based emerging market investor Actis Capital, the Economic Times reported, citing people in the know.

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-- John Laing ditches wind, solar on limited value creation potential

UK-based infrastructure investor John Laing Group Plc (LON:JLG) will cease investing in standalone wind and solar projects globally but it is looking at other infrastructure opportunities created by the energy transition.

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-- Unnamed investor snaps up 887.5 MW of Glidepath's early-stage PV projects

US energy project developer Glidepath Ventures has offloaded a portfolio of early-stage solar projects in the US with a combined direct current (DC) capacity of 887.5 MW.

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-- Blackstone buys Canadian battery storage firm NRStor C&I

Blackstone (NYSE:BX) has finalised the acquisition of Canadian battery storage solutions provider NRStor C&I LP, which has assets with a total capacity exceeding 200 MWh.

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-- Alerion Clean Power takes over 3 wind farms in operation

Italian renewable energy company Alerion Clean Power SpA (BIT:ARN) has finalised the acquisition of three wind farms with a combined capacity of 119.75 MW, the company said in a press release.

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-- Spruce Finance grows solar portfolio with 27.6-MW purchase

Spruce Finance, a Texas-based solar asset manager, has completed the acquisition of a 27.6-MW portfolio of distributed generation (DG) solar projects for an undisclosed sum.

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-- Aquila European Renewables to raise EUR 25m for acquisitions

Aquila European Renewables Income Fund plc (LON:AERS) announced plans to raise EUR 25 million through a share issue to fund future acquisitions of renewable energy assets.

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-- Q Cells buys 940 MWp of solar project rights in Spain

Q CELLS, the solar products company with dual headquarters in South Korea and Germany, has bought from RIC Energy the development rights for 940 MWp of photovoltaic (PV) projects in Spain.

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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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