Weekly renewables M&A round-up (Mar 9-13)

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March 13 (Renewables Now) - Renewables Now covered M&A stories related to Pattern Energy, AES Tiete and others over the past week. Below is the full list of deals:

-- JERA takes almost 44% in Taiwan's Formosa 3 offshore wind project

Japanese energy supplier JERA Co Inc is taking a 43.75% stake in the up to 2-GW Formosa 3 offshore wind project in Taiwan, leaving 31.25% and 25% to developers Green Investment Group (GIG) and EnBW, respectively.

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-- Iberdrola becomes sole owner of 496-MW French offshore wind project

Iberdrola SA (BME:IBE) has acquired the 30% stake it did not previously own in Ailes Marines SAS, the company behind the 496-MW Saint Brieuc offshore wind project in French waters.

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-- CDPQ ups stake in India's Azure Power to 50.9%

Caisse de depot et placement du Quebec (CDPQ) has become the majority shareholder of Indian solar power producer Azure Power Global Ltd (NYSE:AZRE), the latter announced.

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-- Austria's Enery Development receives anti-trust nod to buy two Bulgarian cos

Bulgaria's Commission for Protection of Competition (CPC) said that it has granted approval to Austrian startup Enery Development to acquire 100% of Bulgarian companies ACWA Power CF Karad PV Park and Nomac Bulgaria.

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-- Aquila European Renewables raises EUR 40m amid strong demand

Aquila European Renewables Income Fund plc (LON:AERS) said it raised EUR 40 million before expenses in its share issue, exceeding its initial target thanks to robust demand from investors.

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-- Omnidian buys partner's solar O&M business

US solar protection plans provider Omnidian Inc said it has bought the commercial solar operations and maintenance (O&M) business of local independent engineering services company and partner PV Pros.

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-- Silverpeak buying 180-MW solar project from Tri Global

US renewables firm Tri Global Energy LLC (TGE) has agreed to offload its 180-MW Flatland Solar project in Texas to alternative investment manager Silverpeak.

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-- Octopus Renewables to buy 48-MW wind project in Sweden

Octopus Renewables Infrastructure Trust plc said it has agreed to purchase a construction-ready wind project in South Sweden with a capacity of 48 MW.

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-- Finnish Caverion to buy Denmark-based Gunderlund

Finnish energy-efficient solutions provider Caverion Oyj (HEL:CAV1V) announced it will buy for an undisclosed amount Denmark-based Gunderlund AS, which specialises in power grid expansions and upgrades.

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-- Goldman Sachs to invest up to USD 275m in distributed solar JV

US investment bank Goldman Sachs Group Inc (NYSE:GS) will spend up to USD 275 million to finance the activities of a new joint venture (JV) that will develop, construct, own and operate distributed solar power plants.

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-- ReneSola looking to shop for auction-worthy solar in Poland

ReneSola Ltd (NYSE:SOL) expressed confidence in the Polish renewables market and said it is looking for more local solar photovoltaic (PV) projects to buy.

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-- Pattern Energy's shareholders nod to takeover by CPPIB

The shareholders of Pattern Energy Group Inc (NASDAQ:PEGI) have given the thumbs-up to the company’s agreed takeover by Canada Pension Plan Investment Board (CPPIB).

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-- Greenbacker exits US distributed solar market

Greenbacker Renewable Energy Co LLC said it has exited the US residential solar market by selling its remaining portfolio of photovoltaic (PV) assets to an unnamed residential solar aggregator.

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-- Allete acquires 300-MW wind project in Oklahoma

The clean energy subsidiary of Allete Inc (NYSE:ALE) has bought the 300-MW Caddo wind project in Oklahoma, thus nearly tripling its total wind capacity in four years.

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-- Fred. Olsen Renewables to divest French onshore wind developer

The renewables unit of Norwegian group Bonheur ASA (OSL:BON) has signed a deal to sell its controlling stake in a French onshore wind projects developer for about EUR 46 million in net cash proceeds.

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-- RPMI Railpen takes lion's share in 46-MW Scottish wind farm

UK pension fund RPMI Railpen has purchased a 90% interest in the 46-MW Carraig Gheal Wind Farm in western Scotland from renewables developer GreenPower International Ltd.

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-- Ancala Partners buys 82-MW wind farm in Cyprus

Infrastructure investment manager Ancala Partners LLP has taken possession of an 82-MW wind farm in Cyprus, it said, without disclosing the value of the deal.

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-- Romania's Hidroelectrica seeking shareholder nod to submit final bid for CEZ assets

Romania's Hidroelectrica said it is seeking the approval of its shareholders to submit a final bid to take over local assets of Czech energy group CEZ.

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-- US Solar Fund closes buy of 177-MW solar bundle

US Solar Fund Plc (LON:USF) said it has finalised the acquisition of a 177-MW portfolio of solar parks located in three US states.

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-- Demand Power raises USD 71m to deploy energy storage systems

Demand Power Group Inc (DPGI), a Canadian energy services firm that offers a behind-the-meter system with incorporated energy storage, has secured USD 71 million from an equity raise and a project finance commitment.

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-- Eneva requests meeting with takeover target AES Tiete next week

Brazilian energy company Eneva SA (B3:ENEV3) wants to meet with the management and advisors of takeover target AES Tiete Energia SA (B3:TIET11) in order to discuss the rationale for the proposed transaction.

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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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