Weekly renewables M&A round-up (May 16-20)

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May 20 (Renewables Now) - Renewables Now covered M&A stories about PNE, Chevron, Siemens Gamesa, KKR and others in the past week. Below is the full list:

-- Slovakian geothermal demo gains pace with new investor on board - report

Czech power and gas distributor Energeticky a Prumyslovy Holding (EPH) has become a co-owner in a pilot geothermal project in Slovakia that is set to be scaled up in an effort to lower the country’s dependence on Russian gas.

Read more: https://renewablesnow.com/news/slovakian-geothermal-demo-gains-pace-with-new-investor-on-board-report-784661/

-- Greencoat UK Wind to buy 12.5% in 1.2-GW Hornsea One

Greencoat UK Wind Plc (LON:UKW) said it has agreed to buy a net 12.5% stake in the 1.2-GW Hornsea One wind farm in UK waters in a deal valued at GBP 400 million.

Read more: https://renewablesnow.com/news/greencoat-uk-wind-to-buy-125-in-12-gw-hornsea-one-784667/

-- Aquila European Renewables buying 30-MWp solar park in Spain

London-listed investment firm Aquila European Renewables Income Fund plc (LON:AERS), or AERIF, has clinched a deal to acquire a 30-MWp solar park in Spain’s Almeria region.

Read more: https://renewablesnow.com/news/aquila-european-renewables-buying-30-mwp-solar-park-in-spain-784669/

-- Ørsted to acquire Mars-contracted wind farm in Illinois

Danish clean energy group Ørsted A/S (CPH:ORSTED) has entered into an agreement to buy the 121-MW Ford County Wind power plant in the US state of Illinois from funds managed by Ares Management Corp’s (NYSE:ARES) Infrastructure Opportunities strategy.

Read more: https://renewablesnow.com/news/rsted-to-acquire-mars-contracted-wind-farm-in-illinois-784704/

-- Casino puts renewables biz GreenYellow up for sale

French retail group Casino Guichard Perrachon SA (EPA:CO) confirmed it has initiated a process to sell its renewables business GreenYellow with a deal anticipated by the end of 2022.

Read more: https://renewablesnow.com/news/casino-puts-renewables-biz-greenyellow-up-for-sale-784706/

-- Green hydrogen developer HH2E to raise EUR 12m from UK investors

HydrogenOne Capital Growth plc (LON:HGEN) and Foresight Group LLP have agreed to acquire minority stakes in HH2E AG for a total of at least EUR 12 million to support the development of green hydrogen projects in the pipeline of the Germany-based company.

Read more: https://renewablesnow.com/news/green-hydrogen-developer-hh2e-to-raise-eur-12m-from-uk-investors-784723/

-- Energy storage firm Dragonfly to go public in blank check deal

Dragonfly Energy Corp, a Reno, Nevada-based maker of deep cycle lithium-ion batteries, said it will go public via a merger with blank check company Chardan NexTech Acquisition 2 Corp (NASDAQ:CNTQ).

Read more: https://renewablesnow.com/news/energy-storage-firm-dragonfly-to-go-public-in-blank-check-deal-784728/

-- Enkraft raises PNE interest ahead of AGM battle with Morgan Stanley

Activist investor Enkraft has raised its ownership interest in German renewables developer PNE AG (ETR:PNE3) ahead of a meeting that will decide whether Morgan Stanley (NYSE:MS) will gain further control over the company’s supervisory board.

Read more: https://renewablesnow.com/news/enkraft-raises-pne-interest-ahead-of-agm-battle-with-morgan-stanley-784813/

-- First Solar to sell Japanese platforms to PAG Real Assets

Thin-film photovoltaic (PV) modules maker First Solar Inc (NASDAQ:FSLR) has agreed to sell its 293-MW direct current (DC) utility-scale solar project development platform in Japan along with its local solar operations and maintenance (O&M) platform.

Read more: https://renewablesnow.com/news/first-solar-to-sell-japanese-platforms-to-pag-real-assets-784854/

-- Downing to acquire 30-MW Finnish wind farm from Energiequelle

London-based investment management firm Downing LLP announced that one of its entities will buy a 30-MW onshore wind farm in Finland from German project developer Energiequelle GmbH.

Read more: https://renewablesnow.com/news/downing-to-acquire-30-mw-finnish-wind-farm-from-energiequelle-784864/

-- ACEN, Puri Usaha announce renewables JV in Indonesia

The Philippines-based AC Energy Corp (PSE:ACEN) announced that it has agreed to form a renewable energy-focused joint venture (JV) in Indonesia with domestic firm Puri Usaha Group, eyeing large-scale solar, battery energy storage and green hydrogen projects.

Read more: https://renewablesnow.com/news/acen-puri-usaha-announce-renewables-jv-in-indonesia-784884/

-- Abu Dhabi's IHC concludes USD-2bn investment in Adani cos

Abu Dhabi-based conglomerate International Holding Company PJSC (IHC) has finalised its INR-154-billion investment in a trio of Adani Group portfolio companies in India, including Adani Green Energy Ltd (BOM:541450), or AGEL.

Read more: https://renewablesnow.com/news/abu-dhabis-ihc-concludes-usd-2bn-investment-in-adani-cos-784919/

-- Enercity snaps up 365-MW onshore wind portfolio in Germany

Hanover-based energy supplier Enercity AG said it has agreed to acquire a 365-MW portfolio of onshore wind farms in Germany in a deal that will double its total wind generation capacity to 712 MW.

Read more: https://renewablesnow.com/news/enercity-snaps-up-365-mw-onshore-wind-portfolio-in-germany-784935/

-- REG stockholders approve USD-3.15bn acquisition by Chevron

The stockholders of Renewable Energy Group Inc (NASDAQ:REGI) have given the green light to the bio-based diesel producer’s pending USD-3.15-billion takeover by oil giant Chevron Corp (NYSE:CVX), it was announced.

Read more: https://renewablesnow.com/news/reg-stockholders-approve-usd-315bn-acquisition-by-chevron-785027/

-- Energiekontor sells 7.2-MW wind project in Germany

German renewables developer and operator Energiekontor AG (ETR:EKT) has sold a 7.2-MW wind farm project in North Rhine-Westphalia to Danish investment firm Difko.

Read more: https://renewablesnow.com/news/energiekontor-sells-72-mw-wind-project-in-germany-785032/

-- Siemens Energy confirms mulling bid for rest of SGRE

Munich-based Siemens Energy AG (ETR:ENR) confirmed media reports that it is considering a cash tender offer for the shares it does not already own in Siemens Gamesa Renewable Energy SA (BME:SGRE).

Read more: https://renewablesnow.com/news/update-siemens-energy-confirms-mulling-bid-for-rest-of-sgre-785049/

-- APG, OMERS to jointly buy Dutch solar developer Groendus

Pension investor APG and OMERS Infrastructure have sealed a deal to jointly acquire Dutch renewables developer Groendus from NPM Capital.

Read more: https://renewablesnow.com/news/apg-omers-to-jointly-buy-dutch-solar-developer-groendus-785076/

-- KKR makes GBP-1.75bn all-cash offer for ContourGlobal

UK thermal and renewable power generator ContourGlobal plc (LON:GLO) has struck an all-cash deal to be acquired by US private equity firm KKR & Co (NYSE:KKR) for GBP 1.75 billion.

Read more: https://renewablesnow.com/news/kkr-makes-gbp-175bn-all-cash-offer-for-contourglobal-785118/

-- KGAL gets access to 300-MW-plus wind, solar pipeline in Italy

German investment and asset manager KGAL GmbH & Co KG announced it has acquired a majority stake in Italian renewables developer Baltex Progetti, which has a pipeline of over 300 MW of wind and solar power projects in Italy.

Read more: https://renewablesnow.com/news/kgal-gets-access-to-300-mw-plus-wind-solar-pipeline-in-italy-785182/

-- Captona, SJI venture buys solar-plus-storage plant in Massachusetts

Catamaran Renewables, a joint venture between investment firm Captona and South Jersey Industries (NYSE:SJI), has acquired a 5.66-MW solar park with 5.2 MWh of energy storage in Massachusetts.

Read more: https://renewablesnow.com/news/captona-sji-venture-buys-solar-plus-storage-plant-in-massachusetts-785266/

-- UK RSK Group buys Welsh wind turbine maintenance co Windtechs

UK-based environmental, engineering and technical services provider RSK Group has acquired Welsh wind turbine maintenance and repair company Windtechs to boost its renewable energy offering.

Read more: https://renewablesnow.com/news/uk-rsk-group-buys-welsh-wind-turbine-maintenance-co-windtechs-785322/

-- JSW in exclusivity to buy Indian renewable power producer Mytrah - report

Indian conglomerate JSW Group has signed an exclusivity agreement to acquire Mytrah Energy India Pvt, a domestic independent renewable power producer with roughly 2 GW of capacity in operation, Mint reported.

Read more: https://renewablesnow.com/news/jsw-in-exclusivity-to-buy-indian-renewable-power-producer-mytrah-report-785327/

-- Pure Hydrogen, Advik to set up hydrogen supply JV in India

Pure Hydrogen Corp Ltd (ASX:PH2), an Australian developer of hydrogen and gas projects, said it has agreed a term sheet for setting up a joint venture (JV) in India with local automotive components producer Advik Hi-Tech Pvt Ltd to be owned 49% by Pure Hydrogen and 51% by its Indian partner.

Read more: https://renewablesnow.com/news/pure-hydrogen-advik-to-set-up-hydrogen-supply-jv-in-india-785395/

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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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