Weekly renewables M&A round-up (May 7-May 13)

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May 14 (Renewables Now) - Below you can find a list of Renewables Now stories related to merger and acquisition (M&A) and asset purchase/divestiture deals that originated in the week May 7 - May 13:

-- Grupo T-Solar to buy 5.6 MW of PV plants in Spain

Spanish solar power producer Grupo T-Solar has agreed to buy three operating solar photovoltaic (PV) plants at home with a combined capacity of 5.6 MW.

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-- E.on to acquire Vortex Energy's German onshore wind activities

A subsidiary of German utility E.on SE (ETR:EOAN) is acquiring the local activities of Kassel-based onshore wind projects developer Vortex Energy for an undisclosed sum.

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-- Lightsource BP makes IoT acquisition

UK-based solar and smart energy solutions firm Lightsource BP said it has acquired Internet of Things (IoT) specialist Ubiworx Systems of Ireland.

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-- Greencoat UK Wind to raise capital, lift stake in Scottish wind farms

Greencoat UK Wind plc (LON:UKW) announced it plans an up to GBP-118.8-million share offering, seeking to raise funds to further lift its shareholding in the Clyde wind farms in Scotland.

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-- SunPower cuts Q1 loss, looking to sell NA power plant development assets

SunPower Corp (NASDAQ:SPWR) announced a sequential reduction of its first-quarter (Q1) net loss, new forecasts for both the second quarter and full year, and plans to shed its North American power plant development assets.

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-- Brazil's Neoenergia seeks arbitration against M&A target Eletropaulo

Neoenergia SA, one of the suitors looking to buy Eletropaulo Metropolitana Eletricidade de Sao Paulo SA (BVMF:ELPL3), has requested arbitration proceedings against the target over a cancelled share offering.

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-- Enbridge monetises USD 1.3bn of renewables, incl German offshore wind

Canada-based energy infrastructure company Enbridge Inc (TSE:ENB) said it has agreed to sell 49% of its interests in certain renewable power assets to the Canada Pension Plan Investment Board (CPPIB) for CAD 1.75 billion.

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-- SolarEdge posts record Q1 profits, agrees to buy Israeli UPS firm

Photovoltaic (PV) inverters supplier SolarEdge Technologies Inc (NASDAQ:SEDG) posted record first-quarter (Q1) revenues and profitability, and also announced an acquisition in the field of Uninterruptible Power Supply (UPS).

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-- ContourGlobal closes buy of Acciona's Spanish CSP portfolio

ContourGlobal Plc (LON:GLO) said it has completed its near-EUR-1-billion acquisition of Acciona SA's (BME:ANA) 250-MW solar thermal power portfolio in Spain.

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-- Renova, Brookfield fail to close deal on Brazilian wind assets

Brazilian renewables firm Renova Energia SA (BVMF:RNEW11) announced it has ended negotiations with Brookfield Energia Renovavel regarding the potential sale of certain wind assets, without reaching a deal.

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-- Alstom to offload stake in renewables JV with GE

French transport systems group Alstom (EPA:ALO) said today it has agreed to exit its joint renewables and grid businesses by selling its interest to US partner General Electric Co (NYSE:GE).

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-- Enviva sells common units to back wood pellet projects

US wood pellets supplier Enviva Holdings LP said it has offloaded certain limited partner interests in its unit Enviva Partners so as to finance projects.

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-- China's State Grid still looking to buy into 50Hertz - report

IFM Investors Pty Ltd has renewed talks with State Grid Corporation of China in relation to the latter’s plan to buy the Australian infrastructure fund’s remaining 20% stake in 50Hertz Transmission GmbH, Reuters reports.

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-- Innogy boards cautious about E.on bid

The executive board and the supervisory board of German renewables-focused utility Innogy SE (ETR:IGY) have both decided not to issue, at this point, any recommendation in relation to the recently launched voluntary public takeover offer by E.on SE (ETR:EOAN).

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-- EDF backs Chile renewables plan with peak-demand purchase

French electric utility Electricite de France SA (EPA:EDF) has acquired gas and peak-demand capacity in Chile so it could develop more renewable energy projects in the country, it said.

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-- China's CTG bids EUR 9.1bn to take control of Portugal's EDP

Chinese state-owned utility China Three Gorges Corp (CTG) said it has decided to launch a voluntary cash tender offer for the shares it does not own in Portuguese utility Energias de Portugal SA (ELI:EDP).

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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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