Weekly renewables M&A round-up (Nov 4-8)

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November 11 (Renewables Now) - Renewables Now covered M&A stories related to Pattern Enegry, PNE, Shell and others last week. Below is the full list of deals:

-- RedT to see Avalon merger through with loan from Bushveld

UK energy storage firm redT energy Plc (LON:RED) will receive an interim loan of up to USD 2.5 million from its US suitor Avalon Battery Corporation that should cover expenses while the companies negotiate their merger.

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-- Georgia Capital to buy HPP operator Hydrolea

UK-based holding company Georgia Capital Plc (LON:CGEO) announced the acquisition of Hydrolea Ltd, a Georgian operator of 21 MW of hydropower plants (HPPs) and owner of a greenfield 19-MW run-of-river project.

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-- CPPIB strikes USD-6.1bn deal to take Pattern Energy private

Canada Pension Plan Investment Board (CPPIB) has struck a deal to take Pattern Energy Group Inc (NASDAQ:PEGI) private at an enterprise value of about USD 6.1 billion, including debt.

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-- EDF buys battery, EV charging infrastructure startup in UK

Electricite de France SA (EPA:EDF) has brought Pivot Power, a UK battery storage and electric vehicle (EV) charging startup, under its renewable energy wing.

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-- Enkraft asks PNE to shed more light on takeover negotiations

One of the top 10 shareholders of PNE AG (ETR:PNE3) believes that investors might not have all the necessary information to decide on whether to tender their shares as part of the takeover offer launched by Morgan Stanley Infrastructure Partners (MSIP).

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-- PE firm receives US antitrust nod for investment in GE, Enel renewables JV

US private equity firm Hull Street Energy has received a nod from the Federal Trade Commission (FTC) for an investment in the renewables joint venture of US giant General Electric Co (NYSE:GE) and Italian energy group Enel SpA (BIT:ENEL).

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-- Shell to take over French floating wind expert Eolfi

Oil and gas giant Royal Dutch Shell Plc (AMS:RDSA) has sealed a deal to acquire French floating wind power specialist Eolfi SA for an undisclosed sum.

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-- Fengate reaches fin close on 73-MW wind project in Maine

Fengate Asset Management has achieved financial close on a 72.6-MW wind project in Maine, which the investment firm says it had bought during the summer from Longroad Energy Partners LLC (LEP).

Fengate has acquired the Weaver project on August 27, it announced.

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-- SDCL closes acquisition of 125 MW of Spanish CHP, biomass assets

UK investment firm SDCL Energy Efficiency Income Trust plc (LON:SEIT) has completed the acquisition of a 125-MW cogeneration portfolio in Spain from local construction group Sacyr SA (BME:SCYR).

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-- PNE's board says talks with other parties did not bring competitive offers

The management and supervisory boards of PNE AG (ETR:PNE3) have held confidential discussions with parties interested in acquiring the company other than the current bidder, but failed to attract a more competitive offer.

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-- CDPQ to raise Azure Power stake in USD-75m share issuance

Indian solar power producer Azure Power Global Ltd (NYSE:AZRE) expects to raise USD 75 million (EUR 67.8m) through a private placement of shares to existing investor Caisse de depot et placement du Quebec (CDPQ).

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-- Excelsior to buy 109 MW of Nebraska wind capacity from Invenergy

US renewable energy infrastructure investor Excelsior Energy Capital has agreed to acquire 90.1% of the sponsor equity interests held by Chicago-based developer Invenergy in two wind projects totalling 109 MW.

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-- Clearway Energy looks away from 419-MW wind purchase

US power company Clearway Energy Inc (NYSE:NYLD) has decided not to pursue the acquisition of the 419-MW Mesquite Star wind project.

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-- Ireland's ESB negotiating offshore wind stake buy - report

Irish state-owned utility Electricity Supply Board (ESB) is holding advanced discussions to acquire a 50% stake in the 450-MW Neart na Gaoithe (NnG) offshore wind farm in Scottish waters, Bloomberg reports.

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-- Elecnor, APG to expand partnership in transmission, renewables

Spanish group Elecnor SA (BME:ENO) said it signed a strategic partnership with Dutch pension fund manager APG Group NV to jointly invest and develop transmission and renewable energy projects other than wind power.

APG will take a 49% stake in Celeo Concesiones e Inversiones.

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-- Nautilus Solar buys 17.2-MW community solar portfolio in NY state

New Jersey-based Nautilus Solar Energy LLC has acquired a 17.2-MW portfolio of community solar photovoltaic (PV) projects from developer Borrego Solar Systems.

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-- Brookfield mulling USD-800m investment in India's ReNew Power - report

Canada's Brookfield Asset Management Inc (TSE:BAM.A) is holding talks to inject USD 800 million in Indian renewable power producer ReNew Power Ltd, the Economic Times reports, citing unnamed sources.

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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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