-- Solar developer EEW to list via SPAC merger, gets USD-650m valuation
In order to secure a listing on the Nasdaq Stock Market, London-based solar project developer EEW Eco Energy World Plc has agreed to a business combination with a special purpose acquisition company (SPAC) that values its equity at USD 650 million.
-- EC approves Blackstone’s investment in Dutch Esdec Solar
The European Commission (EC) gave the go-ahead to US investment giant Blackstone’s (NYSE:BX) agreement to invest in Esdec Solar Group BV, a Dutch rooftop solar mounting systems provider and a portfolio company of European private equity firm Rivean Capital.
Solar project developer and operator ReneSola Ltd (NYSE:SOL) has acquired UK-based Emeren Ltd, which develops solar and battery projects in Europe and has a pipeline of over 2.5 GW at different stages of development.
Lodbrok Capital LLP, which says it is one of the largest investors in REC Silicon ASA (OSE:RECSI), is unhappy with the aspirations of South Korea’s Hanwha Group to contract the entire output of the Moses Lake polysilicon factory given its statute of being, while indeed the largest one, still just a minority shareholder.
-- American Airlines invests in green H2 infrastructure firm Universal Hydrogen
American Airlines Group (NASDAQ:AAL) has made a strategic equity investment of an undisclosed amount in US green hydrogen distributor Universal Hydrogen Co as part of its carbon reduction goal by 2035.
-- Hydro-Quebec to get hold of New England's largest hydro fleet in USD-2bn deal
A unit of Canadian electric utility Hydro-Quebec has signed a USD-2-billion deal to acquire US hydropower company Great River Hydro LLC, operating in New England, from affiliates of private equity firm ArcLight Capital Partners LLC.
-- Enel wraps up EUR-137m sale of Russian business
Italian electric utility and major renewables player Enel SpA (BIT:ENEL) said it has completed the divestment of its entire shareholding in its Russian subsidiary in a deal worth about EUR 137 million.
-- Shell, Foresight snap up 370-MW Aussie wind-solar-battery project
British oil giant Shell Plc (LON:SHEL) said it has teamed up with Australia’s Foresight, formerly Infrastructure Capital Group to acquire the development rights of a 370-MW hybrid renewable energy project in Western Australia.
-- Alternus secures USD-863m valuation, Nasdaq listing with SPAC merger
Ireland-based and solar-focused independent power producer (IPP) Alternus Energy Group Plc (OSE:ALT) has agreed a merger with a blank check company that will give it a US listing on Nasdaq and an initial equity value of about USD 863 million.
Estonian independent power producer Sunly has raised around EUR 200 million from existing shareholders and new investor Mirova to build and expand its renewables portfolio in the Baltic countries and Poland, the companies said.
-- IBC SOLAR sells 120 MW of solar projects in Poland
A division of German photovoltaics specialist IBC Solar AG has agreed to sell the rights to two solar photovoltaic (PV) projects with a combined capacity of 120 MW in Poland to Israeli energy company Afcon Renewable Energy.
-- Turkey's Sabanci Holdings buys 272-MW solar project in Texas
Advanced Power AG, a Switzerland-based power infrastructure developer with an 8-GW renewables pipeline in the US, announced it has sold a 272-MW solar project in Texas to a unit of Turkish conglomerate Sabanci Holdings (IST:SAHOL).
-- Japan's Chubu invests in geothermal start-up Eavor
Japan’s Chubu Electric Power Co Inc (TYO:9502) has agreed to make a direct investment in Canadian geothermal start-up Eavor Technologies Inc, which is looking to commercialise its closed loop geothermal technology Eavor-Loop.