Weekly renewables M&A round-up (Oct 11-15)

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October 15 (Renewables Now) - Renewables Now covered M&A stories about India's Reliance Industries, BP, Eneos, Plug Power and others over the past week. Below is the full list:

-- India's Reliance buying solar module maker REC in USD 771m deal

Reliance New Energy Solar, part of Indian conglomerate Reliance Industries Ltd (BOM:500325) has agreed to acquire Norwegian solar module manufacturer REC Solar Holdings AS, also known as REC Group, in a deal with an enterprise value of USD 771 million.

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-- Reliance to take 40% of Indian solar EPC contractor Sterling and Wilson

Indian conglomerate Reliance Industries Ltd (BOM:500325) has sealed definitive agreements to buy a 40% stake in domestic solar EPC contractor Sterling and Wilson Solar Ltd (BOM:542760).

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-- BP snatches US start-up Blueprint Power to push urban energy flexibility

BP Plc (LON:BP) said it has taken over New York-based firm Blueprint Power whose technology turns buildings into flexible power assets that generate, store and trade green energy in thickly-populated urban areas.

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-- Eneos strikes USD 1.78bn deal for Japan Renewable Energy

Japanese conglomerate Eneos Holdings Inc (TYO:5020) announced it has reached a deal to acquire domestic renewables developer and operator Japan Renewable Energy (JRE) for about JPY 200 billion, confirming earlier local media reports.

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-- Ecotricity's hostile bid for Good Energy lapses without enough support

Ecotricity's sweetened hostile buyout bid for British renewable power and gas supplier Good Energy Group Plc (LON:GOOD) lapsed as the suitor did not secure the minimum required level of acceptances.

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-- VH Global Sustainable Energy Opportunities buys solar project site in Australia

UK investment company VH Global Sustainable Energy Opportunities (LON:GSEO) announced the purchase of a site for a 5-MW solar power project near Adelaide, South Australia.

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-- India's Reliance injects EUR 25m in German wafer maker NexWafe

NexWafe GmbH, a German manufacturer of monocrystalline silicon wafers for solar panels, said it has received a EUR-25-million investment from a unit of Indian conglomerate Reliance Industries Ltd (BOM:500325).

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-- Ence selling 373-MW solar projects portfolio in Spain

Spanish pulp producer and energy group Ence Energia y Celulosa SA (BME:ENC) is selling a portfolio of 373 MW of solar PV projects in Spain.

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-- Freyr forms US clean battery cell JV with Koch Strategic Platforms

Norwegian battery cells developer Freyr Battery (NYSE:FREY; FREYR) unveiled a new, equally-held joint venture with Koch Strategic Platforms (KSP) to explore the development of a clean battery cell manufacturing facility in the US with an annual capacity of 50 GWh by 2030.

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-- Technique Solaire snaps up 34-MWp Indian solar park

French renewable power producer Technique Solaire Group has finalised the acquisition of a 34-MWp ground-mounted solar power plant in India's most populous state of Uttar Pradesh, taking to 68 MWp the total capacity of its photovoltaic (PV) plants in the South Asian country.

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-- Covanta's shareholders clear EQT's acquisition proposal

The shareholders of Covanta Holding Corp (NYSE:CVA) have overwhelmingly voted in favour of the US waste-to-energy (WtE) company’s planned USD-5.3-billion acquisition by EQT Infrastructure.

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-- EDF Renewables invests in Vietnamese rooftop PV developer SkyX Solar

EDF Renewables has invested an undisclosed sum in a unit of Vietnamese investment manager VinaCapital Group that owns a 100-MWp portfolio of rooftop solar assets.

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-- TotalEnergies, Simply Blue form US floating wind JV

French energy major TotalEnergies SE (EPA:TTE) and Irish floating offshore wind company Simply Blue Group have created a joint venture (JV) targeting floating offshore wind opportunities in the US.

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-- RES unloads 50-MW Scottish battery project to TagEnergy

UK-based RES Group said it has offloaded a 50-MW battery energy storage project in Scotland to renewables investor TagEnergy.

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-- Globeleq takes ownership of 66-MWp solar park in Egypt

Independent power producer (IPP) Globeleq said it has acquired the owner of a 66-MWp solar plant within the Benban photovoltaic (PV) complex in Egypt.

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-- Downing Renewables completes GBP 15m equity raising

Britain's Downing Renewables and Infrastructure Trust Plc (LON:DORE) announced it has secured about GBP 14.9 million after wrapping up a share issuance launched last month to fund more green energy asset purchases.

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-- Shell's Silicon Ranch buys carbon offsets co Clearloop

Independent power producer Silicon Ranch Corporation, the US solar platform of Royal Dutch Shell Plc (AMS:RDSA), announced it has taken over Clearloop, a Nashville-based business that helps other businesses adopt solar power.

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-- Quanta Services wraps up USD-3bn purchase of Blattner

Specialised contracting services company Quanta Services Inc (NYSE:PWR) today announced the completion of its USD-3-billion takeover of renewables infrastructure builder Blattner Holding Company.

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-- Plug Power, Airflow to develop aircraft propulsion system

US turnkey hydrogen solutions provider Plug Power Inc (NASDAQ:PLUG) has invested in aircraft maker Airflow as the two companies team up to develop a hydrogen fuel cell-based propulsion system for sub-regional aircraft.

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-- Plug Power joins large Aussie electrolyser production plan, buys cryogenic tech co

Turnkey hydrogen solutions provider Plug Power Inc (NASDAQ:PLUG) continued its series of partnership announcements, unveiling its involvement in a huge electrolyser factory plan in Australia and its acquisition of a cryogenic technologies company in the US.

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-- DSD acquires 41.5 MW of NY, Maryland community solar projects

US outfit Distributed Solar Development LLC (DSD) said it has agreed to acquire a portfolio of 41.5 MW of community solar projects, some with planned energy storage, located in the states of New York and Maryland.

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-- SaaS co RatedPower secures USD 6m in funding

Spain-based developer of software for solar farms RatedPower has pocketed USD 6 million in a Series A funding round led by European venture capital fund Seaya Ventures, the company announced.

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-- Global solar sector sees strong growth in corp funding in 9-mo 2021

Total solar power corporate funding around the world, including venture capital (VC), public market and debt financing deals, surged by 190% year-on-year to USD 22.8 billion in the first nine months of 2021, Mercom Capital Group reported.

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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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