Renewables Now covered M&A stories about BP, KKR, Morgan Stanley and others in the past week. Below is the full list:
-- Sweden's Eolus selling 750-MW solar-battery project in Arizona
Swedish renewables developer Eolus Vind AB (STO:EOLU-B) said it has clinched a deal to offload a mid-stage US development project with 750 MW of initial aggregate solar generation and battery storage capacity.
-- US Solar Fund to explore potential sale, other options
US Solar Fund Plc (LON:USF) announced it has hired financial advisers to help it consider all potential strategic options to maximise shareholder value, including the launch of a formal sale process for the entire company.
-- Swedish electrofuel firm Liquid Wind raises EUR 15.2m in Series B capital
Liquid Wind, a Swedish company developing electrofuel production facilities, has raised EUR 15.2 million in Series B financing from existing investors and UK-based hydrogen specialist investment fund HyCap Fund I SCSp.
-- Vargronn JV completes Dogger Bank stake acquisition
Vargronn, a joint venture between Plenitude, the decarbonisation business of Italian oil group Eni SpA (BIT:ENI), and Norwegian energy investor HitecVision, has completed the acquisition of Plenitude’s 20% stake in the 3.6-GW Dogger Bank offshore wind farm in the UK, which will become the world’s largest when completed in 2026.
-- BP to buy US biogas producer Archaea Energy for USD 4.1bn
British oil and gas major BP Plc (LON:BP) has agreed to acquire US renewable natural gas (RNG) producer Archaea Energy Inc (NYSE:LFG) for USD 3.3 billion in cash plus the assumption of around USD 800 million in net debt, it was announced.
-- Solarkiosk forms JV to roll out solar rural malls in rural east Africa
Berlin-based Solarkiosk Solutions GmbH announced a joint venture with renewables development and engineering firm East African Power Ltd to build and operate solar-powered business centres, called The Pulse, in rural communities in Rwanda and the African Great Lakes region.
-- India's SJVN to enter 1-GW floating solar development JV in Assam
The green energy arm of Indian state-owned power generator Satluj Jal Vidyut Nigam (SJVN) has signed a Memorandum of Understanding (MoU) with Assam Power Distribution Co Ltd (APDCL) to develop 1 GW of floating solar projects in the northeastern state of Assam.
Lodbrok Capital LLP announced it has built a stake that makes it the largest shareholder in REC Silicon ASA (OSE:RECSI) other than South Korea’s Hanwha Group, noted it could buy even more shares and once again fired shots at the board of the Norway-based company for not ameliorating its previously shared concerns.
-- Repsol, Engie bidding for Spanish renewables platform with 6-GW portfolio - report
Spanish multi-energy group Repsol SA (BME:REP) and French utility group Engie SA (EPA:ENGI) are bidding to acquire a Spain-based renewable energy platform with an over 6-GW portfolio of projects under development, Reuters reports.
-- Wafra takes control of solar developer Mission Clean Energy
New York-based global alternative asset manager Wafra Inc has bought a controlling interest in utility-scale renewables and storage developer Mission Clean Energy LLC in a transaction also backed by clean infrastructure investor Aggregate Power Infrastructure LLC (API).
-- Hong Kong PE firm to help Maoneng build 1.9-GW Aussie battery, solar portfolio
Australian renewables developer Maoneng Group has teamed up with Hong Kong-based private equity firm Gaw Capital Partners to fast-track a 1.9-GW portfolio of predominantly battery projects in Australia, it was announced.
-- Octopus Energy, Nexta team up on 1.1 GW of renewables in Italy
UK’s Octopus Energy Group said it is setting up a joint venture (JV) with Milan-based renewables developer Nexta Capital Partners to back the development of 1.1 GW of new onshore wind, solar and energy storage projects in southern Italy by 2025.
-- Mubadala takes stake in offshore wind developer Skyborn Renewables
Abu Dhabi's investment fund Mubadala Investment Company has taken a stake in Skyborn Renewables, a German offshore wind farm developer with a 30-GW pipeline of projects in different stages of development.
-- Enagas sells 5% stake in renewables unit to Spain's Navantia
Spanish gas grid operator Enagas SA (BME:ENG) has signed an agreement to sell a 5% stake in its renewable gases unit Enagas Renovable to Spain’s state-owned shipbuilder Navantia, both companies announced.
-- CVC paying EUR 300m to obtain joint control over Enel's Gridspertise
Italian utility Enel SpA (BIT:ENEL) has agreed to sell a 50% interest in grid digitalisation specialist Gridspertise Srl to private equity fund CVC Capital Partners Fund VIII so they could operate the company in a joint control regime.
-- Morgan Stanley prepares to put PNE on the block
Morgan Stanley (NYSE:MS) is planning to launch preliminary talks on the sale of its entire interest in German wind power-focused renewables company PNE AG (ETR:PNE3) about three years after failing to take a majority stake in the business.
-- SIMEC Atlantis to sell majority stake in tidal engineering arm to management
Sustainable energy projects developer SIMEC Atlantis Energy Ltd (LON:SAE) has entered into an agreement to sell a majority stake in its Advanced Tidal Engineering and Services (ATES) division to the business’ own management team.