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Weekly renewables M&A round-up (Oct 28-Nov 1)

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November 1 (Renewables Now) - Renewables Now covered M&A stories related to Shell, Ørsted, PNE and others last week. Below is the full list of deals:

-- Macquarie to lift stake in 576-MW Gwynt y Mor wind farm off Wales

Macquarie Infrastructure and Real Assets (MIRA) has agreed to lift its shareholding in the 576-MW Gwynt y Mor offshore wind farm in the UK by purchasing an additional 10% stake for an undisclosed sum.

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-- Battery maker ESS raises USD 30m to automate manufacturing process

US long-duration flow energy storage systems developer ESS Inc announced it has raised USD 30 million in a Series C funding round led by Breakthrough Energy Ventures and SoftBank Group’s SB Energy.

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-- Southern Power buys 136-MW wind project in Washington from RES

US utility Southern Power announced the acquisition of a 136-MW wind project in Washington state from UK-based Renewable Energy Systems (RES).

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-- Mitsui to exit Canadian partnership with 679 MW of wind, solar assets

Japan’s Mitsui & Co Ltd (TYO:8031) said it has agreed to offload its 30% interest in a joint venture that owns 679 MW of installed wind and solar power capacity in Canada.

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-- Dominion buys 72-MW under-construction PV plant from First Solar

US utility Dominion Energy Inc (NYSE:D) has acquired from First Solar Inc (NASDAQ:FSLR) a 72-MW solar park being built in South Carolina.

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-- Worley formally takes over offshore wind installer 3sun

Australian engineering major Worley Ltd (ASX:WOR) announced it has finalised its takeover of 3sun Group Ltd, a UK-based offshore wind installation, inspection and maintenance business.

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-- Shell gets antitrust clearance for Cosan Biomassa deal

Brazilian antitrust regulator Cade gave the green light to the acquisition of a 81.5% stake in Cosan Biomassa by Anglo-Dutch oil and gas major Royal Dutch Shell Plc (AMS:RDSA).

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-- ABB to buy 67% stake in Chinese EV charging tech firm

Switzerland’s ABB (VTX:ABBN) announced it will acquire a 67% stake in Shanghai Chargedot New Energy Technology Co Ltd, a Chinese company offering charging solutions for electric vehicles (EVs).

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-- Green Arrow Capital to buy 320-MW Quercus renewable energy platform

Italian alternative investments specialist Green Arrow Capital (GAC) has agreed to acquire from Quercus Investment Partners a Luxembourg platform managing more than 320 MW of installed solar and wind capacity in five countries.

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-- PSEG to discuss equity investment in Ørsted's 1.1-GW Ocean Wind project

Public Service Enterprise Group Inc (NYSE:PEG), or PSEG, will be exclusively negotiating the acquisition of a 25% stake in the 1,100-MW Ocean Wind project in New Jersey waters from Ørsted A/S (CPH:ORSTED).

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-- EDP buys into 278-MW US solar portfolio

Energias de Portugal SA (ELI:EDP) announced it has bought a 50% interest in a 278-MW US solar portfolio developed by First Solar Inc (NASDAQ:FSLR).

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-- AMP funds to take Malakoff's 50% in 420-MW Aussie wind farm

Australian infrastructure investor AMP Capital will acquire Malakoff Corp Bhd’s 50% stake in the 420-MW Macarthur wind farm in Victoria state, Australia in a roughly AUD-880-million deal.

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-- GFG Alliance to form steel major with environment in mind

Sanjeev Gupta’s GFG Alliance plans to merge all of its steel businesses into a single entity and decarbonise it by 2030, relying on clean technologies and renewables, as well as carbon capture and storage.

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-- SR Investimenti acquires rooftop PV portfolio in Italy

The Milan-based arm of Independent power producer Building Energy has agreed to sell nine solar photovoltaic (PV) plants of its Italian portfolio to Italian SR Investimenti S.r.l.

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-- Atlantis to buy project development and O&M teams of Scottish hydro operator

SIMEC Atlantis Energy Ltd (LON:SAE) is buying the project development, consulting and operation and maintenance (O&M) activities of Scottish mini-hydro specialist Green Highland Renewables (GHR), it announced.

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-- SB Energy to buy 1.7-GW PPA-backed solar project portfolio in US

SB Energy Global Holdings Ltd announced it has agreed to acquire a portfolio of US solar projects with a combined capacity exceeding 1.7 GW and newly signed long-term power purchase agreements (PPAs).

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-- Sky Solar gets new major stockholder

Japan NK Investment KK has completed the purchase of a 36.3% stake in Hong Kong-based independent solar power producer (IPP) Sky Solar Holdings Ltd (NASDAQ:SKYS), the latter announced.

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-- Clarke Energy buys Romania's TEB Energy Business, Greek unit Genelco

UK-based multinational company specialised in the engineering, installation and the maintenance of engine-based power plants Clarke Energy said it has acquired Romanian energy service company TEB Energy and its Greek subsidiary Genelco Power Systems.

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-- Morgan Stanley kicks off tender offer for Germany's PNE

The acceptance period for the voluntary public takeover offer targeting the stock of German renewables company PNE AG (ETR:PNE3) was initiated on October 31.

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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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