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

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October 8 (Renewables Now) - Renewables Now covered M&A stories about SunPower, KKR, RWE, Eni and others over the past week. Below is the full list:

-- Adani Green wraps up USD-3.5bn acquisition of SB Energy India

Indian renewables developer Adani Green Energy Ltd (BOM:541450) said it has closed the USD-3.5-billion acquisition of SB Energy Holdings Ltd, which owns a roughly 5-GW renewables portfolio in India.

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-- Obton sells 35-MW Dutch solar farm to German investor CEE Group

Denmark-based solar energy investor and asset manager Obton A/S said it has sold a solar farm of almost 35 MW in the Netherlands to German investment company CEE Group.

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-- Green hydrogen co Lhyfe raises EUR 50m to grow in France, abroad

French green hydrogen company Lhyfe announced it has raised EUR 50 million in a Series A funding round led by SWEN Capital Partners and Banque des Territoires, with additional participation from its original investors.

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-- Statkraft snaps up 346 MW of wind farms in Germany, France

Statkraft AS has purchased 346 MW of wind farms in Germany and France from wind farm operator Breeze Three Energy for an undisclosed sum.

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-- Scotland's ILI Group sells 50-MW battery storage project to Eelpower

Scotland-based clean energy developer Intelligent Land Investments Group (ILI Group) said it has finalised the sale of its 50-MW Fordtown battery storage project located in Kintore, Aberdeenshire.

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-- ERG buys 152.4 MW of renewables in France, Germany

Local subsidiaries of Italian energy company ERG SpA (BIT:ERG) are acquiring a 152.4-MW operational wind and solar portfolio in France and Germany.

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-- Octopus Renewables buys 58.8 MW of wind farms in Poland

Octopus Renewables Infrastructure Trust plc (LON:ORIT) said it has purchased two wind projects in Poland with a combined capacity of 58.8 MW from German renewables developer PNE AG (ETR:PNE3).

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-- Spain's Ignis secures EUR 625m backing from Egypt's EFG Hermes

Spanish renewables developer and energy trader Ignis Energy Holdings has agreed to sell an unspecified stake to Egyptian financial services company EFG Hermes Holding SAE in exchange for a total investment of over EUR 625 million, which will further the development of its 20-GW-plus platform.

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-- Greenbacker snaps up two Colorado airport solar projects

Greenbacker Renewable Energy Company LLC said it has acquired, through a wholly-owned subsidiary, two pre-operational solar projects at Colorado's Denver International Airport with a total capacity of 18.4 MW in direct current (DC).

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-- SunPower buys residential solar co Blue Raven, mulls sale of CIS division

SunPower Corp (NASDAQ:SPWR) announced it has taken over US residential solar provider Blue Raven Solar, whilst exploring strategic options for its own Commercial & Industrial Solutions (CIS) business.

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-- KKR to lift stake in Philippine IPP First Gen to 19.9%

An entity owned by global investor KKR & Co Inc (NYSE:KKR) will buy additional shares in the Philippines’ First Gen Corporation (PSE:FGEN) that will lift its shareholding in the independent power producer to 19.9%.

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-- EOS IM to sell 32-MW solar, wind portfolio in Italy to French investor

EOS Investment Management (EOS IM) has agreed to sell a 32-MW portfolio of solar photovoltaic (PV) and wind parks in Italy to Prejeance Industrial, a French renewables investor backed by Asterion Industrial Partners.

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-- Canada's Westbridge buys 221-MWp mid-stage solar development in Texas

Canadian solar and energy storage developer Westbridge Energy Corporation (TSXV:WEB) has bought a 221-MWp photovoltaic (PV) project in Texas, at mid-stage of development, from US sector player Aelius Solar Corp.

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-- SUNfarming gets financing to buy and build 20-MWp Polish solar portfolio

German solar engineering company SUNfarming GmbH has secured financing for the acquisition and construction of a 20-MWp solar portfolio in Poland.

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-- European Energy buys 85.8-MW wind, solar portfolio from Vattenfall

Danish wind and solar developer European Energy A/S has acquired an 85.8-MW portfolio of wind and solar assets from Swedish state-owned utility Vattenfall AB.

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-- Takkion buys US wind O&M services provider Airway Services

US logistics company Takkion TP&L Holdings LLC announced the acquisition of Airway Services LLC, a domestic provider of project management, operations and maintenance (O&M) services for utility-scale wind energy projects, for an undisclosed amount.

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-- Ares-managed funds to buy majority stake in Apex Clean Energy

Funds and other accounts managed by the Infrastructure and Power strategy of Ares Management Corporation (NYSE:ARES) have agreed to buy a controlling interest in Apex Clean Energy.

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-- Plug Power, SK E&S to build Korean Gigafactory via new Asian JV

US-based turnkey hydrogen solutions provider Plug Power Inc (NASDAQ:PLUG) and SK E&S have set up an Asian joint venture with plans to build a “Gigafactory” in a key metropolitan area in South Korea by 2024.

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-- Babcock & Wilcox buys 60% of solar EPC contractor Fosler

US renewable, environmental and thermal energy technologies provider Babcock & Wilcox Enterprises Inc (NYSE:BW) has finalised the purchase of a 60% stake in solar energy contractor Fosler Construction Company Inc.

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-- Japan's Eneos keen on buying JRE for USD 1.8bn - report

Japanese oil major Eneos Holdings Inc (TYO:5020) plans to buy domestic renewables developer and plant operator Japan Renewable Energy (JRE) in a deal worth over JPY 200 billion, the Nikkei reports.

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-- RWE, PPC Renewables ink 2-GW solar JV deal in Greece

German energy major RWE AG (ETR:RWE) and PPC Renewables, the green energy arm of Greek utility PPC SA (ATH:PPC), have signed a deal to set up a joint venture (JV) to develop up to 2 GW of solar projects in Greece.

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-- Bridgelink Engineering takes over renewables construction group BCR

US Bridgelink Engineering LLC is strengthening its engineering, procurement and construction (EPC) portfolio through the acquisition of BCR Companies, a domestic civil and mechanical engineering services provider for solar and wind projects.

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-- Dhamma Energy closes sale of Spanish, French solar business to Eni

Madrid-based solar independent power producer (IPP) Dhamma Energy's co-founders have completed the transfer of its Spanish and French business to Italian oil-and-gas major Eni SpA (BIT:ENI).

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-- Brazil's Raizen to form JV for DG renewables

Brazilian sugar and ethanol producer Raizen SA (BVMF:RAIZ4) and its subsidiary Raizen Energia SA will establish a joint venture (JV) with local energy company Grupo Gera to develop and operate distributed generation (DG) power plants, including based on renewables.

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-- Fortescue Future Industries invests in Dutch thin-film solar and H2 firm HyET

Australia’s Fortescue Future Industries (FFI) has taken a 60% stake in Dutch company High yield Energy Technologies (HyET) Group to assist in its ambition to supply 15 million tonnes of green hydrogen globally by 2030.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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