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Weekly renewables M&A round-up (Sep 17-23)

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September 24 (Renewables Now) - Renewables Now covered M&A stories related to Ørsted, Total SA, Con Edison and Drax over the past seven days. Below is the full list of deals:

-- TerniEnergia inks prelim deal to sell solar EPC business

Italy’s TerniEnergia SpA (BIT:TER) said it has struck a preliminary deal "of binding nature" to offload its solar construction business unit to Britain’s GIL Capital Ltd.

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-- Grasshopper invests USD 10m in 4-MW Japanese solar portfolio

Canadian solar developer Grasshopper Solar said it will pour some USD 10 million into a 4-MW solar project portfolio of Univergy Solar in Japan.

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-- Ørsted sheds to GIP 50% of Hornsea 1 offshore wind project

Danish energy company Ørsted A/S (CPH:ORSTED) said it has agreed to offload a 50% stake in its under-construction 1,218-MW Hornsea 1 offshore wind farm in the North Sea to Global Infrastructure Partners (GIP).

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-- Ib vogt to take majority interest in Asian solar JV

German solar developer Ib vogt GmbH said it has agreed to purchase a majority shareholding in Asia-focused sector player Nv vogt Singapore Pte Ltd.

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-- Covanta assumes operations of two Florida energy-from-waste plants

Covanta Holding Corp (NYSE:CVA) announced that it has closed the acquisition of a subsidiary of Babcock & Wilcox Enterprises Inc (NYSE:BW) that provides operating and maintenance (O&M) services for two energy-from-waste (EfW) facilities in Florida.

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-- Qatar's Nebras to buy majority of Dutch solar developer ZEN

A Dutch affiliate of Qatar’s Nebras QSC has agreed to take control of solar plants developer and operator Zon Exploitatie Nederland Holding BV (ZEN), it was announced.

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-- Standard Solar buys 38-MW solar DG portfolio in New York

Standard Solar Inc said it has acquired a 38-MW distributed generation (DG) photovoltaic (PV) portfolio in New York from local community solar developer US Light Energy, previously known as Solitude Solar.

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-- TerniEnergia, REI III to split joint solar assets

Italy’s TerniEnergia SpA (BIT:TER) said it has agreed with Renewable European Investment Italy 3 (REI III Srl) to end their 50/50 partnership in four solar companies, owning 3.3 MW of assets.

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-- Total secures 95% stake in France's Direct Energie

French oil major Total SA (EPA:FP) has built a stake of over 95% in electricity and gas supplier Direct Energie SA (EPA:DIREN) and intends to request a squeeze-out for the remainder of the shares.

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-- Gore Street Energy buys 19 MW of UK energy storage projects

Gore Street Energy Storage Fund plc (LON:GSF) has expanded its UK portfolio with the acquisition of 19 MW of energy storage projects, it announced.

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-- K2 Management to buy marine energy-focused consultancy in Portugal

Danish energy consultancy K2 Management announced it has entered into an agreement to buy Cruz Atcheson, a Portuguese sector player that focuses on wave, tidal and floating wind projects.

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-- Total buys G2mobility to grow in EV charging sector

French oil and gas company Total SA (EPA:FP) has completed the acquisition of local electric vehicle (EV) charging solutions provider G2mobility, it was announced.

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-- Sungevity acquires 2 Hawaii firms

US residential solar company Sungevity announced it has agreed to acquire Hawaii firms EGear and Hawaii Energy Connection, becoming one of the largest providers of residential and commercial solar systems in Hawaii.

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-- Con Edison strikes USD-1.54bn deal to buy renewables from Sempra

Consolidated Edison Inc (NYSE:ED), or Con Edison, said it has entered into an agreement to acquire a unit of Sempra Energy (NYSE:SRE) that holds 981 MW of operating renewable power plants in the US.

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-- Atlantic to buy 40 MW of biomass plants from EDF

Atlantic Power Corp (NYSE:AT) said it has executed an agreement to acquire 40 MW of biomass plants from EDF Renewables Inc for USD 13 million.

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-- Greencoat Renewables acquires 9.2-MW wind farm in Ireland

Dublin-based Greencoat Renewables PLc (LON:GRP) has acquired the Knocknalour wind park in Ireland's County Wexford for the price of EUR 10.9 million from a group of local developers.

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-- Inercom Bulgaria divests PV assets to win approval for deal with CEZ

Inercom Bulgaria said it has sold its photovoltaic business in order to address the concerns of the competition authority, which has blocked the acquisition of the local assets of Czech energy group CEZ by the company.

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-- Arise sells 45-MW Swedish wind project to Re:cap

Swedish wind farm developer Arise AB (STO:ARISE) said it has agreed to sell the Brocklingeberget wind project of about 45 MW to a fund managed by Swiss-based asset manager Re:cap global investors.

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-- CADE okays Omega Geracao's investment in 321-MW solar complex

Brazil's Administrative Council for Economic Defense (CADE) approved without restrictions the acquisition of a 50% stake in the 321-MW Pirapora solar power complex by Omega Geracao SA.

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-- Shanghai Electric decides not to buy Eletrosul's transmission projects in Brazil

Shanghai Electric Group Co Ltd (SHA:601727) has decided not to pursue the acquisition of BRL 4 billion worth of transmission projects in Brazil from Eletrosul.

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-- Drax targets Iberdrola power assets in UK

UK power generator Drax Group Plc (LON:DRX) is holding talks to buy a local portfolio of pumped storage, renewable hydro and gas-fired generation assets from a subsidiary of Iberdrola SA (BME:IBE).

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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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