Weekly renewables M&A round-up (Sep 20-24)

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September 24 (Renewables Now) - Renewables Now covered M&A stories about SSE, Avangrid, CIP, Glennmont and others over the past week. Below is the full list:

-- Gore Street buys 57-MW storage project in England, to raise fresh funds

Gore Street Energy Storage Fund plc (LON:GSF) said it has acquired a 57-MW energy storage project in Leicester, England, which is ready to build and is expected to come online in 2023.

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-- DESRI acquires 300-MW solar project with 150 MW storage in New Mexico

US renewable energy asset owner D E Shaw Renewable Investments (DESRI) has completed the acquisition of the Arroyo project which combines 300 MW of solar with 150 MW/600 MWh of battery energy storage.

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-- Former Shell refinery to adopt biofuel, green hydrogen production

Crossbridge Energy Partners, an affiliate of Postlane Capital Partners, has acquired the former Shell refinery in Fredericia, Denmark, with plans to transform it into a carbon-neutral facility that produces biofuels and green hydrogen.

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-- Ecofin US Renewables buys 13.7-MW solar project in Minnesota

Ecofin US Renewables Infrastructure Trust PLC (LON:RNEW) said it had recently closed the acquisition of a 13.7-MW solar project located in the US state of Minnesota, the first in a portfolio of 12 solar PV projects that the UK-based investor is targeting to buy.

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-- SSE denies making group break-up decision

UK renewables and networks-focused energy company SSE Plc (LON:SSE) has not made a decision to break up the group, it announced in response to recent media speculation.

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-- Avangrid, CIP to split Vineyard Wind LLC's offshore wind rights in US

US sustainable energy company Avangrid Inc (NYSE:AGR) and Denmark’s Copenhagen Infrastructure Partners (CIP) have agreed to restructure the ownership of some of the projects and proposals that their 50/50 offshore wind joint venture (JV) Vineyard Wind LLC is developing in the Atlantic Ocean.

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-- Enpal secures EUR 345m financing for new solar PV systems

German solar leasing company Enpal GmbH has secured EUR 345 million in debt from a group of investors to refinance the installation of more than 15,000 solar PV systems.

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-- Glennmont buys 473-MW Spanish solar portfolio from Grupotec

London-based fund manager Glennmont Partners said it has acquired a 473-MW portfolio of solar projects in Spain from domestic engineering and consulting services firm Grupotec Servicios Avanzados SA.

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-- SunShare gets USD 30m investment from PE firm Ember

Denver-based solar developer SunShare LLC has received a USD-30-million equity commitment from private equity firm Ember Infrastructure to grow its community solar platform.

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-- Omnidian bags USD 33m in Series B round

US solar protection plans provider Omnidian Inc said it has raised USD 33 million in a Series B funding round.

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-- Catalyze buys solar developer Sol Alliance to expand in US Northeast

National independent power producer (IPP) Catalyze announced the acquisition of Northeast solar sales and development firm Sol Alliance for an undisclosed sum.

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-- Distributed energy co Zola Electric secures USD 90m in funds

Distributed renewable energy solutions provider Zola Electric has raised USD 90 million in capital that will allow the company to develop next-generation hardware and software and to enter new markets.

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-- State-backed funds in Greece may cut controlling stake in PPC

Greek sovereign wealth fund HCAP and one of its subsidiaries may lower their combined 51% shareholding in domestic power utility PPC SA (ATH:PPC).

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-- Neoen to dispose of 11-MWp solar-CSP bundle in France

France’s Neoen SA (EPA:NEOEN) has agreed to offload its entire interest in an 11-MWp solar-concentrating solar power (CSP) portfolio in its home market for roughly EUR 31 million.

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-- Mitsubishi HC Capital takes part in 25-MW solar park acquisition in California

Japan’s Mitsubishi HC Capital Inc (TYO:8593) announced that its infrastructure-related investment subsidiary has acquired a 35.7% stake in a 25-MW direct current (DC) solar photovoltaic (PV) plant in California, while partners have bought the rest of the asset.

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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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