Weekly renewables M&A round-up (Sep 6-10)

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September 10 (Renewables Now) - September 10 (Renewables Now) - Renewables Now covered M&A stories about Naturgy, RWE, Macquarie’s GIG, Duke Energy and others over the past week. Below is the full list:

-- Only 1.8% of Good Energy shareholders accept Ecotricity’s offer

UK green energy supplier Ecotricity Group Ltd’s offer to buy all of rival Good Energy Group PLC (LON:GOOD), in which it already owns about 25.1%, has been accepted only by holders of 1.8% of the target’s share capital, it was announced.

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-- Greece's Mytilineos to sell two solar farms in Romania to Enel Green Power

Greek industrial conglomerate Mytilineos said that it has signed an agreement to sell a 90MW solar portfolio in Romania, consisting of two photovoltaic farms, to Enel Green Power Romania, part of Italy's Enel Group.

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-- TRIG buys 234-MW Spanish solar portfolio from Statkraft

The Renewables Infrastructure Group Ltd (LON:TRIG) said it has agreed to purchase a 234-MW portfolio of solar projects in Spain’s Cadiz province from Norwegian energy company Statkraft AS.

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-- CWP Global buys 73-MW wind project in Ukraine

International energy infrastructure developer CWP Global has acquired a 73-MW onshore wind project that is currently being developed in the Kherson region of southern Ukraine.

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-- Switch Power buys energy storage portfolio in Toronto

Alberta-based Switch Power Corporation will acquire a series of behind the meter (BTM) battery energy storage systems (BESS) in the greater Toronto area from local climate tech company Peak Power Inc.

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-- Recurrent Energy sells majority stake in 350-MW storage reliability project

US renewables developer Recurrent Energy LLC, owned by Canadian Solar Inc (NASDAQ:CSIQ), has completed the sale of an 80% stake in the 350-MW/1,400-MWh Crimson energy storage project in the California desert to Axium Infrastructure.

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-- Aussie fund IFM cleared to buy 22.7% stake in Naturgy

Spain’s market regulator CNMV granted its approval for Australia’s IFM Global Infrastructure Fund (IFM GIF) to take a stake in Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY) in a partial takeover deal that could fetch up to EUR 4.85 billion.

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-- EDPR sheds additional interest in 405-MW US wind portfolio

Renewable energy company EDP Renovaveis SA (ELI:EDPR) said it has finalised the sale of an additional 12% equity stake in a 405-MW operational wind portfolio in the US.

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-- Deutsche Windtechnik acquires Texas firm to boost US turbine O&M biz

German wind turbine technology specialist Deutsche Windtechnik AG has agreed to acquire the wind turbine maintenance and services business of Amarillo, Texas-based electrical services provider Cooke Power Services in a deal that has doubled the number of its travelling technicians in the US.

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-- Enkraft buys into RWE and pushes for lignite activities separation

Activist investor Enkraft Capital GmbH has built a notable ownership interest in RWE AG (ETR:RWE) and is now urging the German energy major to separate its lignite activities from the group and to focus on its renewable energy operations.

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-- Norway's Magnora hikes stake in Swedish solar farm developer Helios

Norwegian renewable energy investor Magnora ASA (OSE:MGN) said that it has boosted its ownership in Swedish large-scale solar farm developer Helios Nordic Energy AB to 40% from 25%, as the target company aims to double its capacity to 2 GW by the end of 2022.

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-- Macquarie’s GIG acquires 400-MW Irish offshore wind project

Green Investment Group Ltd (GIG), part of Australian investment bank Macquarie Group Ltd (ASX:MQG), has acquired the developer of the 400-MW Sceirde Rocks offshore wind project in Galway in the West of Ireland.

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-- iSun to buy solar installer SunCommon in USD-40m deal

US solar energy and clean mobility infrastructure firm iSun Inc (NASDAQ:ISUN) has agreed to acquire photovoltaic (PV) installer SolarCommunities Inc, also known as SunCommon, in a cash-and-stock deal worth USD 40 million.

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-- Q Cells unloads 50-MW project in Spain to NextEnergy's solar fund

Solar products maker Q Cells has developed and sold its 50-MW Agenor PV project in Spain to NextEnergy Capital’s third solar fund, the parties announced separately.

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-- Greenvolt, Neo Energy buy Polish energy storage co KSME

Portuguese renewables company Greenvolt - Energias Renovaveis SA (ELI:GVOLT), together with Polish peer Neo Energy Group, has acquired KSME, a Polish energy development and storage company.

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-- Infratil creates Asian renewables platform with USD-233m commitment

New Zealand-based infrastructure investor Infratil Ltd (NZE:IFT) announced today it is committing USD 233 million to create its fourth renewable energy development platform -- Gurin Energy.

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-- Nebras Power forms JV in Brazil to manage over 13 GW of solar, hydro

Qatar-based Nebras Power Investment Management BV (NPIM) has formed a joint venture (JV) with Brazilian power investment Companhia Energetica Integrada (CEI), to operate and manage over 13 GW of mainly solar projects in Brazil.

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-- Swiss-American Energy Vault on course to go public in US through SPAC deal

Swiss-American grid-scale energy storage technology developer Energy Vault Inc is heading to the US public markets through an agreed merger with special purpose acquisition company Novus Capital Corporation II (NYSE:NXU), which will give the combined company a pro-forma enterprise value of USD 1.1 billion.

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-- Duke Energy bags USD 1bn from minority stake sale in Indiana unit

Duke Energy Corp (NYSE:DUK) has finalised the sale of an 11.05% minority interest in its Indiana unit to Singapore's sovereign wealth fund GIC Pvt Ltd for cash proceeds of USD 1.025 billion.

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-- MPCES finds partner for up to 100-MW solar project in Dominican Republic

The Netherlands-based sustainable energy company MPC Energy Solutions NV (FRA:5IX) has secured a partner on the development and construction of a solar power project of some 50 MW to 100 MW in the Dominican Republic.

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-- Greenbacker buys 41-MW solar project in Michigan

Greenbacker Renewable Energy Company LLC has acquired, through a wholly-owned subsidiary, the 41-MW Heathlands utility-scale solar project in the US state of Michigan.

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-- SK E&S to take over US energy storage developer

US energy storage company Key Capture Energy LLC said Seoul-based energy company SK E&S Co Ltd, an affiliate of South Korean conglomerate SK Group, will become its majority owner.

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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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