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Aug 10, 2022 18:04 CESTWeekly 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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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