Weekly renewables M&A navigator (Dec 25-29)

Renewables Now covered M&A stories about Adani Green, KKR, Vestas, Macquarie, and others in the final week of 2023. Below is the full list:

-- Namibian fund signs deal for minority in USD-10bn Hyphen project

SDG Namibia One Fund, Namibia’s dedicated green hydrogen blended finance vehicle, has concluded a share subscription agreement that will give it a 24% stake in the USD-10-billion Hyphen green hydrogen project.

Read more: https://renewablesnow.com/news/namibian-fund-signs-deal-for-minority-in-usd-10bn-hyphen-project-844121/

-- AEP, PNM to exit New Mexico solar JV in USD-230m deal

American Electric Power Company Inc and PNM Resources announced an agreement to sell their 50% stakes in a New Mexico-based joint venture that holds solar assets with a total potential capacity of 625 MW.

Read more: https://renewablesnow.com/news/aep-pnm-to-exit-new-mexico-solar-jv-in-usd-230m-deal-844135/

-- Petroleum group Aconcagua buys Inkia's power biz in Argentina

Latin American power firm Inkia Energy has sold its generation business in Argentina to domestic petroleum and gas company Aconcagua Energia in an “as is where is” deal encompassing thermal assets, a concession over a hydropower plant and a 60-MW wind farm project.

Read more: https://renewablesnow.com/news/petroleum-group-aconcagua-buys-inkias-power-biz-in-argentina-844147/

-- Adani Green to raise USD 1.12bn more from promoters

The promoters of Adani Green Energy Ltd are preparing to invest some INR 93.5 billion in the Indian renewables developer through a preferential issuance of warrants.

Read more: https://renewablesnow.com/news/adani-green-to-raise-usd-112bn-more-from-promoters-844160/

-- MEC Group takes control of rooftop solar firm EnergieSun

Duesseldorf-based investment firm MEC Group has clinched a deal to take a 51% stake in German rooftop solar developer EnergieSun in a drive to expand its portfolio of investments in the renewable power sector.

Read more: https://renewablesnow.com/news/mec-group-takes-control-of-rooftop-solar-firm-energiesun-844166/

-- Gran Canaria Island govt to buy 25% stake in Naturgy's wind farm

Spanish utility Naturgy Energy Group SA has signed an agreement with the governing body of Spain’s island of Gran Canaria to manage its 10.75-MW Aguimes wind farm on the Canary Island through a public-private joint venture.

Read more: https://renewablesnow.com/news/gran-canaria-island-govt-to-buy-25-stake-in-naturgys-wind-farm-844179/

-- KKR fund seeks to take Greenvolt private

Gamma Lux Holdco Sarl, an affiliate of investment funds advised by KKR & Co Inc, is looking to take over and delist Portuguese renewable energy company Greenvolt - Energias Renovaveis SA.

Read more: https://renewablesnow.com/news/kkr-fund-seeks-to-take-greenvolt-private-844211/

-- European Energy sells over 100 MW of wind, solar in December

Danish renewables developer European Energy A/S said it has divested over 100 MW of wind and solar farms in Europe in December 2023.

Read more: https://renewablesnow.com/news/european-energy-sells-over-100-mw-of-wind-solar-in-december-844224/

-- Tion buys first BESS project in Germany, abandons UK deal

German renewables firm Tion Renewables AG is acquiring a 10-MW/13-MWh battery energy storage system (BESS) project in Germany, its first in the country, while withdrawing from a previously bought battery project in the UK.

Read more: https://renewablesnow.com/news/tion-buys-first-bess-project-in-germany-abandons-uk-deal-844353/

-- Edisun Power to buy 941-MWp solar portfolio in strategy realignment

Swiss solar power producer Edisun Power Europe AG plans to purchase three solar farm projects with a combined capacity of 941 MWp in Spain, while selling smaller projects in a push to optimise its portfolio and focus on large-scale plants.

Read more: https://renewablesnow.com/news/edisun-power-to-buy-941-mwp-solar-portfolio-in-strategy-realignment-844359/

-- Emeren adds 86 MWp to Spanish solar pipeline

US-based solar developer-operator Emeren Group Ltd announced it has acquired an 86-MWp portfolio of utility-scale solar projects in Spain from local industrial and service group Negratin Global Services.

Read more: https://renewablesnow.com/news/emeren-adds-86-mwp-to-spanish-solar-pipeline-844361/

-- Gentari takes stake in 1-GW Taiwanese offshore wind project

Northland Power Inc announced it has completed the sale of nearly half of its ownership interest in the 1,022-MW Hai Long offshore wind project in Taiwan to Gentari International Renewables Pte Ltd.

Read more: https://renewablesnow.com/news/gentari-takes-stake-in-1-gw-taiwanese-offshore-wind-project-844375/

-- Globeleq closes 75% stake purchase in 41-MW solar farm in Mozambique

Africa-focused independent power producer (IPP) Globeleq said it has finalised the acquisition of a majority stake in the 41-MW Mocuba solar farm located near the namesake city in Mozambique.

Read more: https://renewablesnow.com/news/globeleq-closes-75-stake-purchase-in-41-mw-solar-farm-in-mozambique-844424/

-- Spain's Dominion sells 38-MW solar park to Renewable Japan

Spanish engineering services company Global Dominion Access SA announced it has sold a 38-MWp solar park to Renewable Japan Co Ltd.

Read more: https://renewablesnow.com/news/spains-dominion-sells-38-mw-solar-park-to-renewable-japan-844477/

-- Vestas offloads 656-MW Italian wind portfolio to Plenitude company

Danish wind turbine maker Vestas Wind Systems A/S said it has sold a 656-MW wind project portfolio in Italy to PLT Energia in an example of leveraging its development portfolio to strengthen its partnership with customers.

Read more: https://renewablesnow.com/news/vestas-offloads-656-mw-italian-wind-portfolio-to-plenitude-company-844479/

-- Voltalia sells 33-MW wind park duo in France

French renewable power plants operator Voltalia SA announced it has sold two operational wind farms in eastern France with a combined capacity of 33 MW to an unnamed buyer.

Read more: https://renewablesnow.com/news/voltalia-sells-33-mw-wind-park-duo-in-france-844480/

-- Engie Brasil reduces stake in gas pipeline owner TAG

Brazilian renewables-dedicated power utility Engie Brasil Energia SA has agreed to sell a 15% stake in the owner of an important portion of Brazil's natural gas transportation assets as it concentrates investments on renewable power generation and transmission.

Read more: https://renewablesnow.com/news/engie-brasil-reduces-stake-in-gas-pipeline-owner-tag-844490/

-- ERG inks deal to buy 73.2-MW wind, solar portfolio in France

Italian independent power producer ERG SpA has secured a deal to fully acquire a company that owns a 73.2-MW wind and solar portfolio in France.

Read more: https://renewablesnow.com/news/erg-inks-deal-to-buy-732-mw-wind-solar-portfolio-in-france-844491/

-- Repsol buys Solarpack's 10-MWp solar farm, related DG biz in Spain

Spanish solar energy specialist Solarpack has sold a 10-MWp solar farm in western Spain and the distributed generation (DG) business that markets that plant’s electricity to customers under a remote self-consumption model.

Read more: https://renewablesnow.com/news/repsol-buys-solarpacks-10-mwp-solar-farm-related-dg-biz-in-spain-844512/

-- Macquarie takes 50% holding in Enel Green Power Hellas

Macquarie Asset Management has acquired 50% of Greek renewable energy developer and operator Enel Green Power Hellas from Italian utility group Enel SpA, the asset management arm of Australian financial services giant Macquarie Group Ltd said.

Read more: https://renewablesnow.com/news/macquarie-takes-50-holding-in-enel-green-power-hellas-844518/

-- Greek utility PPC acquires 216-MW pilot wind project off Greece

Greek power utility PPC SA said its renewables arm has agreed to acquire a 216-MW pilot offshore wind project off the coast of Alexandroupolis.

Read more: https://renewablesnow.com/news/greek-utility-ppc-acquires-216-mw-pilot-wind-project-off-greece-844527/

-- Enefit Green gets rid of Latvian cogeneration plant for EUR 32m

Estonian renewables developer Enefit Green AS has signed a deal to sell a biomass-fired cogeneration plant and a pellet factory in Latvia in order to focus more on its strategic business direction of increasing its wind and solar capacity.

Read more: https://renewablesnow.com/news/enefit-green-gets-rid-of-latvian-cogeneration-plant-for-eur-32m-844535/

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