Weekly renewables M&A round-up (Apr 17-21)

Renewables Now covered M&A stories about Heliogen, Algonquin, AEP, TotalEnergies, Abengoa and others in the past week. Below is the full list:

-- Utility SP Group buying 150-MWp rooftop solar portfolio in China

Power utility SP Group has agreed to acquire up to 150 MWp of rooftop solar photovoltaic (PV) arrays in China from Shanghai Unisun New Energy Co Ltd.

Read more: https://renewablesnow.com/news/utility-sp-group-buying-150-mwp-rooftop-solar-portfolio-in-china-820327/

-- Tokyo Gas, Shikoku Electric acquire 120 MW of solar parks in Japan

Tokyo Gas Co Ltd, through its subsidiary Prominet Power Corporation, and local electricity provider Shikoku Electric Power Co Inc have jointly acquired 120 MW of solar parks in western Japan.

Read more: https://renewablesnow.com/news/tokyo-gas-shikoku-electric-acquire-120-mw-of-solar-parks-in-japan-820346/

-- Green Genius, Eiffel form JV to build 500 MW of solar in Italy

Lithuanian renewables developer Green Genius said it has set up a joint venture (JV) with Eiffel Investment Group’s new infrastructure fund to put up 500 MW of solar farms in Italy.

Read more: https://renewablesnow.com/news/green-genius-eiffel-form-jv-to-build-500-mw-of-solar-in-italy-820357/

-- Cepsa, Apical to build EUR-1bn SAF plant in Spain

Spanish oil refiner Cepsa has set up a EUR-1-billion joint venture with Bio-Oils, the local renewable energy unit of vegetable oil processor Apical, to build the largest plant for second-generation (2G) biofuels in southern Europe.

Read more: https://renewablesnow.com/news/cepsa-apical-to-build-eur-1bn-saf-plant-in-spain-820362/

-- Commerz Real buys 39.9-MW wind farm in Finland

German investment manager Commerz Real said it has acquired a 39.9-MW wind farm in Finland for its Klimavest impact fund from compatriot renewables developer Energiequelle.

Read more: https://renewablesnow.com/news/commerz-real-buys-399-mw-wind-farm-in-finland-820375/

-- Heliogen takes defensive stance against Continuum Renewables

The board of directors of Heliogen Inc announced its adoption of a limited duration stockholder rights plan, also known as a “poison pill”, in response to the unsolicited takeover proposal made by Continuum Renewables Inc (CRI).

Read more: https://renewablesnow.com/news/heliogen-takes-defensive-stance-against-continuum-renewables-820389/

-- RES-developed project to become Britain’s first shared solar park

Ripple Energy said that a solar project of up to 42 MW at Derril Water in Devon will become Britain’s first shared solar park.

Read more: https://renewablesnow.com/news/res-developed-project-to-become-britains-first-shared-solar-park-820390/

-- Algonquin drops plan to buy AEP's Kentucky ops

US energy and water utility group Algonquin Power & Utilities Corp announced it has decided to abandon its long-standing deal to acquire the Kentucky operations of American Electric Power.

Read more: https://renewablesnow.com/news/algonquin-drops-plan-to-buy-aeps-kentucky-ops-820404/

-- ArcelorMittal forms Brazilian JV to add 554 MW of wind

Steel and mining giant ArcelorMittal SA said it will set up a joint venture (JV) with Brazilian renewable energy developer Casa dos Ventos Energias, seeking to develop a 554-MW wind project in Brazil’s Bahia state.

Read more: https://renewablesnow.com/news/arcelormittal-forms-brazilian-jv-to-add-554-mw-of-wind-820419/

-- OX2 snatches up 475-MW solar project in Finland

Swedish renewables developer OX2 AB has bought the rights to a 475-MW solar power project in southwestern Finland from local solar developer SAJM Holding Oy.

Read more: https://renewablesnow.com/news/ox2-snatches-up-475-mw-solar-project-in-finland-820433/

-- Matrix Renewables, Rolwind form green H2 platform in Spain

Matrix Renewables said it has set up a green hydrogen partnership in Spain to expand into the sector with a goal of eventually reaching up to 4 GW of total generation capacity across the country.

Read more: https://renewablesnow.com/news/matrix-renewables-rolwind-form-green-h2-platform-in-spain-820459/

-- Poland's ZE PAK buys 88-MW wind project from Dutch investor

Poland's energy group ZE-PAK said its unit PAK-Polska Czysta Energia has bought the Eviva Drzezewo special purpose vehicle (SPV) developing an 88-MW onshore wind project in the northern Pomeranian province.

Read more: https://renewablesnow.com/news/polands-ze-pak-buys-88-mw-wind-project-from-dutch-investor-820489/

-- Ascent Solar acquires 15-MW thin-film manufacturing assets in Zurich

Ascent Solar Technologies Inc, a Thornton, Colorado-based firm focused on CIGS thin-film photovoltaics (PV), has completed a deal to acquire the 15-MW roll-to-roll thin-film manufacturing assets in Zurich of thin-film solar manufacturer Flisom AG.

Read more: https://renewablesnow.com/news/ascent-solar-acquires-15-mw-thin-film-manufacturing-assets-in-zurich-820498/

-- PASH Global forms JV to develop 30-MWp PV projects in Botswana

UK-based developer PASH Global has agreed to set up a joint venture with Tswana Renewables to work on a 30-MWp pipeline of solar photovoltaic (PV) projects for private customers in Botswana.

Read more: https://renewablesnow.com/news/pash-global-forms-jv-to-develop-30-mwp-pv-projects-in-botswana-820533/

-- Devon invests in US geothermal firm Fervo Energy

US geothermal projects developer Fervo Energy has attracted a strategic investment from Devon Energy Corp as part of a partnership agreement that allows Fervo to use the oil and gas exploration company’s technologies to advance its own geothermal capabilities.

Read more: https://renewablesnow.com/news/devon-invests-in-us-geothermal-firm-fervo-energy-820535/

-- Global corp funding for battery storage plunges 83% y/y in Q1

Corporate funding in the energy storage sector slumped by 83% year-on-year to USD 2.2 billion in the first quarter of 2023, shows a new report by Mercom Capital Group.

Read more: https://renewablesnow.com/news/global-corp-funding-for-battery-storage-plunges-83-yy-in-q1-820553/

-- Germany's Lichtblick acquires PV installation startup Installion

German renewable energy supplier Lichtblick SE said it has acquired local startup Installion GmbH to help it meet the increasing demand for solar systems, home storage systems and wall boxes.

Read more: https://renewablesnow.com/news/germanys-lichtblick-acquires-pv-installation-startup-installion-820575/

-- Insolvent Abengoa awarded in court to Spain's Cox Energy

Spanish renewables group Cox Energy said it had been awarded the acquisition of the financially distressed compatriot Abengoa in bankruptcy court in Seville, southern Spain, after placing a bid of EUR 564 million.

Read more: https://renewablesnow.com/news/insolvent-abengoa-awarded-in-court-to-spains-cox-energy-820579/

-- Ferrovial, Budimex eye 500 MW of joint renewables in Poland - report

Spanish builder Ferrovial SA and its Polish subsidiary Budimex SA have set up a Polish joint venture (JV) to develop wind and solar photovoltaic (PV) projects, targeting 500 MW in five years, local media reported.

Read more: https://renewablesnow.com/news/ferrovial-budimex-eye-500-mw-of-joint-renewables-in-poland-report-820580/

-- Statkraft buys 120-MW permitted wind project duo in Scotland

Norwegian state-owned utility Statkraft AS announced the acquisition of two consented wind farm projects in Scotland’s Shetland islands with a combined capacity of 120 MW.

Read more: https://renewablesnow.com/news/statkraft-buys-120-mw-permitted-wind-project-duo-in-scotland-820625/

-- Germany's Hep Global steps in Poland with 100-MW solar purchase

German solar developer Hep Global GmbH has acquired a 100-MW portfolio of Polish solar projects in a deal that marks its entry into the Central European country’s photovoltaic (PV) market.

Read more: https://renewablesnow.com/news/germanys-hep-global-steps-in-poland-with-100-mw-solar-purchase-820626/

-- EC okays TotalEnergies’ buyout of Total Eren

The European Commission (EC) has given the go-ahead to French oil and gas giant TotalEnergies SE’s plan to acquire the remaining 70% stake in domestic renewables-focused independent power producer (IPP) Total Eren.

Read more: https://renewablesnow.com/news/ec-okays-totalenergies-buyout-of-total-eren-820647/

-- Residential solar co Sunergy to list on Nasdaq via SPAC

US residential solar firm Sunergy Renewables LLC is set to go public on Nasdaq through a merger with a special purpose acquisition company (SPAC) formed by investment firm Energy Spectrum Capital, with the anticipated USD 65 million in transaction proceeds to be used to fund operations and growth.

Read more: https://renewablesnow.com/news/residential-solar-co-sunergy-to-list-on-nasdaq-via-spac-820659/

-- Transocean, Eneti plan offshore wind foundation installation JV

Offshore drilling contractor Transocean Ltd and offshore wind vessels-focused Eneti Inc have signed a memorandum of understanding (MoU) to form a joint venture company for the installation of offshore wind foundations, the two said.

Read more: https://renewablesnow.com/news/transocean-eneti-plan-offshore-wind-foundation-installation-jv-820700/

-- Helleniq Energy eyes acquisition of 20-MW solar park in Cyprus - report

Greek energy group Helleniq Energy, former Hellenic Petroleum, is close to buying a 20-MW solar park in Cyprus in a deal expected to be sealed within the next few weeks, Insider Greece reports.

Read more: https://renewablesnow.com/news/helleniq-energy-eyes-acquisition-of-20-mw-solar-park-in-cyprus-report-820738/

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