Weekly renewables M&A round-up (April 1-5)

Renewables Now covered M&A stories about Southwest Airlines, EDF, a Goldman Sachs spin-off, and others this week. Below is the full list:

-- Spie takes control of German rooftop solar installer MBG energy

French energy and communications multi-technical services provider Spie SA has taken a majority stake of 75% in German solar installer MBG energy GmbH in a drive to enhance its foothold in the photovoltaic roll-out market.

Read more: https://renewablesnow.com/news/spie-takes-control-of-german-rooftop-solar-installer-mbg-energy-853395/

-- Panasonic, Indian Oil to form battery JV in India

Indian petroleum refiner and fuel retailer Indian Oil Corporation Ltd and Japan’s Panasonic Energy Co Ltd are looking to set up a joint venture (JV) to make lithium-ion batteries in India to serve the electric vehicle (EV) and energy storage markets.

Read more: https://renewablesnow.com/news/panasonic-indian-oil-to-form-battery-jv-in-india-853396/

-- Acteon to focus on offshore wind after takeover by PE firms

New York-based private equity firm One Equity Partners (OEP) unveiled the acquisition of British marine energy and infrastructure solutions company Acteon Group with plans to reposition the business to focus on renewables, with a strategic focus on the wind market segment.

Read more: https://renewablesnow.com/news/acteon-to-focus-on-offshore-wind-after-takeover-by-pe-firms-853399/

-- Southwest expands push into SAF with takeover of SAFFiRE

Southwest Airlines Co, an investor in SAFFiRE Renewables LLC, announced recently it has taken over the US corn stover to ethanol technology company to advance its strategy to replace a portion of its total jet fuel consumption with sustainable aviation fuel (SAF).

Read more: https://renewablesnow.com/news/southwest-expands-push-into-saf-with-takeover-of-saffire-853407/

-- Japan's Renova raises stake in 75-MW biomass-fired power plant

Japanese renewable power producer Renova Inc announced its share in the 74.95-MW Ishinomaki Hibarino Biomass Power Plant jumped to 51%.

Read more: https://renewablesnow.com/news/japans-renova-raises-stake-in-75-mw-biomass-fired-power-plant-853414/

-- Repsol to buy out partner in renewables JV in Chile - report

Spanish multi-energy group Repsol SA is finalising an agreement to take full control of its 50/50 renewable energy joint venture (JV) with compatriot Grupo Ibereolica Renovables in Chile, Spanish business daily newspaper Expansion reported.

Read more: https://renewablesnow.com/news/repsol-to-buy-out-partner-in-renewables-jv-in-chile-report-853430/

-- Goldman Sachs spin-off MN8 raises USD 325m to pursue growth

US independent solar power producer MN8 Energy LLC announced the closing of a USD-325-million private placement, the proceeds of which will allow the company to expand its operations.

Read more: https://renewablesnow.com/news/goldman-sachs-spin-off-mn8-raises-usd-325m-to-pursue-growth-853455/

-- Sterlite Power, GIC set up JV transmission platform in India

Indian private power transmission developer Sterlite Power and Singapore’s sovereign wealth fund GIC have teamed up in a joint venture to create a power transmission platform in India.

Read more: https://renewablesnow.com/news/sterlite-power-gic-set-up-jv-transmission-platform-in-india-853462/

-- EDF, Serena conclude stake swap in 765-MW Brazilian renewables JV

EDF Renewables Brasil and Brazilian sector player Serena Energia SA have completed a share swap that puts an end to a joint venture associated with 765 MW of wind and solar assets.

Read more: https://renewablesnow.com/news/edf-serena-conclude-stake-swap-in-765-mw-brazilian-renewables-jv-853478/

-- Aspen Power snaps up 41-MWp solar bundle in New York, Pennsylvania

US distributed generation platform Aspen Power Partners, which has US private equity firm Carlyle among its backers, said it has bought an over 41-MW DC portfolio of commercial solar projects in New York and Pennsylvania from Solar Site Developers.

Read more: https://renewablesnow.com/news/aspen-power-snaps-up-41-mwp-solar-bundle-in-new-york-pennsylvania-853467/

-- EDF mulling partial sale of Indian renewables platform - report

French utility Electricite de France SA (EDF) is considering divesting a portion of its renewable energy platform in India in a deal that could give the assets a valuation of up to INR 35 billion, the Economic Times reports.

Read more: https://renewablesnow.com/news/edf-mulling-partial-sale-of-indian-renewables-platform-report-853483/

-- Aussie energy retailer TPC agrees sale to Wollar Solar

Australian electricity and gas retailer TPC Consolidated Limited has agreed to be acquitted by clean energy projects developer Wollar Solar Holding Pty Ltd (WSH) in a deal giving the target business a total equity value of about AUD 100 million.

Read more: https://renewablesnow.com/news/aussie-energy-retailer-tpc-agrees-sale-to-wollar-solar-853504/

-- Eiffel, Landinfra to advance 1.8 GW of Swedish renewables together

Nordic renewables developer Landinfra Energy AB said it has attracted French asset manager Eiffel Investment Group as a partner for the joint development of a 1.8-GW pipeline of solar, wind and energy storage projects in Sweden.

Read more: https://renewablesnow.com/news/eiffel-landinfra-to-advance-18-gw-of-swedish-renewables-together-853527/

-- OX2 agrees sale of 42.5-MW Swedish BESS

Swedish renewables developer OX2 AB said it has reached an agreement to sell a 42.5-MW/42.5-MWh battery energy storage system (BESS) in Sweden, the first such project to be originated and developed by the company.

Read more: https://renewablesnow.com/news/ox2-agrees-sale-of-425-mw-swedish-bess-853624/

-- China's UEG buys rights to 250-MW Bulgarian solar project

A unit of Chinese oil and gas company United Energy Group, or UEG, has agreed to acquire Bulgaria’s Green Profit and thus take hold of the construction rights for a 250-MW solar project in the Balkan country.

Read more: https://renewablesnow.com/news/chinas-ueg-buys-rights-to-250-mw-bulgarian-solar-project-853629/

-- Solid oxide tech specialist Elcogen attracts Baker Hughes as backer

Elcogen, an Estonian developer of solid oxide electrolyser cell (SOEC) technology for green hydrogen production, announced it has attracted a strategic investment from US energy technology firm Baker Hughes that will help it scale up production.

Read more: https://renewablesnow.com/news/solid-oxide-tech-specialist-elcogen-attracts-baker-hughes-as-backer-853651/

-- Biofuels firm Raven SR raises funds to finalise California plant

US waste-to-hydrogen firm Raven SR Inc said it has raised USD 15 million in a financing round that will help it finalise the production setup of its ongoing project in Richmond, California.

Read more: https://renewablesnow.com/news/biofuels-firm-raven-sr-raises-funds-to-finalise-california-plant-853676/

-- CIP to take control of Elgin, invest GBP 250m alongside management

Copenhagen Infrastructure Partners (CIP) has signed a deal to acquire a majority stake in solar developer Elgin Energy, with plans to invest GBP 250 million in the company alongside its current management team, which will stay.

Read more: https://renewablesnow.com/news/cip-to-take-control-of-elgin-invest-gbp-250m-alongside-management-853747/

-- Actis invests in South Korean renewable platform Argo Energy

UK investment firm Actis recently announced the completion of an investment into South Korean renewable energy platform Argo Energy.

Read more: https://renewablesnow.com/news/actis-invests-in-south-korean-renewable-platform-argo-energy-853754/

-- Conquest acquires Finnish wind projects, pledges EUR 1bn investment

French asset manager Conquest Group announced the acquisition of two mature onshore wind projects with a combined capacity of 182 MW in Finland as its first step in the local renewables market, promising additional development and a sizable investment there.

Read more: https://renewablesnow.com/news/conquest-acquires-finnish-wind-projects-pledges-eur-1bn-investment-853817/

-- Energy storage firm Torus raises USD 67m to bolster offering

US energy storage and energy management devices maker Torus Inc said it has secured USD 67 million to advance its platform in a transaction led by venture capital investor Origin Ventures.

Read more: https://renewablesnow.com/news/energy-storage-firm-torus-raises-usd-67m-to-bolster-offering-853824/

-- Energy storage start-up Polar Night Energy raises funds for growth

Polar Night Energy, a Finnish thermal energy storage solutions start-up founded in 2018, announced that it has raised EUR 7.6 million in a seed round that will help it grow its business.

Read more: https://renewablesnow.com/news/energy-storage-start-up-polar-night-energy-raises-funds-for-growth-853845/

-- Alternus, Acadia set up JV for 200 MW of renewable microgrids in NY

US solar developer and installer Alternus Clean Energy has joined forces with compatriot Acadia Energy to co-develop and operate 200 MW of renewable energy microgrids in the state of New York.

Read more: https://renewablesnow.com/news/alternus-acadia-set-up-jv-for-200-mw-of-renewable-microgrids-in-ny-853878/

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