Weekly renewables M&A round-up (Aug 19-23)

Renewables Now covered M&A stories about Porsche, Continuum Green Energy, BP, and others this week. Below is the full list:

-- Archer to take control of geothermal drilling firm Iceland Drilling

Norwegian drilling and well services provider Archer Ltd announced that it has signed an agreement to raise to 60% its stake in high-temperature geothermal drilling company Iceland Drilling.

Read more: https://renewablesnow.com/news/archer-to-take-control-of-geothermal-drilling-firm-iceland-drilling-866537/

-- Sumitomo buys into offshore monopiles outfit of German EEW

Japanese trader Sumitomo Corp is acquiring an unspecified equity stake in newly-founded EEW Offshore Wind EU Holding, a German manufacturer of monopiles for the offshore wind industry.

Read more: https://renewablesnow.com/news/sumitomo-buys-into-offshore-monopiles-outfit-of-german-eew-866547/

-- New Zealand's Genesis to take over 127-MWp solar project at home

New Zealand power and gas utility Genesis Energy Ltd has agreed to acquire an advanced-stage 127-MWp solar project in the North Island from Auckland-based developer Helios Energy.

Read more: https://renewablesnow.com/news/new-zealands-genesis-to-take-over-127-mwp-solar-project-at-home-866554/

-- Drift Energy raises nearly GBP 5m to make green H2 production yacht

UK green energy yachts developer Drift Energy has secured GBP 4.65 million in a seed funding round to back its plans to begin the construction of its first vessel next year.

Read more: https://renewablesnow.com/news/drift-energy-raises-nearly-gbp-5m-to-make-green-h2-production-yacht-866584/

-- Harrison Street to invest USD 300m in CPV Group’s renewables unit

Harrison Street has agreed to invest USD 300 million to acquire one-third of Competitive Power Ventures Group’s (CPV Group) renewables affiliate which has a 700-MW portfolio of wind and solar assets in the US.

Read more: https://renewablesnow.com/news/harrison-street-to-invest-usd-300m-in-cpv-groups-renewables-unit-866678/

-- Solar developer UGE acquired by NOVA, stock to get delisted soon

New York-based investment firm NOVA Infrastructure has finalised its CAD-2.00 per-share acquisition of North American solar and storage developer UGE International Ltd, both parties have announced.

Read more: https://renewablesnow.com/news/solar-developer-uge-acquired-by-nova-stock-to-get-delisted-soon-866679/

-- Beef exporter Minerva buying 48-MW solar project in Brazil

Brazilian beef exporter Minerva SA said it will acquire the special purpose entity behind a 48-MW solar project in the state of Minas Gerais.

Read more: https://renewablesnow.com/news/beef-exporter-minerva-buying-48-mw-solar-project-in-brazil-866701/

-- Ramboll expands expertise in renewables with K2 Management buy

Danish engineering, architecture and consultancy company Ramboll unveiled a second investment within a week to bolster its capabilities in renewables, acquiring K2 Management, a local peer specialised in wind and solar energy.

Read more: https://renewablesnow.com/news/ramboll-expands-expertise-in-renewables-with-k2-management-buy-866715/

-- KGAL fund snaps up 50-MW solar project in the Czech Republic

Independent investment and asset manager KGAL GmbH & Co KG announced the acquisition of a 50-MW solar project in the Czech Republic through its KGAL ESPF 5 fund.

Read more: https://renewablesnow.com/news/kgal-fund-snaps-up-50-mw-solar-project-in-the-czech-republic-866729/

-- AEM electrolysers maker P2H2 raises USD 18m

US electrolysis technologies developer Power to Hydrogen Inc (P2H2) announced it has raised more than USD 18 million in a Series A financing round which will allow it to expand its business both locally and abroad and complete the fulfillment of its first order.

Read more: https://renewablesnow.com/news/aem-electrolysers-maker-p2h2-raises-usd-18m-866745/

-- Qair takes majority holding in 15-GW British renewables platform

French independent power producer (IPP) Qair said it has acquired a “significant majority share" in UK-based onshore wind, solar and energy storage developer Green Switch Capital (GSC), which has a 15-GW-plus project pipeline.

Read more: https://renewablesnow.com/news/qair-takes-majority-holding-in-15-gw-british-renewables-platform-866753/

-- Porsche to take control of Varta's large-format lithium-ion round cells unit

German sports car maker Porsche is set to purchase a majority shareholding in Varta AG’s large-format lithium-ion round cells business, while also supporting the financial reorganisation of the battery maker.

Read more: https://renewablesnow.com/news/porsche-to-take-control-of-vartas-large-format-lithium-ion-round-cells-unit-866756/

-- Al Gore-backed Just Climate invests USD 150m in India's Continuum

Continuum Green Energy has attracted an INR-12.56-billion equity investment from climate solutions investor Just Climate to help advance the India-based renewable energy firm’s pipeline of generation and storage projects across the country.

Read more: https://renewablesnow.com/news/al-gore-backed-just-climate-invests-usd-150m-in-indias-continuum-866760/

-- Lodestone snaps up 54-MWp solar project duo in New Zealand

New Zealand-based solar developer and power producer Lodestone Energy has taken possession of 54 MWp of photovoltaic (PV) projects in its home country from compatriot Kiwi Solar.

Read more: https://renewablesnow.com/news/lodestone-snaps-up-54-mwp-solar-project-duo-in-new-zealand-866805/

-- Vena Energy attracts partner for 550-MW DC Philippine solar project

Singapore’s Vena Energy has attracted the renewables arm of Meralco PowerGen Corporation (MGen) as a partner in a solar project in the Philippines with a direct current capacity of 550 MW.

Read more: https://renewablesnow.com/news/vena-energy-attracts-partner-for-550-mw-dc-philippine-solar-project-866811/

-- Ukraine's DTEK adds 60-MW solar project to Romania portfolio

Ukrainian private energy group DTEK has acquired a 60-MW solar photovoltaic project in Romania, beefing up the portfolio of its EU-focused renewables arm in the Balkan country.

Read more: https://renewablesnow.com/news/ukraines-dtek-adds-60-mw-solar-project-to-romania-portfolio-866870/

-- Actis’ Levanta adds to pipeline six solar projects in Southeast Asia

Levanta Renewables, a portfolio company of UK investment firm Actis, has signed an agreement to acquire six solar projects in three countries in Southeast Asia with a combined capacity of 9.5 MWp.

Read more: https://renewablesnow.com/news/actis-levanta-adds-to-pipeline-six-solar-projects-in-southeast-asia-866876/

-- BP to expand bioenergy ops with investment in Chinese SAF maker

Oil and gas major BP Plc is stepping up its push into the bioenergy market with a bet on a unit of China-based Zhejiang Jiaao Environmental Protection Technology that is building a sustainable aviation fuel (SAF) plant capable of producing 500,000 tonnes of biofuel annually.

Read more: https://renewablesnow.com/news/bp-to-expand-bioenergy-ops-with-investment-in-chinese-saf-maker-866899/

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