Weekly renewables M&A round-up (Aug 5-9)

Renewables Now covered M&A stories about Algonquin, FPEL, Obton, PPC, SunPower, and others this week. Below is the full list:

-- Accenture snaps up net zero infrastructure projects manager BOSLAN

Dublin-based professional services firm Accenture (NYSE:ACN) unveiled the acquisition of BOSLAN, a Spanish company that offers AI-powered management services for large-scale and energy transition-focused infrastructure projects, such as wind, solar and hydrogen, smart grids and electric vehicle (EV) charging infrastructure.

Read more: https://renewablesnow.com/news/accenture-snaps-up-net-zero-infrastructure-projects-manager-boslan-865410/

-- Nextracker acquires HK-based solar farm piling provider SPI

US solar tracker manufacturer Nextracker Inc (NASDAQ:NXT) has acquired Hong Kong-headquartered solar farm piling solutions provider Solar Pile International (SPI) for approximately USD 48 million (EUR 44.2m).

Read more: https://renewablesnow.com/news/nextracker-acquires-hk-based-solar-farm-piling-provider-spi-865352/

-- Spanish bank Sabadell to finance, invest in SEAT's solar project

Spanish bank Banco de Sabadell SA (BME:SAB) said that it will provide EUR 20 million (USD 21.7m) in project financing for the construction of solar self-consumption systems at SEAT’s car factories and facilities in Catalonia. In addition, Sabadell’s renewables-focused equity investment division, Sinia Renovables, has acquired a 49% stake in SEAT’s project.

Read more: https://renewablesnow.com/news/spanish-bank-sabadell-to-finance-invest-in-seats-solar-project-865349/

-- OX2 unloads 99-MW Romanian wind farm project to Nala

Swedish renewables developer OX2 AB (STO:OX2) has clinched a deal to sell a 99.2-MW wind project in Romania to Nala Renewables in a move enabling the British green energy developer to further expand its business in Central and Eastern Europe.

Read more: https://renewablesnow.com/news/ox2-unloads-99-mw-romanian-wind-farm-project-to-nala-865370/

-- Obton invests USD 290m in Japanese solar acquisition

Danish solar investment firm Obton A/S said it has expanded its footprint in Japan via the DKK-2-billion (USD 290m/EUR 268m) acquisition of Japanese renewables developer and operator BCPG.

Read more: https://renewablesnow.com/news/obton-invests-usd-290m-in-japanese-solar-acquisition-865413/

-- Toyota Tsusho buys into Scatec’s Tunisian renewables portfolio

Renewable power producer Scatec ASA (OSL:SCATC) has joined forces with a unit of Japan’s Toyota Tsusho Corp (TYO:8015) to develop and own renewable energy projects in Tunisia. Under the partnership, Toyota Tsusho’s Aeolus SAS has bought a 49% stake in a portfolio of projects that Scatec owns in the North African country.

Read more: https://renewablesnow.com/news/toyota-tsusho-buys-into-scatecs-tunisian-renewables-portfolio-865471/

-- Quantum Capital to buy IPP firm Cogentrix for USD 3bn

Investment firm Quantum Capital Group has agreed to acquire US independent power producer Cogentrix Energy with a commitment to expand its platform with a focus on gas-fired power generation, renewables and battery storage.

Read more: https://renewablesnow.com/news/quantum-capital-to-buy-ipp-firm-cogentrix-for-usd-3bn-865439/

-- SunPower makes Chapter 11 filing, agrees USD-45m asset sale

After struggling to cut costs for several months, US residential solar company SunPower (NASDAQ:SPWR) has filed for Chapter 11 bankruptcy protection and agreed to sell several of its businesses in a USD-45-million (EUR 41.1m) cash deal.

Read more: https://renewablesnow.com/news/sunpower-makes-chapter-11-filing-agrees-usd-45m-asset-sale-865457/

-- Aramco bets on graphene electrodes start-up GraphEnergyTech

GraphEnergyTech Ltd, a developer of graphene electrodes for the use in solar cells manufacturing, has raised GBP 1 million (USD 1.27m/EUR 1.16m) in its first external equity funding round led by the venture arm of Saudi Arabian Oil Company (TADAWUL:2222), better known as Aramco.

Read more: https://renewablesnow.com/news/aramco-bets-on-graphene-electrodes-start-up-graphenergytech-865501/

-- Tokyo Gas invests in 25-MW WindFloat Atlantic offshore Portugal

Tokyo Gas Co Ltd (TYO:9531) has invested in the 25.2-MW WindFloat Atlantic operational floating offshore wind farm off the coast of Portugal.

Read more: https://renewablesnow.com/news/tokyo-gas-invests-in-25-mw-windfloat-atlantic-offshore-portugal-865486/

-- Fourth Partner Energy attracts funds to advance 3.5-GW portfolio target

India-based renewable energy solutions platform Fourth Partner Energy (FPEL) has secured a USD-275-million (USD 301.5m) equity investment to support its goal of achieving a portfolio of 3.5 GW of renewable energy assets by 2026.

Read more: https://renewablesnow.com/news/fourth-partner-energy-attracts-funds-to-advance-35-gw-portfolio-target-865523/

-- Suzlon to buy 76% stake in Renom to expand wind turbine O&M footprint

Indian wind turbine maker Suzlon Energy Ltd (BOM:532667) said it has agreed to acquire a 76% stake in operations and maintenance (O&M) company Renom Energy Services Private Limited in a two-tranche deal that will allow it break into the growing non-Suzlon turbine services market in India.

Read more: https://renewablesnow.com/news/suzlon-to-buy-76-stake-in-renom-to-expand-wind-turbine-om-footprint-865634/

-- Greencoat closes buy of 80.5-MWp Irish solar park, seals PPA

Irish renewable infrastructure company Greencoat Renewables Plc (LON:GRP) said it has wrapped up the acquisition of a 80.5-MWp solar park in Ireland, along with partnership funds, and announced the signing of a power offtake deal.

Read more: https://renewablesnow.com/news/greencoat-closes-buy-of-805-mwp-irish-solar-park-seals-ppa-865591/

-- PPC agrees to buy 774-MW renewables portfolio in Romania

Greek power utility PPC SA (ATH:PPC) has agreed to acquire the renewables portfolio of Romanian power producer and distributor Evryo Group which comprises 629 MW of operational assets as well as a 145-MW project pipeline.

Read more: https://renewablesnow.com/news/ppc-agrees-to-buy-774-mw-renewables-portfolio-in-romania-865595/

-- SAE Renewables buys 120-MW BESS project in UK

Sustainable energy projects developer SIMEC Atlantis Energy Ltd (LON:SAE), or SAE Renewables, announced the acquisition of a 120-MW/240-MWh battery energy storage system (BESS) project in Newport, South Wales.

Read more: https://renewablesnow.com/news/sae-renewables-buys-120-mw-bess-project-in-uk-865657/

-- JERA Nex makes US debut with 395-MW solar portfolio acquisition

JERA Nex, a renewable energy business that Japanese utility Jera Co Inc established earlier this year, has acquired a 395-MWac US portfolio containing two solar farms, marking its first move in the United States.

Read more: https://renewablesnow.com/news/jera-nex-makes-us-debut-with-395-mw-solar-portfolio-acquisition-865653/

-- Radial Power snaps up 22.3-MW community solar bundle in New York

Distributed clean energy firm Radial Power has taken possession of a portfolio of community solar projects in New York set to add a combined power generation capacity of 22.3 MW.

Read more: https://renewablesnow.com/news/radial-power-snaps-up-223-mw-community-solar-bundle-in-new-york-865673/

-- KGAL fund, IMCS set up 1.1-GW Italian battery storage JV

Independent investment and asset manager KGAL GmbH & Co KG said that its KGAL ESPF 5 fund has teamed up with Italy’s IMCS to jointly develop battery energy storage systems (BESS) projects in Italy, targeting up to 1.1 GW of total capacity.

Read more: https://renewablesnow.com/news/kgal-fund-imcs-set-up-11-gw-italian-battery-storage-jv-865710/

-- Renewable power start-up Branch Energy raises funds for expansion

Branch Energy, a data and AI-driven retail renewable power provider, has raised USD 10.8 million (EUR 9.88m) in a Series A funding round that will help the start-up advance the development of its battery management platform and build out its field services infrastructure.

Read more: https://renewablesnow.com/news/renewable-power-start-up-branch-energy-raises-funds-for-expansion-865733/

-- Alternus, Hover Energy to set up microgrids JV for US, European market

US solar company Alternus Clean Energy Inc (NASDAQ:ALCE) and local microgrid solutions provider Hover Energy have agreed to set up a microgrid-focused joint venture for which the partners have already outlined a developed pipeline of 60 MW of capacity across the US and Europe.

Read more: https://renewablesnow.com/news/alternus-hover-energy-to-set-up-microgrids-jv-for-us-european-market-865816/

-- CleanCapital acquires 13 MW of operational solar capacity in US

US clean energy investment platform CleanCapital announced the acquisition of two solar farms in New York with a combined capacity of 13 MW which have been in operation since 2019.

Read more: https://renewablesnow.com/news/cleancapital-acquires-13-mw-of-operational-solar-capacity-in-us-865850/

-- Japan's JOGMEC invests USD-36m in e-fuels firm HIF Global

Japan Organization for Metals and Energy Security (JOGMEC), a Japanese government agency, has made a USD-36-million (EUR 33m) equity investment into global e-fuels project developer HIF Global, intending to secure shipments of the carbon-free fuels for Japan’s decarbonisation efforts.

Read more: https://renewablesnow.com/news/japans-jogmec-invests-usd-36m-in-e-fuels-firm-hif-global-865847/

-- Algonquin to sell non-hydro renewables to LS Power for USD 2.5bn

Canada’s Algonquin Power & Utilities Corp (TSX:AQN) is selling its non-hydro renewables business for up to USD 2.5 billion (EUR 2.29bn), excluding debt, it announced, almost a year to the day after it stated its real value lied in being a pure-play regulated utility.

Read more: https://renewablesnow.com/news/algonquin-to-sell-non-hydro-renewables-to-ls-power-for-usd-25bn-865853/

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