Weekly renewables M&A round-up (Feb 21-25)

Renewables Now covered M&A stories about Elecnor, Enagas, Boralex, Wpd and others in the past week. Below is the full list:

-- Spain's Elecnor looking to sell minority stake in wind energy unit

Spanish infrastructure builder Elecnor SA (BME:ENO) is looking for a financial partner to sell it a stake in its wind energy subsidiary Enerfin Sociedad de Energia SLU, the company announced in a bourse filing.

Read more: https://renewablesnow.com/news/spains-elecnor-looking-to-sell-minority-stake-in-wind-energy-unit-774005/

-- France's HDF sells stake in solar-hydrogen-battery project in Barbados

French fuels distributor Rubis SCA (EPA:RUI) is acquiring a 51% stake in a solar-plus-green hydrogen and battery project developed by hydrogen energy specialist Hydrogene de France SA (EPA:HDF) in Barbados.

Read more: https://renewablesnow.com/news/frances-hdf-sells-stake-in-solar-hydrogen-battery-project-in-barbados-774126/

-- Ignitis scraps deal to buy 170-MW solar portfolio in Poland

The renewables arm of Lithuanian energy company Ignitis Grupe AB (VSE:IGN1L) has cancelled an agreement for the acquisition of up to 170 MW of under-development solar projects in Poland.

Read more: https://renewablesnow.com/news/ignitis-scraps-deal-to-buy-170-mw-solar-portfolio-in-poland-774164/

-- Hy24 to acquire minority stake in Enagas' renewables unit

Hy24, the clean hydrogen investment platform jointly owned by Ardian and FiveT Hydrogen, has agreed to acquire a 30% stake in the renewables arm of Spanish gas grid operator Enagas SA (BME:ENG).

Read more: https://renewablesnow.com/news/hy24-to-acquire-minority-stake-in-enagas-renewables-unit-774218/

-- BluEarth snaps up 247-MW advanced development wind project in Missouri

Canadian independent power producer (IPP) BluEarth Renewables Inc has acquired an up to 247-MW wind project in advanced development in Missouri from developer NorthRenew Energy LLC.

Read more: https://renewablesnow.com/news/bluearth-snaps-up-247-mw-advanced-development-wind-project-in-missouri-774340/

-- Innergex bags USD 165m to fund Chilean wind purchase

Innergex Renewable Energy Inc (TSE:INE) has raised CAD 209.8 million in gross proceeds from a bought deal equity offering and a private placement aimed at financing a wind acquisition in Chile.

Read more: https://renewablesnow.com/news/innergex-bags-usd-165m-to-fund-chilean-wind-purchase-774342/

-- Virescent to acquire India's Godawari Green Energy

Virescent Renewable Energy Trust (VRET), an Indian renewable energy platform backed by global investment firm KKR & Co Inc (NYSE:KKR), has agreed to acquire a green energy subsidiary of compatriot Godawari Power and Ispat Ltd (BOM:532734).

Read more: https://renewablesnow.com/news/virescent-to-acquire-indias-godawari-green-energy-774390/

-- US Renewable Energy Group explores options - report

US biodiesel firm Renewable Energy Group Inc (NASDAQ:REGI), or REG, is considering strategic alternatives, including a sale, after attracting takeover interest, Bloomberg reported, citing a knowledgeable source.

Read more: https://renewablesnow.com/news/us-renewable-energy-group-explores-options-report-774417/

-- Renewable Power Capital buys 146-MW Swedish wind project from OX2

Renewable Power Capital (RPC) has agreed to acquire a 146-MW onshore wind project in Sweden from Swedish renewables developer OX2, the companies said.

Read more: https://renewablesnow.com/news/renewable-power-capital-buys-146-mw-swedish-wind-project-from-ox2-774439/

-- SolarizEgypt, Amarenco seal USD 255m solar partnership

Photovoltaic energy producer Amarenco Group has agreed to buy a 74% stake in the portfolio of Cairo-based solar company SolarizEgypt and jointly develop 300 MW of assets in the next four years.

Read more: https://renewablesnow.com/news/solarizegypt-amarenco-seal-usd-255m-solar-partnership-774542/

-- EDPR closes Sunseap buy, to invest up to USD 7.4bn across APAC

EDP Renewables (ELI:EDPR) said it has finalised the acquisition of a 91% stake in Singapore-based solar developer and operator Sunseap Group Pte Ltd in a previously announced deal worth SGD 1.1 billion.

Read more: https://renewablesnow.com/news/edpr-closes-sunseap-buy-to-invest-up-to-usd-74bn-across-apac-774555/

-- EnBW weighs partial sale of grids business

EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) is considering selling a stake of up to 49.9% in transmission system operator TransnetBW as the German electric utility needs a partner to finance the expansion of power grids in the energy and mobility transition.

Read more: https://renewablesnow.com/news/enbw-weighs-partial-sale-of-grids-business-774559/

-- EIP to buy into Boralex's 1 GW renewables platform in France

Switzerland-based Energy Infrastructure Partners (EIP) has agreed to take a 30% stake in the French renewables operations of Canadian power company Boralex Inc (TSE:BLX) for EUR 532 million as part of a long-term partnership.

Read more: https://renewablesnow.com/news/eip-to-buy-into-boralexs-1-gw-renewables-platform-in-france-774704/

-- JP Morgan-advised entity closes Falck Renewables majority stake buy

The Infrastructure Investments Fund (IIF), the JP Morgan-advised vehicle that agreed to buy a 60% stake in Italian renewable energy company Falck Renewables SpA (BIT:FKR) in October, has formally closed the transaction.

Read more: https://renewablesnow.com/news/jp-morgan-advised-entity-closes-falck-renewables-majority-stake-buy-774754/

-- Germany's Wpd denies sale rumours

Wpd AG is not working with an investment bank on the potential sale of the company, the German renewables developer said, refuting a media report.

Read more: https://renewablesnow.com/news/germanys-wpd-denies-sale-rumours-774785/

-- Clean energy marketplace Palmetto raises USD 375m

Clean energy marketplace and technology services platform Palmetto has raised some USD 375 million to speed up the adoption of residential solar across the US, it announced.

Read more: https://renewablesnow.com/news/clean-energy-marketplace-palmetto-raises-usd-375m-774795/

-- Cindrigo does not plan to leave Ukrainian energy ops

Cindrigo Holdings Ltd (LON:CINH), a renewables developer planning incineration projects in Ukraine, does not intend to abandon its business in the country and expects to complete an acquisition in the near future.

Read more: https://renewablesnow.com/news/cindrigo-does-not-plan-to-leave-ukrainian-energy-ops-774818/

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