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

Renewables Now covered M&A stories about Avangrid, EDPR, Cubico, Nextracker, Enel and others in the first week of 2024. Below is the full list:

-- Spain's Enerside agrees sale of 3.1-MWp DG solar farm in Brazil

Spanish integrated solar PV platform Enerside Energy SA said it has agreed to sell a distributed generation (DG) solar farm in Brazil to Suno Asset, an investment fund manager, for over EUR 3 million.

Read more: https://renewablesnow.com/news/spains-enerside-agrees-sale-of-31-mwp-dg-solar-farm-in-brazil-844555/

-- Emeren unloads 293-MW battery duo in Italy to Matrix

US-based solar developer-operator Emeren Group Ltd has offloaded 293 MW of battery energy storage system (BESS) projects in Italy to global renewables platform Matrix Renewables under an arrangement made last summer.

Read more: https://renewablesnow.com/news/emeren-unloads-293-mw-battery-duo-in-italy-to-matrix-844598/

-- GreenYellow buys 20 MW of rooftop solar in France

French renewables business GreenYellow has acquired three portfolios of operating assets, including 20 MW of solar photovoltaic (PV) parks at home, from venture capital investment firm Demeter Investment Managers.

Read more: https://renewablesnow.com/news/greenyellow-buys-20-mw-of-rooftop-solar-in-france-844602/

-- Avangrid axes USD-8.3bn deal for PNM as regulatory action drags on

A USD-4.3-billion merger between US sustainable energy company Avangrid Inc and New Mexico-based utilities holding PNM Resources Inc has collapsed after failing to secure final regulatory approval by the deadline of December 31, 2023.

Read more: https://renewablesnow.com/news/avangrid-axes-usd-83bn-deal-for-pnm-as-regulatory-action-drags-on-844628/

-- EDPR takes full control of 970-MW wind portfolio in Europe

Renewable energy company EDP Renovaveis SA has agreed to buy back a 49% stake in a 970-MW portfolio of wind farms in Portugal, Poland and Italy from China Three Gorges SA (CTG).

Read more: https://renewablesnow.com/news/edpr-takes-full-control-of-970-mw-wind-portfolio-in-europe-844629/

-- Stakraft closes acquisition of 260-MW wind duo in Brazil

Norwegian state-owned energy company Statkraft AS has concluded the acquisition of two wind farms with a combined capacity of 260 MW in Brazil from renewable energy company EDP Renovaveis SA.

Read more: https://renewablesnow.com/news/stakraft-closes-acquisition-of-260-mw-wind-duo-in-brazil-844647/

-- Biofuels maker XCF seeks to go public via SPAC

US sustainable fuels maker XCF Global Capital Inc is negotiating a merger with a local special purpose acquisition company that values it at USD 1.75 billion and will introduce it as a publicly traded entity at home.

Read more: https://renewablesnow.com/news/biofuels-maker-xcf-seeks-to-go-public-via-spac-844655/

-- Canadian pension funds tap banks to explore sale of Cubico - report

Canadian pension funds Ontario Teachers' Pension Plan (OTPP) and Public Sector Pension (PSP) have enlisted Bank of America and Canadian Imperial Bank of Commerce (CIBC) to help with the divestment of their London-based renewables outfit Cubico Sustainable Investments, Spanish business daily Expansion reported, citing several market sources.

Read more: https://renewablesnow.com/news/canadian-pension-funds-tap-banks-to-explore-sale-of-cubico-report-844658/

-- Ara Partners buys majority of US developer of clean fuels terminals

Private equity firm Ara Partners said it has acquired a majority stake in USD Clean Fuels LLC (USDCF), a Houston, Texas-based developer of terminal infrastructure for renewable fuel feedstocks and biofuels.

Read more: https://renewablesnow.com/news/ara-partners-buys-majority-of-us-developer-of-clean-fuels-terminals-844667/

-- Ardian, Solarpack dissolve JV, split 89 MW of solar assets in Peru, Chile

Paris-based private investment house Ardian and Spain’s Solarpack have dissolved their South American joint venture (JV), dividing around 89 MW of solar farms they once co-owned in Peru and Chile.

Read more: https://renewablesnow.com/news/ardian-solarpack-dissolve-jv-split-89-mw-of-solar-assets-in-peru-chile-844682/

-- OX2 transfers 23-MW Polish wind farm to DIF Capital

Swedish renewables developer OX2 AB said it has handed over the 23-MW Sulmierzyce wind farm in Poland to infrastructure fund manager DIF Capital Partners.

Read more: https://renewablesnow.com/news/ox2-transfers-23-mw-polish-wind-farm-to-dif-capital-844709/

-- Outokumpu raises stake in 45-MW Finnish wind farm

Finnish steel maker Outokumpu said it has decided to increase its stake in an operational 45-MW onshore wind farm of power company Rajakiiri Oy, located near its steel plant in Tornio.

Read more: https://renewablesnow.com/news/outokumpu-raises-stake-in-45-mw-finnish-wind-farm-844718/

-- Soltec sells 850 MW of early-stage solar projects in Denmark to CIP

Spanish vertically integrated solar energy specialist Soltec Power Holdings SA (BME:SOL) has sold a portfolio with around 850 MW (direct current) of early-stage solar projects in Denmark to Danish investment firm Copenhagen Infrastructure Partners P/S (CIP).

Read more: https://renewablesnow.com/news/soltec-sells-850-mw-of-early-stage-solar-projects-in-denmark-to-cip-844733/

-- OMV Petrom buys stake in 1-GW renewables portfolio, EV charging biz

Romanian oil company OMV Petrom said it has agreed to become a 50%-owner of a domestic company holding roughly 1 GW of renewable energy projects, mostly onshore wind, and to buy an e-car charging business as part of its push into renewables.

Read more: https://renewablesnow.com/news/omv-petrom-buys-stake-in-1-gw-renewables-portfolio-ev-charging-biz-844734/

-- SJVN gets nod to lead 8.8 GW of projects in India, Nepal

Indian power producer SJVN Ltd has been given the go-ahead to form four joint ventures for the deployment of 6,000 MW of non-hydro renewables and 2,778 MW of hydroelectric power projects in India and Nepal.

Read more: https://renewablesnow.com/news/sjvn-gets-nod-to-lead-88-gw-of-projects-in-india-nepal-844739/

-- Spain's Enerside to sell 400-MW solar, BESS project in Italy

Spanish integrated solar player Enerside Energy SA (BME:ENRS) has reached an agreement to sell a 400-MW project combining photovoltaic and battery energy storage systems (BESS) in Italy, the firm said in bourse filing at the end of 2023.

Read more: https://renewablesnow.com/news/spains-enerside-to-sell-400-mw-solar-bess-project-in-italy-844759/

-- Flex completes Nextracker spin-off

US solar tracker maker Nextracker Inc has completed its separation from electronics manufacturer Flex Ltd, the companies said.

Read more: https://renewablesnow.com/news/flex-completes-nextracker-spin-off-844780/

-- Ellomay Capital agrees USD 13m sale of Israeli solar farm

Israeli renewables developer and power producer Ellomay Capital Ltd said it has reached an agreement to sell a 9-MW operational solar facility at home in a deal valued at up to NIS 48.75 million.

Read more: https://renewablesnow.com/news/ellomay-capital-agrees-usd-13m-sale-of-israeli-solar-farm-844847/

-- FARIA adds 19.8 MW to Greek solar pipeline

Thessaloniki-based renewable energy company FARIA Renewables SA has acquired two ready-to-build solar farms in Greece with a combined capacity of 19.8 MW.

Read more: https://renewablesnow.com/news/faria-adds-198-mw-to-greek-solar-pipeline-844850/

-- Enel finalises USD-271m portfolio sale in US to Ormat

The North American unit of Italian energy major Enel SpA said it has closed its USD-271-million sale of its entire geothermal portfolio in the US along with a few small solar parks to Ormat Technologies Inc.

Read more: https://renewablesnow.com/news/enel-finalises-usd-271m-portfolio-sale-in-us-to-ormat-844861/

-- HASI invests in 605-MW AES renewables portfolio

Climate positive investment firm HASI said it will make a structured equity investment in a roughly 605-MW portfolio of US solar and solar-plus-storage assets developed, owned and operated by The AES Corporation.

Read more: https://renewablesnow.com/news/hasi-invests-in-605-mw-aes-renewables-portfolio-844869/

-- EDPR sells majority stake in 340-MW US solar portfolio

EDP Renovaveis SA, or EDP Renewables, has signed a deal to sell an 80% stake in a 340-MW solar portfolio in the US to an unnamed buyer.

Read more: https://renewablesnow.com/news/edpr-sells-majority-stake-in-340-mw-us-solar-portfolio-844914/

Choose your newsletter by Renewables Now. Join for free!