Weekly renewables M&A round-up (Jan 22-26)

Renewables Now covered M&A stories about BlackRock, Ørsted, BP, Equinor, REC Solar Norway, and others this week. Below is the full list:

-- FP Lux snaps up 114-MWp Italian solar portfolio from PNE

FP Lux Group has taken possession of a 114-MWp portfolio of Italian development-phase solar park projects on behalf of its energy transition fund.

Read more: https://renewablesnow.com/news/fp-lux-snaps-up-114-mwp-italian-solar-portfolio-from-pne-846150/

-- Plenitude teams up with BlueFloat, Sener on floating wind in Spain

Plenitude, the renewables arm of Italian oil and gas major Eni SpA, is venturing into the development of floating offshore wind power projects in Spain, a statement said.

Read more: https://renewablesnow.com/news/plenitude-teams-up-with-bluefloat-sener-on-floating-wind-in-spain-846194/

-- TotalEnergies, European Energy set up Nordic offshore wind partnership

France’s TotalEnergies SE will take majority stakes in 405 MW of offshore wind projects in Denmark developed by European Energy A/S under a broader offshore development partnership with the Danish renewable energy company.

Read more: https://renewablesnow.com/news/totalenergies-european-energy-set-up-nordic-offshore-wind-partnership-846294/

-- Harmony Energy teams up with Clarus to deliver 150-MW NZ solar park

UK-based renewable energy infrastructure developer Harmony Energy Ltd has formed a joint venture with First Renewables Ltd, part of New Zealand energy company Clarus, previously Firstgas Group, to deliver a 150-MW solar farm in New Zealand.

Read more: https://renewablesnow.com/news/harmony-energy-teams-up-with-clarus-to-deliver-150-mw-nz-solar-park-846314/

-- TotalEnergies to buy German battery developer Kyon Energy

French energy group TotalEnergies SE has agreed to acquire German battery storage developer Kyon Energy for EUR 90 million upfront and potential earn-out payments based on development targets.

Read more: https://renewablesnow.com/news/totalenergies-to-buy-german-battery-developer-kyon-energy-846316/

-- Deriva Energy buys 140-MW solar project from Juwi in Colorado

Charlotte, North Carolina-based renewables developer-operator Deriva Energy has acquired the 140-MW Spanish Peaks solar project located in Las Animas County, Colorado.

Read more: https://renewablesnow.com/news/deriva-energy-buys-140-mw-solar-project-from-juwi-in-colorado-846325/

-- Octopus buys 2 solar farms in Germany

The generation arm of Britain’s Octopus Energy said it has acquired two German solar farms with a combined capacity of over 140 MW, expanding its footprint in Germany.

Read more: https://renewablesnow.com/news/octopus-buys-2-solar-farms-in-germany-846329/

-- RES sells 100 MW of battery projects in UK to Field

UK-based renewables developer RES has sold two Scottish battery energy storage systems (BESS) projects with a combined capacity of 100 MW/200 MWh to domestic grid-scale storage systems developer Field.

Read more: https://renewablesnow.com/news/res-sells-100-mw-of-battery-projects-in-uk-to-field-846342/

-- Elkem to take hold of polysilicon producer REC Solar Norway

Norwegian industrial silicone manufacturer Elkem ASA has struck a deal to acquire kerf-based polysilicon producer REC Solar Norway AS from a unit of Indian conglomerate Reliance Industries Ltd.

Read more: https://renewablesnow.com/news/elkem-to-take-hold-of-polysilicon-producer-rec-solar-norway-846373/

-- BlackRock makes USD-500m bet on Recurrent Energy

US investment giant BlackRock Inc has agreed to pour USD 500 million to take a 20% stake in utility-scale solar and energy storage firm Recurrent Energy LLC, a unit of Canadian Solar Inc.

Read more: https://renewablesnow.com/news/blackrock-makes-usd-500m-bet-on-recurrent-energy-846384/

-- New platform with 1.6-GW battery pipeline launched in Australia

Private equity firm Gaw Capital Partners and a unit of shipping and energy company BW Group said they have set up an Australian energy storage investment platform to jointly develop 1.6 GW of battery projects.

Read more: https://renewablesnow.com/news/new-platform-with-16-gw-battery-pipeline-launched-in-australia-846400/

-- 38 Degrees North gets equity investment, buys NY solar projects

38 Degrees North has attracted a growth equity investment from S2G Ventures and has agreed to purchase 10 community solar projects with a combined capacity of 62 MW in New York state.

Read more: https://renewablesnow.com/news/38-degrees-north-gets-equity-investment-buys-ny-solar-projects-846444/

-- Instagrid to enter North America after USD-95m fundraising round

Instagrid GmbH announced the closing of a USD-95-million fundraising round with the proceeds to allow the German off-grid energy storage specialist to continue its growth by setting foot in North America.

Read more: https://renewablesnow.com/news/instagrid-to-enter-north-america-after-usd-95m-fundraising-round-846448/

-- Alternus sheds 88.5-MW portfolio of Polish PV projects

An affiliate of Ireland’s Alternus Energy Group Plc has wrapped up the sale of 88.5 MW of solar park projects in Poland to a fund owned by private equity firm SINO-CEEF.

Read more: https://renewablesnow.com/news/alternus-sheds-885-mw-portfolio-of-polish-pv-projects-846533/

-- RedWind enters co-development deal with Greenvolt Power

US utility-scale renewables developer RedWind Renewables LLC has struck a deal to offload two of its projects to sector player Greenvolt Power for an undisclosed amount.

Read more: https://renewablesnow.com/news/redwind-enters-co-development-deal-with-greenvolt-power-846534/

-- ACEN JV buys 38-MW Pennsylvania wind farm from EDF

A joint venture of Philippine-based ACEN Corp has acquired a 38-MW wind farm in Pennsylvania from EDF Renewables North America, the listed energy platform of conglomerate Ayala Group said.

Read more: https://renewablesnow.com/news/acen-jv-buys-38-mw-pennsylvania-wind-farm-from-edf-846537/

-- Ørsted to acquire all of Sunrise Wind upon New York tender success

Danish clean energy company Ørsted A/S has agreed to acquire Eversource Energy’s 50% stake in the 924-MW Sunrise Wind offshore wind project if Sunrise Wind is successful in the ongoing New York solicitation for offshore wind capacity.

Read more: https://renewablesnow.com/news/rsted-to-acquire-all-of-sunrise-wind-upon-new-york-tender-success-846545/

-- Elecnor shareholders approve sale of renewables unit to Statkraft

The shareholders of Spanish infrastructure builder Elecnor SA overwhelmingly approved the sale of the company's wind and solar unit Enerfin to Norway’s Statkraft AS in a deal valued EUR 1.8 billion at the enterprise level.

Read more: https://renewablesnow.com/news/elecnor-shareholders-approve-sale-of-renewables-unit-to-statkraft-846585/

-- US smart home firm ADT to exit loss-making residential solar ops

US security and smart home solutions provider ADT Inc has decided to exit its residential solar business at a time when it was suffering from deteriorating conditions in the sector driven by macroeconomic headwinds.

Read more: https://renewablesnow.com/news/us-smart-home-firm-adt-to-exit-loss-making-residential-solar-ops-846589/

-- Photon sells 2.3-MW solar project in Poland as another deal looms

Amsterdam-based renewables developer Photon Energy NV said it has sold its rights to a 2.3-MWac solar photovoltaic project in central Poland to a subsidiary of Polish investment firm INWE Group.

Read more: https://renewablesnow.com/news/photon-sells-23-mw-solar-project-in-poland-as-another-deal-looms-846604/

-- Schroders Greencoat to buy Toucan Energy's 514-MWp solar portfolio

Schroders Greencoat, the specialist renewables manager of Schroders Capital, will acquire the solar portfolio of collapsed Toucan Energy, which comprises 53 operating solar farms in the UK with a combined capacity 513.5 MWp, it was announced.

Read more: https://renewablesnow.com/news/schroders-greencoat-to-buy-toucan-energys-514-mwp-solar-portfolio-846622/

-- Bluefield Solar, GLIL snap up 247-MW portfolio from Lightsource bp

London-listed Bluefield Solar Income Fund Ltd, in partnership with GLIL Infrastructure, has acquired a portfolio of operating solar assets with a combined capacity of 247 MW in the UK.

Read more: https://renewablesnow.com/news/bluefield-solar-glil-snap-up-247-mw-portfolio-from-lightsource-bp-846632/

-- BP, Equinor scrap US offshore wind JV to go solo in NY tenders

Norwegian oil major Equinor ASA and British peer BP Plc said they will terminate their 50/50 offshore wind joint venture and bid separately in offshore tenders with projects in the Empire Wind and Beacon Wind lease areas.

Read more: https://renewablesnow.com/news/bp-equinor-scrap-us-offshore-wind-jv-to-go-solo-in-ny-tenders-846664/

-- Motor Oil buys rest of Greek renewables JV from Ellaktor

Greek petroleum refiner Motor Oil (Hellas) Corinth Refineries has acquired the 25% stake it did not already own in renewable energy firm Anemos RES SA from domestic construction group Ellaktor SA.

Read more: https://renewablesnow.com/news/motor-oil-buys-rest-of-greek-renewables-jv-from-ellaktor-846736/

-- Glentra Capital invests in floating solar developer Third Pillar

Energy transition infrastructure investor Glentra Capital has taken a controlling stake in Third Pillar Solar Renewables LLC, a floating solar developer across the US with a pipeline of projects ranging from 3 MW to 200 MW.

Read more: https://renewablesnow.com/news/glentra-capital-invests-in-floating-solar-developer-third-pillar-846751/

-- Kitemill raises EUR 2m to advance kite-like wind power device

Norway-based airborne wind energy (AWE) specialist Kitemill AS, developer of a kite-like wind power generator, has raised over EUR 2 million of funding to advance work on its technology.

Read more: https://renewablesnow.com/news/kitemill-raises-eur-2m-to-advance-kite-like-wind-power-device-846760/

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