Weekly renewables M&A round-up (Jul 18-22)

Renewables Now covered M&A stories about Lekela Power, Octopus Investments, Pattern Energy, and others in the past week. Below is the full list:

-- Orix, KEPCO team up for 48-MW battery storage project in Japan

Japanese financial services group Orix Corp (TYO:8591) and local utility Kansai Electric Power Company Inc (TYO:9503), or KEPCO, will form a 50/50 joint venture (JV) to develop a 48-MW/113-MWh energy storage plant.

Read more: https://renewablesnow.com/news/orix-kepco-team-up-for-48-mw-battery-storage-project-in-japan-791808/

-- Aventron raises CHF 60m to add more green generation capacity

Swiss green power producer Aventron AG has completed a capital increase, raising CHF 60 million (USD 61.66m/EUR 60.46m) in cash proceeds to back the expansion of its power generation capacity.

Read more: https://renewablesnow.com/news/aventron-raises-chf-60m-to-add-more-green-generation-capacity-791875/

-- Actis, Mainstream to sell 1-GW-plus African wind platform Lekela Power

Renewables developer Mainstream Renewable Power and private equity firm Actis have agreed to sell their African renewables platform Lekela Power to Infinity Group and Africa Finance Corporation (AFC) in a deal with an enterprise value of about USD 1.5 billion (EUR 1.47bn).

Read more: https://renewablesnow.com/news/actis-mainstream-to-sell-1-gw-plus-african-wind-platform-lekela-power-791837/

-- Atrato Onsite buys 20-MWp Nissan-contracted solar project in UK

Renewable investment trust Atrato Onsite Energy plc (LSE:ROOF) has acquired the developer of a 20-MWp solar project for a unit of Japanese carmaker Nissan Motor Co (TYO:720) in the UK.

Read more: https://renewablesnow.com/news/atrato-onsite-buys-20-mwp-nissan-contracted-solar-project-in-uk-791814/

-- Arise sells SGRE-powered Swedish wind project of 277 MW to Foresight

Swedish onshore wind farms developer Arise AB (STO:ARISE) is selling a 277-MW project at home to the flagship energy transition fund of Foresight Group LLP for about EUR 100 million.

Read more: https://renewablesnow.com/news/arise-sells-sgre-powered-swedish-wind-project-of-277-mw-to-foresight-791908/

-- Pattern Energy acquires 3-GW New Mexico-Arizona wind power link

US renewables developer Pattern Energy LP has acquired the SunZia Transmission project, a proposed 550-mile (885.1 km) bi-directional high-voltage direct current (HVDC) line that will transport some 3 GW of wind power from New Mexico to Arizona.

Read more: https://renewablesnow.com/news/pattern-energy-acquires-3-gw-new-mexico-arizona-wind-power-link-791963/

-- America's largest HCPV solar generating plant has new owners

Whetstone Power LLC and the sustainable infrastructure arm of investment firm Rosemawr Management LLC have recently acquired a 30-MW high-concentration photovoltaic (HCPV) solar power station in Colorado with plans for a future modification.

Read more: https://renewablesnow.com/news/americas-largest-hcpv-solar-generating-plant-has-new-owners-791972/

-- Greencoat Renewables to buy 80.5-MWp Irish solar farm from Statkraft

Greencoat Renewables PLC (LON:GRP) has agreed to acquire an 80.5-MWp solar farm under construction in Ireland from Norwegian power utility and developer Statkraft A/S.

Read more: https://renewablesnow.com/news/greencoat-renewables-to-buy-805-mwp-irish-solar-farm-from-statkraft-791967/

-- Macquarie's GIG invests in US renewable platform with 6-GW pipeline

Macquarie Asset Management’s Green Investment Group (GIG) has invested in US greenfield renewable energy platform Galehead Development, thus gaining access to a 6-GW project pipeline.

Read more: https://renewablesnow.com/news/macquaries-gig-invests-in-us-renewable-platform-with-6-gw-pipeline-792006/

-- FGE sells 531-MW Texas wind project duo to Brazil's Omega Energia

US renewable project developer FGE Power LLC on Monday said it has offloaded the first two phases of the Goodnight wind project in Texas, totalling 531 MW in capacity, to Brazilian energy firm Omega Energia SA (BVMF:MEGA3).

Read more: https://renewablesnow.com/news/fge-sells-531-mw-texas-wind-project-duo-to-brazils-omega-energia-792014/

-- Polar Racking acquires single-axis tracker maker Axsus Solar

Canadian photovoltaic (PV) mounting specialist Polar Racking has taken over single-axis tracker maker Axsus Solar, which up until now operated as the solar division of Magna Closures Inc.

Read more: https://renewablesnow.com/news/polar-racking-acquires-single-axis-tracker-maker-axsus-solar-792113/

-- Octopus Investments sets up USD-6.9bn Aussie renewables platform

Octopus Investments Australia, a unit of the UK’s Octopus Group, has launched an AUD-10-billion (USD 6.8bn/EUR 6.7bn) renewable energy platform and added the 333-MW Darlington Point solar farm in New South Wales to its portfolio.

Read more: https://renewablesnow.com/news/octopus-investments-sets-up-usd-69bn-aussie-renewables-platform-792143/

-- Vitol anchors USD-100m investment in FlexGen

FlexGen Power Systems Inc, a provider of integration services and software technology for energy storage, has raised USD 100 million in a Series C Investment round, anchored by Dutch energy trader Vitol, in partnership with existing investors.

Read more: https://renewablesnow.com/news/vitol-anchors-usd-100m-investment-in-flexgen-792161/

-- Phillips 66, H2 Energy close on JV for hydrogen refueling network in Europe

US energy company Phillips 66 (NYSE:PSX) and Switzerland-based hydrogen specialist H2 Energy on Tuesday said they have closed on a joint venture to create a network of hydrogen refueling retail stations in Germany, Austria and Denmark.

Read more: https://renewablesnow.com/news/phillips-66-h2-energy-close-on-jv-for-hydrogen-refueling-network-in-europe-792224/

-- TRIG buying more shares in 1.2-GW Hornsea One wind farm

The Renewables Infrastructure Group (LON:TRIG), an investment firm managed by InfraRed Capital Partners, has agreed to lift its shareholding in the 1.2-GW Hornsea One wind farm in UK waters to 10.2%.

Read more: https://renewablesnow.com/news/trig-buying-more-shares-in-12-gw-hornsea-one-wind-farm-792144/

-- Hitachi Energy to invest in Sweden's H2 Green Steel, help it with projects

Swiss-based Hitachi Energy will make an equity investment of an undisclosed size in Swedish start-up H2 Green Steel (H2GS) and provide it with technology to be used in its green steel production and green hydrogen projects.

Read more: https://renewablesnow.com/news/hitachi-energy-to-invest-in-swedens-h2-green-steel-help-it-with-projects-792163/

-- Enagas closes sale of 30% in renewable gases unit to Hy24

Spanish gas grid operator Enagas SA (BME:ENG) has closed the sale of a 30% stake in its renewable gases subsidiary Enagas Renovable to the Hy24 joint venture (JV).

Read more: https://renewablesnow.com/news/enagas-closes-sale-of-30-in-renewable-gases-unit-to-hy24-792247/

-- BlackRock fund acquires RNG producer Vanguard Renewables

A fund managed by BlackRock Real Assets has taken over Vanguard Renewables, a US company that produces renewable natural gas (RNG) from agriculture and organic food waste.

Read more: https://renewablesnow.com/news/blackrock-fund-acquires-rng-producer-vanguard-renewables-792261/

-- Encavis fund buys 22-MW onshore wind park in Germany

The asset management subsidiary of German solar and wind farm operator Encavis AG (ETR:ECV) has acquired a 21.8-MW wind farm in Brandenburg.

Read more: https://renewablesnow.com/news/encavis-fund-buys-22-mw-onshore-wind-park-in-germany-792339/

-- Qcells to take control of Lyngtech to digitise energy trading business

Solar cells and modules maker Hanwha Q Cells GmbH, or Qcells, has agreed to buy a 66% stake in German digital cloud platform company Lyngtech GmbH from municipal energy service provider Enercity AG to beef up its competencies in software and IT-based energy solutions.

Read more: https://renewablesnow.com/news/qcells-to-take-control-of-lyngtech-to-digitise-energy-trading-business-792307/

-- Cubico buys 100 MW of wind farms in Uruguay

Global renewables investor Cubico Sustainable Investments has acquired two wind farms with a combined capacity of 102 MW in Uruguay, it said on Tuesday.

Read more: https://renewablesnow.com/news/cubico-buys-100-mw-of-wind-farms-in-uruguay-792302/

-- Enel hunts for buyers of 3.6-GW wind, solar pipeline in Australia - report

The green energy arm of Italian utility Enel SpA (BIT:ENEL) is seeking to sell down between 50% and 80% of its Australian renewable energy platform that is said to have 3.6 GW of projects in the development pipeline, the Australian Financial Review (AFR) reports.

Read more: https://renewablesnow.com/news/enel-hunts-for-buyers-of-36-gw-wind-solar-pipeline-in-australia-report-792409/

-- Airbus joins investor club of EUR-1.5bn Hy24-managed clean hydrogen fund

Aircraft maker Airbus Group (EPA:AIR) said on Thursday it has invested in a clean hydrogen infrastructure fund managed by Hy24, the joint venture platform of Paris-based investment house Ardian and FiveT Hydrogen.

Read more: https://renewablesnow.com/news/airbus-joins-investor-club-of-eur-15bn-hy24-managed-clean-hydrogen-fund-792414/

-- Galp takes control over Spanish solar JV for EUR 140m

Portuguese energy company Galp Energia SGPS SA (ELI:GALP) has gained full ownership over Titan 2020 SA, its solar-focused joint venture (JV) with Spanish construction group ACS (BME:ACS), after acquiring the 24.99% stake it did not already own.

Read more: https://renewablesnow.com/news/galp-takes-control-over-spanish-solar-jv-for-eur-140m-792479/

(CHF 1 = USD 1.028/EUR 1.008)

(USD 1 = EUR 0.980)

(AUD 1 = USD 0.687/EUR 0.673)

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