Weekly renewables M&A round-up (Jul 24-28)

Renewables Now covered M&A stories about TotalEnergies, EDP, Enel and others in the past week. Below is the full list:

-- Greencoat to buy Ørsted's stake in London Array offshore wind park

Greencoat UK Wind Plc and funds of its investment manager Schroders Greencoat LLP will acquire a 25% stake in the 630-MW London Array Offshore Wind Farm in British waters in a deal estimated at GBP 717 million.

Read more: https://renewablesnow.com/news/greencoat-to-buy-rsteds-stake-in-london-array-offshore-wind-park-829074/

-- Altus Power adds 4.4 MW of solar to California portfolio

US commercial-scale solar developer Altus Power Inc has bought about 4.4 MW of operating solar assets in Southern California from investment firm Apollo Global Management.

Read more: https://renewablesnow.com/news/altus-power-adds-44-mw-of-solar-to-california-portfolio-829091/

-- Greece's PPC to buy 84-MW Romanian wind farm from Lukoil

The renewables arm of Greek power utility PPC SA has signed a deal to acquire the vehicle behind an 84-MW wind farm in Romania from European subsidiaries of Russian petroleum giant Lukoil.

Read more: https://renewablesnow.com/news/greeces-ppc-to-buy-84-mw-romanian-wind-farm-from-lukoil-829152/

-- TotalEnergies to buy 50% of Turkish co targeting 2 GW of renewables

TotalEnergies SE has tied up with Turkish project development and construction group Ronesans Holding to co-develop renewable energy projects in Turkey through a joint venture targeting a 2-GW renewables fleet by 2028.

Read more: https://renewablesnow.com/news/totalenergies-to-buy-50-of-turkish-co-targeting-2-gw-of-renewables-829160/

-- Corre Energy targets 280-MW CAES purchase in Texas

Long-duration energy storage developer Corre Energy BV said it has signed an exclusivity deal to buy a 280-MW compressed air energy storage (CAES) project in the US state of Texas from Contour Energy LLC.

Read more: https://renewablesnow.com/news/corre-energy-targets-280-mw-caes-purchase-in-texas-829166/

-- TotalEnergies to buy out Total Eren for EUR 1.5bn

French energy major TotalEnergies SE has agreed to take full control of Total Eren at an enterprise value of about EUR 3.8 billion and integrate it into its own Renewables business unit.

Read more: https://renewablesnow.com/news/totalenergies-to-buy-out-total-eren-for-eur-15bn-829187/

-- Greenvolt to sell Polish renewables bundle for EUR 107m

Portuguese renewables company Greenvolt - Energias Renovaveis SA has inked an agreement for the sale of a 58.6-MW solar and wind portfolio in Poland to Energa Wytwarzanie SA, part of the Orlen Group.

Read more: https://renewablesnow.com/news/greenvolt-to-sell-polish-renewables-bundle-for-eur-107m-829188/

-- Actis-backed Rezolv buys rights to 229-MW solar project in Bulgaria

Rezolv Energy, the clean power platform that was launched by investment firm Actis in 2022, announced it has bought the rights to build and operate a 229-MW solar plant on the site of a decommissioned airfield in Silistra Municipality, northeastern Bulgaria.

Read more: https://renewablesnow.com/news/actis-backed-rezolv-buys-rights-to-229-mw-solar-project-in-bulgaria-829214/

-- Eiffel fund, R.Power to jointly develop 1 GWp of solar in Romania

A fund managed by Eiffel Investment Group has set up a joint venture with Polish solar power producer R.Power SA to co-develop over 1 GWp of solar photovoltaic (PV) projects in Romania.

Read more: https://renewablesnow.com/news/eiffel-fund-rpower-to-jointly-develop-1-gwp-of-solar-in-romania-829248/

-- Goldwind comes to Spain to shop for renewables - report

Chinese wind turbine manufacturer Xinjiang Goldwind Science & Technology has arrived in Spain in search of investment opportunities in the domestic renewables market, Spanish business news outlet El Espanol-Invertia reported.

Read more: https://renewablesnow.com/news/goldwind-comes-to-spain-to-shop-for-renewables-report-829258/

-- Ardian agrees to buy waste-to-energy firm Attero

French private equity firm Ardian unveiled a deal to acquire Attero, a Dutch company active in waste-to-energy and biomethane production, from UK investment company 3i Infrastructure Plc and a unit of Deutsche Bank AG, with a plan to expand the business into new fields, such as solar power.

Read more: https://renewablesnow.com/news/ardian-agrees-to-buy-waste-to-energy-firm-attero-829305/

-- Global corp funding for battery storage drops 55% y/y in H1

Corporate funding in the energy storage segment totalled USD 7.1 billion in the first half of the year, marking a 55% decline from the same period of 2022, according to new data by Mercom Capital Group.

Read more: https://renewablesnow.com/news/global-corp-funding-for-battery-storage-drops-55-yy-in-h1-829323/

-- Masdar to buy 49% in Iberdrola's Baltic Eagle wind farm off Germany

Abu Dhabi Future Energy Company PJSC, better known as Masdar, will acquire a 49% stake in the 476-MW Baltic Eagle offshore wind project that Spanish utility Iberdrola SA is building in the German Baltic Sea.

Read more: https://renewablesnow.com/news/masdar-to-buy-49-in-iberdrolas-baltic-eagle-wind-farm-off-germany-829328/

-- EDPR wraps up 257-MW wind portfolio sale to Verbund in Spain

Renewable energy giant EDP Renovaveis SA has wrapped up the sale of a 257-MW operating wind portfolio in Spain to Austrian utility Verbund AG.

Read more: https://renewablesnow.com/news/edpr-wraps-up-257-mw-wind-portfolio-sale-to-verbund-in-spain-829329/

-- Japan’s Hokkaido Electric, ARRK to build 16 MW of solar for off-site PPAs

Japanese utility Hokkaido Electric Power Company and local firm ARRK Corp have launched a joint company focused on the development of 16 MW of solar power plants under the off-site power purchase agreement (PPA) model.

Read more: https://renewablesnow.com/news/japans-hokkaido-electric-arrk-to-build-16-mw-of-solar-for-off-site-ppas-829336/

-- Cero Generation takes full control of solar JV with Univergy

Cero Generation has acquired the half it did not already own in Madrid-based solar developer Nara Solar from joint venture partner Univergy Solar, it was announced.

Read more: https://renewablesnow.com/news/cero-generation-takes-full-control-of-solar-jv-with-univergy-829345/

-- RockCreek invests in clean fuels firm Raven SR

US energy transition-focused investor RockCreek has made an investment in Pinedale, Wyoming-based renewable transportation fuel producer Raven SR Inc, the parties announced jointly.

Read more: https://renewablesnow.com/news/rockcreek-invests-in-clean-fuels-firm-raven-sr-829347/

-- Energy storage firm Field attracts GBP-200m investment

UK grid-scale battery energy storage systems developer Field has secured GBP 200 million from Dutch fund manager DIF Capital Partners to support the development of grid-scale battery energy storage projects across the UK and Western Europe.

Read more: https://renewablesnow.com/news/energy-storage-firm-field-attracts-gbp-200m-investment-829348/

-- EDP nears compulsory acquisition of remaining EDP Brasil shares

Portuguese utility Energias de Portugal SA announced it now holds 92.62% of the total common shares issued by EDP - Energias do Brasil SA, allowing for the compulsory acquisition of the remaining shares.

Read more: https://renewablesnow.com/news/edp-nears-compulsory-acquisition-of-remaining-edp-brasil-shares-829370/

-- Enel agrees to sell half of Greek renewables unit to Macquarie

Italian utility Enel SpA has agreed to co-manage its Greek renewable energy subsidiary as a joint venture with Macquarie Asset Management by selling a 50% equity interest in the unit for about EUR 345 million.

Read more: https://renewablesnow.com/news/enel-agrees-to-sell-half-of-greek-renewables-unit-to-macquarie-829428/

-- Meridiam buys renewables platform Rift Valley Energy Tanzania

Paris-based investor and asset manager Meridiam said it has finalised the acquisition of Rift Valley Energy Tanzania (RVE), an infrastructure platform with a 30-MW renewables portfolio and rural distribution grids in Tanzania.

Read more: https://renewablesnow.com/news/meridiam-buys-renewables-platform-rift-valley-energy-tanzania-829434/

-- EDP Renewables buys 50-MW battery project in England

Madrid-based EDP Renewables has acquired a 50-MW battery storage project in England from UK-based developer Tupa Energy.

Read more: https://renewablesnow.com/news/edp-renewables-buys-50-mw-battery-project-in-england-829444/

-- ReNew, Gentari form JV to develop 5 GW of renewables in India

ReNew Power Pvt Ltd, a unit of ReNew Energy Global Plc, has agreed to establish a 50/50 joint venture with a subsidiary of clean energy solutions provider Gentari Sdn Bhd to co-invest in renewables in India.

Read more: https://renewablesnow.com/news/renew-gentari-form-jv-to-develop-5-gw-of-renewables-in-india-829455/

-- Eolus looking for strategic partner to advance offshore wind business

Sweden’s Eolus Vind AB has decided to carry out a strategic review of its offshore wind business and possibly find a strategic partner to boost development speed, the company announced.

Read more: https://renewablesnow.com/news/eolus-looking-for-strategic-partner-to-advance-offshore-wind-business-829463/

-- APEX Group buys land for 600-MW green hydrogen plant in Germany

Hydrogen plants developer APEX Group said it has agreed to acquire three plots of land in Lubmin, northern Germany, in order to build up to 600 MW of electrolyser capacity for the production of green hydrogen.

Read more: https://renewablesnow.com/news/apex-group-buys-land-for-600-mw-green-hydrogen-plant-in-germany-829522/

-- EU okays Cinven's investment in Amara NZero

The European Commission (EC) approved without conditions UK buyout firm Cinven’s agreement to buy a majority stake in Madrid-based energy transition products and services provider Amara NZero from private equity firm ProA Capital.

Read more: https://renewablesnow.com/news/eu-okays-cinvens-investment-in-amara-nzero-829535/

-- Modus gets EUR 58m in debt for Polish solar purchase

A fund managed by renewables investor Modus Asset Management has obtained EUR 58 million in debt financing for the acquisition of a 93-MW portfolio of operational solar power plants in Poland.

Read more: https://renewablesnow.com/news/modus-gets-eur-58m-in-debt-for-polish-solar-purchase-829541/

-- EDPR to sell Polish wind, solar assets to Orlen in EUR-500m deal

EDP Renovaveis SA, or EDP Renewables, has signed a deal to sell a 301-MW wind and solar portfolio in Poland to Orlen Wind 3, a subsidiary of local oil refiner Orlen SA.

Read more: https://renewablesnow.com/news/edpr-to-sell-polish-wind-solar-assets-to-orlen-in-eur-500m-deal-829571/

-- Leo DiCaprio-backed DG solar financier raises USD 31.5m

Bright, the Mexican distributed generation solar financier backed by actor Leonardo DiCaprio, announced it closed a USD-31.5-million Series C financing round led by the Danish Development Finance Institution -- SDG Investment Fund (IFU).

Read more: https://renewablesnow.com/news/leo-dicaprio-backed-dg-solar-financier-raises-usd-315m-829576/

-- Encavis, Badenova join hands to invest EUR 200m in renewables

German wind and solar park operator Encavis AG, energy company Badenova and other partners will found a company in Hamburg to build up a 500-MW portfolio of wind and photovoltaic systems.

Read more: https://renewablesnow.com/news/encavis-badenova-join-hands-to-invest-eur-200m-in-renewables-829635/

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