Weekly renewables M&A round-up (July 29-Aug 2)

Renewables Now covered M&A stories about Scatec, Avantus, TRIG, BrightNight, Iberdrola, and others this week. Below is the full list:

-- Green Genius to sell up to 79 MWp of Lithuania solar to Nala Renewables

Lithuanian renewables developer Green Genius has agreed to sell 34 MWp of solar farms its developed and built in Lithuania to Nala Renewables in a deal that will enable Nala to expand into the Central and Eastern European market.

Read more: https://renewablesnow.com/news/green-genius-to-sell-up-to-79-mwp-of-lithuania-solar-to-nala-renewables-864675/

-- Spain's EiDF to sell solar self-consumption assets to Brookfield entity

Spanish solar energy installer EiDF (BME:EIDF) has entered into an agreement with Finlight Corporate SLU to sell up to 89.8 MW of solar self-consumption systems in a two-phase deal, continuing its relationship with the Brookfield Asset Management company.

Read more: https://renewablesnow.com/news/spains-eidf-to-sell-solar-self-consumption-assets-to-brookfield-entity-864686/

-- TotalEnergies to buy Scatec’s stake in 822-MW African hydropower JV

Renewable power producer Scatec ASA (OSL:SCATC) announced an agreement to sell its majority stake in an African hydropower joint venture with 255 MW of operational capacity and a 567 MW development pipeline to French energy major TotalEnergies SE (EPA:TTE).

Read more: https://renewablesnow.com/news/totalenergies-to-buy-scatecs-stake-in-822-mw-african-hydropower-jv-864801/

-- NextEnergy fund buys 50-MW solar portfolio in Poland

London-based renewables manager NextEnergy Capital announced that one of its funds has purchased a portfolio of solar projects in Poland with a combined capacity of about 50 MW from local green investment company Grenevia SA (WSE:GEA).

Read more: https://renewablesnow.com/news/nextenergy-fund-buys-50-mw-solar-portfolio-in-poland-864821/

-- US start-up Star Catcher raises USD 12.2m to develop space energy grid

Star Catcher Industries Inc, a start-up dedicated to the creation of an energy grid for space, has announced its official public launch with a USD-12.25-million (EUR 11.32m) seed round ahead of product demonstration initiatives planned for next year.

Read more: https://renewablesnow.com/news/us-start-up-star-catcher-raises-usd-122m-to-develop-space-energy-grid-864805/

-- Acciona Energia to offload 175 MW of Spanish hydro assets to Elawan

Spanish renewables company Acciona Energia (BME:ANE) announced that it has agreed to sell its hydro-focused vehicle, Acciona Saltos de Agua (ASA), to Elawan Energy for EUR 287 million (USD 310.9m).

Read more: https://renewablesnow.com/news/acciona-energia-to-offload-175-mw-of-spanish-hydro-assets-to-elawan-864799/

-- DTEK closes buy of 133-MW battery project in Poland

DRI, the EU renewables arm of Ukrainian private energy group DTEK, has completed the acquisition of a 133-MW/532-MWh battery energy storage system (BESS) project in Poland from local developed Columbus Energy.

Read more: https://renewablesnow.com/news/dtek-closes-buy-of-133-mw-battery-project-in-poland-864929/

-- KKR closes majority stake acquisition in Avantus

Investment funds and accounts managed by US private equity firm KKR & Co Inc (NYSE:KKR) have completed the acquisition of a majority stake in US solar and solar-plus-storage developer Avantus.

Read more: https://renewablesnow.com/news/kkr-closes-majority-stake-acquisition-in-avantus-864946/

-- BP buys 49% of gigawatt-scale green hydrogen project in Oman

BP Plc (LON:BP) is acquiring a 49% interest in the gigawatt-scale Hyport green hydrogen project in Oman from Muscat-based state-owned energy group OQ and Belgium's Dredging, Environmental and Marine Engineering NV (DEME).

Read more: https://renewablesnow.com/news/bp-buys-49-of-gigawatt-scale-green-hydrogen-project-in-oman-864941/

-- Verbund snaps up 110 MWp solar portfolio in Italy

Austrian utility Verbund AG (VIE:VER) said that it has agreed to acquire a 110 MWp portfolio of photovoltaic (PV) projects in central Italy from Ke-reninvestment, the Spanish holding company of Turkish energy investment firm Kinesis Enerji.

Read more: https://renewablesnow.com/news/verbund-snaps-up-110-mwp-solar-portfolio-in-italy-864999/

-- OCI offloads 260-MW Texas solar project to Hyundai Engineering

Solar and energy storage developer OCI Energy, a unit of South Korean energy and chemicals company OCI Co Ltd (KRX:010060) formerly known as OCI Solar Power, announced the divestment of a 260-MWp photovoltaic (PV) project in Texas to South Korea’s Hyundai Engineering Co Ltd.

Read more: https://renewablesnow.com/news/oci-offloads-260-mw-texas-solar-project-to-hyundai-engineering-865079/

-- Enstall snaps up German solar systems supplier Schletter

Dutch rooftop solar mounting solutions provider Enstall has agreed to acquire German rival Schletter Group to enhance its presence in Germany and central Europe and complement its product portfolio with ground-mounted installations.

Read more: https://renewablesnow.com/news/enstall-snaps-up-german-solar-systems-supplier-schletter-865128/

-- OX2 sells 50-MW Finnish BESS project to L&G NTR Clean Power Fund

Swedish renewables developer OX2 AB (STO:OX2) has sold a 50-MW shovel-ready battery energy storage system (BESS) project, called Uusnivala, in Finland to the L&G NTR Clean Power (Europe) Fund.

Read more: https://renewablesnow.com/news/ox2-sells-50-mw-finnish-bess-project-to-lg-ntr-clean-power-fund-865092/

-- TRIG sells stake in 330-MW German offshore wind farm to Equitix

The Renewables Infrastructure Group Ltd (LON:TRIG) has agreed to sell a 15.2% equity interest in the 330-MW operational Gode Wind 1 offshore wind farm in Germany to infrastructure investor Equitix for EUR 100 million (USD 108.2m).

Read more: https://renewablesnow.com/news/trig-sells-stake-in-330-mw-german-offshore-wind-farm-to-equitix-865149/

-- BrightNight secures USD-440m investment from Goldman Sachs

Florida-based renewables company BrightNight has secured a USD-440-million (EUR 406m) strategic investment from US investment bank Goldman Sachs (NYSE:GS).

Read more: https://renewablesnow.com/news/brightnight-secures-usd-440m-investment-from-goldman-sachs-865156/

-- Scatec divests Rwandan 8.5-MW solar farm in market exit

Norwegian renewable power producer Scatec ASA (OSL:SCATC) announced that it has wrapped up the sale of its 54% stake in an 8.5-MW solar farm in Rwanda and ceased all operations in the Central African country.

Read more: https://renewablesnow.com/news/scatec-divests-rwandan-85-mw-solar-farm-in-market-exit-865170/

-- Kajima JV sells 37.3-MW shovel-ready PV project to Infinis

Taiyo Power and Storage, a joint venture between Kajima and Low Carbon Alliance, has unloaded a 37.3-MW greenfield solar project in England to British power generator Infinis Solar Developments Ltd.

Read more: https://renewablesnow.com/news/kajima-jv-sells-373-mw-shovel-ready-pv-project-to-infinis-865183/

-- Scatec to trim stakes in 190-MW South African solar trio

Renewable power producer Scatec ASA (OSL:SCATC) unveiled an agreement to sell a portion of its shareholdings in a 190-MW solar portfolio in South Africa for ZAR 921 million (USD 50.6m/EUR 46.9m).

Read more: https://renewablesnow.com/news/scatec-to-trim-stakes-in-190-mw-south-african-solar-trio-865220/

-- Orlen to grow renewables fleet with 300-MWp acquisition from EDPR

Polish oil refiner Orlen Group has signed a preliminary deal with the Polish arm of EDP Renewables to acquire a portfolio of wind and solar parks at home with a combined capacity of over 300 MWp.

Read more: https://renewablesnow.com/news/orlen-to-grow-renewables-fleet-with-300-mwp-acquisition-from-edpr-865211/

-- OX2 sheds 25-MW Spanish PV project bundle to Greening Group

Swedish renewables developer OX2 AB (STO:OX2) has sold the rights to a 25-MW solar project portfolio in the Spanish region of Extremadura region to Spanish clean energy solutions provider Grupo Greening 2022 SA (BME:GGR).

Read more: https://renewablesnow.com/news/ox2-sheds-25-mw-spanish-pv-project-bundle-to-greening-group-865190/

-- SAF start-up Sora Fuel raises funds to advance business, tech

Sora Fuel, a company that produces sustainable aviation fuel (SAF) using only water, air and renewable energy, said that it has secured USD 6 million (EUR 5.56m) in seed funding to hire staff, establish commercial partnerships and further develop its technology.

Read more: https://renewablesnow.com/news/saf-start-up-sora-fuel-raises-funds-to-advance-business-tech-865278/

-- Iberdrola to buy 88% of UK's Electricity North West for EUR 2.5bn

Spanish utility Iberdrola SA (BME:IBE) has signed a deal to acquire 88% of UK power network operator Electricity North West (ENW) for an equity value of GBP 2.1 billion (USD 2.7bn/EUR 2.5bn) in line with its strategy to invest in electricity networks and countries with strong credit ratings.

Read more: https://renewablesnow.com/news/iberdrola-to-buy-88-of-uks-electricity-north-west-for-eur-25bn-865291/

-- J-Power wraps up deal for Aussie renewables firm Genex

Japanese utility Electric Power Development Co Ltd (TYO:9513), or J-Power, has wrapped up the deal to take Genex Power Ltd private at a valuation for the Australian renewables and energy storage firm of about AUD 1.04 billion (USD 680m/EUR 630m), including debt.

Read more: https://renewablesnow.com/news/j-power-wraps-up-deal-for-aussie-renewables-firm-genex-865293/

-- EnviaM invests in 700-MW solar portfolio in Germany

German regional energy company envia Mitteldeutsche Energie AG (enviaM) said on Thursday that it has agreed to invest in a portfolio of solar projects under development in central Germany with a combined capacity of more than 700 MW.

Read more: https://renewablesnow.com/news/enviam-invests-in-700-mw-solar-portfolio-in-germany-865297/

-- Solar firm Enerside revamps debt, welcomes investor in multi-deal spree

Spanish integrated solar PV platform Enerside Energy SA (BME:ENRS) disclosed several transactions over the past two days, during which it restructured its debt, secured financing for its business plan and gained a new shareholder -- Luxembourg-based family office Laurion Group.

Read more: https://renewablesnow.com/news/solar-firm-enerside-revamps-debt-welcomes-investor-in-multi-deal-spree-865300/

-- Solar EPCC firm Founder Group sets terms for Nasdaq IPO

Malaysian solar firm Founder Group Limited set the terms of its proposed initial public offering (IPO) in the US, which will seek to raise roughly USD 10 million (EUR 9.26m) in net proceeds for business expansion.

Read more: https://renewablesnow.com/news/solar-epcc-firm-founder-group-sets-terms-for-nasdaq-ipo-865243/

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