Weekly renewables M&A round-up (Jun 17-21)

Renewables Now covered M&A stories about Genex, Fortescue, Sembcorp, TenneT, BP, and others this week. Below is the full list:

-- Premier Energy, Motor Oil unit buy 86-MW Romanian PV project duo

Romanian power distributor Premier Energy said it has taken possession of 86 MW of solar projects at home in partnership with a unit of Greece’s Motor Oil Group for an undisclosed amount.

Read more: https://renewablesnow.com/news/premier-energy-motor-oil-unit-buy-86-mw-romanian-pv-project-duo-860810/

-- J-Power gets regulatory nod to take over Aussie renewables firm Genex

Japanese utility Electric Power Development Co Ltd, or J-Power, has been cleared by Australia’s Foreign Investment Review Board (FIRB) to take over Australian renewables and energy storage firm Genex Power Ltd.

Read more: https://renewablesnow.com/news/j-power-gets-regulatory-nod-to-take-over-aussie-renewables-firm-genex-860837/

-- Germany’s Singulus, China’s Jinchen form JV for PV cell, module tools

Singulus Technologies AG and China’s Yingkou Jinchen Machinery Co Ltd have formed a joint venture that will offer Jinchen’s photovoltaic (PV) module production lines and Singulus Technologies’ cell equipment.

Read more: https://renewablesnow.com/news/germanys-singulus-chinas-jinchen-form-jv-for-pv-cell-module-tools-860843/

-- Pentland floating wind project attracts Japanese investment

The developer of the 100-MW Pentland Floating Offshore Wind Farm in Scotland said the project has secured investment from Eurus Energy UK Ltd, a unit of Japan’s Eurus Energy Holdings Corp, which will become a part owner of the project.

Read more: https://renewablesnow.com/news/pentland-floating-wind-project-attracts-japanese-investment-860845/

-- Tages Capital snaps up 160 MW of Italian solar, arranges debt

Independent energy infrastructure investor and solar park operator Tages Capital SGR SpA has acquired roughly 160 MW of solar parks in Italy and secured debt financing to bankroll the purchase.

Read more: https://renewablesnow.com/news/tages-capital-snaps-up-160-mw-of-italian-solar-arranges-debt-860858/

-- Fortescue makes new investment into wind tech firm Nabrawind

Australian mining and green energy company Fortescue Ltd has injected more equity into wind turbine engineer Nabrawind, giving the Spanish firm a financial boost to accelerate the commercialisation of its innovative products.

Read more: https://renewablesnow.com/news/fortescue-makes-new-investment-into-wind-tech-firm-nabrawind-860896/

-- Pontegadea acquires 158-MW French wind portfolio - report

Spanish family holding company Pontegadea, led by fast fashion mogul Amancio Ortega, has agreed to acquire three wind farms totalling some 158 MW in France from French renewables group EDF Renouvelables, El Economista reported.

Read more: https://renewablesnow.com/news/pontegadea-acquires-158-mw-french-wind-portfolio-report-860910/

-- Meridiam to enter Greece-Cyprus-Israel interconnector project

French sustainable infrastructure investor Meridiam will join the shareholders of the project company implementing the subsea interconnection that will link the electricity networks of Greece, Cyprus and Israel.

Read more: https://renewablesnow.com/news/meridiam-to-enter-greece-cyprus-israel-interconnector-project-860934/

-- Norway's sovereign wealth fund buys 37.5% of Race Bank wind park

A consortium comprised of funds owned by Macquarie Asset Management and Spring Infrastructure Capital Co has offloaded its 37.5% stake in the 573-MW Race Bank offshore wind farm off Britain's Norfolk coast in a deal valuing the entire asset at GBP 2.6 billion.

Read more: https://renewablesnow.com/news/norways-sovereign-wealth-fund-buys-375-of-race-bank-wind-park-860941/

-- Pacific Partnerships buys rights to 700-MW solar project in NSW

Pacific Partnerships, a subsidiary of construction group CIMIC, said it has bought the development rights to a 700-MW solar park with a proposed co-located battery energy storage system (BESS) in New South Wales.

Read more: https://renewablesnow.com/news/pacific-partnerships-buys-rights-to-700-mw-solar-project-in-nsw-860943/

-- TPI Composites to sell automotive ops to focus on wind

US composite wind blades maker TPI Composites Inc has agreed to sell its automotive business to local investment firm Clear Creek Investments LLC (CCI) as part of its continued focus on its core business in the wind market.

Read more: https://renewablesnow.com/news/tpi-composites-to-sell-automotive-ops-to-focus-on-wind-860972/

-- Spain's Everwood sells solar, storage vehicle to Denmark's Glentra

Spanish fund manager Everwood Capital has closed the sale of its renewables development vehicle DVP Solar Worldwide to Denmark's Glentra Capital, both the buyer and the seller announced.

Read more: https://renewablesnow.com/news/spains-everwood-sells-solar-storage-vehicle-to-denmarks-glentra-861011/

-- Mooreast plans expansion in Singapore to serve floating renewables

Total mooring solutions provider Mooreast Holdings Ltd said it plans to acquire a site from a subsidiary of Seatrium Ltd and thus quadruple its production capacity in Singapore to serve the floating offshore renewables sector.

Read more: https://renewablesnow.com/news/mooreast-plans-expansion-in-singapore-to-serve-floating-renewables-861024/

-- Spanish farmers get chance to invest in Statkraft's new solar plants

Norwegian power producer Statkraft A/S announced its plan to build two 77-MW solar plants in the Valencian Community, eastern Spain, and offer local farmers the opportunity to co-invest in the projects.

Read more: https://renewablesnow.com/news/spanish-farmers-get-chance-to-invest-in-statkrafts-new-solar-plants-861031/

-- DRI buys 126 MW of solar in Romania, plans Croatian wind farm

DRI, the green energy unit of Ukraine’s DTEK Croup, is expanding its footprint on the Balkans with the acquisition of a 126-MW solar project in Romania and plans to build a 127.5-MW wind farm in Croatia.

Read more: https://renewablesnow.com/news/dri-buys-126-mw-of-solar-in-romania-plans-croatian-wind-farm-861035/

-- Octopus Energy makes first US renewables bet with 100-MW solar buy

London-based clean energy company Octopus Energy announced its first investment in US renewables with the purchase of two operational solar projects with a combined capacity of 100 MW from developer-operator Vesper Energy.

Read more: https://renewablesnow.com/news/octopus-energy-makes-first-us-renewables-bet-with-100-mw-solar-buy-861046/

-- Sembcorp bags 196 MW of wind, solar in Vietnam acquisition deal

Singaporean energy sector player Sembcorp Industries Ltd has finalised the acquisition of majority stakes in three firms in Vietnam, adding their operational wind and solar assets totalling 196 MW to its portfolio in that country.

Read more: https://renewablesnow.com/news/sembcorp-bags-196-mw-of-wind-solar-in-vietnam-acquisition-deal-861069/

-- Hydrogen pipeline maker Strohm raises EUR 30m in new funds

Dutch composite pipe technology company Strohm Holding BV has raised EUR 30 million in fresh funds to expand its manufacturing capabilities to meet the needs of both traditional offshore customers and for offshore hydrogen and carbon capture applications.

Read more: https://renewablesnow.com/news/hydrogen-pipeline-maker-strohm-raises-eur-30m-in-new-funds-861083/

-- Downing snaps up 35 MWp of British solar from NextEnergy

London-based investment manager Downing announced it has acquired a 35-MWp operational solar park in England’s Lincolnshire in a deal worth roughly GBP 28 million.

Read more: https://renewablesnow.com/news/downing-snaps-up-35-mwp-of-british-solar-from-nextenergy-861138/

-- Masdar seeks EUR 3.2bn takeover of Greek renewables firm Terna

UAE-based renewables developer Masdar is seeking a full takeover of Terna Energy SA, a Greek renewables firm targeting an operational capacity of 6 GW by 2030, at a valuation of about EUR 3.2 billion, including debt.

Read more: https://renewablesnow.com/news/masdar-seeks-eur-32bn-takeover-of-greek-renewables-firm-terna-861189/

-- SC Oscar acquires New Zealand solar developer Ranui Generation

Renewable energy-focused fund manager SC Oscar has announced the acquisition of New Zealand-based solar power developer Ranui Generation which has a portfolio of four development-stage projects in the North Island with a total capacity of 157 MWp.

Read more: https://renewablesnow.com/news/sc-oscar-acquires-new-zealand-solar-developer-ranui-generation-861210/

-- MET Group buys solar-plus-storage development in Germany

Switzerland-based integrated energy company MET Group has taken over a solar-plus-storage project in the German state of Saxony, aiming to develop a solar farm with an expected capacity of 62 MWp and a co-located battery system of 60 MW/240 MWh.

Read more: https://renewablesnow.com/news/met-group-buys-solar-plus-storage-development-in-germany-861213/

-- German micro-inverter maker Solarnative goes up for sale

German PV micro-inverter maker Solarnative GmbH is searching for a buyer of the company and its technology in order to avoid insolvency and secure “the urgently needed liquidity for the market ramp-up,” it said.

Read more: https://renewablesnow.com/news/german-micro-inverter-maker-solarnative-goes-up-for-sale-861218/

-- TenneT cancels talks with KfW over full sale of Germany unit

TenneT Holding, the grid operator in the Netherlands and parts of Germany, has formally ended talks with Kreditanstalt für Wiederaufbau (KfW) in connection with the potential full sale of TenneT Germany.

Read more: https://renewablesnow.com/news/tennet-cancels-talks-with-kfw-over-full-sale-of-germany-unit-861225/

-- Enersense mulls sale of wind, solar project pipeline

Finnish green energy services provider Enersense International Oyj has abandoned its push to become a zero-emission energy producer and is considering options for, including a sale of, its wind and solar project development activities so as to focus on its core operations.

Read more: https://renewablesnow.com/news/enersense-mulls-sale-of-wind-solar-project-pipeline-861251/

-- Innergex to unload minority stakes in 826-MW of Texas wind, solar

Canadian independent power producer Innergex Renewable Energy Inc has struck an agreement to sell minority stakes in a 826-MW wind and solar farm portfolio in Texas to Los Angeles-based investment manager Irradiant Partners LP.

Read more: https://renewablesnow.com/news/innergex-to-unload-minority-stakes-in-826-mw-of-texas-wind-solar-861255/

-- BP agrees buyout of Brazilian biofuels JV at USD-1.4bn EV

British energy major BP Plc has struck a deal to take full ownership of its Brazilian biofuels joint venture with US grain trader Bunge Global SA which is associated with a daily capacity of around 50,000 barrels of ethanol equivalent produced from sugarcane.

Read more: https://renewablesnow.com/news/bp-agrees-buyout-of-brazilian-biofuels-jv-at-usd-14bn-ev-861287/

-- Nextracker agrees takeover of US solar foundations expert Ojjo

US solar tracker maker Nextracker Inc announced the acquisition of local solar foundations expert Ojjo for USD 119 million in cash, building on the two companies’ multi-year product collaboration.

Read more: https://renewablesnow.com/news/nextracker-agrees-takeover-of-us-solar-foundations-expert-ojjo-861291/

-- Floating wind firm Aikido raises funds ahead of pilot project launch

San Francisco, California-based floating wind technologies developer Aikido Technologies has raised USD 4 million in a seed funding round to advance its technology, hire staff and develop a commercial pipeline ahead of its pilot project presentation.

Read more: https://renewablesnow.com/news/floating-wind-firm-aikido-raises-funds-ahead-of-pilot-project-launch-861295/

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