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

Renewables Now covered M&A stories about Macquarie, KKR, Saeta, Neoen, Enel, and others this week. Below is the full list:

-- Econergy sheds 214-MW Romanian PV project to Turkish group

Israel's Econergy Renewable Energy Ltd has offloaded its 214-MW Niculesti solar photovoltaic (PV) project nearing the shovel-ready stage in Romania in a deal worth EUR 33 million.

Read more: https://renewablesnow.com/news/econergy-sheds-214-mw-romanian-pv-project-to-turkish-group-861373/

-- Macquarie, Norsk Hydro complete renewables JV deal

Macquarie Asset Management has closed the acquisition of a 49.9% stake in the renewable energy business of Norwegian aluminium supplier Norsk Hydro ASA, the latter said.

Read more: https://renewablesnow.com/news/macquarie-norsk-hydro-complete-renewables-jv-deal-861386/

-- KKR secures 87.4% stake in German renewables firm Encavis

US private equity company KKR & Co Inc has ensured an 87.41% interest in German wind and solar parks operator Encavis AG through its voluntary public takeover offer, which expired on June 18.

Read more: https://renewablesnow.com/news/kkr-secures-874-stake-in-german-renewables-firm-encavis-861416/

-- China Three Gorges targets Spanish renewables firm Saeta - report

State-owned power company China Three Gorges is weighing up a possible takeover bid for Spanish clean energy producer Saeta Yield SA, a company within Brookfield Asset Management’s portfolio, Bloomberg reports.

Read more: https://renewablesnow.com/news/china-three-gorges-targets-spanish-renewables-firm-saeta-report-861452/

-- Dutch APG invests USD 400m in US developer Doral Renewables

Philadelphia-based renewable energy company Doral Renewables LLC has attracted a USD-400-million minority equity investment from Dutch pension solutions provider APG on behalf of the largest Dutch pension fund ABP.

Read more: https://renewablesnow.com/news/dutch-apg-invests-usd-400m-in-us-developer-doral-renewables-861472/

-- Meyer Burger starts Arizona ops, attracts strategic partnership

Meyer Burger Technology AG has launched manufacturing at its new solar module production facility in Goodyear, Arizona, and secured an investment commitment from an unnamed US industry and technology player.

Read more: https://renewablesnow.com/news/meyer-burger-starts-arizona-ops-attracts-strategic-partnership-861494/

-- Brookfield inks EUR-6bn deal for majority stake in France's Neoen

Brookfield Asset Management, along with institutional partners including Brookfield Renewable and Singapore’s Temasek Holdings, has clinched a deal to buy a majority stake in French renewable power producer Neoen SA, the latter said.

Read more: https://renewablesnow.com/news/brookfield-inks-eur-6bn-deal-for-majority-stake-in-frances-neoen-861509/

-- NKT expands offering with takeover of power cables firm SolidAl

Danish power cable manufacturer NKT A/S announced it is expanding its production capacity and geographic presence with the EUR-192-million acquisition of SolidAl, a Portuguese peer specialised in medium- and high-voltage cables.

Read more: https://renewablesnow.com/news/nkt-expands-offering-with-takeover-of-power-cables-firm-solidal-861532/

-- KKR to invest USD 400m in P2X JV with Ignis

US private equity firm KKR & Co has agreed to pour up to EUR 400 million for the development and construction of primarily green hydrogen and ammonia projects as part of a new Power-to-X (P2X) joint venture with Spanish renewables firm Ignis.

Read more: https://renewablesnow.com/news/kkr-to-invest-usd-400m-in-p2x-jv-with-ignis-861539/

-- Pacific Green buying into 100 MW of battery projects in Poland

Pacific Green Technologies Inc intends to buy a majority stake in a 100-MW/400-MWh portfolio of battery energy storage projects in Poland, making its entry into the local market.

Read more: https://renewablesnow.com/news/pacific-green-buying-into-100-mw-of-battery-projects-in-poland-861569/

-- MUFG invests in SAF producer LanzaJet

Japan’s Mitsubishi UFJ Financial Group Inc, or MUFG, has participated in a USD-100-million equity funding round of LanzaJet, supporting the scale-up of its sustainable aviation fuel (SAF) production.

Read more: https://renewablesnow.com/news/mufg-invests-in-saf-producer-lanzajet-861595/

-- Macquarie to exit Hydro Dolomiti Energia at EUR 1bn valuation

Macquarie Asset Management has agreed to sell its 40% stake Hydro Dolomiti Energia (HDE), an Italian hydropower company with 1.3 GW of installed capacity, at a valuation of about EUR 1 billion for the whole business.

Read more: https://renewablesnow.com/news/macquarie-to-exit-hydro-dolomiti-energia-at-eur-1bn-valuation-861601/

-- Verdant Earth Technologies abandons blank-check merger

Australian biomass technologies firm Verdant Earth Technologies Limited and the special purpose acquisition company (SPAC) it had agreed to merge with to go public in London have mutually decided to end discussions on the contemplated tie-up.

Read more: https://renewablesnow.com/news/verdant-earth-technologies-abandons-blank-check-merger-861605/

-- Q Energy sells 33-MW solar project in UK

European renewables developer Q Energy announced the sale of a 33-MW solar project in Northeast England to UK specialist real assets investment manager AlphaReal.

Read more: https://renewablesnow.com/news/q-energy-sells-33-mw-solar-project-in-uk-861643/

-- The Mobility House, GESI team up for large-scale storage in Germany

German companies The Mobility House and Green Energy Storage Initiative SE (GESI Giga Batteries) have set up a joint venture to build large-scale battery storage systems in Germany.

Read more: https://renewablesnow.com/news/the-mobility-house-gesi-team-up-for-large-scale-storage-in-germany-861662/

-- Altus Power expands in New Jersey with 8.5-MW solar acquisition

US solar developer Altus Power Inc has boosted its New Jersey portfolio to 185.5 MW with the acquisition of a photovoltaic (PV) park that will supply green electricity to PJM market.

Read more: https://renewablesnow.com/news/altus-power-expands-in-new-jersey-with-85-mw-solar-acquisition-861667/

-- Edison buys into 975-MW floating wind project off Sicily

Italian utility Edison SpA has bought a 50% stake in a company developing a 975-MW floating offshore wind project off the coast of Sicily, Italy, in a move that will speed up its growth in the renewable energy sector.

Read more: https://renewablesnow.com/news/edison-buys-into-975-mw-floating-wind-project-off-sicily-861679/

-- Antaisolar, Bahra Electric to set up solar tracker JV in Saudi Arabia

China-based PV mounting system solutions maker Antaisolar and Saudi Arabia's Bahra Electric have agreed to form a joint venture (JV) to produce solar trackers and mounting solutions in the Kingdom.

Read more: https://renewablesnow.com/news/antaisolar-bahra-electric-to-set-up-solar-tracker-jv-in-saudi-arabia-861703/

-- Voltabox quits talks on sale of solar energy subsidiary

German e-mobility solutions provider Voltabox AG said that it has terminated discussions to sell its 80% stake in local solar energy equipment firm GreenCluster GmbH to an unnamed party.

Read more: https://renewablesnow.com/news/voltabox-quits-talks-on-sale-of-solar-energy-subsidiary-861715/

-- Renewco, INDHO green hydrogen JV eyes 1 GW in Spain

UK-based renewables platform Renewco Power has formed a joint venture (JV) with Spanish green hydrogen developer INDHO, planning to develop 1 GW of green hydrogen projects in Spain within five years.

Read more: https://renewablesnow.com/news/renewco-indho-green-hydrogen-jv-eyes-1-gw-in-spain-861717/

-- Enel sells stake in EUR-2.5bn flexible power portfolio to Sosteneo

Italian utility group Enel SpA has closed the sale of a 49% stake in its regulated capacity services business, Enel Libra Flexsys Srl, to asset manager Sosteneo SGR SpA for EUR 1.1 billion.

Read more: https://renewablesnow.com/news/enel-sells-stake-in-eur-25bn-flexible-power-portfolio-to-sosteneo-861722/

-- BayWa r.e. takes hold of 46-MWp solar park in Romania

German renewables company BayWa r.e. AG has acquired a roughly 46-MWp solar photovoltaic (PV) park in southeastern Romania.

Read more: https://renewablesnow.com/news/baywa-re-takes-hold-of-46-mwp-solar-park-in-romania-861776/

-- GF Corp invests in 180-MW Taiwanese floating wind project

Japanese renewables company GF Corporation has joined as a key strategic partner in a 180-MW offshore wind project coordinated by Netherlands-based IX Renewables that could be the first floating scheme to be built in Taiwan.

Read more: https://renewablesnow.com/news/gf-corp-invests-in-180-mw-taiwanese-floating-wind-project-861782/

-- Storebrand to raise stake in energy transition-focused investor AIP

Norwegian financial services company Storebrand has signed a deal to increase to 60% its ownership in AIP Management P/S, a Danish infrastructure fund manager that has invested in renewable energy assets with a combined capacity of about 7 GW.

Read more: https://renewablesnow.com/news/storebrand-to-raise-stake-in-energy-transition-focused-investor-aip-861864/

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