Weekly renewables M&A round-up (Mar 21-25)

Renewables Now covered M&A stories about Fortum, REC SIlicon, Mainstream Renewable Power and others in the past week. Below is the full list:

-- Aventron acquires 4.8-MW battery in Germany

Swiss green power producer Aventron AG announced it has acquired a 4.8-MW/5-MWh battery in Germany as part of a strategy to steadily increase its available electricity storage volume.

Read more: https://renewablesnow.com/news/aventron-acquires-48-mw-battery-in-germany-777721/

-- Fortum to sell stake in Norwegian district heating business for EUR 1bn

Finnish energy company Fortum Oyj (HEL:FORTUM) has sealed a deal to offload its 50% interest in Norway-based district heating company Fortum Oslo Varme AS to a consortium of investors for about NOK 10 billion on a cash and debt-free basis.

Read more: https://renewablesnow.com/news/fortum-to-sell-stake-in-norwegian-district-heating-business-for-eur-1bn-777903/

-- Germany's Avacon, Hansewerk set up green hydrogen JV

German energy companies Avacon AG and HanseWerk AG are planning to form a joint venture to build several hundred megawatts of electrolysis output in addition to the necessary green energy capacity in northern Germany by 2030 to support the industrial transformation in the region.

Read more: https://renewablesnow.com/news/germanys-avacon-hansewerk-set-up-green-hydrogen-jv-777912/

-- Kibo Energy to acquire 100-MW solar project in Zimbabwe

Renewables developer Kibo Energy Plc (LON:KIBO; JSE:KBO) has agreed to acquire a 100-MW solar project in Zimbabwe from Broomfield International Ltd for GBP 10 million in stock.

Read more: https://renewablesnow.com/news/kibo-energy-to-acquire-100-mw-solar-project-in-zimbabwe-777958/

-- Israeli EV infrastructure firm Chakratec raises USD 30m

Israeli firm Chakratec Ord Shs (TLV:CKRT) said it has raised ILS 96 million to accelerate progress towards becoming a leading global supplier in the market for electric vehicle (EV) charging infrastructure.

Read more: https://renewablesnow.com/news/israeli-ev-infrastructure-firm-chakratec-raises-usd-30m-777978/

-- AGP, Hartree establish US venture with 5-GW solar target

Investment manager AGP Sustainable Real Assets Pte Ltd and energy and commodities trader Hartree Partners LP announced the launch of a New York-based joint venture planning to build 5 GW of utility-scale solar plants across multiple US markets.

Read more: https://renewablesnow.com/news/agp-hartree-establish-us-venture-with-5-gw-solar-target-777992/

-- Aker Horizons to sell remaining REC Silicon shares to Hanwha

Aker Horizons ASA (OSE:AKH) announced it has agreed to dispose of its remaining shares in Norway-based polysilicon and silicon gas producer REC Silicon ASA to South Korea’s Hanwha Group.

Read more: https://renewablesnow.com/news/aker-horizons-to-sell-remaining-rec-silicon-shares-to-hanwha-778059/

-- Marubeni, BP join hands in Japanese offshore wind partnership

Oil-and-gas multinational BP Plc (LON:BP) and Japan’s Marubeni Corp (TYO:8002) have struck a deal to set up a joint venture (JV) dedicated to offshore wind development in Japan.

Read more: https://renewablesnow.com/news/marubeni-bp-join-hands-in-japanese-offshore-wind-partnership-778088/

-- Cindrigo acquires geothermal co in Central Europe, sets 1-GW target

Renewables developer Cindrigo Holdings Ltd (LON:CINH) has made use of an option to take over Energy Co-invest Global Corp (ECG), a geothermal energy specialist with an initial project portfolio in the Pannonian Basin of Central Europe.

Read more: https://renewablesnow.com/news/cindrigo-acquires-geothermal-co-in-central-europe-sets-1-gw-target-778097/

-- Infrastructure India agrees to extend deadline for wind park sale

Indian fund Infrastructure India plc (LON:IIP) has agreed to push back the long-stop date for the sale of one of the two wind farms totalling 41.3 MW currently being divested.

Read more: https://renewablesnow.com/news/infrastructure-india-agrees-to-extend-deadline-for-wind-park-sale-778109/

-- Bulgarian financial watchdog approves CM Green Energy Fund cap hike plans

Bulgaria's financial regulator said that it has approved a capital increase prospectus by CM Green Energy Fund [BUL:CGRN], which is seeking to raise up to 31.5 million levs.

Read more: https://renewablesnow.com/news/bulgarian-financial-watchdog-approves-cm-green-energy-fund-cap-hike-plans-778128/

-- ITM Power, Vitol to set up hydrogen refuelling JV

Energy and commodities trader Vitol and UK hydrogen technology firm ITM Power plc (LON:ITM) have agreed to create a hydrogen refueling joint venture, the companies said in separate announcements.

Read more: https://renewablesnow.com/news/itm-power-vitol-to-set-up-hydrogen-refuelling-jv-778146/

-- Sale of solar assets by Gresham House VCTs to take longer than expected

Two venture capital trusts managed by Gresham House Plc (LON:GHE) announced that the planned sale of their solar assets will take longer than anticipated to wrap up because of certain issues that emerged during due diligence.

Read more: https://renewablesnow.com/news/sale-of-solar-assets-by-gresham-house-vcts-to-take-longer-than-expected-778230/

-- Japan's Mitsui to invest USD 575m in Mainstream

Japanese trader Mitsui & Co Ltd (TYO:8031) has agreed to invest EUR 575 million in Mainstream Renewable Power to step up the growth of its renewable energy portfolio around the world, including across the Americas, Africa and Asia-Pacific.

Read more: https://renewablesnow.com/news/japans-mitsui-to-invest-usd-575m-in-mainstream-778267/

-- OX2 snaps up 500 MW of wind, solar projects in Greece

Swedish renewables developer OX2 AB (STO:OX2) said it has acquired two portfolios of wind and solar development projects in Greece with a combined capacity of more than 500 MW.

Read more: https://renewablesnow.com/news/ox2-snaps-up-500-mw-of-wind-solar-projects-in-greece-778310/

-- Sunfire raises EUR 86m to scale electrolysers production

German electrolyser maker Sunfire GmbH has raised an additional EUR 86 million as part of a Series D funding round to scale its manufacturing capacity for hydrogen technology and secured a supply deal for up to 640 MW of electrolysis with one of the new investors.

Read more: https://renewablesnow.com/news/sunfire-raises-eur-86m-to-scale-electrolysers-production-778402/

-- TRIG pockets USD 364m to fund Hornsea One stake purchase

The Renewables Infrastructure Group Ltd (LON:TRIG) has raised GBP 277.3 million gross from its recently unveiled equity issue to support the purchase of a minority stake in the 1.2-GW Hornsea One wind farm in UK waters, among others.

Read more: https://renewablesnow.com/news/trig-pockets-usd-364m-to-fund-hornsea-one-stake-purchase-778448/

-- Aquila European Renewables buying 100-MWp solar project duo in Spain

London-listed investment firm Aquila European Renewables Income Fund plc (LON:AERS), or AERIF, said it has struck a deal to acquire a 100-MWp portfolio of solar projects being built in Spain’s Andalusia region.

Read more: https://renewablesnow.com/news/aquila-european-renewables-buying-100-mwp-solar-project-duo-in-spain-778460/

-- Torrent Power closes buy of 50-MW solar park in India

India’s Torrent Power Ltd (BOM:532779) has closed the purchase of a special purpose vehicle (SPV) that holds a 50-MW solar power plant in the state of Maharashtra in a deal worth INR 3 billion.

Read more: https://renewablesnow.com/news/torrent-power-closes-buy-of-50-mw-solar-park-in-india-778481/

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