Weekly renewables M&A round-up (March 11-15)

Renewables Now covered M&A stories about BP, Ørsted, KKR, Plenitude, and others this week. Below is the full list:

-- Polish Energa buying owner of 37.4-MW wind project at home

Energa Green Development, a unit of Polish utility Energa, has agreed to purchase the developer of a 37.4-MW wind farm project in its home country under a deal with the company’s joint venture owners.

Read more: https://renewablesnow.com/news/polish-energa-buying-owner-of-374-mw-wind-project-at-home-851065/

-- GridStor snaps up 450-MW battery project in Texas

US energy storage company GridStor has purchased an up to 450-MW/900-MWh battery storage project in Texas, expecting to launch its construction as early as this summer.

Read more: https://renewablesnow.com/news/gridstor-snaps-up-450-mw-battery-project-in-texas-851048/

-- Sembcorp unveils Indonesian solar-storage JV, tender award in India

Singapore’s Sembcorp Industries Ltd (SGX:U96) has joined forces with a unit of utility PT PLN Nusantara Power to install what will be Indonesia’s first utility-scale solar and battery storage project in the country’s soon-to-be capital city of Nusantara.

Read more: https://renewablesnow.com/news/sembcorp-unveils-indonesian-solar-storage-jv-tender-award-in-india-851144/

-- Eni’s Plenitude completes minority stake sale to EIP

Plenitude, the renewables arm of Italian oil and gas major Eni SpA (BIT:ENI), has completed a deal through which it received a EUR-588-million (USD 642m) investment from Swiss investment company Energy Infrastructure Partners (EIP).

Read more: https://renewablesnow.com/news/enis-plenitude-completes-minority-stake-sale-to-eip-851134/

-- CTE Wind sets up new Baltic office with Peikko’s wind design team buy

French onshore wind turbine foundations-focused engineering consultancy CTE Wind International has reached an agreement to acquire the wind design team of Finnish concrete connections and composite structures supplier Peikko Group Corporation.

Read more: https://renewablesnow.com/news/cte-wind-sets-up-new-baltic-office-with-peikkos-wind-design-team-buy-851392/

-- B.Grimm Power invests in 740 MW of offshore wind in South Korea

Thai conglomerate B.Grimm Power PCL (BKK:BGRIM) has spent about USD 61 million (EUR 55.8m) to take stakes in two offshore wind projects in South Korea with a combined capacity of 740 MW in a drive to expand its portfolio of renewable power assets in the country.

Read more: https://renewablesnow.com/news/bgrimm-power-invests-in-740-mw-of-offshore-wind-in-south-korea-851180/

-- RPC buys 50-MW shovel-ready Finnish BESS project from ib vogt

German solar developer ib vogt GmbH has offloaded the rights to a 50-MW/50-MWh battery energy storage system (BESS) project in Finland to London-based renewables company Renewable Power Capital (RPC).

Read more: https://renewablesnow.com/news/rpc-buys-50-mw-shovel-ready-finnish-bess-project-from-ib-vogt-851310/

-- DIF Capital to cash in on 26-MW British wind farm

Netherlands-based infrastructure investment manager DIF Capital Partners has agreed to sell a 26-MW onshore wind farm in the UK to the Transport for London Pension Fund.

Read more: https://renewablesnow.com/news/dif-capital-to-cash-in-on-26-mw-british-wind-farm-851356/

-- Acciona buys 38-MW Aussie waste-to-energy project from Macquarie, DIF

Spanish renewables company Acciona Energia (BME:ANE) has purchased a 38-MW waste-to-energy plant currently being built in Kwinana, Western Australia, from Macquarie Capital and Dutch Infrastructure Fund (DIF).

Read more: https://renewablesnow.com/news/acciona-buys-38-mw-aussie-waste-to-energy-project-from-macquarie-dif-851314/

-- TRIG to shed 51.6-MW wind farm in Ireland

The Renewables Infrastructure Group Ltd (LON:TRIG) said on Tuesday that it is selling its 100% stake in the 51.6-MW Pallas wind farm in the Republic of Ireland.

Read more: https://renewablesnow.com/news/trig-to-shed-516-mw-wind-farm-in-ireland-851255/

-- EU clears offshore wind JV between Mitsui, Osaka Gas, RWE

The European Commission has approved a deal that will see Japanese project developer Mitsui & Co (TYO:8031), local energy firm Osaka Gas Co Ltd (TYO:9532) and a unit of Germany's RWE AG (ETR:RWE) set up a joint venture to develop a 684 MW offshore wind project in Japan.

Read more: https://renewablesnow.com/news/eu-clears-offshore-wind-jv-between-mitsui-osaka-gas-rwe-851278/

-- US biofuels maker XCF seals USD-1.84bn deal to go public at home

US sustainable fuels maker XCF Global Capital Inc said it is set to become the only public, pure-play sustainable aviation fuel (SAF) producer in the US after agreeing to merge with a local blank check company in a deal giving the combined entity a pro forma enterprise value of USD 1.84 billion (EUR 1.68bn).

Read more: https://renewablesnow.com/news/us-biofuels-maker-xcf-seals-usd-184bn-deal-to-go-public-at-home-851291/

-- BP lifts stake in massive AREH hydrogen scheme as Macquarie exits

Australia’s Macquarie Group has divested its 15% stake in the Australian Renewable Energy Hub (AREH) project, a massive green hydrogen production plan in Western Australia underpinned by 26 GW of wind and solar generation capacity.

Read more: https://renewablesnow.com/news/bp-lifts-stake-in-massive-areh-hydrogen-scheme-as-macquarie-exits-851333/

-- Excelsior sells 89 MWp of solar, storage assets to BlackRock fund

US renewable energy infrastructure investor Excelsior Energy Capital has unloaded an 89-MW DC portfolio of solar parks and battery storage systems from its first flagship fund to a fund managed by US investment giant BlackRock Inc (NYSE:BLK).

Read more: https://renewablesnow.com/news/excelsior-sells-89-mwp-of-solar-storage-assets-to-blackrock-fund-851340/

-- Orlen, Northland launch offshore wind service business in Poland

Energa Wytwarzanie, part of Polish oil refiner PKN Orlen (WAR:PKN), and Canadian power producer Northland Power Inc (TSE:NPI) have teamed up to establish a new company for servicing offshore wind farms in Poland.

Read more: https://renewablesnow.com/news/orlen-northland-launch-offshore-wind-service-business-in-poland-851365/

-- Ørsted sheds stakes in 957-MW onshore wind portfolio in US

Denmark’s Ørsted A/S (CPH:ORSTED) has clinched a deal to offload its entire stake in a 957-MW portfolio of wind farms in the US to alternative investor Stonepeak Infrastructure Partners in a move that will allow it to recycle capital and grow its business.

Read more: https://renewablesnow.com/news/rsted-sheds-stakes-in-957-mw-onshore-wind-portfolio-in-us-851338/

-- Japan's Shizen Energy takes full control of two Juwi JVs

Japanese renewables developer Shizen Energy Inc announced on Wednesday it has taken full control of its two joint venture (JV) companies with Germany's JUWI GmbH.

Read more: https://renewablesnow.com/news/japans-shizen-energy-takes-full-control-of-two-juwi-jvs-851397/

-- EU clears BlackRock’s USD-500m investment in Recurrent Energy

The European Commission (EC) on Wednesday cleared US investment giant BlackRock Inc’s (NYSE:BLK) agreement to acquire a 20% stake in utility-scale solar and energy storage firm Recurrent Energy LLC, a unit of Canadian Solar Inc (NASDAQ:CSIQ).

Read more: https://renewablesnow.com/news/eu-clears-blackrocks-usd-500m-investment-in-recurrent-energy-851408/

-- Italy’s GreenGo expands BESS portfolio with 120-MW acquisition

Italian renewable energy developer GreenGo Srl purchased the company holding the rights to a 120-MW/480-MWh battery energy storage system (BESS) project in the Calabria region of its home country.

Read more: https://renewablesnow.com/news/italys-greengo-expands-bess-portfolio-with-120-mw-acquisition-851495/

-- Residential solar co Sunergy lists on Nasdaq after SPAC merger

US residential solar and energy storage provider Sunergy Renewables LLC has concluded the proposed merger with blank check company ESGEN Acquisition Corp (NASDAQ:ESAC), creating a publicly traded company with a pro-forma implied enterprise value of USD 475 million (EUR 434.1m).

Read more: https://renewablesnow.com/news/residential-solar-co-sunergy-lists-on-nasdaq-after-spac-merger-851516/

-- Topsoe, Sasol launch SAF joint venture

Danish carbon emission reduction technologies specialist Topsoe and South Africa-based chemicals and energy company Sasol (JSE:SOL) have announced the launch of their joint venture focused on the development and delivery of sustainable aviation fuel (SAF).

Read more: https://renewablesnow.com/news/topsoe-sasol-launch-saf-joint-venture-851532/

-- Romgaz hunts for up to 100 MW of wind, solar acquisitions

Romanian natural gas producer Societatea Nationala de Gaze Naturale Romgaz SA (Romgaz) is looking to acquire renewable energy projects with a shovel-ready status and a combined capacity of up to 100 MW.

Read more: https://renewablesnow.com/news/romgaz-hunts-for-up-to-100-mw-of-wind-solar-acquisitions-851508/

-- Leonardo DiCaprio bets on solar cleantech SolarMente

SolarMente, a Spanish green energy start-up backed by Silicon Valley accelerator Y Combinator, has attracted as a new investor Hollywood star and environmentalist Leonardo DiCaprio.

Read more: https://renewablesnow.com/news/leonardo-dicaprio-bets-on-solar-cleantech-solarmente-851530/

-- SBM Offshore, Technip Energies enter into floating wind partnership

Dutch offshore floating facilities installer SBM Offshore and French engineering and technology company Technip Energies NV (EPA:TE) have decided to combine their expertise and jointly provide integrated floating solutions and delivery offerings for the floating offshore wind (FOW) market.

Read more: https://renewablesnow.com/news/sbm-offshore-technip-energies-enter-into-floating-wind-partnership-851541/

-- KKR to launch EUR 2.8bn bid for German renewables firm Encavis

A consortium led by US private equity firm KKR & Co Inc (NYSE:KKR) is set to launch a tender offer to acquire Encavis AG (ETR:ECV) at a total equity valuation of about EUR 2.8 billion (USD 3.06bn), the German wind and solar parks operator announced on Thursday.

Read more: https://renewablesnow.com/news/kkr-to-launch-eur-28bn-bid-for-german-renewables-firm-encavis-851568/

-- Neoenergia to become sole owner of subsidiary Cosern

Brazilian utility company Neoenergia SA (BVMF:NEOE3) announced on Thursday it has launched an offer to acquire the remaining 6.89% of the capital of its subsidiary Neoenergia Cosern, which it does not already own.

Read more: https://renewablesnow.com/news/neoenergia-to-become-sole-owner-of-subsidiary-cosern-851694/

-- Octopus Energy invests in German developer Lintas Green Energy

London-based Octopus Energy said Friday its generation arm has invested in German renewables developer Lintas Green Energy, with the aim of accelerating its growth across the country.

Read more: https://renewablesnow.com/news/octopus-energy-invests-in-german-developer-lintas-green-energy-851682/

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