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

Mark Rubens/Shutterstock.com

Renewables Now covered M&A stories about Siemens Gamesa, Adani Green, Duke Energy and others over the past week. Below is the full list:

-- UK pension fund USS buys half of 4-GW solar platform in Spain

UK private pension fund, the Universities Superannuation Scheme (USS), has made a deal to acquire a 50% stake in Spain-based renewables platform Bruc Energy, it was announced.

-- Falkor to set up e-methanol plant in France after investing in Liquid Wind

French investment firm Falkor has joined Liquid Wind, a Swedish power-to-fuel developer, as a minority equity investor and co-development partner.

-- Brazil's Copel to acquire 186.7-MW wind complex from Voltalia

Brazilian power utility Companhia Paranaense de Energia (BVMF:CPLE6), better known as Copel, has signed an agreement to purchase a 186.7-MW wind power complex from Voltalia Energia do Brasil SA.

-- Hexicon buying Wave Hub in UK to deploy up to 40 MW of floating wind

Swedish floating wind outfit Hexicon will acquire the Wave Hub test site in Cornwall, South West England and plans to develop it for a 30-MW-40-MW floating offshore wind demonstration project.

-- Trading of Siemens Gamesa shares suspended after takeover whispers

Spanish stock market regulator CNMV suspended trading of shares in wind turbine maker Siemens Gamesa Renewable Energy SA (BME:SGRE), citing “circumstances that could disturb the orderly course of transactions on such instruments”.

-- Hedge fund Elliot wants regional split of Duke Energy

Elliott Investment Management LP, which says it is a “top 10 investor” in Duke Energy Corp (NYSE:DUK), is pushing the US utilities group to consider a tax-free separation into three regionally-focused and publicly-traded companies.

-- France's Engie targets 80 GW of installed renewables by 2030

French energy company Engie SA (EPA:ENGI) announced plans to increase its investments in the renewable energy sector as well as to generate between EUR 9 billion and EUR 10 billion from disposals of non-core operations by 2023, in a bid to simplify its structure and boost shareholder value.

-- SkySpecs expands wind technology offering with two acquisitions

SkySpecs Inc, a US provider of digital asset management for the wind energy sector, announced the purchase of two wind technology firms -- Irish financial asset manager Fincovi and Danish artificial intelligence (AI) company Vertikal AI.

-- Holding co Criteria Caixa to strengthen Spanish ownership of Naturgy

Spanish investment holding company Criteria Caixa SAU will beef up its stake in power and gas utility Naturgy SA (BME:NTGY) in an effort to help it retain its “Spanishness”.

-- J-Power acquires 10% stake in Australia's Genex

Electric Power Development Co Ltd (TYO:9513), known as J-Power, has bought a 10% stake in Australian renewable energy company Genex Power Ltd (ASX:GNX).

-- Adani Green to buy SB Energy India in USD-3.5bn deal

Indian renewables developer Adani Green Energy Ltd (BOM:541450) has agreed to buy SB Energy Holdings Ltd, which owns a roughly 5-GW renewables portfolio in India, in a deal that puts a USD-3.5-billion enterprise value on the target.

-- Cubico takes ownership of 46.5-MW repowered wind farm in California

Eolus Vind AB (STO:EOLU-B) said it has completed the repowering of a 46.5-MW wind park in California and transferred its ownership to renewables investor Cubico Sustainable.

-- India's ReNew Power sees closing of merger early in Q3

ReNew Power Pvt Ltd, the Indian renewable power producer backed by Goldman Sachs, expects to close early in the third quarter of 2021 its merger that will list the company on Nasdaq in the US.

-- China's Recon to explore energy storage, other renewables tech

Chinese oil and gas field service company Recon Technology Ltd (NASDAQ:RCON) has decided to explore various renewable energy technologies, including energy storage, micro-grids, energy management and blockchain-based energy trading.

-- Octopus buys minority stake in 85.8-MW Swedish wind project

Octopus Renewables has acquired a 49% interest in an 85.8-MW wind farm project in Sweden from Mirova, the sustainable investment unit of France's Natixis Asset Management.

-- EBRD, EU funds support 4-MW solar project in Armenia

Private equity fund Amber Capital Armenia has acquired local solar plant operator Solis LLC to build and operate a 4-MW solar photovoltaic (PV) plant in Aragatsotn, western Armenia.

-- Portugal's Greenvolt bids to buy 42-MW biomass plant in England

Portuguese renewable energy company Greenvolt – Energias Renovaveis SA and an unnamed institutional investor have jointly placed a binding offer to acquire a 42-MW biomass power plant in England.

-- Engie Romania buys 5.46 MWp solar park in Teleorman county

The Romanian arm of French electric utility company Engie said that it has completed the acquisition of a 5.46 MWp operational photovoltaic park from a company owned by two German investors.

-- Sonnedix buys 4.5-MW solar carport in Spain

Sonnedix Power Holdings Ltd has acquired a 4.5-MW operating solar photovoltaic (PV) system in Spain from a group of individuals.

-- BayWa r.e. acquires Czech wholesaler of PV equipment

German renewables developer BayWa r.e. AG announced that it has acquired Solid Power Distribution s.r.o, a Czech wholesaler of components for solar PV systems and authorised distributor for major brands such as JinkoSolar Holding Co Ltd (NYSE:JKS) and GoodWe.

-- Motor Oil closes buy of 240-MW wind farm bundle in Greece

Greek petroleum refiner Motor Oil Hellas SA (FRA:MHZ) has completed the acquisition of a 240-MW portfolio of operational and under-construction wind parks at home in a cash deal worth EUR 117.1 million.

-- EDF, GIG to take stakes in French agrivoltaic biz with 2.4-GW portfolio

EDF Renouvelables, the renewables business of French utilities group Electricite de France SA (EPA:EDF), and Cero Generation, a European solar energy company, have signed a share purchase agreement to each acquire a 45% stake in France-based agrivoltaic specialist Green Lighthouse Development (GLHD).

-- UL expands solar offering with acquisition of Clear Sky Analytics

US provider of advisory services to the renewable energy industry Underwriters Laboratories (UL) said it has taken over solar analytics firm Clear Sky Analytics.

-- JLEN to buy stake in Italian waste-to-energy facility

JLEN Environmental Assets Group Ltd (LON:JLEN) is buying a 45% stake in a 16.8-MW waste-to-energy facility in Italy, the fund announced earlier in the week.