Weekly renewables M&A round-up (Oct 10-14)

Renewables Now covered M&A stories about Blackstone, GIP, American Airlines, Shell and others in the past week. Below is the full list:

-- TagEnergy buys 50-MW Scottish battery project from ILI Group

Global clean energy investor TagEnergy said it has acquired a 50-MW battery energy storage project in Scotland from local developer Intelligent Land Investments Group (ILI Group).

Read more: https://renewablesnow.com/news/tagenergy-buys-50-mw-scottish-battery-project-from-ili-group-800581/

-- Heartland Water Technology acquires gasification specialist

US wastewater management Heartland Water Technology Inc said it is creating a division for gasification solutions with the acquisition of Cogent Energy Systems.

Read more: https://renewablesnow.com/news/heartland-water-technology-acquires-gasification-specialist-800591/

-- ZeroAvia buys high-temperature PEM fuel cell firm HyPoint

Hydrogen-electric aircraft developer ZeroAvia said it has acquired California-headquartered fuel cell stack specialist HyPoint in a deal with undisclosed financial terms.

Read more: https://renewablesnow.com/news/zeroavia-buys-high-temperature-pem-fuel-cell-firm-hypoint-800643/

-- Solar developer EEW to list via SPAC merger, gets USD-650m valuation

In order to secure a listing on the Nasdaq Stock Market, London-based solar project developer EEW Eco Energy World Plc has agreed to a business combination with a special purpose acquisition company (SPAC) that values its equity at USD 650 million.

Read more: https://renewablesnow.com/news/solar-developer-eew-to-list-via-spac-merger-gets-usd-650m-valuation-800649/

-- MasTec wraps up USD-1.1bn IEA acquisition

US infrastructure builder MasTec (NYSE:MTZ) has concluded its previously announced takeover of renewables specialist Infrastructure and Energy Alternatives Inc (NASDAQ:IEA).

Read more: https://renewablesnow.com/news/mastec-wraps-up-usd-11bn-iea-acquisition-800700/

-- Energiekontor sells 8.25-MW German wind farm to Stadtwerke Heidenheim

German renewables developer and operator Energiekontor AG (ETR:EKT) said it has sold an 8.25-MW wind farm in North Rhine-Westphalia to the Stadtwerke Heidenheim AG-Group.

Read more: https://renewablesnow.com/news/energiekontor-sells-825-mw-german-wind-farm-to-stadtwerke-heidenheim-800770/

-- Axpo sell stake in 33-MW wind farm in Spain to Cubico

Swiss utility Axpo Holding AG said it has sold its 46% stake in a 33-MW wind farm in Spain to London-based renewables investor Cubico Sustainable Investments.

Read more: https://renewablesnow.com/news/axpo-sell-stake-in-33-mw-wind-farm-in-spain-to-cubico-800801/

-- EC approves Blackstone’s investment in Dutch Esdec Solar

The European Commission (EC) gave the go-ahead to US investment giant Blackstone’s (NYSE:BX) agreement to invest in Esdec Solar Group BV, a Dutch rooftop solar mounting systems provider and a portfolio company of European private equity firm Rivean Capital.

Read more: https://renewablesnow.com/news/ec-approves-blackstones-investment-in-dutch-esdec-solar-800816/

-- ReneSola buys UK-based solar developer Emeren

Solar project developer and operator ReneSola Ltd (NYSE:SOL) has acquired UK-based Emeren Ltd, which develops solar and battery projects in Europe and has a pipeline of over 2.5 GW at different stages of development.

Read more: https://renewablesnow.com/news/renesola-buys-uk-based-solar-developer-emeren-800819/

-- Fellow REC investor opposes Hanwha's board control, contract negotiations

Lodbrok Capital LLP, which says it is one of the largest investors in REC Silicon ASA (OSE:RECSI), is unhappy with the aspirations of South Korea’s Hanwha Group to contract the entire output of the Moses Lake polysilicon factory given its statute of being, while indeed the largest one, still just a minority shareholder.

Read more: https://renewablesnow.com/news/fellow-rec-investor-opposes-hanwhas-board-control-contract-negotiations-800835/

-- GIP buys LatAm renewables biz Atlas from Actis

Global Infrastructure Partners (GIP) announced it has acquired Latin America-focused platform Atlas Renewable Energy from private equity firm Actis.

Read more: https://renewablesnow.com/news/gip-buys-latam-renewables-biz-atlas-from-actis-800836/

-- INVL-run fund grows Romanian portfolio with 174-MW solar purchase

A renewable energy fund run by Lithuania’s INVL Asset Management has struck a deal to acquire a 174-MW solar project in Romania, expecting to enter construction towards the end of next year.

Read more: https://renewablesnow.com/news/invl-run-fund-grows-romanian-portfolio-with-174-mw-solar-purchase-800862/

-- Space solar panels maker Solestial raises USD 10m in fresh funds

US space solar panels developer Solestial Inc has closed an oversubscribed USD-10-million seed round led by the venture capital arm of European aircraft maker Airbus (EPA:AIR).

Read more: https://renewablesnow.com/news/space-solar-panels-maker-solestial-raises-usd-10m-in-fresh-funds-800864/

-- Israel's Ashtrom to co-develop 476 MW of solar projects in Greece

Israel’s Ashtrom Renewable Energy will take part in the development of a 476-MW portfolio of solar projects in Greece alongside a local partner, thus making its entry into the Balkan country.

Read more: https://renewablesnow.com/news/israels-ashtrom-to-co-develop-476-mw-of-solar-projects-in-greece-800873/

-- American Airlines invests in green H2 infrastructure firm Universal Hydrogen

American Airlines Group (NASDAQ:AAL) has made a strategic equity investment of an undisclosed amount in US green hydrogen distributor Universal Hydrogen Co as part of its carbon reduction goal by 2035.

Read more: https://renewablesnow.com/news/american-airlines-invests-in-green-h2-infrastructure-firm-universal-hydrogen-800885/

-- Mainstream, AboitizPower team up on 90-MW wind project in Philippines

Global renewables developer Mainstream Renewable Power and Philippine power producer Aboitiz Power Corp have teamed up to deliver an initial 90-MW onshore wind project in the Philippines.

Read more: https://renewablesnow.com/news/mainstream-aboitizpower-team-up-on-90-mw-wind-project-in-philippines-800946/

-- Hydro-Quebec to get hold of New England's largest hydro fleet in USD-2bn deal

A unit of Canadian electric utility Hydro-Quebec has signed a USD-2-billion deal to acquire US hydropower company Great River Hydro LLC, operating in New England, from affiliates of private equity firm ArcLight Capital Partners LLC.

Read more: https://renewablesnow.com/news/hydro-quebec-to-get-hold-of-new-englands-largest-hydro-fleet-in-usd-2bn-deal-800971/

-- Enel wraps up EUR-137m sale of Russian business

Italian electric utility and major renewables player Enel SpA (BIT:ENEL) said it has completed the divestment of its entire shareholding in its Russian subsidiary in a deal worth about EUR 137 million.

Read more: https://renewablesnow.com/news/enel-wraps-up-eur-137m-sale-of-russian-business-801009/

-- Shell, Foresight snap up 370-MW Aussie wind-solar-battery project

British oil giant Shell Plc (LON:SHEL) said it has teamed up with Australia’s Foresight, formerly Infrastructure Capital Group to acquire the development rights of a 370-MW hybrid renewable energy project in Western Australia.

Read more: https://renewablesnow.com/news/shell-foresight-snap-up-370-mw-aussie-wind-solar-battery-project-801012/

-- APG buys 49% stake in USD-1.2bn Gemini hybrid in Nevada

Dutch pension asset manager APG has purchased a 49% stake in the USD-1.2-billion Gemini solar-plus-storage complex near Las Vegas, Nevada.

Read more: https://renewablesnow.com/news/apg-buys-49-stake-in-usd-12bn-gemini-hybrid-in-nevada-801025/

-- Yellow Door Energy raises USD 400m to fund business plan

Dubai-based solar platform Yellow Door Energy Ltd (YDE) has closed a USD-400-million equity raise, securing the capital needed to fully fund its business plan for the next five years.

Read more: https://renewablesnow.com/news/yellow-door-energy-raises-usd-400m-to-fund-business-plan-801035/

-- Greenbacker buys 4-MWdc solar project in Virginia

Sustainable infrastructure investor Greenbacker Capital Management LLC announced it has acquired a 3.9-MW direct current (DC) solar project in Virginia.

Read more: https://renewablesnow.com/news/greenbacker-buys-4-mwdc-solar-project-in-virginia-801044/

-- Alternus secures USD-863m valuation, Nasdaq listing with SPAC merger

Ireland-based and solar-focused independent power producer (IPP) Alternus Energy Group Plc (OSE:ALT) has agreed a merger with a blank check company that will give it a US listing on Nasdaq and an initial equity value of about USD 863 million.

Read more: https://renewablesnow.com/news/alternus-secures-usd-863m-valuation-nasdaq-listing-with-spac-merger-801059/

-- Mirova backs Estonia's Sunly to raise EUR 200m

Estonian independent power producer Sunly has raised around EUR 200 million from existing shareholders and new investor Mirova to build and expand its renewables portfolio in the Baltic countries and Poland, the companies said.

Read more: https://renewablesnow.com/news/mirova-backs-estonias-sunly-to-raise-eur-200m-801070/

-- Prime Capital buying 90-MW Finnish wind project ahead of new fund launch

German independent asset manager Prime Capital AG is buying a Finnish wind project of over 90 MW as the final investment for its Prime Green Energy Infrastructure Fund (PGEIF), it announced.

Read more: https://renewablesnow.com/news/prime-capital-buying-90-mw-finnish-wind-project-ahead-of-new-fund-launch-801087/

-- IBC SOLAR sells 120 MW of solar projects in Poland

A division of German photovoltaics specialist IBC Solar AG has agreed to sell the rights to two solar photovoltaic (PV) projects with a combined capacity of 120 MW in Poland to Israeli energy company Afcon Renewable Energy.

Read more: https://renewablesnow.com/news/ibc-solar-sells-120-mw-of-solar-projects-in-poland-801117/

-- Turkey's Sabanci Holdings buys 272-MW solar project in Texas

Advanced Power AG, a Switzerland-based power infrastructure developer with an 8-GW renewables pipeline in the US, announced it has sold a 272-MW solar project in Texas to a unit of Turkish conglomerate Sabanci Holdings (IST:SAHOL).

Read more: https://renewablesnow.com/news/turkeys-sabanci-holdings-buys-272-mw-solar-project-in-texas-801179/

-- Japan's Chubu invests in geothermal start-up Eavor

Japan’s Chubu Electric Power Co Inc (TYO:9502) has agreed to make a direct investment in Canadian geothermal start-up Eavor Technologies Inc, which is looking to commercialise its closed loop geothermal technology Eavor-Loop.

Read more: https://renewablesnow.com/news/japans-chubu-invests-in-geothermal-start-up-eavor-801219/

-- RES sells 47-MW wind asset in N Ireland to ERG

UK-based renewables developer RES has signed a deal to sell the up-to-47-MW Corlacky Hill wind farm in Northern Ireland to a local subsidiary of Italian energy company ERG SpA (BIT:ERG).

Read more: https://renewablesnow.com/news/res-sells-47-mw-wind-asset-in-n-ireland-to-erg-801254/

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