Weekly renewables M&A round-up (Oct 16-20)

Renewables Now covered M&A stories about Ørsted, Ingka, Scatec, Equinor and others in the past week. Below is the full list:

-- Climate goals help boost global solar corp funding in Jan-Sept

Total corporate funding in the global solar sector, including venture capital (VC), public market and debt financing deals, increased by 55% on the year in the first nine months of 2023 even as deals suffered from inflationary pressures.

Read more: https://renewablesnow.com/news/climate-goals-help-boost-global-solar-corp-funding-in-jan-sept-836778/

-- EC nods to Enel's partial sale of Greek renewables arm

Italian utility Enel SpA has obtained approval from the European Commission (EC) to offload a 50% stake in its Greek renewable energy unit to a fund owned by Macquarie Asset Management for EUR 345 million.

Read more: https://renewablesnow.com/news/ec-nods-to-enels-partial-sale-of-greek-renewables-arm-836808/

-- GIS buys EPC contractor Discovery Industries

Energy services company Grand Isle Shipyard (GIS) has bolstered its offering for the renewable energy sector with the acquisition of Discovery Industries, a US-based engineering, procurement and construction (EPC) firm focused on onshore wind and utility-scale solar power.

Read more: https://renewablesnow.com/news/gis-buys-epc-contractor-discovery-industries-836825/

-- Biomethane maker Agrivert buys solar, storage firm Chiltern Solar

UK biomethane producer Agrivert has unveiled the acquisition of local solar PV and battery storage solutions provider Chiltern Solar Limited, broadening its renewable energy product offering.

Read more: https://renewablesnow.com/news/biomethane-maker-agrivert-buys-solar-storage-firm-chiltern-solar-836833/

-- Rooftop solar firm Freyr Energy raises funds for expansion

India-based rooftop solar firm Freyr Energy has raised USD 7 million in a Series B financing round, securing funds for team expansion, product development and marketing initiatives.

Read more: https://renewablesnow.com/news/rooftop-solar-firm-freyr-energy-raises-funds-for-expansion-836894/

-- Poland’s Energa buying 334-MW solar-wind project at home

Energa Wytwarzanie, a unit of Polish oil refiner PKN Orlen, has clinched a preliminary deal to buy the owner of a hybrid wind and solar project at home with a proposed capacity of up to 334 MW.

Read more: https://renewablesnow.com/news/polands-energa-buying-334-mw-solar-wind-project-at-home-836921/

-- Hull Street Energy invests in distributed solar platform Greenskies

Private equity firm Hull Street Energy LLC has invested an unspecified amount in distributed solar and energy storage project developer Greenskies Clean Focus.

Read more: https://renewablesnow.com/news/hull-street-energy-invests-in-distributed-solar-platform-greenskies-836927/

-- Ørsted strikes EUR-473m deal to sell half of Gode Wind 3

Danish energy major Ørsted A/S announced it is selling a 50% interest in the 253-MW Gode Wind 3 offshore wind project in German waters to funds managed by Nuveen’s Glennmont Partners.

Read more: https://renewablesnow.com/news/rsted-strikes-eur-473m-deal-to-sell-half-of-gode-wind-3-836933/

-- Enviromena pockets fresh capital to bankroll 500-MW solar goal

UK clean energy services company Enviromena has secured GBP 65 million in an equity funding round to support its goal of growing its solar portfolio at home to over 500 MW by 2025.

Read more: https://renewablesnow.com/news/enviromena-pockets-fresh-capital-to-bankroll-500-mw-solar-goal-836935/

-- Cathay Life selected to bid for 50% in Ørsted's Taiwan offshore wind farm

Taiwanese insurer Cathay Life Insurance has secured the status of preferred bidder for the acquisition of a 50% stake in the 583-MW Greater Changhua 4 offshore wind project off the coast of Taiwan from Danish energy major Ørsted A/S.

Read more: https://renewablesnow.com/news/cathay-life-selected-to-bid-for-50-in-rsteds-taiwan-offshore-wind-farm-836997/

-- Ingka Investments buys into Source Galileo’s offshore wind assets

A unit of Ingka Group, the largest franchisee of Swedish furniture retailer IKEA, has bought a 20% stake in pan-European renewables developer Source Galileo’s portfolio of offshore wind projects in Ireland and the UK to back IKEA’s all-renewable goal.

Read more: https://renewablesnow.com/news/ingka-investments-buys-into-source-galileos-offshore-wind-assets-837046/

-- NovoHydrogen raises funds to advance project pipeline

US green hydrogen start-up NovoHydrogen has attracted a USD-20-million equity investment from clean energy company Modern Energy with the fresh funds to be used to expand its team and advance its project pipeline.

Read more: https://renewablesnow.com/news/novohydrogen-raises-funds-to-advance-project-pipeline-837078/

-- Grenergy lands deal to sell 300 MW of solar assets in Spain

Spanish renewables firm Grenergy Renovables SL has signed a EUR-270.6-million deal to sell nearly 300 MW of solar power generating capacity in Spain to the asset management arm of German insurer Allianz SE and other institutional investors.

Read more: https://renewablesnow.com/news/grenergy-lands-deal-to-sell-300-mw-of-solar-assets-in-spain-837080/

-- EDF Renewables to become JV partner in 200-MW Scottish wind project

EDF Renewables UK and Irish utility ESB Group have tied up to jointly deliver a 200-MW wind project in Scotland after the unit of Electricite de France (EDF) bought a 50% in the joint venture (JV) behind the scheme.

Read more: https://renewablesnow.com/news/edf-renewables-to-become-jv-partner-in-200-mw-scottish-wind-project-837126/

-- Complete Solaria wraps up sale of shingled cell IP, dealer ops

California-based end-to-end solar solutions provider Complete Solaria Inc has completed the sale of its dealer channel operations and contracts, as well as its solar panel patent portfolio relating primarily to shingled cell solar panel technology to Singapore-based Maxeon Solar Technologies Ltd.

Read more: https://renewablesnow.com/news/complete-solaria-wraps-up-sale-of-shingled-cell-ip-dealer-ops-837127/

-- Scatec, Equinor to sell jointly owned 117-MW solar farm in Argentina

Norwegian renewable power producer Scatec ASA and compatriot Equinor ASA have agreed to sell their stakes in the 117-MW Guanizuil IIA solar farm in Argentina in a move that will mark Scatec’s exit from the country.

Read more: https://renewablesnow.com/news/scatec-equinor-to-sell-jointly-owned-117-mw-solar-farm-in-argentina-837225/

-- Oost NL invests in Dutch electrolysers maker XINTC

East Netherlands Development Agency, Oost NL, has made an investment in XINTC as part of a new financing round that will allow the Dutch electrolysers maker to continue product development, scale up its production facility and advance its commercial projects both at home and abroad.

Read more: https://renewablesnow.com/news/oost-nl-invests-in-dutch-electrolysers-maker-xintc-837226/

-- Clearvise unloads Finnish wind farm portfolio to Nuveen

German independent power producer Clearvise AG said it has finalised the sale of its entire Finnish wind portfolio to Nuveen Infrastructure, part of UK clean energy fund manager Glennmont Partners.

Read more: https://renewablesnow.com/news/clearvise-unloads-finnish-wind-farm-portfolio-to-nuveen-837237/

-- Solar cell start-up Cosmos Innovation raises USD 19.7m in funding

Singapore-based Cosmos Innovation, a start-up focused on AI-powered perovskite silicon tandem (PST) solar cell technology, has exited from stealth, raising USD 19.7 million in total funding to support its platform.

Read more: https://renewablesnow.com/news/solar-cell-start-up-cosmos-innovation-raises-usd-197m-in-funding-837325/

-- Forest owner SCA snaps up 105-MW Swedish wind project

Swedish project developer Arise AB has sold a 105-MW onshore wind project at home to domestic private forest owner Svenska Cellulosa at an enterprise value of about SEK 1.6 billion.

Read more: https://renewablesnow.com/news/forest-owner-sca-snaps-up-105-mw-swedish-wind-project-837331/

-- ERG sells CCGT plant in Italy, goes fully wind and solar

Italian energy group ERG SpA has finalised the sale of the 480-MW Priolo Gargallo combined-cycle gas turbine (CCGT) cogeneration plant in Sicily, the last asset that stood on its way to becoming a wind and solar company only.

Read more: https://renewablesnow.com/news/erg-sells-ccgt-plant-in-italy-goes-fully-wind-and-solar-837337/

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