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

Renewables Now covered M&A stories about BP, KKR, Morgan Stanley and others in the past week. Below is the full list:

-- Sweden's Eolus selling 750-MW solar-battery project in Arizona

Swedish renewables developer Eolus Vind AB (STO:EOLU-B) said it has clinched a deal to offload a mid-stage US development project with 750 MW of initial aggregate solar generation and battery storage capacity.

Read more: https://renewablesnow.com/news/swedens-eolus-selling-750-mw-solar-battery-project-in-arizona-801318/

-- US Solar Fund to explore potential sale, other options

US Solar Fund Plc (LON:USF) announced it has hired financial advisers to help it consider all potential strategic options to maximise shareholder value, including the launch of a formal sale process for the entire company.

Read more: https://renewablesnow.com/news/us-solar-fund-to-explore-potential-sale-other-options-801337/

-- Swedish electrofuel firm Liquid Wind raises EUR 15.2m in Series B capital

Liquid Wind, a Swedish company developing electrofuel production facilities, has raised EUR 15.2 million in Series B financing from existing investors and UK-based hydrogen specialist investment fund HyCap Fund I SCSp.

Read more: https://renewablesnow.com/news/swedish-electrofuel-firm-liquid-wind-raises-eur-152m-in-series-b-capital-801340/

-- QatarEnergy to take full control of solar power firm Siraj Energy

State-owned petroleum company QatarEnergy has agreed to acquire the remaining 49% stake in Siraj Energy in a deal that will boost its total solar power capacity under direct control to 1.675 GW.

Read more: https://renewablesnow.com/news/qatarenergy-to-take-full-control-of-solar-power-firm-siraj-energy-801370/

-- Vargronn JV completes Dogger Bank stake acquisition

Vargronn, a joint venture between Plenitude, the decarbonisation business of Italian oil group Eni SpA (BIT:ENI), and Norwegian energy investor HitecVision, has completed the acquisition of Plenitude’s 20% stake in the 3.6-GW Dogger Bank offshore wind farm in the UK, which will become the world’s largest when completed in 2026.

Read more: https://renewablesnow.com/news/vargronn-jv-completes-dogger-bank-stake-acquisition-801385/

-- BP to buy US biogas producer Archaea Energy for USD 4.1bn

British oil and gas major BP Plc (LON:BP) has agreed to acquire US renewable natural gas (RNG) producer Archaea Energy Inc (NYSE:LFG) for USD 3.3 billion in cash plus the assumption of around USD 800 million in net debt, it was announced.

Read more: https://renewablesnow.com/news/bp-to-buy-us-biogas-producer-archaea-energy-for-usd-41bn-801429/

-- Solarkiosk forms JV to roll out solar rural malls in rural east Africa

Berlin-based Solarkiosk Solutions GmbH announced a joint venture with renewables development and engineering firm East African Power Ltd to build and operate solar-powered business centres, called The Pulse, in rural communities in Rwanda and the African Great Lakes region.

Read more: https://renewablesnow.com/news/solarkiosk-forms-jv-to-roll-out-solar-rural-malls-in-rural-east-africa-801454/

-- India's SJVN to enter 1-GW floating solar development JV in Assam

The green energy arm of Indian state-owned power generator Satluj Jal Vidyut Nigam (SJVN) has signed a Memorandum of Understanding (MoU) with Assam Power Distribution Co Ltd (APDCL) to develop 1 GW of floating solar projects in the northeastern state of Assam.

Read more: https://renewablesnow.com/news/indias-sjvn-to-enter-1-gw-floating-solar-development-jv-in-assam-801485/

-- Lodbrok becomes REC Silicon’s 2nd largest investor amid Hanwha dispute

Lodbrok Capital LLP announced it has built a stake that makes it the largest shareholder in REC Silicon ASA (OSE:RECSI) other than South Korea’s Hanwha Group, noted it could buy even more shares and once again fired shots at the board of the Norway-based company for not ameliorating its previously shared concerns.

Read more: https://renewablesnow.com/news/lodbrok-becomes-rec-silicons-2nd-largest-investor-amid-hanwha-dispute-801522/

-- Repsol, Engie bidding for Spanish renewables platform with 6-GW portfolio - report

Spanish multi-energy group Repsol SA (BME:REP) and French utility group Engie SA (EPA:ENGI) are bidding to acquire a Spain-based renewable energy platform with an over 6-GW portfolio of projects under development, Reuters reports.

Read more: https://renewablesnow.com/news/repsol-engie-bidding-for-spanish-renewables-platform-with-6-gw-portfolio-report-801526/

-- Commerz Real invests in 169-MW wind, solar portfolio in France

German investment manager Commerz Real AG said it has taken a 49% stake in a 169.1-MW renewable energy portfolio in France from local asset manager Mirova, an affiliate of Natixis Investment Managers.

Read more: https://renewablesnow.com/news/commerz-real-invests-in-169-mw-wind-solar-portfolio-in-france-801542/

-- Wafra takes control of solar developer Mission Clean Energy

New York-based global alternative asset manager Wafra Inc has bought a controlling interest in utility-scale renewables and storage developer Mission Clean Energy LLC in a transaction also backed by clean infrastructure investor Aggregate Power Infrastructure LLC (API).

Read more: https://renewablesnow.com/news/wafra-takes-control-of-solar-developer-mission-clean-energy-801601/

-- Standard Solar buys 6.2 MW of community solar in Rhode Island

US firm Standard Solar Inc said it has acquired a 6.2-MW portfolio of community solar projects in Rhode Island from China’s Trina Solar Co Ltd (SHA:688599).

Read more: https://renewablesnow.com/news/standard-solar-buys-62-mw-of-community-solar-in-rhode-island-801602/

-- Hong Kong PE firm to help Maoneng build 1.9-GW Aussie battery, solar portfolio

Australian renewables developer Maoneng Group has teamed up with Hong Kong-based private equity firm Gaw Capital Partners to fast-track a 1.9-GW portfolio of predominantly battery projects in Australia, it was announced.

Read more: https://renewablesnow.com/news/hong-kong-pe-firm-to-help-maoneng-build-19-gw-aussie-battery-solar-portfolio-801647/

-- Octopus Energy, Nexta team up on 1.1 GW of renewables in Italy

UK’s Octopus Energy Group said it is setting up a joint venture (JV) with Milan-based renewables developer Nexta Capital Partners to back the development of 1.1 GW of new onshore wind, solar and energy storage projects in southern Italy by 2025.

Read more: https://renewablesnow.com/news/octopus-energy-nexta-team-up-on-11-gw-of-renewables-in-italy-801712/

-- Mubadala takes stake in offshore wind developer Skyborn Renewables

Abu Dhabi's investment fund Mubadala Investment Company has taken a stake in Skyborn Renewables, a German offshore wind farm developer with a 30-GW pipeline of projects in different stages of development.

Read more: https://renewablesnow.com/news/mubadala-takes-stake-in-offshore-wind-developer-skyborn-renewables-801723/

-- Enagas sells 5% stake in renewables unit to Spain's Navantia

Spanish gas grid operator Enagas SA (BME:ENG) has signed an agreement to sell a 5% stake in its renewable gases unit Enagas Renovable to Spain’s state-owned shipbuilder Navantia, both companies announced.

Read more: https://renewablesnow.com/news/enagas-sells-5-stake-in-renewables-unit-to-spains-navantia-801735/

-- Sonnedix acquires IPP with 290-MW wind and solar portfolio in Chile

Global independent power producer (IPP) Sonnedix Power Holdings Ltd said it has finalised the acquisition of Chile-based peer Arco, a platform with 290 MW wind and solar projects in the country.

Read more: https://renewablesnow.com/news/sonnedix-acquires-ipp-with-290-mw-wind-and-solar-portfolio-in-chile-801742/

-- KKR's Virescent buys 20-MW Indian PV park from Jakson Group

Indian platform Virescent Renewable Energy Trust (VRET) has acquired a 20-MW/25.9 MW DC solar park in the state of Rajasthan from domestic energy and infrastructure company Jakson Group.

Read more: https://renewablesnow.com/news/kkrs-virescent-buys-20-mw-indian-pv-park-from-jakson-group-801816/

-- KKR exploring sale of 500-MWp Indian renewables platform - report

Global investment firm KKR & Co Inc (NYSE:KKR) is considering the sale of its Indian renewable energy platform Virescent and its 500 MWp of solar assets, business daily Mint reports.

Read more: https://renewablesnow.com/news/kkr-exploring-sale-of-500-mwp-indian-renewables-platform-report-801817/

-- Owners of solar developer ISS looking for USD 150m to sell company

US solar project developer Innovative Solar Systems LLC (ISS) announced that the company is being offered for sale at a firm price of USD 150 million.

Read more: https://renewablesnow.com/news/owners-of-solar-developer-iss-looking-for-usd-150m-to-sell-company-801908/

-- Greenbacker buys 7.6-MW solar portfolio in Vermont

Greenbacker Renewable Energy Company LLC announced it has acquired a pre-operational solar portfolio in Vermont with a combined capacity in direct current (DC) of up to 7.6 MW.

Read more: https://renewablesnow.com/news/greenbacker-buys-76-mw-solar-portfolio-in-vermont-801937/

-- CVC paying EUR 300m to obtain joint control over Enel's Gridspertise

Italian utility Enel SpA (BIT:ENEL) has agreed to sell a 50% interest in grid digitalisation specialist Gridspertise Srl to private equity fund CVC Capital Partners Fund VIII so they could operate the company in a joint control regime.

Read more: https://renewablesnow.com/news/cvc-paying-eur-300m-to-obtain-joint-control-over-enels-gridspertise-801946/

-- Morgan Stanley prepares to put PNE on the block

Morgan Stanley (NYSE:MS) is planning to launch preliminary talks on the sale of its entire interest in German wind power-focused renewables company PNE AG (ETR:PNE3) about three years after failing to take a majority stake in the business.

Read more: https://renewablesnow.com/news/morgan-stanley-prepares-to-put-pne-on-the-block-801959/

-- SIMEC Atlantis to sell majority stake in tidal engineering arm to management

Sustainable energy projects developer SIMEC Atlantis Energy Ltd (LON:SAE) has entered into an agreement to sell a majority stake in its Advanced Tidal Engineering and Services (ATES) division to the business’ own management team.

Read more: https://renewablesnow.com/news/simec-atlantis-to-sell-majority-stake-in-tidal-engineering-arm-to-management-801962/

-- Ørsted halves stake in 862-MW wind, solar portfolio in US

Denmark’s Ørsted A/S (CPH:ORSTED) has wrapped up a deal with private equity firm Energy Capital Partners to offload a 50% stake in an 862-MW onshore wind and solar portfolio in the US.

Read more: https://renewablesnow.com/news/rsted-halves-stake-in-862-mw-wind-solar-portfolio-in-us-801974/

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