Weekly renewables M&A round-up (Oct 23-27)

Renewables Now covered M&A stories about Enel, Macquarie, Statkraft, Ingka Investments and others in the past week. Below is the full list:

-- Statkraft to take full control of Norwegian advanced biofuels JV

Norwegian power company Statkraft AS will take full ownership of its biofuel technology joint venture (JV) and look for a new partner to build a commercial-scale, second-generation biofuels plant at home.

Read more: https://renewablesnow.com/news/statkraft-to-take-full-control-of-norwegian-advanced-biofuels-jv-837385/

-- EBRD to invest EUR 75m in Polish renewables developer R.Power

The European Bank for Reconstruction and Development (EBRD) unveiled a new commitment to invest EUR 75 million in Polish independent power producer (IPP) and renewables developer R.Power SA to help it expand its business.

Read more: https://renewablesnow.com/news/ebrd-to-invest-eur-75m-in-polish-renewables-developer-rpower-837418/

-- Greenvolt to take control of Enerpower, enter Irish DG market

Portuguese energy firm Greenvolt - Energias Renovaveis SA announced it has inked a deal to acquire a majority interest in Enerpower which provides distributed generation (DG) solar solutions in Ireland.

Read more: https://renewablesnow.com/news/greenvolt-to-take-control-of-enerpower-enter-irish-dg-market-837434/

-- Enel to sell US geothermal portfolio and some solar parks for USD 271m

The North American unit of Italian energy major Enel SpA has entered into an agreement to sell a portfolio of US geothermal and solar power plants totalling 150 MW to Ormat Technologies Inc.

Read more: https://renewablesnow.com/news/enel-to-sell-us-geothermal-portfolio-and-some-solar-parks-for-usd-271m-837445/

-- Macquarie invests USD 332m in Norsk Hydro's renewables biz

Macquarie Asset Management has clinched a deal to acquire a 49.9% stake in the renewable energy business of Norwegian aluminium supplier Norsk Hydro ASA, the latter announced.

Read more: https://renewablesnow.com/news/macquarie-invests-usd-332m-in-norsk-hydros-renewables-biz-837548/

-- Power Capital Renewable Energy looking for buyer - report

Irish solar power and battery storage firm Power Capital Renewable Energy (PCRE) has been offered for sale with merchant banking firm Akereos Capital tapped to help find a new owner for the business, the Times reports, citing insiders.

Read more: https://renewablesnow.com/news/power-capital-renewable-energy-looking-for-buyer-report-837565/

-- Energy storage firm CMBlu attracts EUR 100m from Strabag

Austrian construction company Strabag SE has made its first investment in an energy storage producer with a EUR 100 million bet on German battery maker CMBlu Energy as part of a preferred partnership agreement.

Read more: https://renewablesnow.com/news/energy-storage-firm-cmblu-attracts-eur-100m-from-strabag-837569/

-- Masdar keen on buying 49% of Iberdrola's East Anglia 3 - report

Abu Dhabi Future Energy Company PJSC, better known as Masdar, is willing to acquire a 49% stake in Spanish utility Iberdrola SA’s 1,400-MW East Anglia 3 offshore wind project in Scotland, according to a Spanish media report.

Read more: https://renewablesnow.com/news/masdar-keen-on-buying-49-of-iberdrolas-east-anglia-3-report-837575/

-- Heraeus invests in French solar module maker HoloSolis

German family-owned technology group Heraeus Holding GmbH said it is acquiring a stake in French company HoloSolis, which plans to open a 5-GW factory for photovoltaic cells and panels in 2025.

Read more: https://renewablesnow.com/news/heraeus-invests-in-french-solar-module-maker-holosolis-837614/

-- CleanCo joins investors of 372-MW wind project in Queensland

Queensland’s publicly owned energy company CleanCo said it will invest in the 372-MW Moah Creek Wind Farm project in its home state after securing state funding to back Queensland’s renewables ambitions.

Read more: https://renewablesnow.com/news/cleanco-joins-investors-of-372-mw-wind-project-in-queensland-837644/

-- Photosol starts building one PV project in France, buys three in Spain

French solar power producer Rubis Photosol announced the start of construction of a 200-MWp solar photovoltaic farm in the Oise department of France and an acquisition of three solar projects in Spain.

Read more: https://renewablesnow.com/news/photosol-starts-building-one-pv-project-in-france-buys-three-in-spain-837647/

-- Hitachi Energy takes majority stake in Powin's Eks Energy

Switzerland-based Hitachi Energy has acquired a majority interest in Spanish power electronics and renewable energy management systems provider Eks Energy (EKS) from US energy storage group Powin LLC.

Read more: https://renewablesnow.com/news/hitachi-energy-takes-majority-stake-in-powins-eks-energy-837662/

-- Enel Chile closes sale of 416-MW solar portfolio to Sonnedix

Multinational independent power producer (IPP) Sonnedix Power Holdings Ltd has closed the purchase of a 416-MW operational solar portfolio in Chile from Italian utility group Enel SpA and took out a loan to finance the acquisition and refinance an unrelated plant in the South American country.

Read more: https://renewablesnow.com/news/enel-chile-closes-sale-of-416-mw-solar-portfolio-to-sonnedix-837664/

-- Tata Steel in talks to buy stake in 966-MW hybrid renewable project

Tata Steel has closed negotiations that will lead to a definitive deal regarding the Indian steelmaker’s plan to buy 26% of a company developing a 966-MW hybrid renewable complex that will supply green power for its operations.

Read more: https://renewablesnow.com/news/tata-steel-in-talks-to-buy-stake-in-966-mw-hybrid-renewable-project-837669/

-- Verbund snaps up 56.4 MW of wind capacity in Germany

Austrian utility Verbund AG unveiled the acquisition of a portfolio of German wind power assets with a combined capacity of 56.4 MW from a fund owned by sustainability-focused investor Impax Asset Management Group Plc.

Read more: https://renewablesnow.com/news/verbund-snaps-up-564-mw-of-wind-capacity-in-germany-837670/

-- Eden raises USD 12m to advance electric rock fracturing

Eden, a US company focused on more sustainable natural resource recovery, said it has closed an oversubscribed, USD-12-million seed funding round and will use the capital to scale its technology across geothermal, geologic hydrogen, geologic carbon storage and mining applications.

Read more: https://renewablesnow.com/news/eden-raises-usd-12m-to-advance-electric-rock-fracturing-837671/

-- India's AmpIn, Jupiter to form 1.3-GW solar manufacturing JV

Indian renewables platform AmpIn Energy Transition, formerly Amp Energy India, has tied up with solar product maker Jupiter International to set up a 1.3-GW production plant for photovoltaic (PV) cells and modules.

Read more: https://renewablesnow.com/news/indias-ampin-jupiter-to-form-13-gw-solar-manufacturing-jv-837683/

-- Palladium Energy obtains funds for solar, storage expansion

US utility-scale solar and storage developer Palladium Energy has secured USD 10 million from energy transition and decarbonisation-focused investment firm Ultra Capital to expand its team and development pipeline.

Read more: https://renewablesnow.com/news/palladium-energy-obtains-funds-for-solar-storage-expansion-837699/

-- Geothermal energy firm Voltan attracts venture capital backing

Finnish geothermal energy infrastructure firm Voltan Energy has secured EUR 1.5 million in funding to realise more projects and expand its commercial and operational team with an investment from the venture capital arm of domestic chemicals group Kiilto.

Read more: https://renewablesnow.com/news/geothermal-energy-firm-voltan-attracts-venture-capital-backing-837705/

-- Enel closes EUR-1.2bn sale of Romanian biz to Greek PPC

Italian utility Enel SpA said it has wrapped up the EUR-1.24-billion sale of its Romanian business to Greek peer PPC SA.

Read more: https://renewablesnow.com/news/enel-closes-eur-12bn-sale-of-romanian-biz-to-greek-ppc-837778/

-- Eavor closes USD-132m equity round led by OMV

Eavor Technologies Inc, the Canadian developer of a globally scalable geothermal closed-loop technology, has successfully closed a CAD-182-million equity round led by Austrian oil and chemicals group OMV AG.

Read more: https://renewablesnow.com/news/eavor-closes-usd-132m-equity-round-led-by-omv-837799/

-- Duke Energy’s Commercial Renewables business rebrands after sale close

US utility Duke Energy Corp said it has concluded the sale of its unregulated utility-scale Commercial Renewables business to Canadian investment manager Brookfield Corp.

Read more: https://renewablesnow.com/news/duke-energys-commercial-renewables-business-rebrands-after-sale-close-837800/

-- TotalEnergies swoops for German renewables aggregator Quadra Energy

French energy group TotalEnergies SE announced an agreement with the Aloys Wobben Foundation (AWS) to acquire Quadra Energy, an aggregator of renewable power production in Germany.

Read more: https://renewablesnow.com/news/totalenergies-swoops-for-german-renewables-aggregator-quadra-energy-837809/

-- Enfinity to sell stake in 400-MW US solar portfolio to Kyushu Electric

Enfinity Global Inc announced it has agreed to sell a 40% stake in a 400-MW operating solar portfolio in the US to Japanese utility Kyushu Electric Power Company Inc.

Read more: https://renewablesnow.com/news/enfinity-to-sell-stake-in-400-mw-us-solar-portfolio-to-kyushu-electric-837822/

-- Brazilian WEG to buy into German wind tech co Bewind

Brazilian electrical equipment manufacturer WEG SA has signed a deal to buy a 45% minority stake in Germany-based wind turbine engineering and technology developer Bewind GmbH.

Read more: https://renewablesnow.com/news/brazilian-weg-to-buy-into-german-wind-tech-co-bewind-837825/

-- Meridian, NZ Windfarms team up on 170-MW repowering project

NZ Windfarms and Meridian Energy Ltd, New Zealand’s largest electricity producer, will form an equally owned joint venture to repower and expand the Te Rere Hau wind farm in New Zealand’s first project of this type.

Read more: https://renewablesnow.com/news/meridian-nz-windfarms-team-up-on-170-mw-repowering-project-837858/

-- Statkraft buys 37 GW of offshore, onshore wind pipelines in Sweden

Norwegian power company Statkraft AS announced it has acquired two companies holding pipelines filled with over 37 GW of onshore and offshore wind projects in Sweden, in an effort to strengthen its position in the wind energy sector in the country.

Read more: https://renewablesnow.com/news/statkraft-buys-37-gw-of-offshore-onshore-wind-pipelines-in-sweden-837864/

-- Salka Energy buys more than 20-year-old wind farm in California

US renewable energy firm Salka LLC has bought a 39-MW wind farm in California that has been operating for more than 20 years, with plans to repower the facility.

Read more: https://renewablesnow.com/news/salka-energy-buys-more-than-20-year-old-wind-farm-in-california-837870/

-- Innergex closes EUR-130m stake sale in French renewables portfolio

Canada’s Innergex Renewable Energy Inc said it has wrapped up the minority stake sale in its renewables portfolio in France to insurer Credit Agricole Assurance, getting an investment of EUR 129.5 million.

Read more: https://renewablesnow.com/news/innergex-closes-eur-130m-stake-sale-in-french-renewables-portfolio-837893/

-- EnBW's DZ4 sells German portfolio of 3,500 solar, storage systems

Impax Asset Management Group Plc and Bullfinch Asset AG have bought a portfolio of around 3,500 decentralised solar plants and battery storage systems spread across Germany from local rooftop solar rental company DZ-4 GmbH (DZ4).

Read more: https://renewablesnow.com/news/enbws-dz4-sells-german-portfolio-of-3500-solar-storage-systems-837930/

-- Ingka Investments buys 300-MWp solar project in Romania

The Netherlands-based firm Ingka Investments has acquired a 300-MWp ready-to-build solar photovoltaic project in Dambovita county, Romanian, it said in a press release.

Read more: https://renewablesnow.com/news/ingka-investments-buys-300-mwp-solar-project-in-romania-837987/

-- Iron and salt batteries developer Inlyte closes seed round

Inlyte Energy, a US start-up developing grid-scale batteries made with iron and table salt, has raised USD 8 million in a seed funding round to advance go-to-market initiatives.

Read more: https://renewablesnow.com/news/iron-and-salt-batteries-developer-inlyte-closes-seed-round-838019/

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