Weekly renewables M&A round-up (Oct 28 - Nov 1)

Renewables Now covered M&A stories about QatarEnergy, Low Carbon, Ørsted, and others this week. Below is the full list:

-- OnPath offloads 67.2-MW Scottish wind farm to Schroders Greencoat

Funds managed by British investment manager Schroders Greencoat LLP have taken full ownership of the 67.2-MW Kype Muir Extension wind farm in Scotland, which was recently inaugurated by OnPath Energy.

Read more: https://renewablesnow.com/news/onpath-offloads-672-mw-scottish-wind-farm-to-schroders-greencoat-872481/

-- Acciona Energia hydro assets attract big-name bidders - report

The reported hydropower asset sale by Spanish renewables company Acciona Energia (BME:ANE) has caught the eye of utility heavy-weights Endesa SA (BME:ELE) and Statkraft AS, business newspaper Cinco Dias reported.

Read more: https://renewablesnow.com/news/acciona-energia-hydro-assets-attract-big-name-bidders-report-872569/

-- UK installation firm LMF Energy Services attracts investor

UK investment firm Soho Square Capital said that it has made a growth investment in Live Manage Facilitate Limited, trading as LMF Energy Services, a local installer of renewable energy measures such as heat pumps, solar panels, electric storage heaters and insulation.

Read more: https://renewablesnow.com/news/uk-installation-firm-lmf-energy-services-attracts-investor-872564/

-- Good Energy seeks to buy UK solar installer Empower Energy

UK renewable power firm Good Energy Group Plc (LON:GOOD) is advancing its strategy for expansion in the solar installation market with an agreement to acquire local company Empower Energy Limited for up to GBP 8 million (USD 10.3m/EUR 9.5m).

Read more: https://renewablesnow.com/news/good-energy-seeks-to-buy-uk-solar-installer-empower-energy-872560/

-- QatarEnergy, TotalEnergies team up on 1.25-GWp solar project in Iraq

Petroleum companies QatarEnergy and TotalEnergies SE (EPA:TTE) have signed an agreement to develop a solar complex of up to 1.25 GWp in Iraq. QatarEnergy will acquire a 50% interest in the project, while the French peer will retain the remaining 50%.

Read more: https://renewablesnow.com/news/qatarenergy-totalenergies-team-up-on-125-gwp-solar-project-in-iraq-872613/

-- First Sentier Investors to acquire Spanish bioenergy firm Enso

Igneo Infrastructure Partners, a division of Australian asset manager First Sentier Investors (FSI), is seeking to acquire Spanish biomass energy firm Enso Energy Environment and Sustainability (Enso), sources familiar with the matter confirmed after a formal announcement of the acquisition was sent to the competition watchdog in Portugal.

Read more: https://renewablesnow.com/news/igneo-to-acquire-spanish-bioenergy-firm-enso-872695/

-- Merlin Solar raises USD 31m to increase module production capacity

Merlin Solar, a US firm offering solar panels for mobile environments and rooftops, has raised nearly USD 31 million (EUR 28.6m) in a Series B funding round that will help it increase production capacity and secure working capital to meet growing customer demand.

Read more: https://renewablesnow.com/news/merlin-solar-raises-usd-31m-to-increase-module-production-capacity-872689/

-- PE firm eyes USD-2.5bn deal for French renewables firm Akuo - report

Private equity firm Ardian is holding advanced discussions on a possible takeover of Akuo in a deal that could value the French renewable power producer and developer at about USD 2.5 billion (EUR 2.31bn), including debt, Bloomberg reports.

Read more: https://renewablesnow.com/news/pe-firm-eyes-usd-25bn-deal-for-french-renewables-firm-akuo-report-872736/

-- Low Carbon offloads 6-GW Dutch BESS portfolio to CCI unit

UK renewable energy company Low Carbon announced the sale of a 6-GW battery energy storage (BESS) portfolio to S4 Energy, a Dutch grid-scale energy storage developer and operator majority-owned by global merchant firm Castleton Commodities International (CCI).

Read more: https://renewablesnow.com/news/low-carbon-offloads-6-gw-dutch-bess-portfolio-to-cci-unit-872718/

-- Vattenfall buys Germany's Geosolar

Swedish state-owned utility Vattenfall AB has acquired German heating solutions firm Geosolar as it seeks to expand its energy offerings for single- and two-family homes.

Read more: https://renewablesnow.com/news/vattenfall-buys-germanys-geosolar-872788/

-- Asset manager ICG buys 50% of S Korean onshore wind platform Revent

Global alternative asset manager ICG plc (LON:ICG) announced it has bought a 50% stake in Revent Energy Co Ltd, a South Korean onshore wind development platform aiming to reach 500 MW of installed capacity in the next five years.

Read more: https://renewablesnow.com/news/asset-manager-icg-buys-50-of-s-korean-onshore-wind-platform-revent-872737/

-- Virya Energy snaps up French solar installer Sunopee

Belgium-based Virya Energy NV has acquired French solar installer and power producer Sunopee in a move to expand into France’s commercial and industrial (C&I) solar sector.

Read more: https://renewablesnow.com/news/virya-energy-snaps-up-french-solar-installer-sunopee-872773/

-- ALLETE sells 70-MW wind project in Wisconsin to Invenergy

ALLETE Clean Energy, a unit of US energy company ALLETE Inc (NYSE:ALE), has offloaded a 70-MW wind project in Wisconsin to Chicago-based Invenergy, which will install the plant and then re-sell it to utility WEC Energy Group (NYSE:WEC).

Read more: https://renewablesnow.com/news/allete-sells-70-mw-wind-project-in-wisconsin-to-invenergy-872777/

-- Ørsted sells 12.45% of 3.5-GW UK offshore wind portfolio to Brookfield

Danish clean energy company Ørsted A/S (CPH:ORSTED) is selling a 12.45% stake in four operational UK offshore wind farms with a combined capacity of 3.5 GW to Brookfield Asset Management Ltd (TSE:BAM).

Read more: https://renewablesnow.com/news/rsted-sells-1245-of-35-gw-uk-offshore-wind-portfolio-to-brookfield-872780/

-- Mainstream's Chilean wind, solar assets up for grabs - report

Dublin-based solar and wind pure-player Mainstream Renewable Power is seeking to sell its operations in Chile, Chilean newspaper La Tercera reported.

Read more: https://renewablesnow.com/news/mainstreams-chilean-wind-solar-assets-up-for-grabs-report-873017/

-- Energy storage start-up Redoxblox bags USD 40.7m in funding round

Redoxblox, a US firm developing thermochemical energy storage systems (TCES), has closed its Series A financing round at around USD 40.7 million (EUR 37.6m), adding to recent grants awarded by the California Energy Commission (CEC) and the US Department of Energy (DoE).

Read more: https://renewablesnow.com/news/energy-storage-start-up-redoxblox-bags-usd-407m-in-funding-round-873044/

-- Aussie regulator imposes condition on Brookfield's Neoen takeover

The Australian competition watchdog will not oppose to Brookfield Asset Management’s (TSE:BAM.PF.F) planned acquisition of Neoen SA (EPA:NEOEN) but will require the French company’s assets in Victoria to be divested in order to rule out competition concerns in the Aussie state.

Read more: https://renewablesnow.com/news/aussie-regulator-imposes-condition-on-brookfields-neoen-takeover-873048/

-- Energy storage firm Verkor attracts EnerSys, ING as investors

Energy storage solutions provider Verkor said that it has received undisclosed equity investments from US industrial battery manufacturer EnerSys (NYSE:ENS) and Dutch banking and financial services firm ING Group (AMS:INGA) as the company seeks to expand production in Europe.

Read more: https://renewablesnow.com/news/energy-storage-firm-verkor-attracts-enersys-ing-as-investors-873095/

-- Polaris Renewable Energy to take over 26-MW wind farm in Puerto Rico

Polaris Renewable Energy Inc (TSX:PIF) has announced a USD-20-million (EUR 18.4m) agreement to acquire a controlling stake in a 26-MW operational wind farm in Puerto Rico owned by a unit of Banco Santander SA (BME:SAN).

Read more: https://renewablesnow.com/news/polaris-renewable-energy-to-take-over-26-mw-wind-farm-in-puerto-rico-873072/

-- Assan Aluminyum buys solar farm in Turkey under net-zero strategy

Turkish flat-rolled aluminium producer Assan Alaminyum announced the acquisition of a 10-MWp operational solar farm in south central Turkey as part of its strategy to reach net-zero carbon emissions by 2050.

Read more: https://renewablesnow.com/news/assan-aluminyum-buys-solar-farm-in-turkey-under-net-zero-strategy-873075/

-- Lightsource bp gets HASI equity injection for 288-MW Texas PV duo

Lightsource bp, the wholly-owned unit of BP Plc (LON:BP), has secured a structured equity investment from climate solutions investor HASI (NYSE:HASI) backing a 288-MW solar project portfolio in Texas.

Read more: https://renewablesnow.com/news/lightsource-bp-gets-hasi-equity-injection-for-288-mw-texas-pv-duo-873122/

-- Avantus sells 225-MW solar-storage project in Arizona to DESRI

US solar and energy storage developer Avantus has sold a 225-MW solar project, coupled with 250 MW/1,000 MWh of energy storage capacity, in Arizona to renewables developer-operator D. E. Shaw Renewable Investments (DESRI).

Read more: https://renewablesnow.com/news/avantus-sells-225-mw-solar-storage-project-in-arizona-to-desri-873200/

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