Weekly renewables M&A round-up (Oct 30-Nov 3)

Renewables Now covered M&A stories about Fortescue, Wartsila, Blackstone, Dominion and others in the past week. Below is the full list:

-- Fortescue buys 12.5% of green H2 developer Norwegian Hydrogen

Australian iron ore giant Fortescue Metals Group Ltd said it has poured close to NOK 100 million into Norwegian Hydrogen in return for a 12.5% ownership stake in the green hydrogen infrastructure developer.

Read more: https://renewablesnow.com/news/fortescue-buys-125-of-green-h2-developer-norwegian-hydrogen-838103/

-- Gentari, Dutch partner to invest in Indian green H2 platform

Gentari Sdn Bhd, the clean energy platform of Malaysian state-owned oil and gas company Petronas, has joined forces with Netherlands-based AM Green BV to invest in a green ammonia platform in India.

Read more: https://renewablesnow.com/news/gentari-dutch-partner-to-invest-in-indian-green-h2-platform-838106/

-- Octopus invests in Ireland, Portugal to develop 250 MW of solar sites

The generation arm of Octopus Energy has invested in two renewables developers in Ireland and Portugal that together plan to build 250 MW of solar projects on rooftops and business sites, the British company said.

Read more: https://renewablesnow.com/news/octopus-invests-in-ireland-portugal-to-develop-250-mw-of-solar-sites-838108/

-- Geothermal firm Subterra buys Earth Drilling Co, US affiliate

Canada-based Subterra Renewables unveiled the acquisition of Alberta-based drill rigs operator Earth Drilling Co Ltd, along with its US-based drilling and installation services provider Harris Exploration, in a drive to expand its coast-to-coast geothermal drilling capabilities.

Read more: https://renewablesnow.com/news/geothermal-firm-subterra-buys-earth-drilling-co-us-affiliate-838168/

-- Engie Brasil to acquire 545 MW of solar parks from Atlas

Power utility Engie Brasil Energia SA signed an agreement to acquire solar power plants in Brazil with a combined installed capacity of 545 MW from Atlas Renewable Energy.

Read more: https://renewablesnow.com/news/engie-brasil-to-acquire-545-mw-of-solar-parks-from-atlas-838186/

-- Polish oil refiner Orlen seeks to buy wind project developers

A Warsaw-based subsidiary of Polish oil refiner Orlen SA has applied to acquire two local wind project developers, the country’s antitrust regulator UOKiK announced.

Read more: https://renewablesnow.com/news/polish-oil-refiner-orlen-seeks-to-buy-wind-project-developers-838203/

-- Global corp funding for battery storage shrinks in Jan-Sep

Global corporate funding in the energy storage sector contracted by 31% on the year to USD 15.2 billion in the first nine months of 2023, while venture capital (VC) funding surged by 115% in annual terms in line with the expansion of the solar market.

Read more: https://renewablesnow.com/news/global-corp-funding-for-battery-storage-shrinks-in-jan-sep-838284/

-- Spain's EiDF inks LoI for potential investment in 79 MW of solar

Spanish solar energy installer EiDF said it has signed a letter of intent (LoI) with an investor to enter into talks about a potential financing of a 79.26-MW portfolio of solar photovoltaic projects in Spain.

Read more: https://renewablesnow.com/news/spains-eidf-inks-loi-for-potential-investment-in-79-mw-of-solar-838315/

-- Finland's Wartsila to consider divestment of energy storage business

Finnish technology group Wartsila Corp said it has commenced a strategic review of its energy storage and optimisation (ES&O) activities that could see it divest the business.

Read more: https://renewablesnow.com/news/finlands-wartsila-to-consider-divestment-of-energy-storage-business-838332/

-- I-RECs marketplace Redex closes Aramco-led funding round

Renewable Energy Certificate (REC) solutions provider Redex Group Pte Ltd announced it has secured USD 10 million to advance its push to expand beyond Asia.

Read more: https://renewablesnow.com/news/i-recs-marketplace-redex-closes-aramco-led-funding-round-838357/

-- Hive Energy offloads 267-MW Greek solar quartet to Juwi

UK renewables developer Hive Energy said it has finalised the divestment of a 267-MW portfolio of solar projects in Greece to the local subsidiary of German-based JUWI Group.

Read more: https://renewablesnow.com/news/hive-energy-offloads-267-mw-greek-solar-quartet-to-juwi-838488/

-- Helleniq Energy snaps up 26-MW solar bundle in Cyprus

Greek oil company Helleniq Energy Holdings SA has signed a binding deal to acquire 26 MW of solar park projects in Cyprus as part of its efforts to grow its renewable energy activities.

Read more: https://renewablesnow.com/news/helleniq-energy-snaps-up-26-mw-solar-bundle-in-cyprus-838489/

-- Ignitis wraps up deal for 300-MW Lithuanian onshore wind project

Lithuanian utility Ignitis Group announced it has completed the acquisition of an onshore wind project comprising two separate sites with an estimated capacity of up to 300 MW in western Lithuania.

Read more: https://renewablesnow.com/news/ignitis-wraps-up-deal-for-300-mw-lithuanian-onshore-wind-project-838504/

-- Asterion secures EU approval for Steag acquisition

Spanish investment firm Asterion Industrial Partners has received EU approval to acquire German energy company Steag GmbH as the EUR-2.6-billion transaction is not likely to impede competition.

Read more: https://renewablesnow.com/news/asterion-secures-eu-approval-for-steag-acquisition-838506/

-- Indian turbine maker Inox Wind's promoter cuts stake to 38.4%

The promoter of India’s Inox Wind Ltd has sold an 11.77% equity stake in the wind turbine manufacturer in order to raise funds to repay the ailing unit's external debt.

Read more: https://renewablesnow.com/news/indian-turbine-maker-inox-winds-promoter-cuts-stake-to-384-838531/

-- Cloudberry unit snaps up 210-MW hybrid project in Denmark

Nordic renewable energy company Cloudberry Clean Energy ASA said its majority-owned Odin Energy business is acquiring a 210-MW hybrid solar and wind project in Denmark from local partner Skovgaard Energy A/S.

Read more: https://renewablesnow.com/news/cloudberry-unit-snaps-up-210-mw-hybrid-project-in-denmark-838535/

-- Blackstone, Vista agree to buy software firm Energy Exemplar

Funds affiliated with investment giant Blackstone and private equity firm Vista Equity Partners have sealed an agreement to acquire Australian energy modelling software company Energy Exemplar in a deal aimed at accelerating growth and further expanding its platform.

Read more: https://renewablesnow.com/news/blackstone-vista-agree-to-buy-software-firm-energy-exemplar-838547/

-- Iberdrola finalises sale of Baltic Eagle minority to Masdar

Spanish utility Iberdrola SA has closed the sale of a 49% stake in the 476-MW Baltic Eagle offshore wind project in the German portion of the Baltic Sea to Abu Dhabi Future Energy Company PJSC, better known as Masdar.

Read more: https://renewablesnow.com/news/iberdrola-finalises-sale-of-baltic-eagle-minority-to-masdar-838694/

-- Foresight fund invests in pumped-storage hydro project in Ireland

UK-based energy transition fund Foresight Energy Infrastructure Partners (FEIP) announced that it has invested in the development of the 360-MW Silvermines pumped-storage hydro project in County Tipperary, Ireland, acquiring an equity stake.

Read more: https://renewablesnow.com/news/foresight-fund-invests-in-pumped-storage-hydro-project-in-ireland-838696/

-- Green ammonia systems developer Talus obtains USD 22m

US green ammonia systems supplier Talus Renewables has raised USD 22 million in a Series A funding round co-led by Material Impact and Temasek’s Xora Innovation.

Read more: https://renewablesnow.com/news/green-ammonia-systems-developer-talus-obtains-usd-22m-838719/

-- Engie to buy 76.8 MW of wind power assets in Peru

Peruvian power producer Engie Energia Peru SA said that it has signed an agreement to acquire companies that own 76.8 MW of wind power assets in the Andean country.

Read more: https://renewablesnow.com/news/engie-to-buy-768-mw-of-wind-power-assets-in-peru-838720/

-- CleanChoice steps up solar strategy with 25-MWp purchase

Clean energy provider CleanChoice Energy said it has acquired a 25.2-MWp solar park project in Pennsylvania as part of its goal to develop its own portfolio of photovoltaic (PV) plants.

Read more: https://renewablesnow.com/news/cleanchoice-steps-up-solar-strategy-with-25-mwp-purchase-838752/

-- Dominion's CVOW attracts considerable interest, company says

US utility Dominion Energy Inc said it is in the advanced stages of the previously-announced process to scout for potential co-investors in its Coastal Virginia Offshore Wind (CVOW) project, which, it further noted, has “driven considerable interest.”

Read more: https://renewablesnow.com/news/dominions-cvow-attracts-considerable-interest-company-says-838830/

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