Weekly renewables M&A round-up (Sep 9-13)

Renewables Now covered M&A stories about Brookfield, Engie, Scatec, Sumitomo, and others this week. Below is the full list:

-- Renewables firm EEW gives SPAC merger another try

UK-based renewable energy developer EEW Renewables Ltd has entered into a definitive business combination agreement to merge with Compass Digital Acquisition Corp, a special purpose acquisition company (SPAC), taking another shot at going public.

Read more: https://renewablesnow.com/news/renewables-firm-eew-gives-spac-merger-another-try-868162/

-- Brazil's Aneel approves Auren's merger with AES Brasil

Brazil's power sector regulator Aneel has given the go-ahead to the planned merger between Auren Energia SA and AES Brasil Energia SA, thus paving the way for the creation of an 8.8-GW renewable energy platform.

Read more: https://renewablesnow.com/news/brazils-aneel-approves-aurens-merger-with-aes-brasil-868183/

-- Northvolt ditches plan for CAM giga-factory in Sweden, sells land

Swedish battery developer Northvolt AB has agreed to sell its industrial site in the municipality of Borlange, central Sweden, where it planned to repurpose the former Kvarnsveden paper mill and the surrounding area into a cathode active materials (CAM) factory.

Read more: https://renewablesnow.com/news/northvolt-ditches-plan-for-cam-giga-factory-in-sweden-sells-land-868208/

-- KGAL fund adds 60 MW of solar projects to portfolio

Independent investment and asset manager KGAL GmbH & Co KG said that its fund KGAL ESPF 5 has acquired two solar park projects in the German federal state of Sachsen-Anhalt with a combined capacity of 60 MW.

Read more: https://renewablesnow.com/news/kgal-fund-adds-60-mw-of-solar-projects-to-portfolio-868225/

-- OCI sheds global methanol business for USD 2bn

Netherlands-based hydrogen products company OCI Global has signed a deal to sell its entire Global Methanol Business, referred to as OCI Methanol, to Vancouver-based Methanex Corporation for USD 2.05 billion on a cash-free and debt-free basis.

Read more: https://renewablesnow.com/news/oci-sheds-global-methanol-business-for-usd-2bn-868246/

-- OX2 offloads 105 MW of Australian solar projects to European Energy

Swedish renewable energy developer OX2 AB said it has has sold two solar projects in Australia, totalling 137 MWp/105 MW AC, to Danish renewables developer European Energy A/S.

Read more: https://renewablesnow.com/news/ox2-offloads-105-mw-of-australian-solar-projects-to-european-energy-868262/

-- Portuguese regulator invites comments on Tokyo Gas' deal for Windplus

The Portuguese Competition Authority (AdC) announced that it has been notified of Tokyo Gas Co Ltd's deal to buy a minority stake in the 25-MW WindFloat Atlantic floating wind farm operating off the coast of Viana do Castelo municipality.

Read more: https://renewablesnow.com/news/portuguese-regulator-invites-comments-on-tokyo-gas-deal-for-windplus-868263/

-- Sol Systems snaps up 2 GW of solar-storage projects in US Midwest

US renewables firm Sol Systems has acquired a portfolio of 2 GW of utility-scale solar and storage projects across various states within the Midwest from local energy company Tenaska.

Read more: https://renewablesnow.com/news/sol-systems-snaps-up-2-gw-of-solar-storage-projects-in-us-midwest-868269/

-- AMS Renewable Energy buys solar construction firm Collective Solar

AMS Renewable Energy, a US engineering, procurement and construction (EPC) contractor for distributed solar and energy storage, has taken over for an undisclosed amount Oswego, New York-based distributed generation solar construction firm Collective Solar.

Read more: https://renewablesnow.com/news/ams-renewable-energy-buys-solar-construction-firm-collective-solar-868318/

-- Brookfield agrees to pour USD 1.1bn into Infinium's eFuels platform

Brookfield Asset Management has agreed on its first direct foray into sustainable aviation fuel (SAF) by committing to invest up to USD 1.1 billion into Infinium to advance the US electrofuels provider’s platform.

Read more: https://renewablesnow.com/news/brookfield-agrees-to-pour-usd-11bn-into-infiniums-efuels-platform-868338/

-- Elum Energy secures USD 13m to enter new markets

Elum Energy, a French company offering solutions for renewable energy assets’ optimisation, has closed a USD-13-million Series B financing found to fund its growth plans, including its entrance into new technological and geographic markets.

Read more: https://renewablesnow.com/news/elum-energy-secures-usd-13m-to-enter-new-markets-868344/

-- New Zealand's Contact Energy agrees USD-1.1bn takeover of Manawa

New Zealand-based utility Contact Energy Limited has agreed to acquire Manawa Energy Limited, a local renewables firm with an installed generation capacity of over 500 MW and a gigawatt-scale pipeline, at a total equity valuation of NZD 1.86 billion.

Read more: https://renewablesnow.com/news/new-zealands-contact-energy-agrees-usd-11bn-takeover-of-manawa-868378/

-- Tesvolt, Ocean Batteries form maritime energy storage JV

German battery storage systems maker Tesvolt GmbH said that it has merged its maritime solutions division with Norwegian firm Ocean Batteries, establishing a new entity focused on energy storage solutions for ships.

Read more: https://renewablesnow.com/news/tesvolt-ocean-batteries-form-maritime-energy-storage-jv-868400/

-- CKI, CKA get EU nod to buy UK wind farm assets from Aviva

The European Commission (EC) cleared an agreement reached by CK Infrastructure Holdings Ltd and CK Asset Holdings Ltd to acquire some of the onshore wind assets owned by British insurer Aviva Plc's asset-management arm in the UK.

Read more: https://renewablesnow.com/news/cki-cka-get-eu-nod-to-buy-uk-wind-farm-assets-from-aviva-868438/

-- Hydro increases stake in advanced battery materials firm Vianode

Norwegian aluminium and renewable energy company Norsk Hydro ASA said it has acquired an additional 20% stake in Oslo-based advanced battery materials company Vianode.

Read more: https://renewablesnow.com/news/hydro-increases-stake-in-advanced-battery-materials-firm-vianode-868449/

-- Encavis buys 18-MW wind project in Lower Saxony

German wind and solar parks operator Encavis AG said that it has purchased a ready-to-build wind project with a planned generation capacity of 18 MW in the German federal state of Lower Saxony, expanding its domestic wind portfolio to 311 MW.

Read more: https://renewablesnow.com/news/encavis-buys-18-mw-wind-project-in-lower-saxony-868470/

-- Battolyser Systems raises EUR 30m in Series A funding round

Battolyser Systems, the Dutch start-up that manufactures alkaline electrolysers with battery functionality, announced today the closing of a EUR-30-million Series A funding round, the proceeds from which should help the company scale its operations.

Read more: https://renewablesnow.com/news/battolyser-systems-raises-eur-30m-in-series-a-funding-round-868491/

-- Civic Renewables buys solar firm Florida Power Management

Civic Renewables, a renewable energy platform launched earlier this year, announced its third acquisition with the purchase of Florida Power Management (FPM), a solar energy company operating in Orlando and Tampa.

Read more: https://renewablesnow.com/news/civic-renewables-buys-solar-firm-florida-power-management-868505/

-- Eurowind acquires 55 MW of Portuguese solar projects

Danish renewables developer Eurowind Energy A/S has purchased a 55-MW solar portfolio in Portugal currently in the advanced development stages and being developed by local company Insun.

Read more: https://renewablesnow.com/news/eurowind-acquires-55-mw-of-portuguese-solar-projects-868515/

-- Engie attracts Ares as partner in 2.7-GW portfolio of US renewables

The North American arm of French power utility Engie SA has attracted a unit of Ares Management Corp as a minority partner in a portfolio of 2.7 GW of operational solar, wind and co-located storage assets across the US.

Read more: https://renewablesnow.com/news/engie-attracts-ares-as-partner-in-27-gw-portfolio-of-us-renewables-868556/

-- BPCL to form JVs for renewables, green H2 and biogas in India

Indian public sector undertaking Bharat Petroleum Corporation Ltd has signed agreements to form 50/50 joint ventures (JV) with two different companies, seeking to create vehicles that will develop, build and operate renewable energy projects, green hydrogen and biogas plants in India.

Read more: https://renewablesnow.com/news/bpcl-to-form-jvs-for-renewables-green-h2-and-biogas-in-india-868575/

-- VPI, Quantitas create 500-MW BESS partnership in Germany

VPI, a UK and Ireland-focused power company part of the Vitol Group, has agreed to partner with Oslo-based energy storage firm Quantitas Energy for the delivery of 500 MW/1 GWh of battery energy storage systems (BESS) across Germany.

Read more: https://renewablesnow.com/news/vpi-quantitas-create-500-mw-bess-partnership-in-germany-868577/

-- Scatec to exit Vietnam with sale of 39-MW wind farm to SUSI

Norwegian renewable power producer Scatec ASA has agreed to sell a 39-MW operational wind farm in Vietnam to a unit of Swiss fund manager SUSI Partners in a deal valued at up to EUR 40 million.

Read more: https://renewablesnow.com/news/scatec-to-exit-vietnam-with-sale-of-39-mw-wind-farm-to-susi-868578/

-- Eno Energy sells 18 MW wind farm to Stadtwerke Heidenheim

German firm Eno Energy GmbH has agreed to sell an 18-MW wind farm in the German federal state of Thuringia to municipal utility Stadtwerke Heidenheim as part of efforts to optimise its portfolio.

Read more: https://renewablesnow.com/news/eno-energy-sells-18-mw-wind-farm-to-stadtwerke-heidenheim-868583/

-- Sumitomo enters India's corporate renewable PPA market

Japanese trader Sumitomo Corp has established a partnership in India with local firm AMPIN Energy Transition Private Ltd to develop renewables and promote a corporate power purchase agreement (PPA) business in the country.

Read more: https://renewablesnow.com/news/sumitomo-enters-indias-corporate-renewable-ppa-market-868591/

-- Electrica acquires 77.5-MW solar project in Romania

Romanian utility Societatea Energetica Electrica SA, or Electrica, announced that it has completed the acquisition of a ready-to-build solar project in Romania with an authorised installed capacity of 77.525 MW.

Read more: https://renewablesnow.com/news/electrica-acquires-775-mw-solar-project-in-romania-868597/

-- APG closes USD-400m investment in Doral Renewables

Dutch pension investment company APG has completed its USD-400-million minority equity investment in Doral Renewables LLC to support the development and construction of the US renewable energy company’s pipeline.

Read more: https://renewablesnow.com/news/apg-closes-usd-400m-investment-in-doral-renewables-868605/

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