Weekly renewables M&A round-up (Sept 11-15)

Renewables Now covered M&A stories about Chevron, Statkraft, Ørsted, and others in the past week. Below is the full list:

-- Adani, Kowa form green H2 marketing JV in Singapore

Adani Enterprises Ltd (BOM:512599), part of Indian conglomerate Adani Group, has joined forces with a unit of Japanese trading firm Kowa Co (TYO:7807) to operate on the green hydrogen market in Singapore.

Read more: https://renewablesnow.com/news/adani-kowa-form-green-h2-marketing-jv-in-singapore-833557/

-- Sumitomo, Advantage Capital set up 2-GW solar development biz in US

Japanese diversified group Sumitomo Corp (TYO:8053) on Monday said it has set up a US-based company with a local partner, seeking to develop renewable energy projects, starting with a 2-GW solar portfolio.

Read more: https://renewablesnow.com/news/sumitomo-advantage-capital-set-up-2-gw-solar-development-biz-in-us-833643/

-- Schaeffler invests EUR 65m in H2 Green Steel

German automotive supplier Schaeffler AG (ETR:SHA) is investing EUR 65 million (USD 69.7m) in Swedish startup H2 Green Steel as the two companies plan to intensify their existing partnership.

Read more: https://renewablesnow.com/news/schaeffler-invests-eur-65m-in-h2-green-steel-833664/

-- Chevron buys majority of huge hydrogen storage project in Utah

US energy giant Chevron (NYSE:CVX) has acquired a majority stake in the Advanced Clean Energy Storage (ACES) project, which is set to create the world’s largest industrial green hydrogen production and storage hub.

Read more: https://renewablesnow.com/news/chevron-buys-majority-of-huge-hydrogen-storage-project-in-utah-833750/

-- Atrato to pay GBP 77m for 34-MW UK rooftop solar portfolio

Atrato Onsite Energy plc (LON:ROOF) said on Wednesday it has agreed to acquire a 34-MW operational rooftop solar portfolio spread across England and Wales.

Read more: https://renewablesnow.com/news/atrato-to-pay-gbp-77m-for-34-mw-uk-rooftop-solar-portfolio-833745/

-- Statkraft buys out Brazilian subsidiary

Norwegian renewable power producer Statkraft AS announced it has taken full ownership of its Brazilian subsidiary Statkraft Energias Renovaveis (SKER) which operates about 450 MW of installed wind and hydropower capacity in the country.

Read more: https://renewablesnow.com/news/statkraft-buys-out-brazilian-subsidiary-833773/

-- Ørsted enters 740-MW solar project in UK

Ørsted A/S (CPH:ORSTED) is stepping into the UK solar market with an entry into a 740-MW solar project combined with battery storage.

Read more: https://renewablesnow.com/news/rsted-enters-740-mw-solar-project-in-uk-833783/

-- Samsung C&T selling 3-GW solar, storage project portfolio in Texas

The renewables arm of South Korea’s Samsung C&T Corp (KRX:028260) on Thursday unveiled a deal to offload a 3-GW portfolio of solar and energy storage projects under development in Texas to US-based Sunraycer Renewables.

Read more: https://renewablesnow.com/news/samsung-ct-selling-3-gw-solar-storage-project-portfolio-in-texas-833840/

-- Vesper Energy attracts USD-100m investment to grow portfolio

US utility-scale renewable energy assets developer Vesper Energy has secured USD 100 million (EUR 93.1m) in the form of an equity investment to support the growth of its portfolio of solar and energy storage projects.

Read more: https://renewablesnow.com/news/vesper-energy-attracts-usd-100m-investment-to-grow-portfolio-833866/

-- Urban Renewables readies fundraising to expand solar rooftop ops

Singapore-based Urban Renewables Pte Ltd is working on a new fundraising round to grow its solar rooftop portfolio at home, seeking to raise between SGD 100 million (USD 73.4m/EUR 68.4m) and SGD 125 million from financial and strategic investors.

Read more: https://renewablesnow.com/news/urban-renewables-readies-fundraising-to-expand-solar-rooftop-ops-833873/

-- Ardian takes over Italian renewables biz ICQ Holding

French private equity investor Ardian on Thursday announced its acquisition of Italian renewables platform ICQ Holding, gaining full control over its portfolio of 198 MW of assets and projects in development.

Read more: https://renewablesnow.com/news/ardian-takes-over-italian-renewables-biz-icq-holding-833914/

-- Actis close to buying 580-MW wind farm in Egypt - report

London-based sustainable infrastructure investor Actis is in the process of buying a 580-MW wind farm in Egypt’s Red Sea Governorate in a deal worth USD 350 million (EUR 325.6m), Daily News Egypt reports.

Read more: https://renewablesnow.com/news/actis-close-to-buying-580-mw-wind-farm-in-egypt-report-833924/

-- Brazil’s 2W Ecobank cleared to sell wind portfolio stake to WEG

Brazilian energy trader 2W Ecobank SA announced on Wednesday that the deal it struck with local electrical equipment manufacturer WEG SA (BVMF:WEGE3) for the sale of a minority stake in a 138.6-MW wind farm portfolio was approved.

Read more: https://renewablesnow.com/news/brazils-2w-ecobank-cleared-to-sell-wind-portfolio-stake-to-weg-834022/

-- Korkia forms JV in Chile to develop 500 MW of renewables

Finnish renewables investor Korkia on Friday said it has set up a joint venture with Chilean developer Ciudad Luz to develop 500 MW of projects in Chile over four years.

Read more: https://renewablesnow.com/news/korkia-forms-jv-in-chile-to-develop-500-mw-of-renewables-834051/

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