Weekly renewables M&A round-up (Sept 16-20)

Renewables Now covered M&A stories about Eni, BP, SunPower, BlackRock, KKR, and others this week. Below is the full list:

-- Italy's Eni seeking to sell more of Plenitude's shares - report

Italian oil and gas major Eni SpA is holding talks to offload an additional stake in its renewables arm Plenitude, aiming to attract specialised investors to propel the platform’s future growth, Reuters reports.

Read more: https://renewablesnow.com/news/italys-eni-seeking-to-sell-more-of-plenitudes-shares-report-868663/

-- GE Vernova, Lizard form JV to deliver over 1 GW of renewables in Italy

US energy equipment manufacturer GE Vernova Inc announced that its Financial Services business formed a 50/50 joint venture (JV) with Italian renewables company Lizard Renewables SpA to develop over 1 GW of wind, solar and battery energy storage projects in Italy.

Read more: https://renewablesnow.com/news/ge-vernova-lizard-form-jv-to-deliver-over-1-gw-of-renewables-in-italy-868674/

-- Aukera buys 46-MW solar-storage project in Germany

Belgium-based renewables investor and developer Aukera Energy has acquired a 46-MW solar project, coupled with a battery energy storage system (BESS) of 40 MW, in the southwest German state of Rhineland-Palatinate.

Read more: https://renewablesnow.com/news/aukera-buys-46-mw-solar-storage-project-in-germany-868698/

-- Centrica to buy 100-MW-plus shovel-ready BESS projects in Sweden

UK energy company Centrica plc said that it has reached an agreement with Swiss renewables developer Fu-Gen AG to acquire up to nine battery energy storage system (BESS) projects in Sweden with a total capacity of over 100 MW.

Read more: https://renewablesnow.com/news/centrica-to-buy-100-mw-plus-shovel-ready-bess-projects-in-sweden-868722/

-- Rovco, Vaarst unite under new name

Rovco and Vaarst, two sister companies active in the offshore wind industry, announced they are merging under a new brand, Beam, to support future technological ambitions.

Read more: https://renewablesnow.com/news/rovco-vaarst-unite-under-new-name-868730/

-- Kibo Energy seeks to buy 20-GW renewables pipeline in Europe, Africa

Kibo Energy PLC has signed a binding term sheet to acquire from Swiss company ESGTI AG a diverse portfolio of wind, solar and agri-photovoltaic projects across Europe and Africa that is targeted to reach 20 GW of generation capacity within six years.

Read more: https://renewablesnow.com/news/kibo-energy-seeks-to-buy-20-gw-renewables-pipeline-in-europe-africa-868759/

-- BP to offload US onshore wind business

BP Plc plans to dispose of its US onshore wind business, BP Wind Energy, as the oil and gas major is simplifying its portfolio and focusing on value.

Read more: https://renewablesnow.com/news/bp-to-offload-us-onshore-wind-business-868816/

-- Complete Solar wins bid for SunPower’s Chapter 11-covered assets

Solar technology provider and installer Complete Solar Holdings Inc is the prevailing bidder for part of the assets of SunPower, the US residential solar company that recently filed for Chapter 11 bankruptcy protection.

Read more: https://renewablesnow.com/news/complete-solar-wins-bid-for-sunpowers-chapter-11-covered-assets-868822/

-- Proxy advisers back Iberdrola’s agreed buyout of Avangrid

Two independent proxy firms have recommended that shareholders of Avangrid Inc vote in support of the US energy services and delivery company’s agreed USD-2.55-billion buyout by its largest shareholder, Spanish utility Iberdrola SA.

Read more: https://renewablesnow.com/news/proxy-advisers-back-iberdrolas-agreed-buyout-of-avangrid-868856/

-- Repsol hit with lawsuit over Hecate Energy deal in US - report

Hecate Holdings LLC has hit Repsol SA with a lawsuit to force it to complete the acquisition of the remaining 60% stake in US solar and storage developer Hecate Energy Group LLC, Spanish business daily newspaper El Economista reported.

Read more: https://renewablesnow.com/news/repsol-hit-with-lawsuit-over-hecate-energy-deal-in-us-report-868858/

-- Thrive buys rights to CfD-backed wind project in South Wales

Bristol-based renewable energy investor Thrive Renewables has acquired the development rights to build a 13.5-MW onshore wind farm in Rhondda Cynon Taf, South Wales from REG Power Management (RPM).

Read more: https://renewablesnow.com/news/thrive-buys-rights-to-cfd-backed-wind-project-in-south-wales-868859/

-- On.Energy snaps up 480-MWh battery project portfolio in California

US battery energy storage developer and independent power producer (IPP) On.Energy has taken possession of a portfolio of battery energy storage systems (BESS) in California with a combined capacity of 480 MWh.

Read more: https://renewablesnow.com/news/onenergy-snaps-up-480-mwh-battery-project-portfolio-in-california-868911/

-- Eurowind, Wind Estate set up EUR-400m wind JV in Denmark

Danish renewables developer-operator Eurowind Energy A/S and its compatriot Wind Estate have set up a new company which will operate 186.3 MW of wind parks in their home country.

Read more: https://renewablesnow.com/news/eurowind-wind-estate-set-up-eur-400m-wind-jv-in-denmark-868940/

-- NextEnergy Capital fund to buy 110 MWp of Spanish solar from ib vogt

German solar developer ib vogt GmbH has agreed to sell its 110-MWp Pato solar project in Spain to a fund managed by NextEnergy Capital, both companies announced.

Read more: https://renewablesnow.com/news/nextenergy-capital-fund-to-buy-110-mwp-of-spanish-solar-from-ib-vogt-868954/

-- Japan's Eneos joins 75-MW Norwegian floating offshore wind project

Japan's Eneos Renewable Energy Corp (ERE) has entered into an agreement to acquire a 20% stake in the 75-MW GoliatVIND floating offshore wind farm project on the border between the northern Norwegian Sea and the Barents Sea.

Read more: https://renewablesnow.com/news/japans-eneos-joins-75-mw-norwegian-floating-offshore-wind-project-868957/

-- Indian govt to offload 7% stake in renewables lender IREDA

The Indian government plans to sell an up to 7% stake in the Indian Renewable Energy Development Agency, or IREDA, in a deal that will enable the renewable energy lender to strengthen its capital base and fund more projects.

Read more: https://renewablesnow.com/news/indian-govt-to-offload-7-stake-in-renewables-lender-ireda-869064/

-- ArcelorMittal buys majority stake in Brazilian solar holding

Brazil's competition regulator, CADE, has approved the acquisition by steel producer ArcelorMittal of all stakes local renewable energy developer Casa dos Ventos holds in a solar power holding.

Read more: https://renewablesnow.com/news/arcelormittal-buys-majority-stake-in-brazilian-solar-holding-869071/

-- Vistra agrees USD 3.25bn buyout of zero-carbon energy unit

US retail electricity and power generation company Vistra Corp has agreed to acquire the remaining 15% stake in its subsidiary that houses its zero-carbon nuclear, energy storage and solar generation assets as well as its retail business, for an undiscounted purchase price of USD 3.248 billion.

Read more: https://renewablesnow.com/news/vistra-agrees-usd-325bn-buyout-of-zero-carbon-energy-unit-869095/

-- Arise to sell 40-MW BESS project in Sweden for up to EUR 4m

Swedish renewables developer Arise AB has agreed to sell the rights to a 40-MW/80-MWh ready-to-build battery energy storage system (BESS) project at home to Flower Infrastructure Technologies AB.

Read more: https://renewablesnow.com/news/arise-to-sell-40-mw-bess-project-in-sweden-for-up-to-eur-4m-869098/

-- Spain approves BlackRock's bid for GIP, impacting Naturgy - report

The Spanish government on Tuesday approved BlackRock Inc’s bid to acquire Global Infrastructure Partners (GIP), paving the way for the US asset management giant to take GIP’s place as a significant shareholder of Naturgy Energy Group SA.

Read more: https://renewablesnow.com/news/spain-approves-blackrocks-bid-for-gip-impacting-naturgy-report-869113/

-- Sonnedix buys 80-MW solar farm in Italy, more purchases to follow

Sonnedix Power Holdings Ltd announced that it has acquired an 80-MW solar farm in Sicily from Italian renewables developer Blunova SpA as part of their broader deal involving the sale of 250 MW of operational capacity located in southern Italy.

Read more: https://renewablesnow.com/news/sonnedix-buys-80-mw-solar-farm-in-italy-more-purchases-to-follow-869126/

-- KKR fund increases tender offer price for Greenvolt

A fund owned by US private equity firm KKR & Co has slightly increased the price in the tender offer for Portuguese renewable energy company Greenvolt - Energias Renovaveis SA at the request of the Portuguese Securities Market Commission (CMVM), the target company announced in a recent filing.

Read more: https://renewablesnow.com/news/kkr-fund-increases-tender-offer-price-for-greenvolt-869152/

-- Alternus scraps deal for 80-MWp solar project purchase in US

US solar developer, installer and power producer Alternus Clean Energy Inc will not proceed with a proposed deal involving the acquisition of a 80-MWp portfolio of solar parks across eight US states.

Read more: https://renewablesnow.com/news/alternus-scraps-deal-for-80-mwp-solar-project-purchase-in-us-869175/

-- Japan's MOL invests in HIF Global, joins e-fuels value chain alliance

Japanese shipping company Mitsui O.S.K. Lines Ltd has invested in e-fuels developer HIF Global to finance the expansion of its e-fuels projects and collaborate on establishing a value chain for the synthetic fuels and carbon dioxide.

Read more: https://renewablesnow.com/news/japans-mol-invests-in-hif-global-joins-e-fuels-value-chain-alliance-869191/

-- French PV manufacturer Carbon sets sights on compatriot Photowatt

French solar product maker Carbon has signed a draft agreement to acquire domestic sector player Photowatt to support its ambitions to become a gigawatt-scale producer of photovoltaic (PV) cells, wafers and modules.

Read more: https://renewablesnow.com/news/french-pv-manufacturer-carbon-sets-sights-on-compatriot-photowatt-869205/

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