Renewables Now covered M&A stories about BP, EDF, Wirsol, Macquarie and others in the past week. Below is the full list:
— Japan’s Jera plans exit from Formosa 3 project off Taiwan – report
Japanese utility Jera Co Inc intends to offload its interest in the Formosa 3 offshore wind project in Taiwanese waters that it co-owns with Corio Generation, the Nikkei reports, pointing at concerns about growing construction costs and low profitability.
Read more: https://renewablesnow.com/news/japans-jera-plans-exit-from-formosa-3-project-off-taiwan-report-814295/
— Cloudberry to acquire 106 MW of wind power in Scandinavia
Nordic renewable energy company Cloudberry Clean Energy ASA said it had signed an agreement to take an 80% stake in a wind power portfolio mainly located in Denmark, increasing its capacity by 106 MW net, or some 311 GWh of generation.
Read more: https://renewablesnow.com/news/cloudberry-to-acquire-106-mw-of-wind-power-in-scandinavia-814306/
— MaxSolar adds 3.1 GW to PV projects pipeline
German solar developer MaxSolar GmbH announced it is adding to its network a 3.1-GW portfolio of photovoltaic (PV) projects from local peer SEAC Group.
Read more: https://renewablesnow.com/news/maxsolar-adds-31-gw-to-pv-projects-pipeline-814344/
— Sowitec selling 570 MW of Mexican solar, says market may perk up in 2024
German renewable energy developer Sowitec said it has signed agreements to sell three solar power projects with a combined capacity of 570 MW in Mexico.
Read more: https://renewablesnow.com/news/sowitec-selling-570-mw-of-mexican-solar-says-market-may-perk-up-in-2024-814378/
— Spain’s Grenergy seizes 100% stake in US developer Sofos Harbert
Spanish renewables company Grenergy Renovables SL said it has taken over US solar projects developer Sofos Harbert Renewable Energy after acquiring a 60% stake in the Birmingham, Alabama firm it did not already own.
Read more: https://renewablesnow.com/news/spains-grenergy-seizes-100-stake-in-us-developer-sofos-harbert-814444/
— Tilt Renewables buys half of 1.2-GW wind project in Queensland
Tilt Renewables has bought a 50% stake in the up to 1.2-GW Forest Wind project in Queensland, Australia, the Melbourne-based project developer announced without disclosing the size of its investment.
Read more: https://renewablesnow.com/news/tilt-renewables-buys-half-of-12-gw-wind-project-in-queensland-814465/
— Kleiner Perkins chair invests USD 10m in Complete Solaria
US residential solar company Complete Solaria Inc has received a USD-10-million strategic investment from an entity affiliated with the chairman of venture capital firm Kleiner Perkins, John Doerr.
Read more: https://renewablesnow.com/news/kleiner-perkins-chair-invests-usd-10m-in-complete-solaria-814490/
— CSP developer Vast agrees go-public merger with Nabors Energy
Australian concentrated solar power (CSP) specialist Vast Solar Pty Ltd has entered into an agreement to merge with a blank-check company in order to secure a listing on the New York Stock Exchange (NYSE) and raise up to USD 351 million in gross proceeds.
Read more: https://renewablesnow.com/news/csp-developer-vast-agrees-go-public-merger-with-nabors-energy-814561/
— Clearvise to buy 18.6-MW German wind expansion project from ABO
German independent power producer clearvise AG announced plans to acquire an 18.6-MW wind farm project in its home country from local renewables developer ABO Wind AG.
Read more: https://renewablesnow.com/news/clearvise-to-buy-186-mw-german-wind-expansion-project-from-abo-814585/
— Itochu signs Japanese PPA with Amazon, invests in US wind project
Itochu Corp unveiled two renewable energy deals related to the supply of power to tech giants, including a power purchase agreement (PPA) with Amazon in Japan, and an investment in a US wind project slated to power Meta.
Read more: https://renewablesnow.com/news/itochu-signs-japanese-ppa-with-amazon-invests-in-us-wind-project-814627/
— PPC Renewables buys 46-MW wind-solar portfolio in Greece
PPC Renewables, part of Greek power utility PPC SA, has finalised the acquisition of a 46-MW portfolio of wind and solar photovoltaic (PV) parks in its home country from Piraeus Equity Partners.
Read more: https://renewablesnow.com/news/ppc-renewables-buys-46-mw-wind-solar-portfolio-in-greece-814701/
— BP buys majority stake in 6-GW Korean offshore wind portfolio
Oil-and-gas multinational BP Plc has entered the South Korean offshore wind market by purchasing a 55% stake in Norway-based Deep Wind Offshore’s portfolio of projects in the Asian country.
Read more: https://renewablesnow.com/news/bp-buys-majority-stake-in-6-gw-korean-offshore-wind-portfolio-814702/
— EDF buys multi-gigawatt-scale floating wind project off NSW
EDF Renewables has acquired the Newcastle Offshore Wind (NOW) project in New South Wales, Australia, which is set to create a floating complex with a potential capacity of up to 10 GW.
Read more: https://renewablesnow.com/news/edf-buys-multi-gigawatt-scale-floating-wind-project-off-nsw-814705/
— Solar Integrated Roofing seeks takeover of AVCO Roofing
US photovoltaic (PV) and roofing systems installer Solar Integrated Roofing Corp is seeking to expand its national footprint through the acquisition of local sector player AVCO Roofing, a business associated with annual revenue of about USD 21 million.
Read more: https://renewablesnow.com/news/solar-integrated-roofing-seeks-takeover-of-avco-roofing-814706/
— TotalEnergies to join Corio in Taiwan’s Formosa 3 offshore wind JV
French energy major TotalEnergies SE said it will co-develop the Formosa 3 offshore wind project in Taiwanese waters through a joint venture (JV) with Corio Generation, the scheme’s majority owner.
Read more: https://renewablesnow.com/news/totalenergies-to-join-corio-in-taiwans-formosa-3-offshore-wind-jv-814711/
— EDPR cleared to acquire up-to-60-MW wind project in Portugal
Portugal’s Competition Authority (AdC) gave the green light to the purchase by EDP Renovaveis SA of the up-to-60-MW Morgavel wind project in Sines municipality.
Read more: https://renewablesnow.com/news/edpr-cleared-to-acquire-up-to-60-mw-wind-project-in-portugal-814714/
— Lightsource bp switches on 50 MW of UK solar to serve H&M
Lightsource bp, the UK-based solar developer half owned by BP Plc, announced the start-up of two solar projects totalling 50 MWp in the UK that will deliver their power to fashion retailer H&M under a multi-year contract signed in 2021.
Read more: https://renewablesnow.com/news/lightsource-bp-switches-on-50-mw-of-uk-solar-to-serve-hm-814724/
— Spain’s Enagas locked out of Dutch-UK gas link due to ROFR
Spanish grid operator Enagas SA has failed to acquire a minority stake in the 235-kilometre (146 miles) UK-Dutch gas interconnection, saying on Wednesday that the link’s current shareholders exercised their right of first refusal (ROFR).
Read more: https://renewablesnow.com/news/spains-enagas-locked-out-of-dutch-uk-gas-link-due-to-rofr-814727/
— Petronas green unit buys Australian renewables player Wirsol
Gentari Sdn Bhd, the clean energy platform of Malaysian state-owned oil and gas company Petronas, has acquired Wirsol Energy, the Australian renewable energy business of Germany’s Wircon GmbH, it was announced.
Read more: https://renewablesnow.com/news/petronas-green-unit-buys-australian-renewables-player-wirsol-814751/
— Macquarie pursuing sale of 450-MW solar portfolio in India – report
Macquarie Asset Management is looking to sell a 450-MW portfolio of solar projects in India in a deal with an equity value of some USD 250 million, The Mint reports.
Read more: https://renewablesnow.com/news/macquarie-pursuing-sale-of-450-mw-solar-portfolio-in-india-report-814836/
— TransAlta to buy half of 320-MW pumped hydro project in Alberta
Canadian power generator TransAlta Corp said it has agreed to acquire a 50% stake in an early-stage 320-MW pumped hydro energy storage project in southwestern Alberta.
Read more: https://renewablesnow.com/news/transalta-to-buy-half-of-320-mw-pumped-hydro-project-in-alberta-814846/
— Gore Street Energy to acquire 200-MW battery project in California
In its first investment in California, Gore Street Energy Storage Fund PLC has agreed to acquire the 200-MW/400-MWh Big Rock energy storage project in Imperial County.
Read more: https://renewablesnow.com/news/gore-street-energy-to-acquire-200-mw-battery-project-in-california-814874/
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