Weekly renewables M&A round-up (Jan 24-28)

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January 28 (Renewables Now) - Renewables Now covered M&A stories about A2A, Ardian, Engie, Credit Agricole, Siemens Gamesa and others in the past week. Below is the full list:

-- German renewables developer Green City to file for insolvency

German renewables developer Green City AG is set to file for insolvency as talks with investors on the financing of its restructuring measures were not successful.

Read more: https://renewablesnow.com/news/german-renewables-developer-green-city-to-file-for-insolvency-770355/

-- Alpha Real Capital buys 61.5-MW solar portfolio in UK

London-based real assets investor Alpha Real Capital LLP announced it has acquired an GBP-86-million solar portfolio company Innova Energy in the UK.

Read more: https://renewablesnow.com/news/alpha-real-capital-buys-615-mw-solar-portfolio-in-uk-770358/

-- Masdar, Mitrabara JV to target Indonesia’s C&I solar market

Abu Dhabi’s renewable energy company Masdar and Indonesian energy group PT Mitrabara Adiperdana Tbk have set up a joint venture that will focus on commercial & industrial (C&I) renewable energy projects in Indonesia.

Read more: https://renewablesnow.com/news/masdar-mitrabara-jv-to-target-indonesias-ci-solar-market-770367/

-- Thailand's Banpu to buy 50 MW of solar parks in Vietnam

Thai energy company Banpu PCL (BKK:BANPU) said it has agreed to acquire the companies holding a 50-MW portfolio of two solar parks in Vietnam in a deal worth USD 26.7 million.

Read more: https://renewablesnow.com/news/thailands-banpu-to-buy-50-mw-of-solar-parks-in-vietnam-770460/

-- NV Energy cleared to buy over 1 GW of solar, storage projects in Nevada

Nevada utility NV Energy has obtained regulatory approval in its home state to buy 600 MW of solar projects with 480 MW of battery storage capacity from Primergy Solar LLC.

Read more: https://renewablesnow.com/news/nv-energy-cleared-to-buy-over-1-gw-of-solar-storage-projects-in-nevada-770475/

-- Germany's Enercon sells 34.5 MW wind park in Romania to Premier Energy

German wind turbine manufacturer Enercon has sold an operational 34.5 MW wind park in Romania to Cyprus-based natural gas provider and distributor Premier Energy, law firm Wolf Theiss said.

Read more: https://renewablesnow.com/news/germanys-enercon-sells-345mw-wind-park-in-romania-to-premier-energy-770555/

-- Solar Philippines’ SPNEC looking to develop 10 GW

Solar Philippines Nueva Ecija Corporation (PSE:SPNEC), the recently listed subsidiary of solar developer Solar Philippines, shared plans for asset-for-share swaps with its parent to enable SPNEC to develop 10 GW of solar projects.

Read more: https://renewablesnow.com/news/solar-philippines-spnec-looking-to-develop-10-gw-770611/

-- Green Arrow Capital buys 508 MW of solar projects in Spain

Italian alternative investment manager Green Arrow Capital SGR (GAC) said it is acquiring some 508 MW worth of ready-to-build solar PV projects in Spain through a new fund.

Read more: https://renewablesnow.com/news/green-arrow-capital-buys-508-mw-of-solar-projects-in-spain-770642/

-- Greenbacker Capital invests in solar project developer Noria Energy

Sustainable infrastructure investor Greenbacker Capital Management LLC has set foot in the floating solar photovoltaic (PV) market by making an equity investment in California-based solar developer Noria Energy.

Read more: https://renewablesnow.com/news/greenbacker-capital-invests-in-solar-project-developer-noria-energy-770666/

-- A2A to get 352 MW more solar, wind under deal with Ardian

Italian utility A2A SpA (BIT:A2A) has struck binding deals to buy 352 MW of wind and solar power capacity in Spain and Italy from Paris-based investment house Ardian for a combined equity value of EUR 452 million.

Read more: https://renewablesnow.com/news/a2a-to-get-352-mw-more-solar-wind-under-deal-with-ardian-770671/

-- Masdar, W Solar set up JV to develop 8-GW-plus renewables pipeline

Abu Dhabi’s renewable energy company Masdar and solar investment company W Solar Investment have set up a joint venture to develop renewable energy projects with a focus on Africa and the region of the Commonwealth of Independent States.

Read more: https://renewablesnow.com/news/masdar-w-solar-set-up-jv-to-develop-8-gw-plus-renewables-pipeline-770707/

-- OEG buys Manor Renewable Energy in boost to offshore wind ops

UK equipment and services firm OEG Offshore Ltd has significantly expanded its offering to the global offshore wind industry with the acquisition of domestic engineering and fleet provider Manor Renewable Energy (MRE).

Read more: https://renewablesnow.com/news/oeg-buys-manor-renewable-energy-in-boost-to-offshore-wind-ops-770723/

-- Downing Renewables expands Swedish hydro portfolio with two deals

Downing Renewables and Infrastructure Trust Plc (LON:DORE) is spending around EUR 25 million to acquire two operational hydropower portfolios in Sweden, increasing to 157 GWh its annual average production in the Nordic country.

Read more: https://renewablesnow.com/news/downing-renewables-expands-swedish-hydro-portfolio-with-two-deals-770730/

-- Engie, Credit Agricole get EU nod to buy Spain's Eolia Renovables

The European Commission (EC) announced it has unconditionally approved the joint acquisition of Spanish solar and wind developer Eolia Renovables by French utility Engie's (EPA:ENGI) Spanish arm and lender Credit Agricole's (EPA:ACA) unit Predica.

Read more: https://renewablesnow.com/news/engie-credit-agricole-get-eu-nod-to-buy-spains-eolia-renovables-770793/

-- Photosol, Aedes Energies to co-develop 200 MWp of French solar projects

French solar project developer and power producer Photosol SAS has set up a joint venture (JV) with compatriot Aedes Energies to develop over 200 MWp of photovoltaic (PV) schemes at home.

Read more: https://renewablesnow.com/news/photosol-aedes-energies-to-co-develop-200-mwp-of-french-solar-projects-770816/

-- Brookfield Renewable to triple US pipeline with USD-650m Urban Grid buy

Brookfield Renewable (NYSE:BEP, BEPC; TSX:BEP.UN), the renewables arm of Canada's Brookfield Asset Management (NYSE:BAM), has acquired US solar-plus-storage developer Urban Grid for USD 650 million, thus increasing threefold to 31 GW its pipeline of US projects.

Read more: https://renewablesnow.com/news/brookfield-renewable-to-triple-us-pipeline-with-usd-650m-urban-grid-buy-770847/

-- Singapore's GIC invests in Aussie green fuels co InterContinental Energy

Singapore’s sovereign wealth fund GIC has bought an unspecified equity stake in Australian green hydrogen project developer InterContinental Energy, which has a global portfolio totalling 200 GW.

Read more: https://renewablesnow.com/news/singapores-gic-invests-in-aussie-green-fuels-co-intercontinental-energy-770861/

-- Global corp funding for battery storage surges to USD 17bn n 2021

Battery storage companies across the world have secured USD 17 billion in total corporate funding last year, registering a 159% surge in annual terms, according to a new report by Mercom Capital Group.

Read more: https://renewablesnow.com/news/global-corp-funding-for-battery-storage-surges-to-usd-17bn-n-2021-770890/

-- Russia's Unigreen buys stake in 48-MW wind project in Kazakhstan

Moscow-based vertically integrated renewables company Unigreen Energy announced it has made its debut in the wind generation market with an acquisition of a 70% stake in a 48-MW wind power project in Kazakhstan.

Read more: https://renewablesnow.com/news/russias-unigreen-buys-stake-in-48-mw-wind-project-in-kazakhstan-770932/

-- ReNew Power divests Indian rooftop solar portfolio in USD-90m deal

India’s ReNew Power, held by ReNew Energy Global Plc (NASDAQ:RNW), said it has sold a 117-MW/138-MWp distributed rooftop solar portfolio at home to Fourth Partner Energy for INR 6.72 billion.

Read more: https://renewablesnow.com/news/renew-power-divests-indian-rooftop-solar-portfolio-in-usd-90m-deal-770972/

-- HydrogenPro eyes electrolyser production JV with L&T in India

HydrogenPro AS (OSE:HYPRO) has signed a memorandum of understanding (MoU) with Indian engineering conglomerate Larsen & Toubro (NSE:LT) to explore the potential formation of a joint venture that would make green hydrogen electrolysers in India.

Read more: https://renewablesnow.com/news/hydrogenpro-eyes-electrolyser-production-jv-with-lt-in-india-770977/

-- Novonix plans USD-25m investment in battery cells maker Kore Power

Australian advanced battery materials company Novonix Ltd (ASX:NVX) announced a letter of intent with US battery cell technology developer Kore Power Inc that envisages an equity investment and is expected to beef up the battery supply chain in North America for both electric vehicles (EVs) and energy storage systems.

Read more: https://renewablesnow.com/news/novonix-plans-usd-25m-investment-in-battery-cells-maker-kore-power-770983/

-- Siemens Energy mulls all-stock SGRE buyout - report

Siemens Energy AG (ETR:ENR) is considering alternatives to take full control of majority-owned wind turbine maker Siemens Gamesa Renewable Energy SA (BME:SGRE), Reuters reports, quoting sources.

Read more: https://renewablesnow.com/news/siemens-energy-mulls-all-stock-sgre-buyout-report-771000/

-- Renova accepts AES offer to buy 305-MW wind project in Brazil

Brazilian renewables developer Renova Energia SA (BVMF:RNEW11) has accepted a proposal by a unit of AES Corp (NYSE:AES) to acquire a 305-MW portion of its 620-MW Cordilheira dos Ventos wind project.

Read more: https://renewablesnow.com/news/renova-accepts-aes-offer-to-buy-305-mw-wind-project-in-brazil-771045/

-- Wooden wind tower maker Modvion gets EU money for 1st factory

Modvion AB, a Swedish designer of wooden wind turbine towers, said it has received EUR 1.5 million in funding from a quasi-equity investment fund of the European Commission (EC).

Read more: https://renewablesnow.com/news/wooden-wind-tower-maker-modvion-gets-eu-money-for-1st-factory-771052/

-- EDPR completes sale of 221-MW wind portfolio in Portugal

Portuguese utility Energias de Portugal SA (ELI:EDP), through its renewables unit, has finalised the divestment of a 221-MW Portuguese wind portfolio to Onex Renewables Sarl.

Read more: https://renewablesnow.com/news/edpr-completes-sale-of-221-mw-wind-portfolio-in-portugal-771067/

-- UK fund JLEN Environmental eyes new projects after GBP 61m equity raising

JLEN Environmental Assets Group Ltd (LON:JLEN) has closed an oversubscribed share issuance, securing GBP 60.7 million to repay debt and to fund a pipeline of potential environmental infrastructure projects to support the energy transition.

Read more: https://renewablesnow.com/news/uk-fund-jlen-environmental-eyes-new-projects-after-gbp-61m-equity-raising-771083/

-- Nordic Solar eyes up to USD 150m in fresh capital in 2022

Danish company Nordic Solar A/S, a developer and operator of solar power plants, expects to raise up to DKK 1 billion this year to support existing and future projects.

Read more: https://renewablesnow.com/news/nordic-solar-eyes-up-to-usd-150m-in-fresh-capital-in-2022-771162/

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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