Professional M&A intelligence for the energy transition
Iberdrola formed a joint venture with Kansai Electric Power on the 315 MW Windanker offshore wind project in the German Baltic Sea, with Kansai acquiring a 49% stake.
JERA Co., Japan's largest power generator and a joint venture between Tokyo Electric Power Company and Chubu Electric Power, acquired approximately 27% of the outstanding shares of Aboitiz Power, a major power utility in the Philippines.
Hawaiian Electric Industries (NYSE - HE), the parent company of Pacific Current, announced the closing of the sale of Pacific Current's 60-megawatt Hamakua Energy Plant on Hawai'i Island to a subsidiary of Harbert Management Corp.
Tokyo Gas America Ltd., a subsidiary of Tokyo Gas, decided to acquire all shares of Rockcliff Energy II, a portfolio company of Quantum Energy Partners, through its ownership interest in TG Natural Resources.
Ithaca Energy plc completed the acquisition of JAPEX UK E&P Limited from Japan Petroleum Exploration Co., Ltd. (JAPEX) for approximately $193 million in cash. The deal added non-operated interests in the Seagull and other UK North Sea fields, complementing Ithaca's existing UKCS portfolio.
Marathon Petroleum completed its $21 billion divestiture of Speedway convenience store and fuel retail business to 7-Eleven, a subsidiary of Japan's Seven & i Holdings Co., Ltd. (3382: Tokyo). The deal made 7-Eleven the largest U.S. convenience retailer.
Sunoco LP completed the divestiture of approximately 200 convenience store properties as part of its strategy to focus on fuel distribution and pipelines. 7-Eleven acquired over 200 stores, including Stripes convenience stores and Laredo Taco Company restaurants. Located across West Texas, New Mexico and Oklahoma, these stores will join the over 13,000 7-Eleven, Speedway and Stripes locations that 7-Eleven operates, […]
Tokyo Gas, through its U.S. subsidiary TG Natural Resources, acquired Quantum Energy Partners-backed Rockcliff Energy II for $2.7 billion in cash in January 2024. The deal added approximately 109,000 net acres in the Haynesville Shale. The transaction was the largest U.S. natural gas-focused upstream deal of 2023 and reflected Japanese utility interest in securing equity […]
Energy Vault Holdings said it has entered into a binding agreement to acquire an 850-megawatt battery energy storage system (BESS) portfolio in Japan, marking its entry into one of the fastest-growing global storage markets. The portfolio includes 350 MW of advanced-stage projects targeted to begin construction in the second half of 2027, with commercial operations […]
Verdad Resources completed the sale of its operated oil and gas portfolio to Peoria Resources, a subsidiary of JAPEX (U.S.) Corp. in a transaction valued at about $1.26 billion. The deal includes Verdad's exploration and production assets in the Denver-Julesburg Basin, comprising roughly 101,000 net acres across Colorado and Wyoming focused on the Niobrara and […]