Professional M&A intelligence for the energy transition
TotalEnergies signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea. These two projects, N-9.1 (2 GW) and N-9.2 (2 GW), located 110 km off the German coast, were awarded to RWE in August 2024 and have 25-year licenses extendable to 35 years.
Brookfield Renewable agreed to acquire National Grid's US renewables business for $1.7 billion, including a portfolio of utility-scale solar, onshore wind, and battery storage assets across the U.S. with 1.8 GW in operation and another 1.3 GW under construction. The terms of the transaction imply an enterprise value for National Grid Renewables of $1.74 billion. […]
Ovintiv (NYSE: OVV) (TSX: OVV) completed its acquisition of all of the common shares of NuVista Energy Ltd. (TSX: NVA) in a cash and stock transaction valued at $2.7 billion. The acquisition is expected to add approximately 930 net 10,000-foot equivalent well locations, and approximately 140,000 net acres (approximately 70% undeveloped) in the core of […]
Antero Midstream agreed to acquire HG Energy II Midstream Holdings for $1.1 billion in cash, adding gathering and water infrastructure in the Marcellus Shale contiguous with its existing system. The assets include about 50 miles of gas gathering pipelines and 50 miles of water pipelines. In a related move, the company will divest its Ohio […]
Alphabet agreed to acquire Intersect Power, a developer of data-center and energy infrastructure, for $4.75 billion in cash plus the assumption of debt. The transaction includes Intersect's gigawatt-scale energy and data-center projects under development or construction and aims to accelerate power generation capacity to support Alphabet's growing U.S. data-center demand. Intersect Power will continue operating […]
TotalEnergies agreed to acquire a 50% stake in Energetický a průmyslový holding’s (EPH) flexible power generation platform in Western Europe in an all-stock transaction valued at €5.1 billion, implying an enterprise value of €10.6 billion. The deal will create a 50/50 joint venture covering more than 14 GW of gas-fired, biomass and battery power assets […]
Baker Hughes agreed to acquire Chart Industries through a merger in which a wholly owned subsidiary of Baker Hughes will merge with Chart, making Chart a wholly owned subsidiary. Under the terms of the agreement, Chart shareholders will receive $210 per share of common stock in cash. The purchase price represents an enterprise value of […]
Blackstone Infrastructure agreed to acquire TXNM Energy in an all-cash transaction valued at about $11.5 billion including net debt, offering $61.25 per share, a 23% premium to the company’s 30-day VWAP. The deal will support investment in electricity infrastructure through TXNM subsidiaries PNM and TNMP, and is expected to close in the second half of […]
Repsol and HitecVision's joint venture NEO NEXT Energy agreed to merge with TotalEnergies' U.K. upstream oil and gas business, forming a new company called NEO NEXT+. After completion, TotalEnergies will hold 47.5%, HitecVision 28.875%, and Repsol 23.625% of the combined entity, which is expected to become the largest independent oil and gas producer in the […]
NRG Energy completed the acquisition of a 13-GW power generation portfolio and the CPower commercial and industrial virtual power plant platform from LS Power in a transaction valued at about $12 billion. The deal includes 18 natural-gas-fired generation facilities and expands NRG's demand-response capabilities, doubling its generation fleet to roughly 25 GW.