Professional M&A intelligence for the energy transition
National Fuel Gas agreed to acquire the Ohio natural gas utility business of CenterPoint Energy for $2.62 billion. The business operates about 5,900 miles of pipelines and serves roughly 335,000 customers in Ohio, with the deal expected to close in the fourth quarter of 2026, subject to regulatory approvals. TD Securities (USA) LLC is serving […]
MDU Resources subsidiary Montana-Dakota Utilities signed a purchase agreement to acquire a 49% ownership interest (122.5 MW) in the Badger Wind Farm near Wishek, North Dakota. The acquisition was selected as the least-cost option for MDU customers in its 2024 Integrated Resource Plan, contingent on North Dakota PSC approval.
Ecopetrol concluded negotiations with Grenergy Renovables to potentially acquire seven companies holding solar photovoltaic projects in Colombia with a combined capacity of up to 88.2 MW. The projects are located in Córdoba, Cesar, Magdalena and Sucre, and the transaction remains subject to conditions precedent and legal requirements.
Asterion acquired a 50% stake in TotalEnergies' Greek renewables portfolio comprising 424 MW of operating and under-construction wind and solar assets, in a transaction valuing the portfolio at €508 million. TotalEnergies retains 50% and continues operating. The deal provides Asterion strategic entry into the Greek power market.
Plenitude, the renewables and retail energy unit of Eni, agreed to acquire 100% of Acea Energia from ACEA in a transaction valued at up to €587 million, including a 50% stake in Umbria Energy. The deal is expected to close by June 2026, subject to regulatory approvals, and will add more than 1.4 million retail […]
SM Energy completed its all-stock merger with Civitas Resources, creating a larger U.S. shale producer with an enterprise value of about $12.8 billion. Civitas shareholders received 1.45 SM Energy shares per share and now own about 52% of the combined company, which continues to operate under the SM Energy name.
American Water and Essential Utilities agreed to combine in an all-stock merger valued at about $63 billion enterprise value, creating the largest regulated water and wastewater utility in the United States. Essential shareholders will receive 0.305 American Water shares for each Essential share, and will own about 31% of the combined company, while American Water […]
Black Hills and NorthWestern Energy agreed to combine in an all-stock, tax-free merger that will create a regional regulated electric and natural gas utility with a pro forma market capitalization of about $7.8 billion and enterprise value of roughly $15.4 billion. Under the terms of the deal, NorthWestern shareholders will receive 0.98 Black Hills shares […]
Ardian agreed to acquire 100% of Energia Group from I Squared Capital. Energia operates across the entire energy value chain in Ireland and Northern Ireland, serving almost 900,000 homes and businesses. It is one of the longest established providers of renewable electricity in Ireland, supplying approximately 17% of the island of the country's total electricity […]
Sembcorp Industries Ltd. and Chow Tai Fook Enterprises Limited agreed to acquire 100% of Australia's energy retailer and generator Alinta Energy Pty Ltd. for an around A$6.5 billion. The acquisition will give Sembcorp a major platform in Australia's energy market, combining Alinta's generation and retail operations with Sembcorp's global renewables capabilities to accelerate clean energy […]