Professional M&A intelligence for the energy transition
Chevron completed the acquisition of all outstanding public common units of Noble Midstream Partners LP for $1.32 billion. The take-private transaction consolidated Chevron's gathering and processing assets in the DJ and Permian Basins.
EQT Active Core Infrastructure Fund and and the Public Sector Pension Investment Board completed its $3.0 billion take-private acquisition of Radius Global Infrastructure in March 2024. Radius owns critical telecommunications infrastructure including renewable energy land leases.
Energy Capital Partners completed its take-private acquisition of Atlantica Sustainable Infrastructure for $2.55 billion in December 2024. Atlantica owns and operates a 2.2 GW renewable energy and infrastructure portfolio across the Americas, EMEA, and South Africa.
Iberdrola completed its acquisition of the remaining 18.4% public stake in U.S. subsidiary Avangrid for $2.6 billion in December 2024, taking Avangrid private. The deal strengthened Iberdrola's commitment to the U.S. regulated utility business serving 3.3 million customers in New York and New England.
TPG acquired Altus Power, a commercial-scale solar energy provider, for approximately $2.2 billion in early 2025, taking the company private at $5.00 per share. As a result of the transaction, Altus Power is now a privately-held company. Moelis & Company is acting as financial advisor to Altus Power and Latham & Watkins LLP is acting […]
ALLETE completed its acquisition by a partnership led by CPP Investments and Global Infrastructure Partners, which purchased all outstanding shares of the company for $67 per share in cash, valuing the transaction at about $6.2 billion including debt. Under the terms of the merger agreement, CPP Investments and GIP acquired all the outstanding common shares […]
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 […]
EQT Transition Infrastructure, through the investment vehicle Box BidCo S.A.S., completed its acquisition of a 54.1% majority stake in French renewable gas producer Waga Energy SA for approximately €21.55 per share (~$600M). The investment accelerates Waga Energy's international growth, particularly in the U.S., as it scales renewable natural gas production.
Global Infrastructure Partners, a part of BlackRock, and the EQT Infrastructure VI fund, along with co-underwriters California Public Employees’ Retirement System (CalPERS) and Qatar Investment Authority (QIA), agreed to acquire AES Corporation (NYSE: AES) for $15.00 per share in cash. The deal represents a total equity value of $10.7 billion and an enterprise value of […]