Professional M&A intelligence for the energy transition
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.
ConocoPhillips agreed to sell its interests in the Ursa and Europa fields and its stake in Ursa Oil Pipeline to subsidiaries of Shell for $735 million, as part of its strategy to divest non-core assets. The deal includes a 15.96% interest in the Ursa field, a 1% interest in the Europa field, and an overriding […]
TotalEnergies signed an agreement to acquire the 25% interest held by Moeve (formerly CEPSA) in Block 53 offshore Suriname, joining APA (45%, operator) and Petronas (30%). Block 53 lies directly east of Block 58 where the GranMorgu development FID was taken in October 2024. The acquisition adds new resources to TotalEnergies' low-cost, low-emission GranMorgu project.
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.
Ecopetrol completed the acquisition of companies holding solar projects totaling about 0.6 GW in Colombia from subsidiaries of Statkraft for $157.5 million, advancing its renewable energy and decarbonization strategy. The broader agreement also includes potential purchases of additional wind project entities subject to regulatory approvals.
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.
Stonepeak agreed to acquire a 43.8% stake in Repsol's 629-MW Outpost solar project in Texas for $252.5 million (€220 million). The transaction values the asset at about $775 million and supports Repsol's strategy to rotate renewable assets and bring in strategic partners in the U.S. market. he transaction is expected to close in the coming […]
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 […]
Entergy completed the sale of its natural gas distribution business to Delta Utilities, a company backed by Bernhard Capital Partners. The divestiture supports Entergy's strategic focus on its growing electric utility business. Delta Utilities assumes responsibility for day-to-day gas distribution operations. The assets include approximately 3,700 miles of natural gas pipelines and 2,200 miles 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.