Professional M&A intelligence for the energy transition
Reliance New Energy Solar Limited (RNESL), a subsidiary of Reliance Industries, completed the acquisition of REC Solar Holdings AS from China National Bluestar (Group) Co. for $771 million enterprise value. REC Solar is one of the world's leading solar cell, panel, and polysilicon manufacturing companies, with industry-leading heterojunction (HJT) cell technology and 25 years of […]
Apollo Global Management (NYSE: APO) announced that certain funds managed by its affiliates made a structured investment in US Wind, an offshore wind energy development company. The fund is investing up to $265 million through convertible debt and equity to acquire an equity stake in Baltimore, Maryland-based US Wind. The investment will fund development and […]
BlackRock Alternatives completed the acquisition of Jupiter Power from EnCap Energy Transition for an undisclosed amount.
Kinder Morgan completed the acquisition of STX Midstream from NextEra Energy Partners for $1.82 billion. STX Midstream owns approximately 462 miles of natural gas pipelines including the Eagle Ford Express system and the Carrizo Pipeline serving Eagle Ford, South Texas, and Mexican demand markets.
Williams Companies acquired NorTex Midstream, a natural gas pipeline and storage asset located in north Texas, from an affiliate of Tailwater Capital for $423 million. NorTex owns three natural gas storage facilities in North Texas with combined working gas capacity of 36 Bcf and approximately 80 miles of pipelines.
ProFrac Holding completed the acquisition of U.S. Well Services in a stock-and-cash transaction valued at approximately $316 million.
Engie completed the acquisition of two hydropower plants in Brazil. The acquisition of the Santo Antônio do Jari Hydropower Plant in the states of Amapá and Pará and the Cachoeira Caldeirão Hydropower Plant in the state of Amapá, will add a further 612 MW of installed capacity to the company's generator park.
Repsol completed the acquisition of U.S. renewables developer ConnectGen from Quantum Capital Group in December 2023 for $768 million plus contingent payments.
Shell completed the acquisition of Pavilion Energy from Temasek Holdings in April 2025. Pavilion is a Singapore-based LNG trading and supply business with a contracted LNG supply portfolio of approximately 6.5 million tonnes per year.
Phillips 66 made a $150 million strategic minority investment in Australian battery materials company NOVONIX in August 2021, acquiring approximately 16 percent of the company. NOVONIX produces synthetic graphite anode materials for lithium-ion batteries from its Tennessee facility.