Professional M&A intelligence for the energy transition
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 […]
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.
Northwest Natural Holding (NYSE: NWN) subsidiary SiEnergy Operating (SiEnergy) completed the acquisition of 100% of the capital stock of Hughes Gas Resources from EPCOR USA Inc. for $60 million. Hughes serves approximately 6,900 connections in 12 communities northeast of Houston and is expected to have a rate base of approximately $46 million at the end […]
NW Natural Holdings completed the acquisition of SiEnergy from SiEnergy Capital Partners, an affiliate of Ridgewood Infrastructure, expanding its regulated natural gas utility footprint in Texas. SiEnergy serves about 70,000 residential and commercial customers across the Houston, Dallas and Austin metropolitan areas.
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.
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 […]
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 […]