Professional M&A intelligence for the energy transition
EQT Infrastructure, through Otello BidCo, made a cash offer to acquire Swedish renewable energy developer OX2 for ~$1.51B. The deal aimed to transform OX2 into a renewables developer and integrated asset owner.
LS Power acquired Algonquin Power & Utilities Corp.'s renewable energy business (excluding hydro) for up to $2.5B. The renewables business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 MW of generating capacity and an 8,000 MW pipeline of wind, solar, […]
FH Capital has agreed to acquire a 75.1% stake in JinkoSolar's U.S. manufacturing operations, creating a domestic solar module and battery energy storage system platform. JinkoSolar will retain a 24.9% minority interest following the transaction. The assets include a 2-gigawatt solar module manufacturing facility in the United States and a growing battery energy storage business. […]
TotalEnergies acquired a 20% stake in Adani Green Energy Limited (AGEL) plus a seat on the board, alongside a 50% interest in a 2,353 MW operating solar portfolio.
SK Group, through SK E&S and SK Inc., made a $1.6 billion equity investment in Plug Power for a 9.9% stake plus a strategic partnership covering deployment of Plug's PEM electrolyzers and fuel cell technology across South Korea and Asia.
Scatec ASA acquired SN Power AS, the international hydropower platform of Norfund (the Norwegian Investment Fund for Developing Countries), for $1.17 billion.
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 […]
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 […]
Reliance New Energy Solar Limited completed its acquisition of a 40% stake in Sterling & Wilson Renewable Energy (SWREL), a Shapoorji Pallonji Group company.
Reliance Industries acquired 100% of the equity in MSKVY Nineteenth Solar SPV Limited and MSKVY Twenty-second Solar SPV Limited from MSEB Solar Agro Power Limited.