Professional M&A intelligence for the energy transition
Altus Power acquired Vitol's distributed solar portfolio in the U.S. Northeast for $118 million in January 2024. The portfolio includes thousands of long-term solar customers served by rooftop, ground, and carport arrays.
Brookfield Renewable completed its $2.8 billion acquisition of Duke Energy Renewables in October 2023. The deal added 3.4 GW of operating wind, solar, and battery storage capacity, with an additional 6.1 GW in development across the U.S.
American Electric Power (Nasdaq: AEP) sold its distributed resources business, AEP OnSite Partners, to funds advised by Basalt Infrastructure Partners. AEP OnSite Partners owns, operates and maintains behind-the-meter assets and distributed energy resources and sells the output to schools, municipalities, hospitals and other commercial and industrial customers. Their portfolio consists of more than 300 MW […]
An Invenergy-led consortium with CDPQ acquired American Electric Power's unregulated renewables business in 2023, including 1,365 MW of operating wind and solar capacity across multiple states.
Engie completed its $1.6 billion acquisition of Houston-based battery storage developer Broad Reach Power from EnCap Energy Transition in August 2023. The deal added 350 MW of operating battery storage and a 2.7 GW pipeline.
Energy Vault Holdings said it has entered into a binding agreement to acquire an 850-megawatt battery energy storage system (BESS) portfolio in Japan, marking its entry into one of the fastest-growing global storage markets. The portfolio includes 350 MW of advanced-stage projects targeted to begin construction in the second half of 2027, with commercial operations […]
Brookfield Renewable agreed to acquire National Grid's US renewables business for $1.7 billion, including a portfolio of utility-scale solar, onshore wind, and battery storage assets across the U.S. with 1.8 GW in operation and another 1.3 GW under construction. The terms of the transaction imply an enterprise value for National Grid Renewables of $1.74 billion. […]
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 […]
Alphabet agreed to acquire Intersect Power, a developer of data-center and energy infrastructure, for $4.75 billion in cash plus the assumption of debt. The transaction includes Intersect's gigawatt-scale energy and data-center projects under development or construction and aims to accelerate power generation capacity to support Alphabet's growing U.S. data-center demand. Intersect Power will continue operating […]
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.