Category: Big Moves

IPX gets $4.95 billion for California solar and BESS project 

IPX Power has secured $4.95 billion in committed financing for the construction and operation of the Darden solar and storage projects located in Fresno County, California. The project will feature 1.15 GWac of solar capacity and 4.6 GWh of battery energy storage (BESS). Commercial operations for the project are expected to commence in 2028.

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KKR to acquire EDF’s US and Canada business

EDF has signed an agreement under which KKR has agreed to acquire the US and Canadian operations and assets of EDF power solutions. The agreement is subject to regulatory approvals and employee consultation procedures. The agreement also grants EDF power solutions the option to sell these assets under the agreed terms. As of March 2026, EDF operates a renewable energy portfolio with a total net installed capacity of 5.6 GW across US and Canada.

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SunAsia and VinEnergo plan 422 MWp floating PV in Philippines

SunAsia Energy Inc. and VinEnergo have partnered to develop a 422-MWp solar on Water portfolio across Pampanga and Negros Occidental, Philippines. The portfolio comprises three floating solar projects representing an estimated investment of $406 million. The projects are targeted for commercial operation between 2027 and 2028. Once operational, the projects are expected to generate clean electricity to power more than 278,000 homes annually.

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ContourGlobal acquires 2,000 MWh Wallace BESS in UK 

ContourGlobal has entered the UK market with the acquisition of 500 MW/2,000 MWh Wallace battery energy storage (BESS) from a consortium of sellers including New Energy Partnership Limited. It is a four-hour-duration BESS. The project is expected to participate in the upcoming UK Capacity Market auction. The project also benefits from a full planning consent, a secured land option, and allocated Gate 2 status under the UK grid connection reform process. 

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Matrix Renewables secures $1.3 billion for US renewable portfolio 

Matrix Renewables has closed a $1.3 billion financing package for a US portfolio comprising 859 MWdc of solar and 167 MWh of battery energy storage projects (BESS) across Texas, California, and Idaho. The transaction includes over $470 million in construction-to-term loans, around $400 million in tax equity bridge financing, and approximately $100 million in letters of credit.

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Skyborn and Amazon sign 600 MW offshore wind PPA in Germany 

Amazon and Skyborn Renewables have signed a 600 MW power purchase agreement (PPA) for electricity from the Gennaker offshore wind farm. The project is located in the German Baltic Sea and will add up to 976.5 MW of offshore wind capacity to Germany’s power system. The project will feature 63 offshore wind turbines rated at 15 MW each. Project construction is expected to commence following financial close in summer 2026, with commercial operations targeted for late 2028.

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BLT Energy secures approval for 4,800 MWh Australian BESS

BLT Energy has received development approval from the Regional Development Assessment Panel for its Red Gully Battery Energy Storage System (BESS) project in Western Australia. The project has a total capacity of 800 MW/4,800 MWh of energy storage. Phase 1 of the project will provide up to 400 MW of power and 2,400 MWh of storage capacity to the South West Interconnected System.

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A.P. Moller to acquire Mainstream Renewable Power South Africa 

A.P. Moller Capital, through its Emerging Markets Infrastructure Fund II (EMIF II), has signed an agreement to acquire Mainstream Renewable Power South Africa. Mainstream Renewable Power was established in 2009. It has a portfolio comprising 148 MW of operating and under-construction assets, 351 MW of construction-ready projects, and an approximately 11.6 GW pipeline of solar, wind, and battery storage projects. 

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FRV secures grid capacity for 2.3 GW renewables in Germany

Fotowatio Renewable Ventures (FRV) has secured 2.3 GW of grid capacity in Germany to support a portfolio of battery energy storage, solar PV, and hybrid renewable energy projects. The portfolio forms part of FRV’s broader international pipeline spanning solar, energy storage, hybrid systems, green hydrogen, and data center developments, with projects targeting ready-to-build (RTB) status between 2026 and 2029.

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Sembcorp completes acquisition of Alinta Energy

Sembcorp Industries has completed the full acquisition of Alinta Energy. The acquisition was completed through Sembcorp’s wholly owned subsidiaries – Sembcorp Energy Australia Pty Ltd and Sembcorp Energy Australia Pte Ltd. The acquisition follows Sembcorp’s announcement in December 2025 to acquire Alinta from Chow Tai Fook Enterprises. Alinta Energy has been under the ownership of Chow Tai Fook since 2017.

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Masdar buys stake in 705 MW Spanish renewables portfolio 

Masdar has agreed to acquire a 49.99 percent stake in Repsol’s 705 MW renewable energy portfolio in Spain in a deal valuing the assets at €849 million. The portfolio comprises 13 wind farms with a combined capacity of 402 MW and 6 solar parks totaling 303 MW, all of which became operational in 2025 and the first quarter of 2026. It also includes a pipeline of more than 565 MW of potential hybrid projects involving wind, solar and battery storage.

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MN8 Energy sets up 260 MW solar for Microsoft

MN8 Energy has commissioned two utility-scale solar projects totaling 260 MWac of capacity. These projects have long-term power purchase agreements (PPAs) with Microsoft. The projects include the 120 MW Long Point solar project in Texas and the 140 MW American Beech project in North Carolina. The Long Point project supplies renewable power to ERCOT’s Houston load zone, while American Beech supplies renewable power into the PJM market.

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Foxconn and Brookfield to develop 1 GW renewables in Vietnam

Foxconn and Brookfield have partnered to develop renewable energy projects in Vietnam to support Foxconn’s operations and supply chain partners. The collaboration aims to develop up to 1 GW of utility-scale wind, solar, and battery storage capacity across the country. The projects will be backed by long-term power purchase agreements and jointly managed by both companies.

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EBRD finances 400 MW renewables across south-east Europe

The European Bank for Reconstruction and Development (EBRD) is providing a €175 million loan to Public Power Corporation (PPC) to support renewable energy development across Bulgaria, Greece, and Romania. The financing will help develop approximately 400 MW of new wind and solar capacity across the three countries. The financing is backed by the EU-supported InvestEU. 

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Google and Voltus sign 100 MW VPPA in US

Voltus has signed a three-year bring your own capacity (BYOC) agreement with Google. Under the agreement, Voltus will aggregate up to 100 MW of distributed energy resources annually across the PJM grid region. The Google-funded virtual power plant will combine assets such as batteries, smart thermostats, and other flexible energy resources from homes and businesses.

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Fidra acquires up to 1 GW BESS project in UK 

Fidra Energy has acquired the Enderby battery energy storage (BESS) project from Innova in Leicestershire, UK.  Once operational, the project is expected to deliver up to 1,025 MW of storage capacity. The acquisition expands Fidra Energy’s UK battery storage pipeline to more than 4 GW. The project received planning consent in May 2025, with a regulatory decision expected in summer 2026.

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SEG Solar to build 4.6 GW solar module factory in Texas 

SEG Solar has announced plans to build a 4.6 GW solar module manufacturing facility in Greater Houston, Texas. The facility will increase SEG’s US solar module manufacturing capacity to 10.6 GW and will support next-generation heterojunction (HJT) solar module production. The facility’s construction is expected to be completed by March 2027 with commercial operations commencing in May 2027. 

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