Masdar has successfully concluded the acquisition of 50 per cent share in Terra-Gen Power Holdings II, LLC, a prominent independent renewable energy producer in US. This acquisition was made from Energy Capital Partners, which has now fully divested its stake in Terra-Gen. Igneo Infrastructure Partners retains its 50 per cent interest in the company.
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Cindrigo announced that it has exercised the option agreement entered into last November to acquire the entire issued share capital of Energy Co-invest Global Corp (ECG). Cindrigo wants to expand its renewable energy portfolio and this acquisition of ECG will help the former to strengthen its position in the clean energy space, especially geothermal energy.
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Schroders, a London-based asset management firm, stated that it has agreed to pay $474.09 million for a 75 per cent stake in Greencoat Capital Holdings, a British renewables investor. Greencoat will become part of Schroders Capital, a private market branch of Schroders, as a result of this transaction. It will be known as be known as Schroders Greencoat.
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AES Corporation, a US based solar developer, has announced the acquisition of Community Energy Solar, LLC (Community Energy). AES has signed PPAs to provide 4 GW of renewable energy in the United States this year, and the acquisition of Community Energy will help the company’s future expansion ambitions by providing a robust pipeline and a talented development personnel.
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Shell New Energies, a subsidiary of Royal Dutch Shell, has agreed to purchase Savion, a utility-scale solar and energy storage developer in the United States, from Macquarie’s Green Investment Group for a 100 per cent interest. With over 100 projects in construction in 26 states, Savion has a pipeline of more than 18 GW of solar and energy storage projects.
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Sembcorp Industries, a Singapore-based renewable energy company, has acquired a 98 per cent stake in a 658 MW portfolio of operational wind and solar assets from GCN Capital Partners Infrastructure Fund III and its affiliates for $517 million through its 100 per cent subsidiary Sembcorp Energy (Shanghai). The assets are contracted and qualified for fixed feed-in tariffs under China’s renewable energy programme, and are located in energy demand areas such as Hebei, Henan, and Shandong provinces.
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American Securities LLC, a private equity firm, has entered into an agreement to acquire Swinerton Renewable Energy, the renewable energy division of Swinerton Builders, and the wholly-owned subsidiary SOLV, Inc. from Swinerton Incorporated. The acquisition will combine Swinerton’s existing Engineering, Procurement and Construction (EPC) and Operations and Maintenance (O&M) service groups under one company named, SOLV Energy.
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DOB Equity, a Dutch family-backed impact investor specializing in East African ventures, intends to buy interests in at least three firms this year, despite a drop in private equity deals in the region. Investments are planned in the electric mobility, insurance, and health-tech industries. The transactions vary from $250,000 to more than $5 million, with shareholdings ranging from 10 percent to 49 percent.
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Hanwha Solutions has invested $855.2 million for a 100 percent share in renewable energy producer RES France in order to extend its business portfolio in Europe. As a result of this agreement, Hanwha Solutions will have complete ownership of RES France’s solar and wind power projects totaling 5 GW, which was handled by the company’s green energy business Hanwha Q Cells.
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Brookfield Business Partners, a subsidiary of Brookfield Asset Management in Canada, has agreed to buy Aldo, Brazil’s leading PV product distributor, and system integrator. The transaction should be completed by the end of August. Brookfield Business Partners announced the acquisition of Aldo in a quarterly financial report, saying it will fund around $115 million of the $320 million equity investment for a 35 percent ownership stake, with the remainder coming from institutional investors.
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Canada-based Northland Power Inc. has entered into a definitive agreement for the acquisition of an operating portfolio of renewable power projects in Spain. It has also announced a concurrent $900 million bought deal equity financing to fund both, the acquisition as well as the development of its 4 to 5 GW identified project pipeline.
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Buckeye Partners and Nala Renewables will together acquire majority ownership of Swift Current Energy, a North American clean energy development and investment platform. As part of this transaction, Swift Current Energy’s management team will retain a minority ownership in the company through their holding company, Lookout Ridge Energy Partners. The same team will also remain in place as the company’s management.
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Total Quadran, Total’s 100% renewable power geneation subsidiary in France, has sold half of its equity stakes in two renewable energy portfolios to Banque des Territoires and Crédit Agricole Assurances. Banque des Territoires has acquired a 50% stake in a 53 MW portfolio comprising of 8 solar farms in New Caledonia. Meanwhile, Crédit Agricole Assurances has acquired a 50% stake in a 285 MW portfolio comprising of 9 wind farms with a total capacity of 103 MW and 44 solar power plants with a total capacity of 182 MW.
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Israel-based OPC Energy recently announced the closure of its acquisition of Competitive Power Ventures (CPV) from Global Infrastructure Partners (GIP) after receiving the required regulatory approval. With this transaction OPC fully owns CPV’s operating assets, development pipeline and asset management business. OPC has partnered with three Israeli institutional investors to carry out this acquisition.
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Lightsource BP has announced the acquisition of a portfolio consisting of 1.06 GW of solar projects in Spain from RIC Energy. Additionally, the sales agreement specifies a partnership with RIC Energy to develop solar projects in 14 sites across Madrid, Andalusia, and Castile and Leon. The first batch of projects is projected to reach ready-to-build status by the end of 2021 and be commissioned between 2022 and 2025.
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Spain-based energy group Naturgy has acquired 100% of the economic interests in Hamel Renewables, a renewable energy company specialising in solar and energy storage. This transaction marks Naturgy’s entry into the United States renewable energy market as this is its first investment here.
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Energy giant Total has announced the acquisition of a 20% minority interest in Adani Green Energy Limited (AGEL) from Adani Group, India’s leading infrastructure platform. This transaction is the latest development in the strategic alliance between the two parties. With this latest acquisition, Total will have a seat on the Board of Directors of AGEL.
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United States based independent power producers Novatus Energy and Southwest Generation have announced the completion of their merger to create a new energy platform. The new platform, called Onward Energy, will continue under common ownership by institutional investors advised by J.P. Morgan Asset Management.
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Following a tough first half when corporate funding was down 25% year-over-year, recovery has been swift and broad, with corporate funding up 24% for the year. The solar ETF was up 225%, with 15 solar stocks up over 100% in 2020. Public market funding was also up with the help of several IPOs, and debt financing was up on the back of securitization deals.
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