Solar Energy

Published on October 30th, 2020 | by greentechheadlines

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Weekly renewables M&A round-up (Oct 26-30)

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By andresra on 2007-05-28 01:40:58
tags Weekly renewables M&A round-up (Oct 26-30)

October 30 (Renewables Now) – One of the top M&A news this week was Vestas’ decision to buy Mitsubishi Heavy’s stake in their offshore wind JV. We also covered a number of project and asset acquisition and some hydrogen partnerships. Below is the full list:

— Australia’s New Energy Solar to exit home market, seeking better value

Australia-based solar farms investor and operator New Energy Solar Ltd (ASX:NEW) announced plans to sell its portfolio of 167 MW of solar assets at home and focus on its US business.

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— ERG buys rights to build 24.5-MW Polish wind park

A subsidiary of Italian energy company ERG SpA (BIT:ERG) has closed the acquisition of a company that holds the authorisations to build a 24.5-MW wind park in north-central Poland.

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— Snam, ITM Power to develop green hydrogen projects

Italian natural gas utility company Snam SpA (BIT:SRG) last week announced a project partnership with UK-based ITM Power Plc (LON:ITM) and said it will take a stake in it, subscribing to shares worth GBP 30 million (USD 39m/EUR 33m) as part of a share issue.

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— SER Capital Partners buys 30 MW of battery storage projects in Texas

Private equity company SER Capital Partners, LLC last week announced the acquisition of companies behind 30 MW of energy storage projects in Texas.

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— ReneSola, Novergy to form solar JV in UK

ReneSola (NYSE:SOL) and UK solar developer Novergy have agreed to set up a joint venture (JV) to develop utility-scale solar projects in the UK.

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— Ørsted buys 298-MW wind project in Nebraska, takes FID

Danish green energy major Ørsted (CPH:ORSTED) has acquired for the 298-MW Haystack onshore wind project in the US state of Nebraska and taken the final investment decision (FID) to launch the execution.

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— Octopus snaps up 24-MW shovel-ready wind project in France

Octopus Renewables Infrastructure Trust plc (LON:ORIT) has wrapped up the acquisition of a 24-MW shovel-ready wind project in France.

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— Vestas to buy Mitsubishi’s stake in MHI Vestas Offshore

Danish turbine maker Vestas Wind Systems A/S (CPH:VWS) has agreed to buy the entire stake held by Japan’s Mitsubishi Heavy Industries Ltd (TYO:7011) in their 50/50 offshore wind joint venture (JV) for around EUR 709 million (USD 831.7m).

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— French Plastic Omnium, German Elringklinger form hydrogen fuel cell JV

French automotive parts supplier Compagnie Plastic Omnium SA (EPA:POM) and German peer Elringklinger AG (ETR:ZIL2) are teaming up to establish a joint venture which will develop and market hydrogen fuel cell stacks and components to further the reduction of carbon emissions by motor vehicles.

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— Skyline Renewables buys 250-MW solar project in Texas

US-based renewable energy platform Skyline Renewables has acquired the 250-MW Galloway I solar project located in Central West Texas from 8minute Solar Energy.

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— Aquila wraps up buy of 20 MWp of PPA-backed solar in Portugal

Aquila European Renewables Income Fund plc (LON:AERS) has finalised the acquisition of 20 MWp of operational solar parks in Portugal.

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— Engie buys developer of 420-MW wind project in Australia

French power utility Engie SA (EPA:ENGI), through its Australia and New Zealand (ANZ) unit, has acquired a project company behind the 420-MW Hills of Gold wind farm development in New South Wales.

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— KKR creates platform to buy renewable energy assets in India

Investment firm KKR launched a platform called Virescent Infrastructure that seeks to acquire renewable energy assets across India with long-term contracts that bring stable cashflow.

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— Anesco sells 81 MW of battery storage to Gore Street

UK developer Anesco on Friday has sold an 81-MW battery storage portfolio to Gore Street Energy Storage Fund plc (LON:GSF).

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— US Covanta kicks off strategic review

US waste-to-energy specialist Covanta Holding Corp (NYSE:CVA) launched a strategic review of its operations, growth priorities and capital structure in a push to unlock value.


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