Weekly renewables M&A round-up (Dec 5- 9)

Renewables Now covered M&A stories about RWE, CWP, Masdar, and others in the past week. Below is the full list:

-- RWE buys developer of up to 900-MW wind project in Irish waters

German energy major RWE AG (ETR:RWE) has acquired the company developing an offshore wind farm project that could add up to 900 MW of capacity in Irish waters.

Read more: https://renewablesnow.com/news/rwe-buys-developer-of-up-to-900-mw-wind-project-in-irish-waters-807092/

-- SJVN to form 3-GW solar, hydro JV in India's Odisha

Indian state-owned power generator Satluj Jal Vidyut Nigam (SJVN) has agreed to set up a joint venture (JV) with Grid Corporation of Odisha to develop 3 GW of solar and hydropower projects in the Eastern Indian state of Odisha.

Read more: https://renewablesnow.com/news/sjvn-to-form-3-gw-solar-hydro-jv-in-indias-odisha-807116/

-- Pacifico, Eiffel join hands in 300-MW agrivoltaic rollout in Italy

Germany’s Pacifico Energy Partners and French asset manager Eiffel Investment Group have agreed to jointly work on roughly 300 MW of agrivoltaic projects in Italy, some of which with integrated battery storage.

Read more: https://renewablesnow.com/news/pacifico-eiffel-join-hands-in-300-mw-agrivoltaic-rollout-in-italy-807128/

-- Juwi takes controlling stake in Italian solar developer GEMdev

German renewables developer Juwi AG has acquired a majority stake in Italy-based GEMdev SrL, a green field solar developer targeting to build a project pipeline of 700 MW in the next five years.

Read more: https://renewablesnow.com/news/juwi-takes-controlling-stake-in-italian-solar-developer-gemdev-807130/

-- AES Brasil wraps up acquisition of 456 MW of wind farms from Cubico

Brazilian renewables company AES Brasil Energia SA (BVMF:AESB3) has finalised the acquisition of three wind farms with a combined installed capacity of 455.9 MW from Cubico Brasil SA.

Read more: https://renewablesnow.com/news/aes-brasil-wraps-up-acquisition-of-456-mw-of-wind-farms-from-cubico-807138/

-- Longroad buys 98-MW solar farm in California

US renewables developer Longroad Energy Holdings LLC on Monday said it has acquired the 98-MW direct current (DC) Titan solar park in Imperial County, California from Sunpin Holdings LLC.

Read more: https://renewablesnow.com/news/longroad-buys-98-mw-solar-farm-in-california-807241/

-- Good Energy buys heat pump installer Igloo

UK renewable power company Good Energy Group Plc (LON:GOOD) has taken over local heat pump installation firm Igloo Works Limited for an initial consideration of GBP 1.75 million (USD 2.13m/EUR 2.03m) as part of its carbon footprint reduction push.

Read more: https://renewablesnow.com/news/good-energy-buys-heat-pump-installer-igloo-807265/

-- Encavis buys 27.6-MW Irish wind farm for special fund

The asset management arm of German wind and solar farm operator Encavis AG (ETR:ECV) has acquired a 27.6-MW wind farm project in Ireland for its special fund Encavis Infrastructure III (EIF III).

Read more: https://renewablesnow.com/news/encavis-buys-276-mw-irish-wind-farm-for-special-fund-807257/

-- Origin, CDPQ exit bidding for Australia's CWP Renewables - report

Australian power and gas company Origin Energy Ltd’s (ASX:ORG) and pension fund Caisse de depot et placement du Quebec (CDPQ) have pulled out of the bidding for Australia-based CWP Renewables and its over 1-GW portfolio, Reuters reports.

Read more: https://renewablesnow.com/news/origin-cdpq-exit-bidding-for-australias-cwp-renewables-report-807288/

-- MET Group buys 52-MW solar project in Romania

Swiss-based energy firm MET Group on Tuesday announced the acquisition of a 52-MWp solar project in Romania, marking its entry into the country’s renewables market.

Read more: https://renewablesnow.com/news/met-group-buys-52-mw-solar-project-in-romania-807296/

-- FREYR, Nidec to kick off 8-GWh battery rollout under new JV

Norway’s FREYR Battery (NYSE:FREY) and Japan-based Nidec Corp (TYO:6594) have officially signed a joint venture (JV) to develop, manufacture and sell battery modules and battery energy storage solutions and products for industrial and utility customers globally.

Read more: https://renewablesnow.com/news/freyr-nidec-to-kick-off-8-gwh-battery-rollout-under-new-jv-807295/

-- Morgan Stanley’s stake in PNE draws interest from EQT, Macquarie - report

Morgan Stanley’s (NYSE:MS) 40% stake in German renewables company PNE AG (ETR:PNE3) has grabbed the eye of various potential suitors, among them Swedish private equity firm EQT AB (STO:EQT) and Australian investment bank Macquarie Group (ASX:MQG), Bloomberg reports.

Read more: https://renewablesnow.com/news/morgan-stanleys-stake-in-pne-draws-interest-from-eqt-macquarie-report-807308/

-- Squadron Energy takes hold of Australia's CWP Renewables

Squadron Energy, backed by Australian iron ore billionaire Andrew Forrest, has acquired domestic platform CWP Renewables, taking hold of a 1.1-GW operational wind portfolio and a hefty pipeline of wind, solar and battery projects.

Read more: https://renewablesnow.com/news/squadron-energy-takes-hold-of-australias-cwp-renewables-807422/

-- BP wraps up stake purchase in 26-GW AREH H2 scheme in Australia

UK oil-and-gas major BP Plc (LON:BP) said on Tuesday it had finalised the acquisition of a 40.5% equity stake in the Asian Renewable Energy Hub (AREH) project, a Western Australia development that is promised to deliver 26 GW of wind and solar generation capacity and green hydrogen and ammonia production.

Read more: https://renewablesnow.com/news/bp-wraps-up-stake-purchase-in-26-gw-areh-h2-scheme-in-australia-807515/

-- Partners Group invests in solar power firm Sunsure Energy

Swiss investment management company Partners Group Holding AG (SWX:PGHN) is taking a majority stake in India-based solar power company Sunsure Energy with a plan to expand the business into an independent power producer with a targeted operational capacity of over 3 GW.

Read more: https://renewablesnow.com/news/partners-group-invests-in-solar-power-firm-sunsure-energy-807538/

-- KGAL forms solar-focused JV in Spain with local partner

German investment and asset manager KGAL GmbH & Co KG said on Thursday that it is setting up a joint venture (JV) in Spain for its impact fund KGAL ESPF 5 to pursue opportunities in the Spanish solar and wind energy markets.

Read more: https://renewablesnow.com/news/kgal-forms-solar-focused-jv-in-spain-with-local-partner-807599/

-- EDP wraps up sale of 198-MW hydropower plant in Brazil

Energy giant EDP - Energias de Portugal SA (ELI:EDP) has completed the divestment of the 198-MW Mascarenhas hydropower plant (HPP) in Espirito Santo state, southeastern Brazil.

Read more: https://renewablesnow.com/news/edp-wraps-up-sale-of-198-mw-hydropower-plant-in-brazil-807568/

-- Commerz Real buys 50-MW agrivoltaics project in Germany

German investment manager Commerz Real AG has bought its first agrivoltaics solar project which is expected to go online in 2025 and have a nominal capacity of about 50 MW.

Read more: https://renewablesnow.com/news/commerz-real-buys-50-mw-agrivoltaics-project-in-germany-807615/

-- Brazil's Cade okays Eurofarma, Omega 211.5-MW wind portfolio deal

Brazil's competition regulator CADE has given the green light to a deal between pharmaceutical company Eurofarma Laboratorios SA and energy firm Omega Desenvolvimento de Energia 4 SA tied to the 211.5-MW Assurua 4 wind project.

Read more: https://renewablesnow.com/news/brazils-cade-okays-eurofarma-omega-2115-mw-wind-portfolio-deal-807679/

-- Brookfield's Luminace buying 21.6-MWp solar trio from EDF

EDF Renewables North America is selling a 21.6-MW DC portfolio of community solar projects in Maine to Luminace Holdings LLC, the North American distributed energy business of Brookfield Renewable Partners LP (NYSE:BEP).

Read more: https://renewablesnow.com/news/brookfields-luminace-buying-216-mwp-solar-trio-from-edf-807668/

-- Green Rock Energy Partners buys RNG facility in Pennsylvania

US infrastructure-focused private equity firm Green Rock Energy Partners LLC unveiled Thursday the acquisition of PSA South Hills Landfill Gas Venture LLC, a renewable natural gas (RNG) production facility located in South Park Township, Pennsylvania.

Read more: https://renewablesnow.com/news/green-rock-energy-partners-buys-rng-facility-in-pennsylvania-807669/

-- TAQA, ADNOC wrap up Masdar deal with Mubadala

Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC) have completed the acquisition of stakes in Masdar, joining efforts in a push to massively grow the renewable developer's green energy business on a global level.

Read more: https://renewablesnow.com/news/taqa-adnoc-wrap-up-masdar-deal-with-mubadala-807729/

-- ATP buys 15% of Danish solar developer Better Energy

Danish pension fund ATP has acquired a 15% stake in compatriot Better Energy in a move that will enable the renewable energy developer and power supplier to scale up its 10-GW solar project pipeline.

Read more: https://renewablesnow.com/news/atp-buys-15-of-danish-solar-developer-better-energy-807697/

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