Weekly renewables M&A round-up (Nov 21-25)

Renewables Now covered M&A stories about Enel, Shell, Galileo, Ocean Wind and others in the past week. Below is the full list:

-- Z Energy buys 50% of 35-MWdc solar park in Japan

Japanese energy company Z Energy Co Ltd has acquired a 50% equity interest in a 34.74-MW direct current (DC) solar power plant located in Fukushima prefecture, northeast Japan.

Read more: https://renewablesnow.com/news/z-energy-buys-50-of-35-mwdc-solar-park-in-japan-805546/

-- Photon Energy buys rights to Aussie solar-plus-storage project

Amsterdam-based solar power producer Photon Energy NV (WSE:PEN) has agreed to buy the development rights and land for a 9.8-MWp solar project with 10 MWh of battery storage in New South Wales, Australia.

Read more: https://renewablesnow.com/news/photon-energy-buys-rights-to-aussie-solar-plus-storage-project-805440/

-- Green Arrow Capital invests in 55-MWp wind farms portfolio in Italy

Italian alternative investment manager Green Arrow Capital SGR (GAC) has bought a 70% stake in a 55-MWp portfolio of five already operational wind farms in its home market.

Read more: https://renewablesnow.com/news/green-arrow-capital-invests-in-55-mwp-wind-farms-portfolio-in-italy-805461/

-- Ameresco buys 5-MW wind farm in Ireland

US energy efficiency and renewables company Ameresco Inc (NYSE:AMRC) has acquired a 5-MW wind farm in West County Cork, Ireland, that is designed to supply about 3,000 homes in the region.

Read more: https://renewablesnow.com/news/ameresco-buys-5-mw-wind-farm-in-ireland-805582/

-- NEXT Renewable Fuels unveils Nasdaq listing plan

US renewable diesel and sustainable aviation fuel maker NEXT Renewable Fuels Inc has agreed to merge with blank check company Industrial Tech Acquisitions II Inc (NASDAQ:ITAQ) in a deal that will introduce it as a publicly traded entity with an expected equity value of about USD 666 million (EUR 649.3m) at closing.

Read more: https://renewablesnow.com/news/next-renewable-fuels-unveils-nasdaq-listing-plan-805588/

-- Duke Energy buys 100-MW Mississippi solar project contracted by Toyota

US utility Duke Energy (NYSE:DUK) on Monday announced it has acquired a 100-MW solar project in Mississippi that has a power off-take deal in place with Toyota North America.

Read more: https://renewablesnow.com/news/duke-energy-buys-100-mw-mississippi-solar-project-contracted-by-toyota-805566/

-- Omnes investing in Swedish solar developer with 1.2-GW pipeline

French infrastructure fund manager Omnes Capital has made an investment of an unspecified amount in Sweden’s HP Solartech, a utility-scale solar project developer with 1.2-GW pipeline.

Read more: https://renewablesnow.com/news/omnes-investing-in-swedish-solar-developer-with-12-gw-pipeline-805586/

-- Enel to shed EUR 21bn of assets, reduce investments in 2023-2025

Italian utility giant Enel SpA (BIT:ENEL) will tighten its spending in 2023-2025 and sell assets worth EUR 21 billion (USD 21.6bn) as it works to bring down net debt and focus on six core markets.

Read more: https://renewablesnow.com/news/enel-to-shed-eur-21bn-of-assets-reduce-investments-in-2023-2025-805621/

-- INVL fund pockets fresh funds for Polish, Romanian renewable projects

The INVL Renewable Energy Fund I run by Lithuania’s INVL Asset Management has reached a total size of EUR 52.9 million (USD 55.1m) to invest in renewable energy projects across the European Union, mostly in Poland and Romania.

Read more: https://renewablesnow.com/news/invl-fund-pockets-fresh-funds-for-polish-romanian-renewable-projects-805591/

-- Flexibility services firm Sympower raises further EUR 3m of Series B funds

Amsterdam-based flexibility services provider Sympower on Monday said it has raised an additional EUR 3 million (USD 3.07m) to bring its Series B financing to EUR 25 million.

Read more: https://renewablesnow.com/news/flexibility-services-firm-sympower-raises-further-eur-3m-of-series-b-funds-805642/

-- Swell pockets USD 120m for solar and battery VPPs in US

Swell Energy Inc has raised USD 120 million (EUR 116.8m) to accelerate its ambition to deploy 26,000 energy storage systems at homes and businesses across the US and bring its total solar and battery virtual power plants (VPPs) to 600 MWh, the California-based company has said.

Read more: https://renewablesnow.com/news/swell-pockets-usd-120m-for-solar-and-battery-vpps-in-us-805706/

-- Enery wraps up acquisition of 81-MW renewables portfolio in Romania

Austrian renewables developer Enery has completed the acquisition of an 81-MW portfolio of renewable energy assets in Romania, boosting its green generation capacity in the Eastern European country to 273 MW.

Read more: https://renewablesnow.com/news/enery-wraps-up-acquisition-of-81-mw-renewables-portfolio-in-romania-806139/

-- Shell, Alternergy form Philippine JV for 1-GW offshore wind project

Shell plc (LON:SHEL) has joined hands with Philippine renewable energy developer Alternergy Holdings Corp to develop an offshore wind project off Midnoro island with a potential capacity of 1 GW.

Read more: https://renewablesnow.com/news/shell-alternergy-form-philippine-jv-for-1-gw-offshore-wind-project-805748/

-- Sunwin Energy sells 375-MWp of solar projects in Italy

Switzerland-based Sunwin Energy GmbH has agreed to sell a 375-MWp portfolio of ground-mounted solar projects in Italy to an unnamed European stock market-listed energy company.

Read more: https://renewablesnow.com/news/sunwin-energy-sells-375-mwp-of-solar-projects-in-italy-805795/

-- Encavis, Solgrid buying 14-MW Swedish solar project

German wind and solar farm operator Encavis AG (ETR:ECV) said it is in the process of acquiring a 14-MW solar project in Sweden under its partnership with Norwegian solar developer Solgrid AS.

Read more: https://renewablesnow.com/news/encavis-solgrid-buying-14-mw-swedish-solar-project-805877/

-- Japan's ORIX lowers Ormat stake after Q3 earnings drop

Japanese financial services group ORIX Corporation (TYO:8591) has reduced its shareholding in Ormat Technologies Inc (NYSE:ORA) by 6.8%, a few weeks after the US geothermal power producer posted a decrease in its nine-month earnings.

Read more: https://renewablesnow.com/news/japans-orix-lowers-ormat-stake-after-q3-earnings-drop-805893/

-- Enviria, Galileo team up for gigawatt-scale solar JV in Germany

German solar energy start-up Enviria Solar GmbH and pan-European renewable energy developer Galileo Green Energy GmbH are setting up a joint venture to develop solar parks across Germany with the ambition to add about 1 GW of projects to its pipeline annually.

Read more: https://renewablesnow.com/news/enviria-galileo-team-up-for-gigawatt-scale-solar-jv-in-germany-805921/

-- Ocean Winds, Bord na Mona plan 2.3-GW offshore wind duo in Irish waters

Irish utility service provider Bord na Mona and the Ocean Winds joint venture (JV) between EDP Renewables (ELI:EDPR) and Engie SA (EPA:ENGI) will work together on two offshore wind projects in Ireland with a potential capacity of up to 2.3 GW.

Read more: https://renewablesnow.com/news/ocean-winds-bord-na-mona-plan-23-gw-offshore-wind-duo-in-irish-waters-805909/

-- Actis' BluPine snaps up 404-MWp Indian solar portfolio from Atha

BluPine Energy, a portfolio company of private equity firm Actis, has finalised the acquisition of the 404-MWp operational solar portfolio of Indian miner Atha Group, the parent company said on Thursday.

Read more: https://renewablesnow.com/news/actis-blupine-snaps-up-404-mwp-indian-solar-portfolio-from-atha-805911/

-- Aussie firms form JV for 4.5 GW of long-duration storage in Victoria

Australian renewable energy developers Sunshine Hydro and Energy Estate will seek to develop up to 4.5 GW of long-duration energy storage projects to be integrated with renewable generation and green hydrogen capacity in Victoria.

Read more: https://renewablesnow.com/news/aussie-firms-form-jv-for-45-gw-of-long-duration-storage-in-victoria-806071/

-- Photon Energy acquires control of VPP developer Lerta

Amsterdam-based solar and water solutions company Photon Energy NV (WSE:PEN) on Friday said that it has boosted to 56.75% its shareholding in Polish virtual power plant (VPP) developer Lerta SA for about EUR 6.9 million (USD 7.19m) with a plan for a complete buyout before year-end.

Read more: https://renewablesnow.com/news/photon-energy-acquires-control-of-vpp-developer-lerta-806088/

-- Ignitis Renewables to buy 218-MW wind project in Lithuania

Ignitis Renewables, part of Lithuanian state-controlled energy holding Ignitis Group (VSE:IGN1L), said on Friday that it has signed an agreement to fully acquire a company that owns a 218-MW onshore wind farm development in Lithuania.

Read more: https://renewablesnow.com/news/ignitis-renewables-to-buy-218-mw-wind-project-in-lithuania-806085/

-- Tion Renewables acquires 8-MW battery in UK

German renewables company Tion Renewables AG (ETR:TION) has bought an 8-MW/9.3-MWh battery energy storage system in the UK, marking its entry into the battery storage market.

Read more: https://renewablesnow.com/news/tion-renewables-acquires-8-mw-battery-in-uk-806097/

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