ENERGY PRESPECTIVE

June 2022

Monthly Market Update

Notable Mergers & Acquisitions and Asset Transactions

MERGERS & ACQUISITIONS

TotalEnergies agreed to acquire a 50% stake in the US-based Clearway Energy Group from Global Infrastructure Partners for $1.6 billion. Clearway has 7.7GW of wind and solar assets in operation through its listed subsidiary CWEN and a 25GW pipeline of renewable and storage projects, of which 15GW are in an advanced stage of development

AlbAPG and OMERS Infrastructure sealed a deal to jointly acquire Groendus from NPM Capital. Groendus, formed through the merger of six companies, develops, builds and operates energy projects and has installed over 170MWp solar capacity and more than 12,000 smart meters

KKR agreed to buy ContourGlobal through its newly-formed company Cretaceous Bidco for $2.17 billion. ContourGlobal is a wholesale power producer with an active portfolio of 138 thermal and renewable power plants operational across Africa, Latin America, Europe, and North America, having a combined capacity of 6.3GW across 20 countries

Axium Infrastructure acquired BlueWave, a solar and energy storage developer for an undisclosed amount. BlueWave has developed and built over 150MW solar projects to date and has experience in community solar, agrivoltaics and floatovoltaics

ASSET TRANSACTIONS

Renewable Power Capital signed a deal to acquire a 528MW cluster of RTB onshore wind farms in Sweden from an undisclosed sellers for $857 million. The wind farms are expected to start commercial operations in Q4 2025

Borrego entered into a definitive agreement to sell its project pipeline of over 8.4GW of solar and 6.4GW of energy storage to ECP. The financial details about the transaction was not disclosed

Verbund acquired a 4.5GW portfolio of operational and under development wind and solar projects in Spain from various funds of the Q-Energy Group for an undisclosed amount. The portfolio comprises regulated and operational solar farms with a combined capacity of 82MW, 2.1GW wind and solar PV projects in an advanced stage of development and 2.4GW of greenfield development projects

Notable Fund Raisings & Project Finance Transactions

FUND RAISINGS

Allianz Global Investors announced the first close of the Allianz Global Diversified Infrastructure Equity Fund II (AGDIEF II) at €550 million. The target sectors of the AGDIEF II include energy, communication and transportation as well as social and environmental infrastructure. Allianz Capital Partners focuses on private equity, infrastructure and renewable energy

PROJECT FINANCE TRANSACTIONS

Origis Energy closed a $375 million credit facility for its solar and energy storage development project pipeline. CIT, Deutsche Bank, HSBC, Nomura, Rabobank and Santander acted as coordinating lead arrangers in the transaction

Arcadia raised $200 million in a funding round led by JP Morgan Asset Management’s Sustainable Growth Equity Team. Keyframe Capital, Broadscale Group and Triangle Peak Partners, Camber Creek, Tiger Global Management, Wellington Management, Salesforce Ventures and Drawdown Fund also backed the funding round

CleanCapital secured a credit facility of up to $200 million from Rabobank to support its pipeline of distributed solar and energy storage projects. Rabobank will act as mandated lead arranger, administrative agent and collateral agent

June 2022


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