Skip to main content

December 2022

Monthly Market Update

Notable Mergers & Acquisitions and Asset Transactions


  • Solarpack Corporacion Tecnologica finalized the acquisition of Solaer Holding. Solaer has a 2.8GW pipeline of solar projects in Spain and Italy. Financial details of the transaction were not disclosed

  • Shell Petroleum NV, a wholly owned subsidiary of Shell plc, reached an agreement with Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension to acquire a 100% stake in Nature Energy for nearly $2 billion. Based in Denmark, Nature Energy is a producer of RNG from agricultural, industrial, and household wastes

  • Strata Clean Energy, a US solar and storage developer, acquired Crossover Energy Partners. Crossover Energy Partners have contracted or developed over 10GW of renewable energy projects and over 11GWh of BESS projects

  • BlackRock Alternatives, through a fund managed by its Diversified Infrastructure business, agreed to acquire Jupiter Power from ENCAP Energy Transition Fund I and co-investment partners Yorktown Partners and Mercuria Energy for an undisclosed amount. Jupiter has an 11GW development pipeline and owns and operates a large storage fleet in Texas with a combined capacity of 655MWh. It currently has 340MWh of new projects in or near construction


  • Sonnedix Power Holdings Ltd acquired 5 solar PV projects with a combined capacity of 299MW from Lightsource bp in the UK

  • Greenalia acquired 3 utility-scale solar PV farms with a combined capacity of 502MWp in Texas, US. The project portfolio includes 265MWp Donegal Solar, 119MWp Leitrim Solar and 118MWp Roscommon Solar PV projects. The projects are expected to reach commercial operations in early 2025

  • Duke Energy Sustainable Solutions acquired the 100MW Wildflower Solar project from Clearway Energy Group in Mississippi, US. The solar project will achieve commercial operations in late 2023

Notable Fund Raisings & Project Finance Transactions


  • Encavis Asset Management and BayernLB launched a €600 million fund dedicated to renewable energy. The fund namely, Encavis Infrastructure Fund 5 is directed at insurance companies, pension and retirement funds and will target investments in wind, solar, battery storage and power-to-gas solutions. The fund has received initial €50m of seed funding from HitecVision-backed OMP Capital

  • Alcazar Energy Partners II, a sustainable infrastructure fund focused on utility-scale renewable energy projects in emerging markets, reached its first close at $337 million. The transaction will enable the development and construction of over 2GW of clean energy infrastructure across selected emerging markets


  • CaixaBank and BNP Paribas signed a €500 million syndicated green loan with Iberdrola SA, backed by Spain’s Export Credit Agency, Cesce. The 15-year will be allocated to finance renewable wind and solar PV projects, as well as battery and transmission grid projects in the UK, Ireland, Portugal and Poland

  • Aspen Power Partners secured a $350 million investment from Carlyle. The investment will support Aspen’s organic and acquisition-driven growth strategy targeting the community, multifamily, C&I solar and storage markets • Leeward Renewable Energy closed $615 million in financing for its 196MW Big Plain Solar Facility in Ohio and 100MW Oak Trail Solar Facility near North Carolina, US. Leeward received approximately $420 million in construction-to-term financing from MUFG Bank along with a $195 million tax equity commitment from Wells Fargo

  • Northland Power raised €690 million in non-recourse debt refinancing for its onshore wind and solar assets in Spain. The senior debt package, provided by CaixaBank, will aid Northland to refinance and restructure the debt associated with a 551MW portfolio of projects across Spain

December 2022

Latest Reports