Notable Mergers & Acquisitions and Asset Transactions
MERGERS & ACQUISITIONS
True Green Management LLC acquired a majority stake in Clean Choice Energy for an undisclosed sum in the US. Clean Choice currently has solar development pipeline of 300MW
ASSET TRANSACTIONS
Shell purchased 12 solar projects with a combined capacity of 1.1GW from Isemaren in Spain. Financial details of the transaction were not disclosed
European Energy North America agreed to sell its 350MW utility-scale solar project to Osaka Gas USA for an undisclosed sum in Texas, US. The project is expected to reach commercial operations in 2025
Naturgy Energy Group SA agreed to buy 12 wind farms with a combined capacity of 422MW and a 435MW pipeline of solar projects from Ardian in Spain. The enterprise value of the transaction is €650 million
Bruc Energy acquired 8 solar PV plants with a combined capacity of 444MW from Opdenergy for an undisclosed sum in Spain
ERG Spain entered into an agreement to acquire the 149MW Garnacha solar plant from IBV Solar Parks in Spain. The enterprise value of the transaction is €170 million, with an equity value of €81 million
Copenhagen Infrastructure Partners agreed to sell 2 onshore wind farms, the 155MW Fluvanna I and the 148MW Blue Cloud wind farm, to TC Energy in Texas, US. Financial details of the transaction were not disclosed
European Energy North America acquired a majority stake in 2 solar projects, namely, Sandy Hill Solar & Sand Dune Solar with a combined capacity of 700MW. The projects were acquired in a JV with Horus Energy
Notable Fund Raisings & Project Finance Transactions
FUND RAISINGS
TDK Ventures launched a $150 million fund namely, Fund EX1, to invest in energy and climate technology startups. The new fund will target early-stage investments in energy transition, electrification, and decarbonization across the US and Europe
PROJECT FINANCE TRANSACTIONS
SunPower secured a $550 million loan from KKR to finance its customer loans model. The financial package will also allow SunPower Financial, the company’s loan-based facility to adopt and install solar PV systems to continue its operations
Solek closed $379 million in financing from BNP Paribas and Natixis for its solar power portfolio in Chile. The financial package consisted of $178 million in senior private placement, $75 million in mezzanine debt, $55 million as PMGD bridge-loan facility, $37 million as utility-scale bridge loan, $19 million LC Facility, and $15 million in VAT line
Pulse Clean Energy secured a three-year $215 million credit facility from a syndicate of banks, including Santander, UK Infrastructure Bank, CIBC, and Investec. The financial package will be used by the firm to develop a 1GWh pipeline of BESS projects in the UK
Northland Power secured $800 million in financing for its 250MW Oneida energy storage project in Ontario, Canada
Low Carbon secured an additional £310 million in financing from ABN AMRO, ING, Commonwealth Bank of Australia, and Intesa Sanpaoloto to support the construction of 448MW of solar PV project in the UK and the Netherlands
Posigen LLC, a residential solar and energy efficiency solutions provider secured $250 million in financing from Brookfield Asset Management to back its future asset growth in Louisiana, US
