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January 2024

Monthly Market Update

Notable Mergers & Acquisitions and Asset Transactions


  • Macquarie Asset Management, the asset management arm of Australian financial services giant Macquarie Group Ltd, acquired a 50% stake in Enel Green Power Hellas from Italian utility group Enel SpA for a total equity consideration of $278 million. Enel Green Power Hellas has a 566MW portfolio in operation or under construction, comprising 59 operational wind, solar, and hydroelectric power plants with a combined capacity of 482MW and six under-construction solar projects totaling 84MW


  • Danish wind turbine maker Vestas Wind Systems A/S divested an onshore wind portfolio with a combined capacity of 656MW to PLT Energia for an undisclosed sum in Italy. PLT Energia is owned by Plenitude, the renewables arm of Italian oil and gas major Eni SpA, and a long-term customer of Vestas

  • Acciona Energia is to divest a renewable portfolio comprising onshore wind and solar with a combined capacity of 680MW in Italy. The deal is valued at $547 million. The portfolio comprises 16 operational wind farms with a combined capacity of 308MW and 372MW of solar projects under development. The name of the buyer remain undisclosed

  • Brazilian investment manager Patria Investimentos agreed to acquire an onshore wind portfolio comprising 4 wind farms with a combined capacity of 600MW from London-based power producer ContourGlobal. The portfolio comprises the Asa Branca, Chapada I, Chapada II and Chapada III wind farms. Out of the four, 2 are wholly owned by ContourGlobal, while in the other two alongside Contour, Brazilian utility Eletrobras holds a minority stake of 49% in each. The financial details of the transaction remain undisclosed

  • Latin American power company AES Andes SA reached an agreement to divest a 49% stake in its 693MW renewables portfolio to Global Infrastructure Partners for an amount of $441 million in Chile. The acquisition comprised the stakes in the Bolero Solar, Andes Solar IV, San Matias Wind projects, expansions of Andes Solar II A and Andes Solar II B plants and a battery storage system for Andes Solar II A

Notable Fund Raisings & Project Finance Transactions


  • Copenhagen Infrastructure Partners is to launch a new fund, Growth Markets Fund II, that will seek to raise $3 billion with the aim of enabling more than 10GW of renewable power capacity and is expected to be the world’s largest fund focused on greenfield renewable energy investments in high growth, middle-income markets. The fund will focus on developing and building offshore and onshore wind, solar PV, energy storage, and Power-to-X projects in selected high-growth middle-income markets across Asia, Latin America, and EMEA

  • Bluefield Partners LLP, a London-based investment advisor focused on solar assets, and Spanish asset manager Arcano Capital SGIIC SAU announced the final close of their Italian vehicle Bluefield Revive Italia I Srl. The innovative vehicle has reached its hard fundraising target of $108 million


  • Acciona Energia secured $817 million in financing in the form of green loan to support its renewable energy projects. In the transaction, Caixa Bank SA served as the sustainability coordinator of the loan along with 30 other Spanish and international financial institutions

  • Pattern Energy Group LP received $11 billion in financing in the form of loan facilities for SunZia Transmission and SunZia Wind, described as the biggest clean energy infrastructure project in the US. The financing comprised a $8.8 billion construction and term loan facility and a $2.3 billion tax equity term loan facility. The transaction was participated by a large no of lenders including BNP Paribas, Credit Agricole and Banco Santander, among others

  • US renewable power developer energyRe secured $1.2 billion in financing to fund a number of clean power projects, including solar-plus-storage and transmission and distribution work in the US. The name of the financier remain undisclosed

  • Global independent solar power producer Sonnedix Holdings secured $539 million in financing for the construction of renewable energy projects in Europe and the UK. The financing was provided by BBVA, CIBC, Natwest, Rabobank, Banco Sabadell and Santander Corporate and Investment Banking.

January 2024

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