Squadron Energy, an Australian energy company, has announced that it has acquired CWP Renewables (CWP) for an undisclosed fee. With more than 1.1 GW of operational wind assets, CWP is a corporation that specialises in wind, solar, and battery farms. The Sapphire Wind Farm in New South Wales is one of its asset holdings; it has 75 turbines and the ability to generate up to 270 MW of clean energy.
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RWE, a German energy corporation, has acquired the Irish firm Western Power Offshore Developments for an unknown sum. The East Celtic Wind Farm project, located 10 km offshore between Wexford and Waterford in Ireland, is currently in the planning phases and is being developed by Western Power Offshore Developments.
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Octopus Energy Generation, a British energy firm, has announced that it has acquired Zestec Renewable Energy, a solar developer and asset manager in the UK. Zestec has more than 160 MW of solar capacity in the country, which will be sold to the companies through power purchase agreements.
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Sembcorp Industries announced that its wholly-owned subsidiary, Sembcorp Green Infra Limited has signed an agreement with India Infrastructure Fund II, a fund managed by Global Infrastructure Partners India Private Limited. This agreement intends to acquire 100 per cent interest in Vector Green Energy Private Limited for a base equity consideration of approximately Rs 27.8 billion.
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DIF Capital Partners, a Dutch investment management company, has agreed to pay €150 million for the majority of the shares of Swedish solar company Alight. The investment company will acquire the stake by acquiring a number of existing shareholders in a secondary buyout.
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Sandbrook Capital, a private investment firm, has purchased a large position in Havfram, a Norwegian offshore wind services firm. In addition to purchasing a stake, Sandbrook Capital has committed a $250 million investment to assist Havfram’s future expansion.
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RWE, a German energy company, has agreed to acquire all of Con Edison Clean Energy Businesses (Con Edison CEB) for $6.8 billion. Con Edison CEB, based in Valhalla, New York, operates and develops renewable energy plants around the US. The company has around 3 GW of operational capacity, with solar projects accounting for 90 per cent of the total.
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Aegis Renewable Energy has signed a non-binding letter of intent to be acquired by US-based energy technology company Correlate Infrastructure Partners. The agreement aims to expand Correlate’s market share in the US North-East renewables market. Aegis is based in Vermont and provides engineering, procurement, and construction (EPC) services for solar assets in the eastern US.
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Indian conglomerate Reliance Industries Limited (RIL) has signed definitive agreements to obtain a significant stake in SenseHawk for a total transaction value of $32 million. The transaction includes funding for future growth, product commercialisation, and research and development. The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete before end 2022.
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Greencoat UK Wind (UKW), a British investment company, has completed the acquisition of a 12.5 per cent stake in the 1.2 GW Hornsea One offshore wind farm. In May 2022, UKW and Global Infrastructure Partners (GIP) reached an agreement for UKW to acquire the stake in the offshore wind facility from GIP for a cash payment of $490 million. Hornsea One, which is 128 km off the coast of Yorkshire in the North Sea, is jointly owned by Ørsted and GIP.
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RWE, a German energy company, has acquired Alpha Solar, a Polish PV development company with a 3 GW utility-scale solar project pipeline. Alpha Solar, a Warsaw-based company, has professionals on staff who work on every step of the solar development process, from land acquisition to preparing it for construction. The company has three local offices in Inowrocaw, ód, and Rzeszów.
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Octopus Energy Group, based in the UK, has purchased a 24 per cent stake in Exagen, a large-scale battery developer, through its new renewables fund, Octopus Energy Development Partnership (OEDP). OEDP is a €220 million renewables fund that will invest in Exagen to assist in the creation of large-scale solar and battery facilities in the UK.
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Japanese utility company JERA, through its subsidiary JERA Asia, has agreed to purchase a 35.1 per cent stake in Gia Lai Electricity (GEC), a Vietnam-based renewable energy company. For an undisclosed sum, JERA will purchase the stake from Armstrong South East Asia Clean Energy Fund and International Finance Corporation (IFC). GEC, a subsidiary of TTC Group, has a portfolio of renewable energy projects with a combined capacity of around 600 MW, including hydro, solar, and wind power plants.
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Energie Baden-Württemberg (EnBW), a German energy company, sold its 49.9 per cent stake in a portfolio of 597 MW solar projects to Alte Leipziger Hallesche Insurance Group (ALH Group). The solar portfolio consists of 16 solar power parks spread over several German states, including Saxony, Baden-Württemberg, Mecklenburg-Western Pomerania, Baden-Württemberg, and Rhineland-Palatinate.
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Iberdrola, a Spanish energy company, and Augusta Energy have reached a tentative agreement for Iberdrola to purchase a 98 MW wind and solar portfolio in Poland. The portfolio consists of six solar photovoltaic facilities with a combined capacity of 48 MW and two wind farms with a combined capacity of 50 MW.
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EDP is planning to give its largest shareholder, China Three Gorges (CTG), a 50 per cent stake in the $500 million San Gaban III hydroelectric project in Peru. As per the reports, CTG already owns the other 50 per cent of San Gaban, and will acquire the sole shareholder of this hydroelectric facility. San Gaban dam has a capacity of 206 MW. This hydropower plant received a $365 million, 19-year financing from the China Development Bank at a cost of $560 million.
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PNE, a German wind farm developer, has entered the Spanish renewable market by acquiring a 51 per cent stake in Coliaenergia ESPAÑA (Kolya), a developer of large-scale solar projects. PNE’s photovoltaic (PV) pipeline has expanded by more than 40 per cent to a total of 4.22 GWp by acquiring the shares and Kolya’s pipeline of 1.81 GWp PV projects.
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Ørsted has agreed to acquire Ostwind, which includes a 100 per cent equity stake in OSTWINDpark Rotmainquelle, OSTWIND International, and OSTWIND Engineering. Ostwind develops, owns, and operates onshore wind and solar projects in Germany and France. OSTWIND Erneuerbare Energien, With the financial obligations of the projects and companies included, the agreement provides Ostwind an enterprise valuation of €689 million.
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In order to fully control the energy utility company EDF, the French government has stated its intention to buy out the company’s remaining stakes. The French finance ministry announced in a statement that it has made an offer to purchase the final 16 per cent stake in EDF for $9.85 billion in total or $12.26 for a share. Currently, 84 per cent of the business is owned by the government.
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CLP, a chinese power company, has agreed to sell an additional 10 per cent share in India-based Apraava Energy to Canadian investment company Caisse de dépôt et placement du Québec (CDPQ) for Rs 6.6 billion. After purchasing a 40 per cent investment in Apraava Energy in 2018, CDPQ now has a 50 per cent stake in the independent power producer.
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