Weekly renewables M&A round-up (May 13-17)

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Renewables Now covered M&A stories about OX2, AES Brasil, GreenYellow, Carlyle, and others this week. Below is the full list:

-- Columbus to shed 28.1 MW of shovel-ready PV parks in Poland

Polish photovoltaics (PV) installer Columbus Energy SA has sealed a preliminary agreement to unload a 28.1-MW portfolio of ready-to-build solar projects at home to a unit of domestic sector player GoldenPeaks Capital Group.

Read more: https://renewablesnow.com/news/columbus-to-shed-281-mw-of-shovel-ready-pv-parks-in-poland-857429/

-- NextEnergy PV-storage fund steps in Poland with 66-MW purchase

London-based NextEnergy Capital today said that its fifth investment fund has stepped on the Polish market by acquiring 65.6 MW of renewable energy capacity.

Read more: https://renewablesnow.com/news/nextenergy-pv-storage-fund-steps-in-poland-with-66-mw-purchase-857440/

-- EQT makes USD-1.5bn cash bid for renewables developer OX2

Swedish private equity firm EQT AB announced a recommended offer to acquire compatriot renewables developer OX2 AB.

Read more: https://renewablesnow.com/news/eqt-makes-usd-15bn-cash-bid-for-renewables-developer-ox2-857449/

-- Acciona Energia buys 80% stake in Philippine firm Freya Renewables

Spain’s Acciona Energia has acquired an 80% stake in Freya Renewables, a Philippine renewable energy consultancy, to expand its presence in the Philippines.

Read more: https://renewablesnow.com/news/acciona-energia-buys-80-stake-in-philippine-firm-freya-renewables-857495/

-- French retailer Casino agrees exit from renewables firm GreenYellow

French retailer Casino Guichard Perrachon SA said it has reached an agreement to sell its remaining minority stake in domestic renewable energy company GreenYellow, which it founded in 2007, for net proceeds of about EUR 46 million.

Read more: https://renewablesnow.com/news/french-retailer-casino-agrees-exit-from-renewables-firm-greenyellow-857496/

-- GE Vernova warns investors about underpriced mini-tender offer

GE Vernova called upon its shareholders to reject an unsolicited “mini-tender” offer launched by Canadian asset manager TRC Capital that targets a shareholding of about 0.4% in the US-based energy company.

Read more: https://renewablesnow.com/news/ge-vernova-warns-investors-about-underpriced-mini-tender-offer-857498/

-- Schroders Greencoat, Innova JV buys 28.7-MWp solar project in UK

ISG Renewables, a joint venture of renewable energy company Innova and a fund managed by Schroders Greencoat LLP, has added to its portfolio a 28.7-MWp solar project in the West Midlands region of England.

Read more: https://renewablesnow.com/news/schroders-greencoat-innova-jv-buys-287-mwp-solar-project-in-uk-857531/

-- Masdar gets EU nod for bet on US renewables developer Terra-Gen

The European Commission (EC) cleared without conditions Abu Dhabi-based renewables developer Masdar’s agreement to take a 50% stake in peer Terra-Gen which operates about 2.4 GW of wind and solar assets throughout the US.

Read more: https://renewablesnow.com/news/masdar-gets-eu-nod-for-bet-on-us-renewables-developer-terra-gen-857534/

-- Idemitsu, others invest USD 164m in e-fuels producer HIF Global

HIF Global, a developer of e-fuel projects in the US, Australia, and Latin America, announced today it has obtained USD 164 million from existing shareholders and Idemitsu Kosan Co Ltd.

Read more: https://renewablesnow.com/news/idemitsu-others-invest-usd-164m-in-e-fuels-producer-hif-global-857539/

-- Statkraft starts sale of Canada, Aussie assets from Enerfin deal - report

Norwegian renewables company Statkraft AS has launched the search for buyers of certain assets of Enerfin ahead of the formal close of its acquisition of the Spanish wind and solar developer.

Read more: https://renewablesnow.com/news/statkraft-starts-sale-of-canada-aussie-assets-from-enerfin-deal-report-857550/

-- Aquila European Renewables' shareholders block merger option

The shareholders of Aquila European Renewables plc have voted against the option to potentially combine the company with another listed investment firm "by way of a section 110 scheme of reconstruction under the Insolvency Act 1986," it was disclosed.

Read more: https://renewablesnow.com/news/aquila-european-renewables-shareholders-block-merger-option-857653/

-- Mirova buys solar project with storage potential on Spanish island

French sustainable investment manager Mirova, an affiliate of Natixis Investment Managers, has acquired a solar project of nearly 60 MWp plus potential additional up to 30 MW/120 MWh of storage in the Balearic Islands, Spain.

Read more: https://renewablesnow.com/news/mirova-buys-solar-project-with-storage-potential-on-spanish-island-857779/

-- AEP to raise USD 315m from sale of distributed resources business

American Electric Power has agreed to sell its distributed resources business, AEP OnSite Partners (OnSite), in a transaction that is expected to generate about USD 315 million in net proceeds for the electric utility.

Read more: https://renewablesnow.com/news/aep-to-raise-usd-315m-from-sale-of-distributed-resources-business-857807/

-- Battery materials firm Mitra Chem attracts Alpha Wave as new backer

US lithium-ion battery materials firm Mitra Future Technologies Inc, or Mitra Chem, announced it has received an investment from Alpha Wave Ventures as part of its Series B funding round.

Read more: https://renewablesnow.com/news/battery-materials-firm-mitra-chem-attracts-alpha-wave-as-new-backer-857871/

-- Auren, AES Brasil merger to create 8.8-GW renewables giant

Brazilian energy group Auren Energia SA has agreed to merge with AES Brasil Energia SA and thus create a platform with 8.8 GW of renewable energy assets, it was announced.

Read more: https://renewablesnow.com/news/auren-aes-brasil-merger-to-create-88-gw-renewables-giant-857922/

-- Italy trims stake in Eni for EUR 1.4bn

The Italian ministry of economy and finance announced that the state has sold a stake of about 2.8% in Eni SpA, the local oil and gas major that has been actively building a portfolio of renewable assets over the past years.

Read more: https://renewablesnow.com/news/italy-trims-stake-in-eni-for-eur-14bn-857957/

-- GreenYellow gets hold of 120 MWp of solar assets in Portugal, Poland

French renewable energy company GreenYellow is acquiring nearly 120 MWp of decentralised solar assets, either ready-to-build or already operational, through the merger of its Portuguese unit with sector player Grow Energy Management (GEM), it was announced.

Read more: https://renewablesnow.com/news/greenyellow-gets-hold-of-120-mwp-of-solar-assets-in-portugal-poland-857968/

-- Carlyle backs Sungage with USD-450m forward flow agreement

US residential solar financing company Sungage Financial and global investment firm Carlyle announced a strategic partnership that will help Sungage Financial boost its origination capacity and scale.

Read more: https://renewablesnow.com/news/carlyle-backs-sungage-with-usd-450m-forward-flow-agreement-858075/

-- Statkraft acquires Neoen's renewables portfolio in Croatia

Norwegian state-owned power company Statkraft AS has closed the acquisition of a project portfolio in Croatia from French renewables firm Neoen SA after securing all regulatory approvals.

Read more: https://renewablesnow.com/news/statkraft-acquires-neoens-renewables-portfolio-in-croatia-858093/

-- SEB’s renewables arm buys hydro, hybrid power assets in Nordics

SEB Nordic Energy unveiled the latest additions to its portfolio, including a hybrid wind and solar park with an annual output of 17 GWh in Finland and a 250-GWh hydropower portfolio in Norway.

Read more: https://renewablesnow.com/news/sebs-renewables-arm-buys-hydro-hybrid-power-assets-in-nordics-858097/

-- Solutions30 invests in French solar firm So-Tec

Luxembourg-based technology services company Solutions 30 SE announced the acquisition of a 10% stake in So-Tec, a French solar firm with which it works regularly "in synergy".

Read more: https://renewablesnow.com/news/solutions30-invests-in-french-solar-firm-so-tec-858101/

-- Uniper inks deal to buy 20.4-MW solar project in Poland

German energy group Uniper SE said it has signed a share purchase agreement with Warsaw-listed renewables firm Photon Energy NV to acquire a 20.4-MW solar photovoltaic project in Poland.

Read more: https://renewablesnow.com/news/uniper-inks-deal-to-buy-204-mw-solar-project-in-poland-858105/

-- Brookfield seeks control over India's Leap Green - report

Brookfield Asset Management is looking to acquire a majority stake in Indian renewables company Leap Green Energy Ltd, which is currently owned by its founding family and US investor The Rohatyn Group (TRG), Bloomberg reported, citing insiders.