Monthly Renewables M&A round-up, August 2019

By August 30, 2019Industry News

EnergyPowerLab covered M&A stories related to Atlantic Power Corporation, Alternus Energy, Denham Capital, SSE and others over the past month. Below is the full list of deals:

— EDP to sell 137-MW Brazilian wind farm to Actis

Portuguese utility Energias de Portugal SA (ELI:EDP) announced it has agreed to sell the 137-MW Babilonia onshore wind farm in the Brazilian state of Bahia to an affiliate of private equity investor Actis.

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— BayWa acquires Canadian solar equipment distributor

BayWa re renewable energy GmbH announced it is taking over Canadian solar distributor and service provider National Solar Distributors Inc as part of its ongoing expansion in North America.

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— Sentis, other shareholders want greater say in Meyer Burger’s plans

Meyer Burger Technology AG (SWX:MBTN) has been notified that its largest shareholder, Sentis Capital PCC, is now part of a group with a combined shareholding of over 10% which seeks greater involvement in strategic decisions.

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— Centrica takes steps towards lower carbon future, CEO to leave

UK energy services company Centrica plc (LON:CNA) is heading towards a lower carbon future with the announcement that it intends to exit oil and gas production by end-2020.

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— EDP completes divestment of 997-MW European wind portfolio

EDP Renovaveis SA (ELI:EDPR), part of EDP – Energias de Portugal SA (ELI:EDP), has concluded the sale of its interest in a 997-MW European wind portfolio to institutional investors advised by JP Morgan Asset Management.

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— Italy’s ACEA buys 25 MWp of solar capacity

Italian multi-utility company ACEA SpA (BIT:ACE) said it has acquired 25 MWp of solar power capacity in Italy with contracts secured under the Conto Energia incentive scheme.

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— Soltage purchases 14-MW portfolio of contracted solar assets

New Jersey-based renewables developer Soltage LLC said it has completed the acquisition of a 14-MW solar portfolio that will generate power for North Carolina utilities.

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— Power Energy Corp buys solar developer Nautilus

A subsidiary of diversified management and holding company Power Corporation of Canada (TSE:POW) has taken over US solar developer and asset manager Nautilus Solar Energy LLC, it was announced.

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— Alternus Energy plans buying 11.8-MW Dutch solar park from Unisun

Renewable energy firm Alternus Energy Inc (OTCMKTS:ALTN) intends to buy the owner of an 11.75-MW solar park in the Netherlands for USD 11.76 million.

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— Audax sheds stake in 58.6 MW of Spanish wind, solar to trim debt

Spanish renewable energy company Audax Renovables SA (BME:ADX) has formalised the sale of its stake in two companies that together hold 58.6 MW of wind and solar photovoltaic (PV) capacity in eastern Spain.

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— Denham Capital sells renewables IPP BioTherm Energy

Private equity firm Denham Capital said it has sold African independent renewable power company BioTherm Energy to emerging market investor Actis Capital for an undisclosed amount.

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— Capital Dynamics buys 180-MW solar project in Nevada

Swiss private asset manager Capital Dynamics said that its Clean Energy Infrastructure (CEI) business has bought the 180-MW/231-MW DC Townsite solar project in Boulder City, Nevada.

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— ABO Wind sells 450-MW wind, solar project portfolio in Spain

German renewables developer ABO Wind AG has sold certain wind and solar projects in Spain with a combined capacity of 450 MW to a couple of unnamed local investors.

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— Neoen buys 53.4 MW of Irish wind farms

French renewable energy firm Neoen said it has bought 53.4 MW of wind farms in Ireland for an enterprise value of around EUR 46 million.

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— MGE, WEC seeking nod to buy rest of 300-MW PV project in Wisconsin

Subsidiaries of MGE Energy Inc (NASDAQ:MGEE) and WEC Energy Group Inc (NYSE:WEC) are seeking approval to buy together the second 150-MW phase of a 300-MW solar project being developed by Invenergy LLC in Wisconsin.

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— RATCH buys 70% of Alinta’s 214-MW wind project in Western Australia

The 214.2-MW Yandin wind project in Western Australia, touted as the largest in the state, has attracted a new shareholder and is already under construction.

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— Malaysia’s Trive kills solar JV over US tariffs

Malaysian battery and energy storage company Trive Property Group Bhd (KLSE:TRIVE) has terminated its joint-venture (JV) agreement with China-based Jiangxi Fujing New Energy Technology Co Ltd (JFNET) due to the impact of the US safeguard tariffs on solar cell and module imports from Malaysia.

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— Singapore’s FinTeix to push solar cogeneration in Brazil

Singapore-based blockchain company FinTeix Pte Ltd has signed a memorandum of understanding (MoU) and formed a joint venture (JV) with Brazil’s ENIND Energia Ltd intending to bring new solar technology to the Brazilian market.

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— UK’s Quercus to shed 320 MW-portfolio of wind, solar – report

UK-based renewables investor Quercus Investment Partners Ltd is looking to sell its European portfolio consisting of 320 MW of wind and solar power assets, Reuters reported citing a knowledgeable source.

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— KGAL dumps 41 MW of Spanish solar farms

Germany’s KGAL Investment Management GmbH & Co KG has sold five solar photovoltaic (PV) farms in Spain with a combined capacity of 41 MW, taking advantage of the current investor demand.

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— Aquila European Renewables to buy 34.5-MW wind farm in Finland

Aquila European Renewables Income Fund plc (LON:AERS) unveiled on plans to acquire the owner of Finland’s li Olhava onshore wind farm and its extension totalling 34.55 MW of installed capacity.

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— Equinor to co-invest in 120-MW wind project in Argentina

Norwegian multinational Equinor ASA (NYSE:ENQNR) will subscribe to shares in the firm behind a 120-MW wind farm being constructed in Argentina, it announced on Tuesday.

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— Eco Wave Power, EDF incorporate JV in Israel

Eco Wave Power and the renewables arm of French utility EDF SA (EPA:EDF) have formally set up a 50/50 joint venture in Israel to develop a 100-kW pilot wave energy project.

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— Macquarie to buy owner of 400-MW German offshore wind farm

Macquarie Infrastructure and Real Assets (MIRA) announced it has agreed to acquire Ocean Breeze Energy, the company behind the 400-MW Bard Offshore 1 wind farm in the German part of the North Sea.

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— Galp Bioenergy to take Petrobras’ 50% in biofuel JV

Brazilian Galp Bioenergy BV is acquiring the shares it does not already own in Belem Bioenergia Brasil (BBB), the vegetable oil and biofuel business of state-run oil and gas giant Petroleo Brasileiro SA (BVMF:PETR4) or Petrobras.

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— LanzaTech to get USD-72m cash boost from Novo Holdings

Next-generation fuels producer LanzaTech will get a USD-72-million cash injection from Denmark’s Novo Holdings A/S, enabling it to expand its carbon recycling platform and speed up the commercialisation of its sustainable products.

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— Bioenergy DevCo receives USD-106m investment to grow in N America

US anaerobic digestion (AD) specialist Bioenergy Development Company (BDC) has secured a USD-106-million institutional investment from Newlight Partners LP.

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— Partners Group buys into 244-MW shovel-ready wind project in NSW

Swiss private markets investor Partners Group said it has purchased a stake of an undisclosed size in CWP Renewables’ 244-MW Bango wind project in New South Wales, Australia.

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— Macquire to buy 40% of 714-MW East Anglia One offshore wind project

Spain’s Iberdrola (BME:IBE) said it has agreed to sell a stake worth GBP 1.63 billion in the 714-MW East Anglia One offshore wind project in the UK to a unit of Australia’s Macquarie Group (ASX:MQG).

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— SSE says negotiating sale of retail unit to Ovo Group

UK utility SSE plc (LON:SSE) said it is holding talks to sell its energy services business to Ovo Group, but noted that a final decision has not been made yet.

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— IL&FS files for final approval of 874-MW wind sale in India

Infrastructure Leasing and Financial Services Ltd (IL&FS) has turned to The National Company Law Tribunal (NCLT) for final clearance to sell its 51% stake in an 874-MW wind portfolio in India to project partner Orix Corp (TYO:8591).

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— Bioenergy DevCo takes over Italian peer

US anaerobic digestion (AD) specialist Bioenergy Development Company (BDC) said it has acquired BTS Biogas, an Italian firm that develops, builds and manages biogas and biomethane plants.

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— Serbia’s Aqua Mont launches buyout bid for Hidrotehnika-Hidroenergetika

Serbian company Aqua Mont Service has launched a buyout bid for the 29.93% stake in energy and hydropower facilities builder Hidrotehnika-Hidroenergetika [BEL:HDRT] it does not own yet, it said.

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— CEZ plans to sell assets in Romania, Bulgaria, Poland, Turkey by end-2022

Czech energy group CEZ said that it is planning to sell its assets in Romania, Poland and Turkey and complete the sale of assets in Bulgaria by the end of 2022.

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— Pattern Energy confirms third-party interest

US wind power company Pattern Energy Group Inc (NASDAQ:PEGI) confirmed it has received third-party interest, but stressed there is no agreement or arrangement for any transaction at this point.

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— Greenbacker buys 9.3 MW of US solar from BNRG Renewables

New York-based Greenbacker Renewable Energy Company LLC said it has bought the rights to a 9.27-MW solar project portfolio in Oregon from a unit of BNRG Renewables Ltd.

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— AC Energy JV buys stake in 550 MW of Australian solar & storage

AC Energy, the energy arm of Philippines’ Ayala Corp (PSE:AC), and UPC Renewables have agreed to buy 51% in a 250-MW pumped hydro project and a neighbouring 300-MW solar scheme, both located in South Australia.

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— Thai Solar Energy to buy 5-MW solar park

Bangkok-based renewables company Thai Solar Energy PCL (BKK:TSE) said it plans to acquire the operator of a 5-MW ground-mounted solar park in Udornthani province.

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— Atlantic Power buys AltaGas stakes in 85 MW of US biomass plants

US power producer Atlantic Power Corporation (NYSE:AT) has closed the acquisition of AltaGas Ltd’s (TSE:ALA) equity interests in two biomass plants with a combined capacity of 85 MW.

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— PacifiCorp takes full ownership of 41-MW wind farm in Wyoming

US power company PacifiCorp has become the solar owner of a 41.4-MW wind park in Wyoming and will start a repowering aimed at lifting the plant’s output by 60%.

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— Softbank pours USD 110m in brick tower energy storage co Energy Vault

Japan’s SoftBank Group Corp (TYO:9984), through its SoftBank Vision Fund, has invested USD 110 million in energy storage company Energy Vault in a move marking its foray into the global energy storage market.

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— CADE okays Enel’s purchase of 378 MW of green projects in Brazil

Brazil’s Administrative Council for Economic Defense (CADE) has approved without restrictions the acquisition by the local unit of Italian utility Enel SpA (BIT:ENEL) of 378 MW of wind and solar projects held by Grupo Mario Araripe.

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— OX2 to sell 60 MW of Finnish wind projects to Infracapital

Swedish renewables developer OX2 has agreed to sell two pre-construction onshore wind projects in Finland totalling 60 MW to Infracapital, the infrastructure equity investment arm of M&GPrudential.

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— Ares invests in utility-scale solar developer Heelstone Energy

Ares Management Corporation (NYSE:ARES), through its Infrastructure and Power (AIP) strategy, has invested in utility-scale solar developer Heelstone Energy.

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— PowerGen buys micro-grid firm Rafiki Power from E.on

Pan-African micro-grid company PowerGen Renewable Energy has formally acquired E.on Off-Grid Solutions GmbH, which operates under the Rafiki Power brand in Africa.

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— ERG to buy 34-MW wind portfolio in Germany

Italian energy company ERG SpA (BIT:ERG) said it has agreed to acquire a portfolio of three wind parks in Germany with a combined capacity of 34 MW.

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— CPFL Energia’s board gives green light to buyout of renewables arm

The board of directors of Brazilian energy company CPFL Energia (BVMF:CPFE3) has approved the acquisition of State Grid Brazil Power Participacoes SA’s shares in CPFL Energias Renovaveis (BVMF:CPRE3).

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— Syzygy obtains USD 5.8m to develop renewables-powered chemical reactor

Syzygy Plasmonics Inc has raised USD 5.8 million in Series A funding to continue work on a photocatalytic chemical reactor that runs on light from renewable power rather than heat from burning fuel.

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— Capital Dynamics to buy 68-MW wind portfolio in N Ireland

Swiss private asset manager Capital Dynamics said that it has signed a deal to buy a 68-MW wind portfolio in Northern Ireland from Brookfield Renewable Partners.

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— GlidePath plans battery additions to newly acquired wind portfolio in Texas

US energy storage developer GlidePath Power Solutions said it has bought a 149-MW portfolio of distributed wind projects in North Texas, with plans to add batteries at their sites.

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— Gresham House’s storage fund grows portfolio with 5 MW buy

Gresham House Energy Storage Fund Plc (LON:GRID) has closed the acquisition of a 5-MW battery-only project in Wolverhampton for an enterprise value of GBP 3.5 million.

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— Axpo sells 70 MW of French wind farms to EB Erneuerbare

Switzerland-based utility Axpo announced it is selling four French wind farms with a combined capacity of 70.15 MW to EB Erneuerbare Energien Fonds Europa.

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— Statkraft takes over Scottish onshore wind developer Airvolution

Norwegian state-owned utility Statkraft AS has taken over UK onshore wind developer Airvolution Clean Energy Ltd, with plans to double in size its Glasgow office.

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— ALE, Giant Taiwan form JV to work on Formosa I Phase II

UK heavylift provider ALE has set up a joint venture with Giant Taiwan to deliver the onshore handling, transportation and storage of turbine foundations for the second phase of the 128-MW Formosa I offshore wind project in Taiwanese waters.

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— De Raj Group to buy 99 MWp of solar capacity in Europe

German renewable and conventional generation company De Raj Group AG (ETR: DRJ) plans to acquire a series of solar power plants in Europe with a combined capacity of 99 MWp.

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— Ormat sells membership interests in 48-MW geothermal plant

A subsidiary of Ormat Technologies Inc (NYSE:ORA) will receive up to USD 68.3 million from selling membership interests in a 48-MW geothermal plant in Nevada.

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— Encavis to enhance solar O&M ops with investment in Stern Energy

German wind and solar park operator Encavis AG (ETR:CAP) said it has bought a 30% stake in solar operation and management (O&M) firm Stern Energy SpA with 550 MW of servicing capacity.

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— Macquarie’s GIG buys 42-MW wind farm in Poland

Green Investment Group Ltd (GIG), owned by Macquarie Group Ltd (ASX:MQG), said it has acquired a 42-MW wind farm in Poland, making its first investment in the country.

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— Wind turbines installer Windhoist finds PE owner

UK-based private equity firm STAR Capital Partnership LLP said it has taken over wind turbine installation contractor Windhoist Holdings for an undisclosed sum.

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— Statkraft acquires EV charging co E-Wald in Germany

Norwegian state-owned utility Statkraft AS has taken over Bavaria-based firm E-Wald GmbH in a drive to bolster its position in the German electric vehicle (EV) charging market.

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— GIG unveils purchase of 47-MW Norwegian wind project

Green Investment Group Ltd (GIG), owned by Macquarie Group Ltd (ASX:MQG), said it has acquired a 47-MW wind project in Norway from Spanish Power.

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— AboitizPower to buy 39.4-MW wind farm in Vietnam

Philippine power company Aboitiz Power Corp (PSE:AP) said it had made arrangements to purchase the 39.4-MW Dam Nai Wind onshore wind farm in Vietnam in a move to expand to foreign markets.

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— Engie, Mirova get EC nod to jointly acquire Spanish solar co

The European Commission (EC) said it has approved the joint acquisition of Spain-based solar project company PSFV Palma del Rio SL by French investment manager Mirova and power utility Engie SA (EPA:ENGI).

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— Eletrobras concludes sale of stakes in 187 MW of wind farms to J Malucelli

Centrais Eletricas Brasileiras SA (BVMF:ELET3), or Eletrobras, announced it has concluded the transfer of its shares in 187 MW of wind farms in Brazil to J. Malucelli Project Manager and Risk Analysis Ltda.

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— Total snaps up French renewables co Vents d’Oc

French oil and gas major Total SA (EPA:FP) has acquired compatriot Vents d’Oc Energies Renouvelables — a renewable energy company with a project development portfolio of 200 MW, mostly wind.

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— Siemens, KEPCO get EC nod to join Norwegian wind project

The European Commission (EC) has given the thumbs up to the proposed acquisition of stakes in the Stavro Vind wind project’s owner in Sweden by Germany’s Siemens AG (ETR:SIE) and South Korea’s KEPCO.

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— Solar Integrated Roofing Corp makes series of purchases

Solar Integrated Roofing Corporation (OTCMKTS:SIRC) has taken the merger and acquisition (M&A) road in a drive to build a national footprint in the field of solar and roofing installation.

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— Morgan Stanley fund makes indicative proposal for Germany’s PNE

German renewable energy firm PNE AG (ETR:PNE3), which mainly focuses on wind power, has received an indicative non-binding takeover offer from Morgan Stanley Infrastructure Partners (MSIP).

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— Off-grid solar firm BBOXX raises USD 50m from Mitsubishi, others

BBOXX Limited, a London-based next generation utility that delivers solar home systems (SHS), has closed a USD-50-million Series D funding round led by Japanese trading major Mitsubishi Corporation (TYO:8058).

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— Italy’s PLC to take control of local unit of Schmack Biogas

Italian electrical infrastructure installer PLC SpA (BIT:PLC) announced it will take control of local biomethane supplier Schmack Biogas Srl.

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— Norway’s Scanship buys French Etia in waste-to-energy technology drive

Norwegian wastewater purifying company Scanship Holding ASA (FRA:213) agreed to purchase French thermal waste treatment engineering group Etia Ecotechnologies in a cash-and-stock deal worth EUR 19.7 million in a bid to increase its capacity.

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— Eolus hands over 36-MW Swedish wind farm to KGAL

Swedish wind project developer Eolus Vind AB (STO:EOLU-B) said it has finalised the 36-MW Sotterfallan wind farm and then transferred ownership of the asset to KGAL.

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— Sale of FRV’s Indian solar asset lags, other options sought – report

Spain-based Fotowatio Renewable Ventures (FRV) will likely look for a new buyer of its 135-MW solar project in India after delays in the negotiations with suitor Hero Future Energies Pvt Ltd, newspaper Mint reports.

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— Senvion makes final steps in M&A quest

Troubled wind turbine maker Senvion SE (ETR:SEN) said it has received “several advanced offers” for various core parts of its business but no suitors have so far emerged for its entire turbine business.

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— Vestas to sell majority stake in three wind power plants in Romania for 136 mln euro

Danish wind turbine manufacturer Vestas said it has entered into an agreement to sell 80% of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for 136 million euro.

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— CADE okays Total Eren’s acquisition of two Voltalia wind assets in Brazil

Brazil’s Administrative Council for Economic Defense (CADE) has approved without restrictions the acquisition by Paris-based independent power producer Total Eren SA of two wind projects held by the Brazilian unit of France’s Voltalia SA (EPA:VLTSA).

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— Adani Green to buy 205 MW Essel’s solar assets for USD 181m

Indian company Essel Infraprojects Ltd has agreed to offload 205 MW of operational solar assets from its 658-MW portfolio to Adani Green Energy, part of domestic conglomerate Adani Group.

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Source: RenewablesNow