Weekly renewables Merger and Acquisition round-up from February 26 to March 5 2018

Below you can find a list of stories related to merger and acquisition (M&A) and asset purchase/divestiture deals covered by RenewablesNow in the week February 26 – March 5 2018:

— Philippine’s Ayala takes majority stake in US solar equipment maker

Philippine diversified group Ayala Corp (PSE:AC) has acquired a controlling stake in California solar products maker Merlin Solar Technologies Inc in a deal seen to expand its presence in the global and domestic industrial technologies sectors.

— Renewables bring nearly a quarter of power & utilities deal value in 2017

Deals in the renewable energy industry globally have jumped in value by 57% to about USD 42.8 billion in 2017, according to a newly-released report by EY.

— Pattern Energy sets foot in Japan with 206-MW wind, solar deals

US wind power company Pattern Energy Group Inc (NASDAQ:PEGI) has agreed to buy a 206-MW portfolio of wind and solar power parks in Japan, thus marking its entry into one of the “most robust” renewable energy markets globally.

— ContourGlobal to buy Acciona’s Spanish CSP portfolio in EUR-1bn deal

ContourGlobal Plc (LON:GLO) announced today that it struck a deal with an enterprise value of EUR 962 million to acquire Acciona SA’s (BME:ANA) 250-MW solar thermal power portfolio in Spain.

— Palisade acquires remaining 50% of 148-MW solar project in Australia

Australia’s Palisade Investment Partners last week said it now owns 100% of the 148-MW Ross River solar project in Queensland after acquiring ESCO Pacific’s remaining 50% stake.

— Innogy reportedly draws interest from E.on, Macquarie

German energy group E.on SE (ETR:EOAN) and Australia’s Macquarie Group Ltd (ASX:MQG) may be viewing Innogy (ETR:IGY) as an acquisition target, according to a report by Boersen-Zeitung.

— Renova accepts Brookfield’s USD-200m offer

The board of Brazilian renewables firm Renova Energia SA (BVMF:RNEW11) has decided in favour of accepting the BRL-650-million primary contribution proposal from Brookfield Energia Renovavel SA.

— Blue Elephant Energy buys 9.23-MW wind farm in Germany

German firm Blue Elephant Energy AG (BEE) is the new owner of a 9.23-MW operational wind farm in the southwestern German state of Rhineland-Palatinate.

— Subsea 7 succeeds in negotiating Siem Offshore Contractors buy

UK-based contractor Subsea 7 SA has managed to reach an agreement on the acquisition of Siem Offshore’s cable lay business after failing to do so a few months back.

— Allete to sell 48-MW wind project to Montana-Dakota Utilities

Allete Clean Energy said it plans to sell the 48-MW second phase of the Thunder Spirit wind farm in North Dakota to Montana-Dakota Utilities (MDU).

— Malaysia’s TNB buys majority of FiT-based onshore wind portfolio in UK

Malaysian utility Tenaga Nasional Bhd (KLSE:TENAGA), or TNB, announced it has acquired an 80% interest in two renewable energy firms that own the largest feed-in tariff (FiT) onshore wind portfolio in the UK.

— Australian govt to acquire 100% of Snowy Hydro, paving way for Snowy 2.0

Australia’s federal government announced it will acquire the stakes of the New South Wales and Victorian governments in Snowy Hydro Ltd in a “historic” deal, set to pave the way for the Snowy 2.0 pumped hydro project.

— PNE Wind boosts stake in wind developer WKN to 89%

Germany-based PNE Wind AG (ETR:PNE3) has further lifted its shareholding in domestic wind developer WKN AG by acquiring the 6% stake of domestic utility Enercity.