September 2024

Quantum Capital Group announced its intention to acquire Cogentrix Energy, for an estimated $3 billion. This acquisition is set to be executed from funds managed by Carlyle Group. Cogentrix, which was acquired by Carlyle from Goldman Sachs in 2012, manages a diverse portfolio comprising over 70 assets, including gas, coal, solar, and other renewable energy facilities

Harrison Street made a $300 million investment to acquire a 33.33% ownership interest in CPV Renewable Power LP, the renewables affiliate of Competitive Power Ventures Group. This transaction grants Harrison Street a significant stake in CPV’s US-based wind and solar assets, which collectively amount to 700MW

LS Power completed the acquisition of Algonquin’s renewable energy assets, encompassing over 3GW of operational capacity and an additional 8GW of projects in various stages of development. The transaction, valued at up to $2.5 billion, represents a notable strategic investment in LS Power’s renewable energy portfolio. These assets predominantly comprise wind and solar projects situated across the US and Canada

CK Infrastructure Holdings, a constituent of the business conglomerate owned by Hong Kong magnate Li Ka-shing, announced its intention to acquire 32 onshore wind farms situated in the UK from Aviva. A consortium spearheaded by Li’s infrastructure and energy enterprise formally entered into an agreement to procure the 175MW collection of operational wind farms in the UK from Aviva Investors, with the transaction valued at approximately £350 million

SAE Renewables, announced the acquisition of a 120MW/240MWh battery energy storage system project in Newport, South Wales from Enso Green Holdings Limited (EGHL), a joint venture between Cero Generation Ltd and Enso Energy Ltd. Under the deal’s terms, SAE paid EGHL an initial consideration of £299,000 for the acquisition of the development vehicle behind the project. An additional deferred payment of £3.85 million will be made available when the project achieves financial close

Investment manager Quinbrook Infrastructure Partners closed financing for its Net Zero Power Fund (NZPF), with $3 billion of new capital commitments focused on the renewable energy transition. The NZPF is Quinbrook’s third capital-raising project in 2024, and takes the total amount raised by its funds to over $4.3 billion. In the latest round of funding, the company attracted investors from Australia, Canada, Finland, Norway, Sweden, the UK and the US, from a mix of pension funds, sovereign funds and insurers

Clearway Energy Group closed a $550 million financing facility for a 140MW solar-plus-storage project in California from a bank consortium consisting of Société Generale, Australia and New Zealand Banking Group Limited, Siemens Financial Services, Commerzbank, CoBank, DNB Bank ASA and Nord/LB

Enfinity Global Inc., secured €500 million in financing that combined with project finance will fund the development and construction of 1.5GW of solar assets in Italy. The funding has been provided through an innovative club deal structure in partnership with leading investors including Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management and Queensland Investment Corporation. The financing also includes an accordion feature that would allow Enfinity to upsize to €800 million

Iberdrola secured a €500 million financing in the form of a green loan from ICO, Sabadell and HSBC to finance 897MW of renewables capacity in Italy, the US and Australia. The loan is insured by Cesce, through its Green Investment Policy and coverage is provided on behalf of the Spanish State, with assistance from the Internationalization Risk Reserve Fund, which is part of the Spanish Ministry of Economy, Trade and Enterprise

BrightNight secured a $440 million investment from Goldman Sachs. The investment is designed to support BrightNight’s five-year growth plan and accelerate the execution of its 31GW project portfolio, powered by its AI platform, PowerAlpha