October 2024

US retail electricity and power generation company Vistra Corp agreed to acquire the remaining 15% stake in its subsidiary Vistra Vision LLC, which houses its zero-carbon nuclear, energy storage and solar generation assets and its retail business, for an undiscounted purchase price of $3.2 billion. The minority shareholding in Vistra Vision LLC will be purchased from Nuveen Asset Management LLC and Avenue Capital Management II LP

Iberdrola announced that shareholders of Avangrid have approved its proposal to acquire the remaining 18% stake in the company for $2.6 billion. The deal will enhance Avangrid’s ability to swiftly secure additional financial resources

Netherlands based hydrogen products company OCI Global signed a deal to sell its entire Global Methanol Business, referred to as OCI Methanol, to Vancouver based Methanex Corporation for $2.1 billion on a cash-free and debt-free basis. The transaction includes OCI’s interest in two world-scale methanol facilities in Beaumont, Texas

Kibo Energy signed a binding term sheet with Swiss company ESGTI to acquire a diverse portfolio of renewable energy projects. The strategic move, known as a reverse takeover, will see Kibo Energy expanding its reach across Europe and Africa, targeting a generation capacity of 20GW within six years. Valued at $445 million, the deal with ESGTI is being facilitated by Aria Capital Management

The European Commission cleared an agreement reached by CK Infrastructure Holdings Ltd and CK Asset Holdings Ltd to acquire some of the onshore wind assets owned by Aviva Plc’s asset-management arm in the UK. The £350 million deal was agreed upon in mid-August and concerns 32 operating onshore wind farms with a combined installed capacity of 175MW

Greenvolt Group reached an agreement with Nuveen Infrastructure to sell a 153MW solar portfolio distributed across various regions of Italy. The deal, worth €18.7 million, is for a total of 19 projects which are expected to reach ready-to-build between 2024 and 2025

Canada’s Brookfield Asset Management closed a $2.4 billion funding round for the UAE-backed Catalytic Transition Fund (CTF) to boost climate finance in emerging markets. The Catalytic Transition Fund is anchored by a $1 billion commitment from Alterra fund set up by the UAE during COP28. The new investment partners are Caisse de dépôt et placement du Québec (CDPQ), GIC, Prudential, and Temasek, among others

Golding Capital Partners secured €212 million in capital commitments for its Golding Infrastructure Co-Investment 2023 fund, achieving over a third of its target volume. This third-generation fund, part of a successful investment strategy, attracted subscriptions from insurance companies, pension schemes, pension funds, churches, and savings banks

Octopus Energy Generation announced a £2 billion investment in UK renewable energy projects by 2030, emphasising solar capacity with 222MW in the pipeline. The investment encompasses the development of four new solar farms by BayWa r.e. in various UK locations. Construction on three of the facilities is set to commence towards the end of 2024 with the fourth beginning in 2025

Twelve announced $645 million in funding to transform CO2 into Jet Fuel and E-Chemicals at Scale. This raise is a strategic mix of capital which includes $400 million in project equity led by TPG Rise Climate, $200 million in Series C financing, and an additional $45 million in credit facilities from leading funders in the renewable energy sector marking this as one of the largest financing rounds to date in the e-fuels space

IPP Clearway Energy Group closed $550 million in financing for a solar-plus-storage project in California, US. Construction of the Rosamond South I project, located in Kern County, has already started, which will pair 140MW of PV with a 118MW battery energy storage system. Construction financing has been secured by 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