December 2024

Mirova and BNP Paribas Asset Management agreed to invest more than €200 million to become shareholders in Arkolia and support the growth of the local green power producer targeting a portfolio of nearly 1.5GW in the coming years. Each of the two investors will take “an equal, large equity stake” in the business from Arkolia

Energy Infrastructure Partners will boost its shareholding in Plenitude, the renewable energy platform of Italian oil and gas major Eni SpA, by further investing €209 million. The Swiss investment company, which already holds 7.6% of Plenitude’s stock, will reach a combined stake of 10% with the new funding commitment

Global investment firm KKR acquired Encavis, a German independent power producer and renewable energy developer. Leading a consortium of investors via a holding company, Elbe BidCo, KKR acquired 87.41% of outstanding shares in Encavis at €17.50 per share. Family-run investor Veissmann Generations Group and ABACON Capital were the other two parties in the consortium.

FREYR Battery took a turn to US solar manufacturing by announcing a deal to acquire Trina Solar Co Ltd’s 5GW solar module factory in Wilmer, Texas, US, which just started production. The Chinese module manufacturer will receive $340 million. FREYR’s ambition is to establish a vertically integrated US solar manufacturing footprint and plans to build a 5GW solar cell plant

Montreal based Axium Infrastructure agreed to buy a 49% stake in two operational wind farms in Canada which are owned by local power producer Capital Power Corp and have a combined capacity of 246MW. Capital Power Corp expects to gain about €323.1 million in proceeds from the sale

Acciona Energia expanded its renewables portfolio in the US with the acquisition of two new wind farms with a total capacity of 300MW. The deals involve the Green Pastures 1 (150MW) and Green Pastures 2 (150MW), located in Baylor and Knox Counties, in north-central Texas. The projects, acquired for $202.5 million, are fully operational and were purchased from various private asset management entities

US investment firm Neos Partners secured $1.72 billion to invest in operating companies in North America that are active in renewable energy, power grid, infrastructure, data centre and energy-intensive industrial sectors. The San Diego, California-based firm received commitments for $1.37 billion after the final close of its second energy transition and critical infrastructure fund, Neos Partners II. It has also closed a $350 million committed co-investment vehicle alongside the fund

Iberdrola SA signed an agreement with the European Investment Bank to obtain a €500million loan for the development and expansion of smart grids in Spain. The funds will be granted under the Regional Resilience Fund (RRF)

Pivot Energy announced a $450 million debt financing and a structured equity investment deal that will support the construction of 300MWdc of solar projects, mostly distributed generation. In a deal with First Citizens Bank and ATLAS SP Partners, Pivot Energy will receive a debt warehouse facility of $450 million. The funding transaction was also supported by the company’s existing lenders Bank United, Comerica, and Cadence Bank

Naturgy Energy Group SA signed an agreement to borrow €400 million from the European Investment Bank (EIB) as the first tranche of a €1billion loan to support investments in renewables in Spain. The funds would be spent on new solar photovoltaic and onshore wind projects, repowering and hybridisation of existing plants, and to a lesser extent on battery energy storage

Equitix secured €271 million in financing from Banco Santander for the refinancing, construction, and development of a portfolio of wind projects hybridized with solar and battery storage systems. This is the first financing of a hybridisation that combines three technologies, wind, solar and battery storage, in Spain. The aggregate capacity of the portfolio is more than 326MW and will allow substantial savings in CO2 emissions