Asset manager AIP Management acquired a 49% stake in a 2.4GWh UK battery portfolio from BW ESS in a transaction valued at over £650 million. The portfolio, with a total capacity of 700MW and a 3.5-hour duration, comprises three projects: the 100MW Bramley project, the 400MW Hams Hill project, and the 200MW Berkswell project. The Bramley project commenced operations in February 2025, while the remaining projects are under construction. The acquired stake will be held through a newly formed entity, AssetCo, with BW ESS retaining the remaining 51% once customary approvals are completed
Copenhagen Infrastructure Partners (CIP) agreed to sell a 50% stake in the 500MW Coalburn 2 battery energy storage project in southern Scotland to energy-focused investor AIP Management. The transaction will take effect upon the project’s commissioning. Located in South Lanarkshire, the lithium-ion battery system is scheduled to become operational in 2027 and will be supported by a 10-year optimisation agreement with SSE, as well as a 15-year capacity market contract. The financial details of the transaction have not been disclosed
Portuguese utility EDP Energias de Portugal SA announced that its renewables subsidiary, EDP Renováveis SA (71.3% owned by EDP), completed the sale of its 49% stake in a 1.6GW US renewable portfolio. The transaction, valued at an estimated enterprise value of $2.9 billion for 100% of the portfolio, was made to a fund managed under the Ares Infrastructure Opportunities strategy. The portfolio comprises ten assets, including 1GW of solar, 402MW of wind, and 200MW of storage, across four US markets. Five of the assets are operational, while the remaining five are under construction, with commercial operations expected by 2026
Financing Deals
US renewable energy services provider SunStrong Management raised $900 million to refinance a large portfolio of residential solar assets developed by SunPower. The financing was structured as an asset-backed securitisation (ABS) backed by a 528MW solar portfolio spanning 18 states, currently managed by SunStrong. ATLAS SP Partners acted as the sole structuring agent and joint bookrunner for the transaction
Recurrent Energy, a subsidiary of Canadian Solar Inc., secured $825 million in construction financing and tax equity to develop two projects in Arizona — the 600MWh Desert Bloom standalone energy storage facility and the 150MW Papago Solar power plant. Construction financing was provided by Nord/LB, Mitsubishi UFJ Financial Group (MUFG), CoBank, and Siemens Financial Services, while Wells Fargo contributed the tax equity. Both projects, located in Maricopa County, are under construction and are expected to become operational in the first half of 2026
German residential solar and heating solutions provider Enpal secured approximately €700 million to accelerate the expansion of its services. The financing was structured through an asset-backed securities (ABS) warehouse arranged with M&G and is supported by €600 million in senior lending from Citi, Barclays, Bank of America, and Crédit Agricole CIB
Fund Raisings
Infrastructure investor Brookfield Asset Management completed the final close of its second energy transition fund, raising $20 billion from both existing and new investors. Brookfield Global Transition Fund II (BGTF II) is designed to invest in business transformation, clean energy, and sustainable solutions across North America, South America, Europe, and the Asia-Pacific regions. Norges Bank Investment Management (NBIM), Norway’s sovereign wealth fund, contributed $1.5 billion, while private climate investor ALTERRA committed $2 billion. The fund has also secured approximately $3.5 billion in co-investments, bringing total capital raised to $23.5 billion
French investment firm Ardian raised $20 billion for its latest infrastructure platform, targeting essential infrastructure across Europe, including renewable energy and energy transition projects. The platform, comprising Ardian Infrastructure Fund VI (AIF VI) and associated co-investments, reached a $13.5 billion hard cap for the main fund, 90% higher than its predecessor. Investments will focus on three core sectors: energy, transport, and digital infrastructure
