Energy Perspectives

MERGERS & ACQUISITIONS

• NextPower entered into an agreement to acquire Prevalon Energy, a US-based battery energy storage company, for a consideration of up to $365 million comprising cash and shares. Prevalon, a joint venture between Mitsubishi Power Americas and EES, specialises in battery energy storage systems and related energy storage technologies

• NextEra Energy Inc and Dominion Energy Inc have agreed to merge in an all-stock transaction to create the world’s largest regulated electric utility business by market capitalization. Dominion shareholders will receive 0.8138 shares of NextEra per Dominion share, with the combined company serving around 10 million customers and owning 110GW of generation capacity including renewables, gas, and nuclear power, and Dominion shareholders will receive a one-time cash payment of $360 million at closing along with $2.25 billion in bill credits over two years for customers in Virginia, North Carolina, and South Carolina

• Copenhagen Infrastructure Partners (CIP) acquired Ørsted A/S’s European onshore renewables business and launched it as a new company named Perigus Energy. The deal was worth €1.44 billion ($1.69 billion) and includes 826MW of operational and under-construction capacity cross

• Ireland, Germany, the United Kingdom, and Spain, with a multi-gigawatt development pipeline and ongoing projects supported by government schemes and corporate power purchase agreements

Financing Deals

• MN8 Energy raised financing by expanding and extending its corporate credit facility to support growth in renewable energy generation and storage projects. The financing, led by JPMorgan Chase as lead arranger and bookrunner with Wells Fargo as joint lead arranger and other banks as co-syndication agents, is a $650 million corporate credit facility with a maturity extended to 2030, including revolving borrowing capacity and performance letters of credit

• 1Komma5 Grad raised financing to support renewable energy projects on public buildings in Germany. Deutsche Bank and NORD/LB structured the financing, which is an up to €500 million scheme including equity and debt capital, initially applied in Lower Saxony with a €25 million financing mandate from NORD/LB

Fund Raisings

• Copenhagen Infrastructure Partners (CIP) raised the Advanced Bioenergy Fund II (ABF II), a bioenergy fund dedicated to expanding biomethane and bioenergy production across Europe. The fund targets €1.5 billion to support new industrial-scale biogas plants using anaerobic digestion technology, focusing on greenfield initiatives in Denmark, Ireland, Spain, Belgium, and Finland, with the European Investment Fund committing €200 million