Solar Project M&A And Hot Solar Panels Summary Last Week (18th-22th Mar)

Recurrent Energy Expands Solar Pipeline in Spain with the Acquisition of a Portfolio exceeding 420 MWp

Recurrent Energy is a subsidiary of Canadian Solar. The company announced on March 20 that it will acquire a portfolio of solar photovoltaic projects in southern Spain with a capacity exceeding 420 MWp. The portfolio is located in the city of Carmona in Seville (Andalusia), consists of four projects: Rey I, II, III and IV, with a total capacity of more than 420 MWp. The projects, which are currently under construction, will utilize Canadian Solar's TopBiHiKu7 N-type bifacial TOPCon solar panel. The projects are expected to produce approximately 916,000 MWh of clean energy annually, serving the needs of more than 275,000 households in the region and reducing carbon dioxide emissions by approximately 184,000 tons.

Onde sells 23.1-MW Polish solar trio to German buyer

Polish company Onde SA has sold a 23.1MW portfolio of solar projects to German municipal utility SachsenEnergie. the portfolio consists of two projects, 18.7 MW and 4.4 MW. the sale price amounted to PLN 19 million. The sale price amounted to PLN 19 million, and an additional PLN 5 million may be paid once the projects are operational.

Chariot mulls options for S Africa-focused Transitional Power unit

Chariot, the AIM-listed Africa-focused Transitional Energy Group, announced that it is conducting a strategic review of Chariot's Transitional Power unit. The Transitional Power unit is focused on providing sustainable energy solutions in South Africa, including renewable energy generation projects and power trading.

Wickes to acquire Solar services business

UK home improvement retailer Wickes Group plc has acquired a 51% stake in Gas Fast Ltd, the parent company of UK-based solar installer Solar Fast, to expand the company's home energy business.Solar Fast has installed around 3,700 solar systems in the past two years, generating revenues of £33.1million in the year to 30th April 2023.Wickes will pay £5.1million as a minimum payment for the 51% stake on completion, with the balance payable in early 2025.

Enfinity sells stake in 400MW US PV portfolio

Enfinity Global sold a 40% stake in its 400MW US operating portfolio to Japanese utility Kyushu Electric Power. enfinity Global retains a 60% stake and acts as the long-term asset manager for the sites.

Masdar acquires 50% stake in US IPP Terra-Gen

The transaction will be completed by the end of 2024, with Igneo Infrastructure Partners retaining its existing 50% stake in the company. Terra-Gen currently operates approximately 2.4GW of solar and wind projects and 5.1GWh of energy storage facilities at 32 locations in the US.

Enviromena buys 70-MWp solar project in England from NTR

Enviromena recently acquired a 70MWp solar farm in Medbridge, Essex, as part of its strategic plan to develop a 500MW operational solar project in the UK. Construction is scheduled to begin in the summer and is expected to be completed by the summer of 2025.

Global investors eye majority stake in India's Ayana Renewable Power

The sale of the majority stake is expected to give the Indian power company an equity value of $1 billion and an enterprise value, including debt, about $2.5 billion to $3 billion. The company is currently involved in the development and management of nearly 5 GW of solar, wind and hybrid projects.

OPG Power Ventures Sells Indian Solar Stake

London-listed OPG Power Ventures Plc has sold a minority stake in its solar portfolio in India to Indian Solar Stake as a result of the New Crown outbreak.The portfolio consists of four solar projects totaling 62 MW in southwestern India, with each asset holding a 31% interest. The total sale amounted to £291,000, significantly less than the initial investment of approximately £2,115.

RIC Energy Sells Seven New York State Community Solar Projects to Radial Power

RIC Energy, a global independent renewable energy developer and producer, announced the sale of seven photovoltaic (PV) power plants in upstate New York to Radial Power, a distributed energy platform with a combined capacity of 34 MW and an estimated total investment of more than $85 million, located throughout upstate New York. The facilities are expected to provide 100% clean energy to more than 8,000 homes participating in their respective utilities' community solar programs.

KKR Invests in Avantus to Support Renewable Energy Deployment in the United States

KKR, a leading global investment firm, announced the signing of a definitive agreement under which KKR-managed investment funds and accounts agreed to acquire a majority stake in Avantus. Upon closing, KKR and existing investor EIG will be the sole equity investors in Avantus. Both equity sponsors are committed to supporting the next phase of Avantus' growth, totaling up to $1 billion.

Ameren Missouri approved for 400 MW of solar projects

Ameren Missouri received approval to build or acquire approximately 400 MW of solar energy, with the first of three solar projects scheduled to be operational in 2025 and the other two scheduled to begin operations in 2026.

Antin Infrastructure Partners Announces a Voluntary Cash Tender Offer for 100% of Opdenergy

Antin sees strong potential for Opdenergy as a key player in Spain's ongoing energy transition. At the same time, the acquisition is another milestone in Antin's strategy to build a portfolio of leading renewable energy companies in Europe and North America.

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