From: Mercom Capital
The EQT Infrastructure V fund OK to acquire Cypress Creek Renewables, a solar energy and storage company that develops, owns and operates projects across the United States, from certain funds managed by HPS Investment Partners and Temasek. The company currently operates in 25 states, with 1.6 GW of operating assets.
Generac, designer and manufacturer of energy technology solutions and other energy products announcement the acquisition of Chilicon Power, a designer and supplier of microinverters and interactive monitoring solutions for the solar market. The acquisition was completed on July 2, 2021. Terms of the deal were not disclosed.
Hull Street Energy, a private equity firm, announcement that it acquired the management team and development pipeline of Foundation Solar Partners, an independent renewable energy development company company specializing in the identification and development of large-scale solar energy production projects in certain markets in the eastern United States.
Athena Technology Acquisition, a Special Purpose Acquisition Company (SPAC), and Heliogen, an AI-Enabled Concentrated Solar Power Provider, announced that they had reached a definitive agreement for a business combination. Following the business combination, Athena plans to be renamed Heliogen and will remain listed on the New York Stock Exchange under the new ticker symbol “HLGN”. The combined company will have a market value of approximately $ 2 billion.
Alfanar, developer of renewable energy projects based in Saudi Arabia – possesses acquired a 100% stake in the original equipment manufacturer of Senvion India wind turbines from Senvion. The acquisition was made through Global Renewable Energy Development Holding Company Limited, an investment vehicle set up by the promoters of Alfanar.
Arkema, a specialty chemicals and advanced materials company, bECOMES shareholder and technological partner of Verkor, manufacturer of lithium-ion batteries. The Verkor Innovation Center, scheduled for commissioning in 2022, will provide a collaborative space to optimize smart industrial processes and create new generations of batteries.
Applus +, the global testing, inspection and certification company, has announced the acquisition of Enertis, a global consulting and engineering company, from the founding owners. The transaction is finalized and Enertis is now part of the Energy & Industry division.
Blue Elephant Energy, a renewable energy project developer, obtains a new Major shareholder of Athos. Athos will subscribe to a private capital increase of 75 million euros (~ 88.5 million dollars) and will own 15% of the company in the future. In addition, Athos has the option of investing up to € 75 million (~ $ 88.50) in additional equity. Consequently, the management board and the supervisory board of BEE have decided to stop the IPO process of the IPO in the third quarter, even before the bookbuilding range is set.
GCL New Energy Holdings is socket full control of Suzhou GCL New Energy Investment to give the unit autonomy in the management of its operations. The electricity supplier is buying the 5.835% stake it does not yet own in Suzhou GCL for CNY 1.22 billion (~ $ 188.6 million). The company will purchase the stake of Sumin Ruineng Wuxi Equity Investment Partnership. Suzhou GCL has solar projects in China with a total grid-connected capacity of around 2,700 MW, the GCL Poly Energy Holdings (3,800) unit said in a stock exchange filing.
View (formerly Soladigm) – a developer of dynamic architectural glasses – announced that it has acquired IoTium, the provider of secure, cloud-managed and software-defined IoT networks. IoTium’s easy-to-deploy solutions enable building owners to quickly achieve enterprise-grade security, reduce operating costs, and gain real-time visibility into their entire real estate portfolio.
Hyundai Motor has invested about $ 100 million to buy a stake in lithium metal battery start-up SolidEnergy Systems (SES). SES shareholders include, among others, General Motors and Tianqi Lithium.
Daqo New Energy, a Chinese polysilicon manufacturer, is in the to treat to file an IPO application for the company’s main operating subsidiary, Xinjiang Daqo New Energy, on the Shanghai Stock Exchange Sci-Tech Innovation Council. According to the updated prospectus and schedule, Xinjiang Daqo plans to issue 300 million shares representing about 15.58% of the total 1.93 billion shares outstanding after the IPO.
Daystar Power, a commercial and industrial solar installer, announcement closing of a $ 20 million International Finance Corporation (IFC) facility. IFC to provide loan to Nigerian from Daystar Power subsidiary to invest in hybrid renewable energy systems. The investment is structured as a $ 10 million subordinated loan from the Canada-IFC Renewable Energy Program for Africa and a $ 10 million local currency loan from IFC.
For reports and follow-ups on M&A financings and transactions in solar energy, energy storage, smart grids and efficiency, click here.
Read last week’s funding roundup.
