The Week in Deals
12 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Sep 30 | DOE-guaranteed project loan | Solar | First Solar | Goldman Sachs Lending Partners and Citigroup | $1.46B | CA | Closed | The US Department of Energy issued partial loan guarantees backing roughly $1.46 billion in loans from a Goldman Sachs- and Citigroup-led syndicate to finance the 550 MW Desert Sunlight solar project. | |
| Sep 30 | Utility PPA | Solar | First Solar | Southern California Edison and Pacific Gas and Electric | 313.7 MW | CA | Closed | Desert Sunlight's output is sold under two long-term PPAs: a 250 MW agreement with Southern California Edison and a 300 MW agreement with Pacific Gas and Electric. | |
| Sep 30 | Project sale | Solar | First Solar | NextEra Energy Resources and GE Energy Financial Services | 313.7 MW | CA | Closed | First Solar sold the Desert Sunlight project to NextEra Energy Resources and GE Energy Financial Services, each acquiring a 50 percent interest. | |
| Sep 30 | Project acquisition | Solar | First Solar | Exelon Corporation | $1.36B | CA | Announced | Exelon agreed to acquire the 230 MW Antelope Valley Solar Ranch One project from First Solar, with total expected investment of up to $1.36B; First Solar remained developer and EPC. | |
| Sep 30 | DOE loan guarantee | Solar | First Solar / Exelon | US DOE | $646M | CA | Closed | The U.S. Department of Energy issued a $646M loan guarantee to support construction of the Antelope Valley Solar Ranch One project. | |
| Sep 30 | Utility PPA | Solar | First Solar / Exelon | PG&E | 253 MW | CA | Closed | The project sells its full output to Pacific Gas & Electric under a 25-year power purchase agreement approved by the California PUC. | |
| Sep 30 | DOE loan guarantee | Solar | NRG Energy | US Department of Energy | $1.24B | CA | Closed | The US Department of Energy finalized a $1.237 billion loan guarantee supporting the California Valley Solar Ranch project, closing in September 2011. | |
| Sep 30 | DOE loan guarantee | Solar | NextEra Energy Resources | US Department of Energy | $1.50B | CA | Closed | The US Department of Energy issued partial loan guarantees totaling approximately $1.5 billion under the Financial Institution Partnership Program to finance the Desert Sunlight solar project. | |
| Sep 29 | DOE loan guarantee | Solar | Abengoa Solar | US DOE | $1.20B | CA | Closed | The U.S. Department of Energy issued a $1.2B loan guarantee to finance the 250MW (net) Mojave Solar parabolic-trough CSP plant near Barstow, California. | |
| Sep 29 | Utility PPA | Solar | Abengoa Solar | PG&E | 280 MW | CA | Closed | Pacific Gas & Electric purchases the output of the Mojave Solar plant under a 25-year power purchase agreement with Abengoa Solar. | |
| Sep 29 | DOE loan guarantee | Solar | Sempra Generation | US DOE | $337M | AZ | Closed | The U.S. Department of Energy finalized a $337M loan guarantee to Mesquite Solar 1, LLC for the 150 MWac photovoltaic project in Maricopa County, Arizona. | |
| Sep 28 | DOE loan guarantee | Solar | Tonopah Solar Energy LLC | US DOE | $737M | NV | Closed | Tonopah Solar Energy received a $737 million loan guarantee from the U.S. Department of Energy under the Title XVII program to finance construction of the Crescent Dunes solar power plant. |
Change of Control
8 movesMichael A. Brown joined as Senior Vice President, General Counsel and Corporate Secretary at Clearway Energy, Inc. (from Vice President, Assistant General Counsel and Corporate Secretary, The New York Times Company)
Clearway Energy — one of the largest US clean-energy generation owners, with assets across 27 states — brought back a former in-house lawyer to take its top legal seat, succeeding retiring GC Kevin Malcarney. Brown returns from The New York Times Company, where he was assistant GC, after an earlier 2014-2021 stint at Clearway and NRG Yield.
Kevin P. Malcarney departed Clearway Energy, Inc. as EVP, General Counsel and Corporate Secretary
Kevin Malcarney is retiring as Clearway Energy's top lawyer effective June 1, capping a tenure that spanned the company's growth into one of the largest US clean-energy owner-operators since he took the GC seat in 2018. He remains a non-executive employee through June 26; Michael A. Brown succeeds him.
Erik Johnson departed SOLV Energy as Chief Strategy Officer
Erik Johnson resigned as Chief Strategy Officer of SOLV Energy — the utility-scale solar EPC that went public in February 2026 — and transitioned to a non-executive employee role through year-end. No successor was disclosed in the 8-K.
Jing Nealis joined as Chief Financial Officer at NeoVolta Inc. (from Chief Financial Officer, SES AI Corporation)
NeoVolta, a San Diego-based battery-storage maker, hired Jing Nealis as CFO from EV-battery firm SES AI as it stands up domestic BESS manufacturing in Georgia (2 GWh initial capacity, targeting 8 GWh). She brings 20-plus years of energy-transition and manufacturing finance experience to the residential-to-utility/C&I expansion.
Steve Bond named Executive Vice President and President at NeoVolta Power LLC (from Chief Financial Officer, NeoVolta Inc.)
In the same announcement that named Jing Nealis CFO, NeoVolta's outgoing finance chief Steve Bond shifted to EVP and President of operating subsidiary NeoVolta Power LLC, taking direct charge of the company's Georgia battery-manufacturing buildout — a CFO-to-operations move that freed the finance seat.
Ravi Abbineni joined as Chief Financial Officer at ION Storage Systems (from Senior Vice President and CFO, JM Family Enterprises)
Maryland-based solid-state battery developer ION Storage Systems hired a finance chief from large privately-held JM Family Enterprises, signaling a push toward commercial scale-up of its solid-state cell technology.
Robert Vinje joined as Chief Operating Officer at Nextpower (from Chief Operating Officer, SOLARCYCLE)
Nextpower (the solar-tracker maker that rebranded from Nextracker in Nov 2025) hired SOLARCYCLE COO Robert Vinje as its COO — a SunPower and Amazon energy-operations veteran. Comp: $475K base, 70% target bonus from FY27, $4M FY27 equity award, $250K sign-on cash.
Marco Miller named Chief Project Development Officer at Nextpower (from Chief Operating Officer, Nextpower)
Nextpower's incumbent COO Miller shifts into a newly created Chief Project Development Officer role concurrent with Robert Vinje's COO appointment — reflecting the company's post-rebrand push into integrated power technology and project services.
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