The Week in Deals
3 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Dec 2 | Manufacturing Investment | BESS | Ultium Cells LLC (GM + LG Energy Solution JV) | Ultium Cells | $275M | TN | Announced | Ultium Cells announces $275M expansion of Spring Hill TN battery cell plant — capacity from 35 GWh to 50 GWh (+40%). Adds to base $2.3B announced 2021. Total project $2.575B. Plant opens late 2023; supplies Cadillac LYRIQ + GM Ultium Platform vehicles. 1,700 employees fully operational. | |
| Dec 1 | Power Purchase Agreement | Solar | Lightsource bp | Verizon Communications | 152 MW | IN | Operating | Verizon + Lightsource bp Bellflower Solar (152.5 MW, Henry/Rush Counties IN) reaches commercial operations late 2022. Original PPA signed January 2021; project online late 2022. | |
| Nov 30 | Project Finance | Nuclear | American Centrifuge Operating LLC / Centrus Energy | US DOE | $150M | OH | Closed | DOE awards Centrus three-phase HALEU contract — Phase I ~$150M for first US HALEU production cascade (Piketon OH). Phase I: 20 kg by end-2023; Phase II: 900 kg/yr; Phase III: 9-year extension option. First US HALEU since loss of Russian-isotope independence. |
Change of Control
2 movesHunter Armistead named Chief Executive Officer at Pattern Energy (from Chief Development Officer, Pattern Energy)
Co-founder and CDO Armistead succeeds founding CEO Mike Garland after 13-year tenure. Armistead co-founded Pattern with Garland in 2009; brings 30 years of energy experience including Conoco-Phillips, Edison Mission Energy, and Babcock & Brown.
Dec 2
Mike Garland departed Pattern Energy as Chief Executive Officer
Founding CEO retires after 13-year tenure leading Pattern from a startup to one of the largest US wind developers. Co-founder Hunter Armistead (former CDO) succeeded him as CEO.
Dec 2
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