The Week in Deals
6 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Jun 30 | Project & Portfolio M&A | Solar+BESS | AEP (American Electric Power) | IRG Acquisition Holdings (Invenergy + CDPQ + Blackstone Infrastructure) | $1.50B | Multi-state | Closed | Signed Feb 2023; closed August 16, 2023. Invenergy/CDPQ/Blackstone consortium acquired 14-project portfolio for $1.5B enterprise value ($1.2B net cash to AEP). Concurrent $580M PTC transfer to Bank of America — among first significant IRA Section 6418 transferability transactions. Demonstrated viability of post-IRA tax credit transfer market at scale. | |
| Jun 22 | Corporate PPA | Wind | Enel Green Power | Meta | 125 MW | IL | Closed | Meta contracted 125 MW from the Alta Farms wind farm under a long-term power purchase agreement to support its Illinois data center. | |
| Jun 22 | Utility PPA | Solar | Ranger Power | Duke Energy | 199 MW | IN | Announced | Duke Energy Indiana signed an agreement with Ranger Power for up to 199 MW from the Speedway Solar facility in Shelby County, Indiana under a 20-year power purchase agreement, subject to Indiana Utility Regulatory Commission approval. | |
| Jun 21 | Power Purchase & Offtake | Wind | Vantage Wind Energy LLC | Puget Sound Energy Inc | 90 MW | WA | Operating | Utility-side renewable PPA discovered via FERC EQR (contract C2). Signed 2023-06-21. COD 2025-10-04. Term ends 2040-10-31. MW not disclosed in FERC contract data — research enrichment pending. BA: PSEI. [Research 2026-05-11: MW recovered as 90 from Puget Sound Energy Press Release — Vantage Wind PPA. Vantage Wind Energy Center — 90 MW facility in Ellensburg/Kittitas County, WA (owned by Invenergy). 15-yr PPA with PSE; ~264,000 MWh/yr.] | |
| Jun 21 | Project acquisition | Wind | Invenergy | MidAmerican Energy | $386M | IA | Closed | MidAmerican Energy acquired the Chickasaw County Wind Energy Center (66 turbines) from Invenergy, with the acquisition completed June 8, 2023; net acquisition cost reported at $386 million. | |
| Jun 19 | Utility PPA | Wind | EDP Renewables | Northern Indiana Public Service Company | 200.1 MW | IN | Closed | EDP Renewables and NIPSCO entered a 20-year power purchase agreement for the 198-MW Carpenter Wind Farm in Jasper County, Indiana. |
Change of Control
1 moveC.J. Warner appointed Director at Bloom Energy (from Former President and CEO, Renewable Energy Group)
Former Renewable Energy Group President/CEO who oversaw its sale to Chevron joined Bloom Energy board. Also serves on Chevron board and is Lead Independent Director for Sempra.
Jun 19
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