The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Nov 2 | Power Purchase & Offtake | Carbon Captu… | 1PointFive (Occidental subsidiary) | Microsoft | — | TX | Announced | Microsoft purchase of 500,000 metric tons CDR credits from 1PointFive's STRATOS DAC plant in Texas over 6 years — largest single DAC carbon removal purchase to date at announcement. Note: This is the November 2023 announcement; July 2024 announcement involved a separate larger commitment. STRATOS expected operational 2025. | |
| Oct 31 | Power Purchase & Offtake | Offshore Wind | Ørsted | New Jersey ratepayers (NJ BPU OREC) | $4.00B | NJ | Cancelled | Ørsted ceased development of Ocean Wind 1 and 2 — combined 2,248 MW NJ offshore wind. Cited supply chain constraints, high interest rates, insufficient tax credits. $4B total impairment ($2.8B for Ocean Wind 1). Largest US offshore wind cancellation to date. Triggered industry-wide repricing/restructuring. |
Change of Control
1 moveAhmed Pasha joined as Senior Vice President and Chief Financial Officer at Fluence Energy (from CFO, US Utilities and Conventional Generation, AES Corporation)
Pasha joined Fluence (the Siemens/AES energy storage JV, now public) from AES, where he served as VP, Global Treasurer and Head of Investor Relations. Succeeded Manu Sial as CFO.
Nov 1
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