The Week in Deals
4 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Jan 18 | Power Purchase & Offtake | Solar | Ørsted (Mockingbird Solar Center) | Bloomberg LP | 80 MW | TX | Announced | Bloomberg signed a 15-year PPA with Ørsted for 80 MW from the Mockingbird Solar Center. This agreement brings the 471 MW project to fully contracted status. | |
| Jan 15 | Tax Equity & Tax Credits | Solar+BESS | Origis Energy | J.P. Morgan | $317M | MS, NM | Closed | $317M tax equity from J.P. Morgan for two-project Origis portfolio: Escalante Solar in New Mexico (200 MWac) and Golden Triangle II in Mississippi (150 MWac solar + 50 MW / 200 MWh BESS). Origis's largest tax equity transaction at the time. | |
| Jan 12 | Corporate M&A | Solar+BESS | Global Infrastructure Partners | BlackRock | $12.50B | Multi-state | Closed | BlackRock's largest acquisition in over a decade. $3B cash + ~12M BlackRock shares. GIP manages ~$115B in infrastructure AUM. Combined platform branded 'GIP, a part of BlackRock' with ~$170B infrastructure AUM. Closed October 1, 2024. | |
| Jan 1 | Project Finance | Solar | SB Energy Global (SoftBank / Ares Management) | J.P. Morgan, Bank of America, Morgan Stanley Renewables, Truist Bank, MUFG, Mizuho Americas, ING, SMBC, CIBC, Fifth Third Bank, Société Générale | $2.40B | TX | Closed | PFI Renewables Deal of the Year. First US utility-scale projects to close with IRA domestic content adder. Tax equity: JPM (Orion I), BofA (Eiffel), Morgan Stanley (Orion II), Truist (Orion III) — $800M total. Construction debt $1.2B, term debt $450M from MUFG, Mizuho, ING, SMBC, CIBC, Fifth Third, SocGen. Mizuho led Orion I/III; MUFG led Orion II. Google purchasing ~75% output — its largest global solar investment. 1.1M First Solar modules from Ohio. Nextracker trackers. Energy community designation. $100M local economic contribution. |
Change of Control
3 movesJason Ellsworth departed Clenera as Chief Executive Officer
Ellsworth, co-founder of Clenera (now an Enlight Renewable Energy subsidiary), stepped down to serve as a volunteer mission president for the Church of Jesus Christ of Latter-day Saints.
Adam Pishl promoted to Chief Executive Officer at Clenera
Pishl succeeded co-founder Ellsworth as CEO of the Enlight subsidiary, which has a multi-GW US solar and storage development pipeline.
Andrew Flanagan named Chief Executive Officer at RWE Clean Energy (from Chief Development Officer, RWE Clean Energy)
Promoted from CDO to CEO, replacing Mark Noyes. Previously at Leeward Energy and Invenergy. Named ACP 2026 Board Secretary. RWE Clean Energy has 17.9 GW pipeline after $6.8B Con Edison Clean Energy acquisition.
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