The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Feb 29 | Strategic & Growth Capital | Geothermal | Fervo Energy | Devon Energy (lead) + existing investors | $244M | UT | Closed | Strategic financing led by Devon Energy. Capital to accelerate Cape Station development. Combined with later 2025 financings (Series E $462M, $206M project debt) and 2026 follow-on $421M non-recourse, total Fervo financing exceeded $1.5B by year-end 2025. | |
| Feb 22 | Project Finance | Solar | Recurrent Energy (Canadian Solar) | — | $160M | LA | Closed | Microsoft will purchase 100% of energy and RECs. Project financing for utility-scale solar in Louisiana. |
Change of Control
2 movesVikas Anand promoted to Chief Executive Officer at Origis Energy
Anand was elevated to CEO after joining as COO/CFO in August 2023. He previously spent 20 years at GE, culminating as CEO of GE Renewable Energy Onshore Wind Americas where he led $7.5B in revenues. Founder Guy Vanderhaegen moved to Executive Chairman.
Mar 1
Guy Vanderhaegen joined as Executive Chairman at Origis Energy
Origis founder transitioned to Executive Chairman as the Antin Infrastructure Partners-backed developer professionalized its management with Anand's appointment.
Mar 1
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