The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| May 6 | Corporate M&A | Solar+BESS | — | CPP Investments, Global Infrastructure Partners | $6.20B | MN, WI | Closed | Take-private of ALLETE at $67/share. Includes Minnesota Power regulated utility, wind, solar, biomass, and hydroelectric assets. $200M in customer benefits committed. Closed December 2024 after FERC and MPUC approvals. GIP is now part of BlackRock. | |
| May 1 | Power Purchase & Offtake | Solar+BESS | Brookfield Renewable | Microsoft | $10.00B | Multi-state | Announced | Largest corporate PPA ever signed — 8x larger than previous record. Five-year framework for 10.5+ GW of new wind, solar, and carbon-free generation. Estimated $11.5B to build (BNEF). Could account for ~30% of Brookfield's renewable capacity growth 2026-2030. Orrick advised on the deal. |
Change of Control
2 movesKirk Crews promoted to Executive Vice President and Chief Risk Officer at NextEra Energy
Part of NextEra Energy's May 2024 organizational changes under CEO John Ketchum, positioning the leadership team for the next phase of the company's clean energy build-out.
Brian Bolster joined as Executive Vice President, Finance and Chief Financial Officer at NextEra Energy (from Managing Director, Head of Natural Resources Americas, Goldman Sachs)
Bolster joined NextEra from Goldman Sachs where he spent nearly 25 years. One of the most significant banker-to-operator moves in the clean energy sector. He would later be promoted to President and CEO of NextEra Energy Resources in May 2025.
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