The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| May 23 | Power Purchase & Offtake | Wind | RWE Clean Energy | Microsoft | 446 MW | TX | Announced | Two RWE-Microsoft 446 MW Texas wind PPAs. 15-year terms. Peyton Creek II: 243 MW (Vestas V163 4.5MW) in Matagorda County. Lane City Wind: 203 MW in ERCOT. RWE's TX renewables portfolio grew to 4.8 GW with these additions. | |
| May 20 | Corporate M&A | Solar+BESS | Avangrid public minority shareholders (18.4%) | Iberdrola | $2.50B | CT, MA, ME, NY | Closed | Iberdrola's take-private of remaining 18.4% Avangrid minority stake at $35.75/share (11.4% premium to March 6, 2024 unaffected price). Total cash outlay ~$2.5B (€2.35B). Closed December 23, 2024; Avangrid delisted from NYSE Dec 31, 2024. Avangrid retained Connecticut HQ. Premium to minority shareholders ~$300M. CT AG petitioned state review. |
Change of Control
2 movesSteven Lichtin joined as Managing Director and CEO at Advantage Capital Renewables (from VP of Development, Cypress Creek Renewables)
Brings 15 years experience developing 10+ GW of solar and storage. Advantage Capital Renewables is the clean energy arm of New Orleans-based impact investment firm.
May 22
Scott Maskin promoted to Interim CEO at Pineapple Energy (from Board Member, Pineapple Energy)
SUNation Energy founder takes interim CEO role after Kyle Udseth resignation. Pineapple Energy is a residential solar company.
May 22
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