The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| May 31 | Corporate M&A | Solar+BESS | Impala SAS, Fonds Stratégique de Participations + other Neoen shareholders | Brookfield Renewable + Temasek (consortium) | $6.10B | Multi-state | Closed | Brookfield Renewable + Temasek consortium acquired majority stake in Neoen. Initial 53.12% stake purchase from Impala et al. closed Dec 30, 2024 for €3.25B. Tender offer for 100% at €39.85/share (26.9% premium to Mar 28, 2024 close); full deal valued €6.1B. Mandatory tender offer expected to complete Q1 2025. One of largest renewable platform M&A globally. Neoen: solar, wind, storage; flagship Hornsdale + Victoria Big Battery (Australia). | |
| May 27 | Corporate M&A | Solar+BESS | Atlantica Sustainable Infrastructure plc public shareholders (Algonquin majority stake) | Energy Capital Partners (and co-investors) | $2.56B | Multi-state | Closed | ECP took yieldco Atlantica private. 97% shareholder approval Aug 2024. Closed Dec 12, 2024. Major exit for Algonquin Power, which had majority stake. Atlantica delisted from Nasdaq. |
Change of Control
5 movesStephen Gallagher promoted to Chief Executive Officer at Brookfield Renewable U.S.
Gallagher was promoted to lead Brookfield Renewable's US operations (60,000+ MW pipeline) after serving as Chief Commercial Officer. He has been with Brookfield Renewable since 2017.
Neil Manning promoted to President and Chief Operating Officer at Array Technologies
Manning elevated to President & COO at the leading solar tracker manufacturer, consolidating operational leadership under CEO Kevin Hostetler.
Hans Martin Smith departed Vestas Wind Systems as Chief Financial Officer
Smith departed after 20+ years at Vestas, having served as CFO since March 2022. His departure added to an unusual period of board and executive turnover at the world's largest wind turbine manufacturer.
Robert Keepers joined as Head of Climate Tech at J.P. Morgan
Named Head of Climate Tech at JPMorgan, bringing two decades of finance and banking experience along with deep energy industry expertise. Reflects JPMorgan's growing commitment to climate-related investing.
Daniel Katz promoted to Head of Portfolio Management, Infrastructure Debt at Ares Management
Internal promotion to head portfolio management for Ares' $11B infrastructure debt platform. Ares has been one of the most active infrastructure investors in US clean energy, including a 2.7 GW ENGIE portfolio deal.
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