The Week in Deals
6 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Aug 5 | Project & Portfolio M&A | Natural Gas | Carlyle Group | Quantum Capital Group | $3.00B | Multi-state | Announced | Quantum Capital acquires 11 gas-fired plants spanning multiple ISOs from Carlyle. Plans to grow platform with focus on gas, renewables, and storage. Closed Q4 2024. Quantum later sold the same fleet to Vistra for ~$4B announced Jan 2026. | |
| Aug 1 | Project Finance | Solar+BESS | Clenera | Societe Generale | $2.29B | Multi-state | Closed | Societe Generale as key lender for Clenera solar+storage portfolio. | |
| Aug 1 | Corporate M&A | Solar+BESS | Algonquin Power | LS Power | $2.50B | Multi-state | Closed | LS Power acquired Algonquin Power's renewable energy business (~3 GW operating + 8 GW pipeline) for ~$2.5B. Formed Clearlight Energy as the renewables platform under LS Power. | |
| Aug 1 | Construction-to-term loan | Solar | Copia Power | Credit Agricole CIB | $1.20B | AZ | Closed | Copia Power closed a $1.2 billion construction-to-term loan financing funding the Harquahala Sun 1 and Harquahala Sun 2 solar-plus-storage projects in Arizona, structured with a non-recourse tax credit transfer bridge. | |
| Jul 31 | Project acquisition | Solar+BESS | OCI Energy | Hyundai Engineering Co., Ltd. | 400 MW | TX | Closed | OCI Energy sold the Hillsboro solar project in Hill County, Texas to Hyundai Engineering, marking Hyundai Engineering's first overseas renewable energy investment. | |
| Jul 30 | Corporate PPA | Solar | EDP Renewables | Meta | 200 MW | AZ | Closed | Electricity from the 200 MW Brittlebush Solar Park is sold to Meta under a power purchase agreement supporting its Mesa, Arizona data center, with Salt River Project managing the grid. |
Change of Control
5 movesKevin Kroll joined as Chief Operating Officer at RWE Clean Energy (from Partner, McKinsey & Company)
Joined RWE Clean Energy as COO from McKinsey. Building out operational leadership under new CEO Andrew Flanagan.
Lawrence Coben joined as President and Chief Executive Officer at NRG Energy (from Interim Chief Executive Officer (since Nov 20, 2023), Vistra)
Coben — long-time NRG board member who had served as Interim CEO since Nov 2023 — formally named permanent President & CEO. Continued as Chair of the Board. Will hand off the President title to Robert Gaudette in Nov 2025 and the CEO role on April 30, 2026.
Rob Berntsen joined as EVP and Chief Legal and Compliance Officer at Xcel Energy (from Senior Vice President, Chief of Staff and General Counsel, BHE Renewables)
Brings two decades of energy sector legal experience to one of the largest clean energy utilities in the US.
Lynn Good departed Duke Energy as Chair, President and Chief Executive Officer
Good retired as Chair/CEO after a transformative 12-year tenure that included Vogtle 3 & 4 commissioning, the South Carolina IRP transition, and DENC's pivot toward 30+ GW of clean energy by 2035. Successor Sideris took over Apr 1, 2025.
Harry Sideris named President and Chief Executive Officer at Duke Energy (from Executive Vice President of Customer Experience, Solutions and Services, Duke Energy)
29-year Duke veteran Sideris assumed CEO role from Lynn Good. Inherits the most ambitious nuclear/data-center growth plan among major US utilities, including new SMR exploration and the largest solar buildout in the Carolinas.
Prefer the email view? Open the original email →
Get the next issue in your inbox
Free, every Monday. Unsubscribe anytime.