The Week in Deals
6 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Dec 17 | Project Finance | Other | StarPlus Energy LLC (Stellantis + Samsung SDI JV) | U.S. Department of Energy (ATVM Program) | $7.54B | IN | Closed | DOE ATVM $7.54B loan to StarPlus Energy. Funds two adjacent lithium-ion battery cell factories in Kokomo, Indiana. JV between Stellantis and Samsung SDI. ~67 GWh/yr capacity. | |
| Dec 16 | Project Finance | Other | BlueOval SK (Ford + SK On JV) | U.S. Department of Energy (ATVM Program) | $9.63B | KY, TN | Closed | DOE direct loan to BlueOval SK (Ford + SK On JV) — among the largest DOE clean energy loans in history. Funds construction of 3 lithium-ion battery cell plants: BlueOval City Tennessee + 2 Glendale Kentucky facilities. 120+ GWh/yr aggregate capacity. Critical to US EV battery supply chain. | |
| Dec 10 | Corporate M&A | Solar+BESS | Intersect Power | Google, TPG Rise Climate | $800M | Multi-state | Announced | Google and TPG Rise Climate form landmark partnership with Intersect Power to co-locate data centers with clean energy. $800M equity raise plus targeted $20B in renewable infrastructure by end of decade. Intersect has 2.2 GW solar + 2.4 GWh storage operating/construction. Alphabet later acquired Intersect for $4.75B in Dec 2025. | |
| Dec 10 | Project & Portfolio M&A | Solar | SunEnergy1 | Brookfield Renewable | 510 MW | NC, VA | Announced | Brookfield acquires 510 MW solar portfolio from SunEnergy1 in PJM with exclusivity on 330 MW more. Driven by data center demand in PJM. Corporate PPAs secured for initial portfolio. Later expanded with 300 MW Cherry project (Oct 2025), bringing total to 1,100+ MW. | |
| Dec 8 | Project Finance | Solar | Solar Landscape | Silicon Valley Bank (First Citizens Bank), KeyBanc Capital Markets, National Bank of Canada, KeyState Renewables | $847M | NJ | Closed | Record single-year financing for Solar Landscape across 10 investor/counterparty relationships. $283M green loan led by SVB/First Citizens with KeyBanc and NatBank Canada as co-CLAs. KeyState Renewables committed $184M tax equity for 101 projects. Solar Landscape leased 40M sq ft of commercial rooftop in 2024. Awarded 278 MW under NJ community solar program. | |
| Dec 1 | Project Finance | BESS | Aypa Power (Blackstone) | Société Générale, ING Capital LLC, Bank of America, Zions Bancorporation, Royal Bank of Canada, Desjardins Group | $398M | AZ | Closed | Construction-to-back-leverage loan, tax credit transfer bridge loan, and letters of credit. 20-year tolling agreement with Salt River Project. Expected $16M+ direct economic impact incl. $14M property tax revenue. Operations expected 2026. |
Change of Control
8 movesClay Corbus promoted to President and Chief Executive Officer at Clean Energy Fuels Corp (from Senior Vice President, Strategic Development and Head of Renewable Fuels, Clean Energy Fuels Corp)
19-year CLNE veteran succeeds co-founder Andrew Littlefair after 30+ years; Corbus led all M&A and capital-raising and built the company's RNG production and distribution businesses; Clean Energy operates North America's largest natural gas vehicle fueling network.
Andrew Littlefair departed Clean Energy Fuels Corp as President and Chief Executive Officer
Littlefair co-founded CLNE with T. Boone Pickens in 2001 and led the company for 30+ years, building North America's largest natural gas fueling network; transitions to a three-year government relations consulting role ($750K/year) while remaining on the board.
Richard H. Little joined as Chief Executive Officer & Director at enCore Energy Corp. (from Resource industry executive, Ajax Resources / private resource-industry executive)
Little takes the helm at enCore Energy — the only US uranium producer with two operational ISR Central Processing Plants (both South Texas) — to accelerate licensing and cost discipline as US nuclear-fuel sovereignty becomes a bipartisan priority alongside the data-center power buildout. Compensation disclosed: $600K base. Previously engineered the $1.24B sale of Ajax Resources' Northern Midland Basin assets to Diamondback Energy.
Aaron D. Moss promoted to Executive Vice President & Chief Financial Officer at Edison International (from Senior Vice President & Chief Financial Officer, Southern California Edison)
Moss steps up from SCE CFO to parent EIX CFO at $730K base + 85% target bonus + supplemental $603K LTI grant (25% options / 25% RSUs / 50% performance shares). A career SCE/EIX finance hand who served as Controller of both entities (2016–2022); confirms internal promotion strategy at California's largest IOU.
Maria Rigatti departed Edison International as Executive Vice President & Chief Financial Officer
Long-tenured EIX CFO Rigatti retires after navigating wildfire-liability cycles and rate-base growth strategy at California's largest IOU. Steps down as CFO July 3, 2026 and full retirement Sept 1, 2026. Closes one of the longest-serving utility CFO seats in California.
William M. Sheriff appointed Executive Chair (return) at enCore Energy Corp. (from Founder; former Executive Chair (had transitioned off executive role), enCore Energy Corp.)
Founder Sheriff returns to an executive-chair role alongside new CEO Richard Little, signaling a strategic reset for the leading US ISR uranium producer. Mirrors a pattern at other US critical-minerals juniors where founders re-engage in governance to navigate licensing and capital-markets cycles. Tied to the broader 2026 nuclear-fuel onshoring push.
M. Susan Hardwick appointed Independent Director (Audit & Finance Committee; Compensation & Executive Personnel Committee) at Edison International (from Former Chief Executive Officer, American Water Works)
EIX board expanded from 11 to 12 seats to add Hardwick — a heavyweight utility-finance director with prior CEO/CFO experience at American Water and Vectren. Adds Audit + Compensation Committee depth as EIX prepares for the CFO transition from Rigatti to Moss.
Sana Ouji joined as Energy Lead at Anthropic (from Strategic Energy Investments and Partnerships Lead, Data Center Division, Google)
First dedicated energy role at Anthropic, signaling the AI lab's commitment to securing clean energy capacity for AI infrastructure; Ouji brings 6+ years managing Google's data center clean energy strategy across multiple geographies.
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