The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Apr 23 | Project Finance | Wind | Apex Clean Energy | Santander, J.P. Morgan | $680M | IL | Closed | Construction + term loan underwritten by Santander; J.P. Morgan as sole tax equity partner. Part of Apex's $2.79B in 2025 financial commitments across 670 MW of projects (Coles Wind, Emerson Creek Wind, Raven Storage). Apex's 7th wind project to reach financial close. | |
| Apr 23 | Strategic & Growth Capital | Solar+BESS | Hull Street Energy | Institutional LPs (undisclosed) | $2.20B | Multi-state | Closed | Hull Street Energy closes third institutional fund at ~$2.2B targeting power-sector transition (gas peakers, renewables, BESS). First investment: 300 MW New York power generation. Subsequent acquisitions of Midwest gas peaker assets and Elwood Energy (Joliet, IL). |
Change of Control
3 movesT.J. Rodgers joined as Chairman and Chief Executive Officer at SunPower (rebranded from Complete Solaria) (from Chairman and Chief Executive Officer, Complete Solaria)
Cypress Semiconductor founder Rodgers — who acquired the SunPower brand and certain assets out of bankruptcy in late 2024 — formally rebranded Complete Solaria to SunPower. The reborn SunPower is a leaner, dealer-network residential model under his control.
Michael Marek joined as Partner, Corporate, Energy & Infrastructure at Kirkland & Ellis (from Partner, Vinson & Elkins)
Marek joined Kirkland from V&E in April — the second high-profile defection from V&E to Kirkland in 2025 (alongside John Decker), as Kirkland aggressively built out its energy & infrastructure transactional practice.
Sam Altman departed Oklo as Chairman
OpenAI CEO Altman stepped down as Chairman of Oklo Inc. to remove conflicts of interest amid OpenAI's expanding nuclear power discussions. Oklo (NYSE: OKLO) was the first publicly traded SMR developer; Altman backed it through SPAC sponsor AltC.
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