The Week in Deals
4 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Jun 26 | Power Purchase & Offtake | Solar+BESS | Invenergy | Meta Platforms | 791 MW | AR, OH, TX | Announced | Four-project Meta PPA portfolio: 595 MW solar + 196 MW wind across 3 states. Brings Invenergy-Meta partnership to ~1,800 MW. COD 2027-2028. Supports Meta's data center operations across multiple ISOs. | |
| Jun 25 | Project Finance | Solar+BESS | Avantus | SMBC, Truist, ING, Mizuho (construction); Truist (tax equity) | $500M | CA | Closed | $500M+ construction financing closed June 2025 with SMBC, Truist, ING, Mizuho. Truist tax equity commitment of $300M closed December 2025. COD 2026. | |
| Jun 23 | Corporate M&A | Solar | Nexamp | Mitsubishi (Diamond Generating Corp) | $3.90B | Multi-state | Announced | Nexamp announces $3.9B investment plan to develop 3 GW of community solar through 2028, a 160% expansion. Mitsubishi's Diamond Generating Corp is key shareholder. Build on prior $520M capital raise in 2024. | |
| Jun 17 | Project Finance | Solar | Dimension Energy | First Citizens Bank, ING, MUFG, National Bank of Canada, Siemens, Cadence, Comerica, Advantage Capital | $360M | DE, IL, ME, NJ, PA, VA | Closed | Dimension Energy's largest construction and term financing. First Citizens Bank as lead debt syndicator alongside ING, MUFG, NatBank Canada, Siemens, Cadence, Comerica. Advantage Capital: $170M tax equity. CRC-IB as exclusive financial advisor. Third major financing that year. 500+ jobs created. Dimension has executed 700+ MW since 2018 founding. |
Change of Control
7 movesJose Antonio Miranda promoted to Chief Executive Officer at Avangrid
Miranda takes the top job at the Iberdrola-backed utility and renewables company, replacing Pedro Azagra who moved up to CEO of parent Iberdrola S.A.
Pedro Azagra joined as Chief Executive Officer at Iberdrola (from Chief Executive Officer, Avangrid)
Azagra moved up to lead Iberdrola Group globally, succession-planned within the family after over 25 years inside the company. His departure triggered a Miranda/Harriman elevation at Avangrid that consolidated US leadership in renewables and regulatory hands.
Joi Harris named President and Chief Executive Officer at DTE Energy (from President and Chief Operating Officer, DTE Energy)
Harris named first female CEO in DTE history — succeeding Jerry Norcia who became Executive Chairman. Inherits leadership of a Michigan utility deeply engaged in clean energy expansion (3.5 GW renewables target) and large industrial-load growth.
Jerry Norcia named Executive Board Chairman at DTE Energy (from Chairman and Chief Executive Officer, DTE Energy)
Norcia transitioned from Chair/CEO to Executive Chairman to enable Harris' CEO succession. Continues to lead board strategy on the Michigan clean energy plan and rate-base growth.
Caitlin Lawrence joined as Partner, Finance, Houston at Vinson & Elkins (from Finance Partner, Baker Botts)
Lawrence joined V&E's Houston finance practice from Baker Botts as part of a three-partner June 2025 wave (alongside Francis and Schuster from Kirkland) consolidating V&E's capital-markets and PE depth.
Sam Francis joined as Partner, Investment Management, NYC at Vinson & Elkins (from Partner, Kirkland & Ellis)
Francis joined V&E's growing investment management practice from Kirkland in June 2025 — one of two Kirkland partners taken in the same wave to scale fund-formation services for energy and infrastructure GPs.
Reed Schuster joined as Partner, Investment Management, Austin at Vinson & Elkins (from Partner, Kirkland & Ellis)
Schuster joined V&E's Austin investment management group from Kirkland alongside Francis (NYC), strengthening V&E's coverage of PE energy and infrastructure fund formation.
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