The Week in Deals
4 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Oct 3 | Project & Portfolio M&A | Solar+BESS | EDP Renewables (EDPR) | Ares Management (Infrastructure Opportunities) | $800M | Multi-state | Closed | Ares acquires 49% of EDPR's 1,632 MW US portfolio (solar, wind, storage) in 4 power markets. $2.9B enterprise value. 5 operating + 5 under construction. 18-year avg PPA life. Brings Ares total power generation interests to ~5.7 GW across 11 states since Sept 2024. $565M backleveraged facility from SocGen/Natixis. | |
| Sep 30 | Project & Portfolio M&A | Solar | — | Bank of America | $305M | IL, MD | Closed | Summit Ridge closes $305M credit facility from Bank of America for 158 MW of community solar across Illinois and Maryland. Brings total operating and development portfolio to 2+ GW nationwide. | |
| Sep 29 | Power Purchase & Offtake | Nuclear | Vistra Corp | Undisclosed investment-grade customer (likely hyperscaler) | 1,200 MW | TX | Announced | 20-year PPA (option to extend up to 20 more years). Power deliveries begin Q4 2027, full capacity by 2032. Vistra concurrently announced 860 MW of new gas in West Texas Permian to support Texas grid + customer demand. Investment-grade counterparty widely believed to be a hyperscaler. | |
| Sep 26 | Project & Portfolio M&A | Solar | TotalEnergies | KKR | $1.25B | Multi-state | Announced | KKR acquires 50% stake in 1.4 GW North American solar portfolio from TotalEnergies. Six utility-scale assets (1.3 GW) and 41 distributed generation assets (140 MW). TotalEnergies retains 50% and continues to operate. KKR has committed $23B+ to energy transition investments. |
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.
Prefer the email view? Open the original email →
Get the next issue in your inbox
Free, every Monday. Unsubscribe anytime.