The Week in Deals
5 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28 | Asset-Backed Securitization (Solar ABS) | Solar+BESS | Sunrun Inc. (NASDAQ: RUN) | Atlas SP (sole structuring agent + joint bookrunner); BofA Securities, MUFG, Truist Securities (joint bookrunners); ING (co-manager) | $584M | Multi (19 states + DC + PR) | Closed | Sunrun's 16th securitization since 2015 and first 2026 issuance. Weighted average customer FICO 744. A-1 notes priced at 220 bps credit spread, a 20 bps tightening vs. 2025 transactions. Demonstrates continued residential solar ABS market depth despite OBBBA tax-credit uncertainty. Closes early May 2026. | |
| Apr 28 | Asset acquisition (software) | Solar+BESS | raicoon GmbH | Stem, Inc. (NYSE: STEM) | — | US (Stem HQ Texas; raicoon target Austria-based) | Closed | Asset purchase of raicoon's software stack to bolt onto Stem's PowerTrack platform. Adds automated fault detection and work-order dispatch, primarily targeted at Stem's US-deployed solar and storage assets. First post-restructuring tuck-in for Stem under the company's 2026 software-first strategy. Existing raicoon European customers retained. Financial terms not disclosed. | |
| Apr 27 | Capacity-reservation / forward offtake | Solar | Overview Energy | Meta Platforms | 1,000 MW | Multi-state US | Announced | First-of-its-kind capacity reservation giving Meta preferential access to up to 1 GW of Overview Energy's future space-based solar capacity. Overview's system collects sunlight in orbit and beams it to existing US solar farms via low-intensity near-IR light, extending the operating hours of ground-based PV. Advisory board includes former NASA Administrators Jim Bridenstine and Mike Griffin and former FERC Chair Joseph Kelliher. Speculative timeline (commercial 2030+) but a real signed agreement directly tied to Meta's US AI data-center load. | |
| Apr 27 | Long-duration energy storage offtake / capacity reservation | Storage | Noon Energy | Meta Platforms | 1,000 MW | US (data center grid) | Announced | Largest publicly disclosed corporate commitment to ultra-long-duration storage. Meta reserves up to 1 GW / 100 GWh of Noon Energy's carbon-oxygen multi-day chemistry to firm 24x7 AI/data-center load. First 25 MW / 2.5 GWh pilot targeted for 2028. Announced together with Meta's Overview Energy space-solar reservation (ppa-2026-022) as a paired 'always-on' clean-firm package. | |
| Apr 27 | Permitting | Solar+BESS | Soda Mountain Solar, LLC (subsidiary of VC Renewables / Vitol) | — | $700M | CA | Approved | California Energy Commission certified the Final EIR and authorized the project under SB 149's Opt-In Certification — the first utility-scale renewable to clear the expedited state review. Includes a redesigned bighorn sheep migration corridor and a community benefits agreement with Friends of El Mirage. Same Vitol/VC Renewables platform that recently delivered the Medway BESS in Massachusetts (tc-2026-002). Still subject to BLM right-of-way approval. |
Change of Control
5 movesDan Sumner promoted to President and Chief Executive Officer at Westinghouse Electric Company (from Interim Chief Executive Officer, Westinghouse Electric Company)
Sumner formalized as permanent CEO after 12 months as interim. Westinghouse veteran (joined 2010) — served as CFO 2017-2023 before running the Operating Plant business. Takes the helm as nuclear OEMs face surging US clean-firm demand from data-center developers and a renewed federal new-build push.
Chalyse Robinson joined as Partner, Finance — Denver & New York at Vinson & Elkins LLP (from Partner, Finance, WilmerHale)
Finance partner joining V&E's Denver/New York platform from WilmerHale — directly relevant for renewable project debt and capital-markets work alongside V&E's tax-equity practice. Part of a four-partner WilmerHale lift-out.
David Strong joined as Partner, Tax — Denver & New York at Vinson & Elkins LLP (from Partner, Tax, WilmerHale)
Tax partner joining V&E from WilmerHale — directly relevant for ITC/PTC tax-equity structuring and §6418 transferability deals. Part of the four-partner team lift-out anchoring V&E's new Denver platform.
Keith Trammell joined as Partner, Corporate (M&A / Capital Markets) — Denver & New York at Vinson & Elkins LLP (from Partner, Corporate, WilmerHale)
Lead partner of a four-attorney corporate team that V&E lifted from WilmerHale across Denver, New York and DC. V&E ranks as a top-3 energy law firm; the team gives V&E a Denver platform and deepens its M&A bench supporting renewable and IPP transactions.
Alex Bahn joined as Partner, Corporate (Governance / Securities / Capital Markets) — Washington, DC at Vinson & Elkins LLP (from Partner, Corporate, WilmerHale)
Securities and capital-markets partner anchoring V&E's DC corporate bench. Fourth member of the WilmerHale lift-out, bringing public-company governance and offering experience to V&E's energy-issuer client base.
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