PNM Resources / Public Service Company of New Mexico — NM regulated utility (~525,000 customers)

TXNM Energy — regulated utility serving 800,000+ customers in Texas and New Mexico (PNM and TNMP subsidiaries)

TXNM Energy (NYSE: TXNM, public company) → Blackstone Infrastructure

$11.5B

FH Capital acquires 75.1% controlling stake in Jinko Solar (U.S.) Industries Inc. — 2 GW solar module manufacturing facility in Jacksonville, Florida (AllianceFlorida at Cecil Commerce Center, ~650 employees) plus a growing US BESS manufacturing line. JinkoSolar Holding retains 24.9%.

JinkoSolar Holding Co., Ltd. (NYSE: JKS) → FH Capital

$191M (per Nikkei Asia)

Salzburg Battery Energy Storage Project — 150 MW / 600 MWh standalone BESS in Midland Township, central Michigan. Permitted, advanced-stage interconnection. Targeted COD 2029-2030.

ESA Solar Energy, LLC → Ørsted

SOLV Energy acquires Roberson Waite Electric (RWE) — Anaheim, CA-based utility substation construction, testing, commissioning, and infrastructure services contractor founded in 1975; expands SOLV’s service capabilities into regulated utility market; RWE will operate as a SOLV company retaining current leadership and customer relationships; expected to close Q3 2026

Roberson Waite Electric → SOLV Energy

Aspen Power acquires two operating rooftop solar projects from The Avidan Group — 6.44 MWdc combined in PSE&G territory, NJ; the systems have operated more than a decade and produce ~7 million kWh/yr (~1,000-home equivalent)

The Avidan Group → Aspen Power

Arcadia acquires ENGIE Impact — utility expense & data management, energy procurement, and sustainability advisory business; Washington, DC-based Arcadia carves the unit out of ENGIE to build an AI-powered energy management platform

ENGIE → Arcadia