BuyerSellerLender / Financier
CPP Investments
Track
4
Deals Tracked
$42.94B
Deal Value
31,600MW
Total Capacity
Geothermal
Top Technology
Deal Activity
Jan 7SellerCalpine Corporation — 27 GW natural gas + geothermal fleet, creating 55 GW combined companyCorporate M&AGeothermal$26.60B27,000 MW
Sep 23BuyerSempra Infrastructure Partners — 45% stake in North American energy infrastructure (LNG, pipelines, 1,600+ MW renewables, gas power)Corporate M&ASolar + Storage$10.00B1,600 MW
May 6BuyerALLETE Inc. — regulated utility with renewable, hydro, and transmission assets across Upper Midwest (Minnesota Power)Corporate M&ASolar + Storage$6.20B3,000 MW
Aug 22LenderFervo Energy Series C — enhanced geothermal systems (EGS) using horizontal drillingStrategic & Growth CapitalGeothermal$138M
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