ISO / RTO
Clean Energy Deals in ISO-NE
New England grid — clean energy procurements driven by state RFPs (Mass CES, Conn LREC) plus the offshore wind buildout off the South Coast.
16
Tracked Deals
22.0 GW
Total Capacity
$11.50B
Disclosed Value
2023–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Jan 5, 2026 | Cogentrix Energy — 10 natural gas generation facilities, … Quantum Capital Group (Cogentrix) → Vistra Corp | 5.5 GW | $4B ($2.3B cash + $0.9B stock + $1.5B debt - $0.7B tax benefits) |
| Aug 5, 2024 | Cogentrix Energy — 5,300 MW (11 natural gas plants) acros… Carlyle Group → Quantum Capital Group | 5.3 GW | $3B |
| Oct 1, 2025 | Natural gas portfolio — 2.6 GW across 7 gas plants in PJM… Lotus Infrastructure Partners → Vistra Corp | 2.6 GW | $1.9B |
| Oct 25, 2023 | Vineyard Wind 1 — 800 MW offshore wind, ~15 miles off Mar… Avangrid + Copenhagen Infrastructure Partners (CIP) JV → J.P. Morgan, Bank of America, Wells Fargo (tax equity) | 800 MW | $1.2B (largest single-asset tax equity ever) |
| Feb 12, 2024 | Eversource 50% stake in South Fork Wind (132 MW, off Long… Eversource Energy → Global Infrastructure Partners (GIP/BlackRock) | 836 MW | $745M (revised down from $1.1B initial) |
| Jun 17, 2025 | 112 MWdc portfolio of 28 community solar projects across … Dimension Energy → First Citizens Bank, ING, MUFG, National Bank of Canada, Siemens, Cadence, Comerica, Advantage Capital | 112 MW | $360M |
| Mar 31, 2026 | Medway Grid Energy Storage System — 250 MW standalone BES… VC Renewables (Vitol) → Advantage Capital | 250 MW | $158,000,000 |
| Nov 7, 2025 | Cross Town BESS — 175 MW / 350 MWh, Gorham, Maine (larges… Plus Power → Plus Power | 175 MW | $65M (tax equity from Morgan Stanley) |
| Jun 30, 2023 | SouthCoast Wind (formerly Mayflower Wind) — 1,200 MW offs… Avangrid + Shell → Massachusetts EDCs | 1.2 GW | $60M termination payment |
| Oct 3, 2023 | Park City Wind — 804 MW offshore wind, Connecticut OREC c… Avangrid → Eversource Energy + United Illuminating (CT EDCs) | 804 MW | $16M termination fee |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Vistra Corp | 2 | $5.90B |
| 2 | Massachusetts EDCs | 2 | $1.26B |
| 3 | First Citizens Bank, ING, MUFG, National Bank of Canada, Siemens, Cadence, Comerica, Advantage Capital | 1 | $360M |
| 4 | Plus Power | 1 | $65M |
| 5 | Morgan Stanley (tax equity) | 1 | $65M |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Dimension Energy | 1 | $360M |
| 2 | Plus Power | 1 | $65M |
| 3 | Quantum Capital Group (Cogentrix) | 1 | $4.00B |
| 4 | Avangrid Renewables | 1 | — |
| 5 | Lotus Infrastructure Partners | 1 | $1.90B |
Top Lenders
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Morgan Stanley | 1 | $65M |
Technology Mix
Deal Type Mix
- Power Purchase & Offtake6
- Project & Portfolio M&A4
- Project Finance3
- Tax Equity & Tax Credits2
- Corporate M&A1
Activity by Year
Recent Deals
Latest 10- Medway Grid Energy Storage System — 250 MW standalone BESS, Medway, Massachus…Mar 31, 2026
Tax Equity & Tax Credits · MA · $158,000,000 · 250 MW
- Revolution Wind — 700 MW offshore wind, offshore Rhode IslandMar 16, 2026
Project Finance · RI · 700 MW
- Vineyard Wind 1 — 800 MW offshore wind, offshore Massachusetts (62 turbines)Mar 14, 2026
Project Finance · MA · 800 MW
- Lempster Wind (24 MW) + Groton Wind (48 MW) — 72 MW operating wind portfolio,…Jan 8, 2026
Power Purchase & Offtake · NH · 72 MW
- Cogentrix Energy — 10 natural gas generation facilities, 5,500 MW CCGT and CT…Jan 5, 2026
Corporate M&A · Multi-state · $4B ($2.3B cash + $0.9B stock + $1.5B debt - $0.7B tax benefits) · 5,500 MW
- Cross Town BESS — 175 MW / 350 MWh, Gorham, Maine (largest battery in ISO-NE …Nov 7, 2025
Project & Portfolio M&A · ME · $65M (tax equity from Morgan Stanley) · 175 MW
- Natural gas portfolio — 2.6 GW across 7 gas plants in PJM, ISO-NE, NYISO, CAISOOct 1, 2025
Project & Portfolio M&A · Multi-state · $1.9B · 2,600 MW
- 112 MWdc portfolio of 28 community solar projects across NJ, IL, DE, VA, ME, PAJun 17, 2025
Project Finance · DE, IL, ME, NJ, PA, VA · $360M · 112 MW
- SouthCoast Wind — 1,287 MW offshore wind, federal lease area south of Massach…Sep 6, 2024
Power Purchase & Offtake · MA, RI · Undisclosed OREC strike · 1,287 MW
- New England Wind 1 — 791 MW offshore wind, federal lease area OCS-A 0534, ~30…Sep 6, 2024
Power Purchase & Offtake · MA · Undisclosed OREC strike · 791 MW
Recent Moves at Active Firms
All moves →Jennifer Gasser joined as Partner, Energy and Infrastructure M&A at Paul WeissMar 3, 2026
Seth Richardson promoted to Partner, Project Development & Finance at Latham & WatkinsFeb 20, 2026
Thomas Verity joined as Partner, Energy M&A at Norton Rose FulbrightFeb 15, 2026
Neal Kemkar joined as Chief Network Officer at CeresFeb 9, 2026
Sean Wheeler joined as Partner, Co-Chair Global M&A; Head of Houston Office at Paul WeissFeb 3, 2026
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