ISO / RTO
Clean Energy Deals in MISO
Midcontinent grid — large geographic footprint covering 15 states; long interconnection queues and significant utility integrated-resource-plan activity.
64
Tracked Deals
64.3 GW
Total Capacity
$74.11B
Disclosed Value
2023–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Oct 1, 2025 | Lighthouse Campus — ~2 GW renewable energy infrastructure… Vantage Data Centers / WEC Energy Group → Oracle / OpenAI | 2.0 GW | $15B campus investment |
| Dec 17, 2024 | StarPlus Energy lithium-ion battery cell factories — ~67 … StarPlus Energy LLC (Stellantis + Samsung SDI JV) → U.S. Department of Energy (ATVM Program) | — | $7.54B ($6.85B principal + $688M capitalized interest) |
| Nov 1, 2024 | DTE Electric renewable generation and storage — solar, wi… DTE Electric Company → US Department of Energy | 3.0 GW | $7.17B |
| May 6, 2024 | ALLETE Inc. — regulated utility with renewable, hydro, an… CPP Investments, Global Infrastructure Partners | 3.0 GW | $6.2B |
| Nov 8, 2024 | Consumers Energy grid modernization — solar, wind, batter… Consumers Energy → US Department of Energy | 2.0 GW | $5.23B |
| Oct 18, 2024 | Grain Belt Express — 2,500 MW HVDC transmission line conn… Grain Belt Express → US Department of Energy | 2.5 GW | $4.9B |
| Mar 17, 2026 | LFP Prismatic Battery Cell Manufacturing — Lansing, Michi… LG Energy Solution → Tesla | — | $4.3B |
| Jul 15, 2025 | Brookfield US hydroelectric portfolio — Holtwood (250 MW)… Brookfield Renewable → Google (Alphabet) | 3.0 GW | $3B+ (initial 670 MW); larger framework value undisclosed |
| Jan 12, 2026 | Three projects totaling ~670 MW: Emerson Creek Wind (269 … Apex Clean Energy → Multiple (see notes) | 670 MW | $2.79B |
| Dec 15, 2024 | WEC Energy 1.7 GW renewable portfolio — utility-scale sol… Wisconsin Electric Power Company → US Department of Energy | 1.7 GW | $2.5B |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Meta | 5 | $321M |
| 2 | US Department of Energy | 4 | $19.80B |
| 3 | Meta Platforms | 4 | $809M |
| 4 | 3 | — | |
| 5 | SMBC, ING, Crédit Agricole CIB, MUFG, National Australia Bank | 2 | $809M |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Treaty Oak Clean Energy | 4 | $809M |
| 2 | Recurrent Energy (Canadian Solar) | 3 | $360M |
| 3 | ENGIE North America | 3 | $1.00B |
| 4 | Invenergy | 3 | $1.10B |
| 5 | NextEra Energy Resources | 3 | — |
Top Lenders
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Barclays | 1 | $140M |
| 2 | BayernLB | 1 | $437M |
| 3 | DOE LPO (EIR Program) | 1 | $1.52B |
| 4 | MUFG | 1 | $321M |
| 5 | Bank of America | 1 | $305M |
Top Legal Counsel
| # | Firm | Deals |
|---|---|---|
| 1 | Latham & Watkins | 3 |
| 2 | Milbank | 2 |
| 3 | Sidley Austin | 1 |
| 4 | Vinson & Elkins | 1 |
| 5 | Kirkland & Ellis | 1 |
Technology Mix
Deal Type Mix
- Project Finance28
- Power Purchase & Offtake20
- Corporate M&A5
- Project & Portfolio M&A5
- Tax Equity & Tax Credits3
Activity by Year
Recent Deals
Latest 10- Xcel Energy CapacityConnect Phase 2 — 50–200 MW utility-owned battery storage…Apr 8, 2026
Regulatory & Permits · MN · $430M · 200 MW
- Heelstone — Alligator Creek Solar (104 MW, Wheeler County GA) + Murch Solar (…Apr 7, 2026
Project Finance · GA, MI · 206 MW
- Xcel Energy Capacity*Connect — 50–200 MW distributed BESS program, Minnesota …Apr 2, 2026
Power Purchase & Offtake · MN · $430,000,000 · 200 MW
- Entergy Louisiana / Meta Northeast Louisiana Data Center — up to 2,500 MW sol…Mar 27, 2026
Power Purchase & Offtake · LA · 2,500 MW
- DTE Electric 1,332 MW Battery Storage Portfolio — 6 projects approved by Mich…Mar 27, 2026
Regulatory & Permits · MI · 1,332 MW
- Watertown Solar — 172 MWdc utility-scale solar, Sanilac County, MichiganMar 24, 2026
Project Finance · MI · 172 MW
- Undisclosed Solar Project — ArkansasMar 23, 2026
Power Purchase & Offtake · AR · 250 MW
- LFP Prismatic Battery Cell Manufacturing — Lansing, Michigan (former Ultium C…Mar 17, 2026
Strategic & Growth Capital · MI · $4.3B
- Wheatland Solar — 210 MWdc / 150 MWac utility-scale solar, Knox County, IndianaMar 17, 2026
Project Finance · IN · 150 MW
- Samsung SDI prismatic ESS battery supply — multi-GWh deal from StarPlus Energ…Mar 16, 2026
Corporate M&A · IN · $1B
Recent Moves at Active Firms
All moves →Terrell Kirk Crews II departed NextEra EnergyMar 5, 2026
Jennifer Gasser joined as Partner, Energy and Infrastructure M&A at Paul WeissMar 3, 2026
David Carroll appointed Board Chair at American Clean Power AssociationFeb 23, 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
Related
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