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DealFlow.energy
The market, summarized. Every Monday.
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In this issue:
Deals (7)
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Moves (5)
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Dealflow: The Week in Deals
October 6 - 12
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Deal
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Size
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Tech
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Padua 2 (150 MW) + Padua 3 (200 MW) — 350 MW / 1.7 GWh battery energy storage...
Eolian → Natixis Corporate & Investment Banking (sole arranger)
Project Finance
TX · $463M
Largest battery storage site in Texas (1.8 GWh including operating Padua 1 50 MW/100 MWh). Natixis sole arranger of c...
Eolian ↗
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350 MW
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Battery Storage
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Project Soho — 400 MW / 800 MWh standalone BESS, Brazoria County, Texas (ERCOT)
Greenflash Infrastructure (H.I.G. Capital-backed) → Deutsche Bank (debt CLA), Wafra (preferred equity), Acadia Infrastructure Capital (preferred equity)
Project Finance
TX · Undisclosed (debt + preferred equity + tax credit sale)
Largest standalone BESS under construction in Texas at the time of close. Innovative hybrid debt + preferred equity +...
Greenflash ↗
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400 MW
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Battery Storage
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833 MWdc (613 MWac) operating solar portfolio across 8 states — concentrated ...
Deriva Energy / Manulife Investment Management → Clearway Energy (+ Fengate for Western assets)
Project & Portfolio M&A
Multi-state · $210-230M (Clearway investment); 12%+ 5-yr CAFD yield
Clearway acquires 613 MWac operating solar portfolio from Deriva Energy. 227 MWac Western assets via 50/50 JV with Fe...
GlobeNewswire ↗
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613 MW
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Solar
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NextEra's Distributed Generation platform — 900+ MW operating solar/storage +...
NextEra Energy Resources → Madison Energy Infrastructure (EQT)
Project & Portfolio M&A
Multi-state
Madison Energy (owned by EQT) acquires NextEra's distributed generation business — 900+ MW operating assets, 1 GW+ pi...
pv magazine USA ↗
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900 MW
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Solar
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Section 48 ITC (rooftop solar, East Windsor NJ) + Section 45X AMPCs (battery ...
Shiseido Americas, Harbinger Motors → Reunion Infrastructure
Tax Equity & Tax Credits
CA, NJ
Reunion purchased Section 48 ITCs from Shiseido Americas' rooftop solar at NJ manufacturing facility, plus Section 45...
Yahoo Finance ↗
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0 MW
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Other
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Cherry Solar — 300 MW utility-scale solar, North Carolina (expansion of Dec 2...
SunEnergy1 → Brookfield Renewable
Project & Portfolio M&A
NC
Brookfield expands SunEnergy1 partnership with 300 MW Cherry solar project in NC, bringing aggregate portfolio to 1,1...
Brookfield Renewable ↗
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300 MW
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Solar
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Gunnar Reliability BESS — 150 MW / 300 MWh, Hidalgo County, Texas (Lower Rio ...
Balanced Rock Power → GridStor
Project & Portfolio M&A
TX
GridStor acquires 150 MW/300 MWh BESS from Balanced Rock Power in ERCOT's Lower Rio Grande Valley. Expected operation...
Energy Storage News ↗
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150 MW
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Battery Storage
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View Full Database →
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Change of Control: The Week in Talent
5 notable moves
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Laura V. Swett is the new Chairman at Federal Energy Regulatory Commission (from Energy Litigation Partner, Vinson & Elkins).
Vinson & Elkins energy litigator (15-year FERC practice) confirmed by Senate Oct 7, 2025 alongside LaCerte; designated FERC Chair by Trump immediately after, replacing interim chair Rosner. Restores FERC to a 5-member commission and shifts the body to a 3-2 Republican majority during the data-center load-interconnect debate.
Press release ↗
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David A. LaCerte is the new Commissioner at Federal Energy Regulatory Commission (from Principal White House Liaison and Senior Advisor to the Director, U.S. Office of Personnel Management).
Confirmed by Senate Oct 7, 2025 alongside Swett. Brings FERC back to a full 5-member commission for the first time during 2025; expected to focus on grid reliability and generator interconnection reform.
Press release ↗
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Sanjay Shrestha departed Plug Power as President.
Shrestha exits the President role at Plug as the company unveils its broader CEO succession plan. Plug subsequently sued Shrestha alleging post-departure violations of restrictive covenants — a sour ending to a key tenure.
Press release ↗
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Jose Luis Crespo has been named President at Plug Power (from Chief Revenue Officer, Plug Power).
11-year Plug veteran and CRO Crespo named President effective Oct 10, with CEO succession set for March 2026. Architect of Plug's $8B+ sales funnel and Amazon/Walmart/Home Depot relationships.
Press release ↗
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George McNamee was appointed Lead Director at Plug Power (from Director, Plug Power).
McNamee elevated to Lead Director as Plug Power restructures the board and CEO suite — a governance signal alongside the Marsh-to-Crespo handoff.
Press release ↗
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View All Moves →
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