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DealFlow.energy
The market, summarized. Every Monday.
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In this issue:
Deals (9)
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Moves (3)
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Dealflow: The Week in Deals
February 16 - 22
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Deal
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Size
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Tech
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Sumac + Sweetleaf Projects — 222 MWdc solar (NC)
Geenex → CleanChoice Energy
Project & Portfolio M&A
NC
CleanChoice triples generation capacity to 332 MW. Two utility-scale solar projects in North Carolina, marking expans...
GlobeNewswire ↗
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222 MW
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Solar
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Solstice — community solar platform (3+ GW under management)
MyPower (Mitsui & Co.) → Perch Energy
Corporate M&A
Multi-state
Perch becomes largest pure-play community solar platform in the US — 3+ GW across 1,000+ projects in 16 states. Strat...
GlobeNewswire ↗
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3.0 GW
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Solar
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Corporate financing — energy storage technology
Energy Vault Holdings (NRGV) → Convertible note investors
Corporate M&A
CA · $150M
Convertible notes financing. First positive adjusted EBITDA ($5-10M) in Q4 2025. Strategic pivot to AI data center en...
Business Wire ↗
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0 MW
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Battery Storage
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Series B — next-gen power grid manufacturing
Heron Power → Andreessen Horowitz, Breakthrough Energy Ventures
Corporate M&A
Multi-state · $140M
Series B to build a 40 GW automated US manufacturing facility for next-gen power grid infrastructure. Notable VC conv...
GlobeNewswire ↗
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0 MW
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Other
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Duffy BESS — 235 MW / 470 MWh lithium-ion battery storage, Matagorda County, ...
Linea Energy → DESRI (preferred equity)
Project Finance
TX
DESRI signed preferred equity financing agreement with Linea Energy for Duffy BESS. Debt structure (closed December 2...
PR Newswire ↗
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235 MW
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Battery Storage
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Heron Power $140M Series B — Heron Link solid-state transformer for grid mode...
Heron Power → Andreessen Horowitz (a16z American Dynamism Fund, co-lead), Breakthrough Energy Ventures (co-lead), Capricorn Investment Group, Energy Impact Partners, Valor Atreides AI Fund, Gigascale Capital
Strategic & Growth Capital
CA · $140M
Heron Power raises $140M Series B co-led by Andreessen Horowitz (a16z American Dynamism Fund) and Breakthrough Energy...
GlobeNewswire ↗
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null MW
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Other
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Northern Divide Energy Storage — 100 MW / 400 MWh BESS, Burke County ND — Bas...
NextEra Energy Resources → Basin Electric Power Cooperative
Power Purchase & Offtake
ND · $128,600,000
NextEra Energy Resources receives NDPSC Certificate of Site Compatibility for the 100 MW / 400 MWh Northern Divide En...
Energy Storage News ↗
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100 MW
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Battery Storage
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Three-project portfolio: AC Ranch 1 (75 MW solar, NM), Yellow Viking (170 MW ...
Lydian Energy → CIBC, MUFG
Project Finance
NM, TX, UT · $689M
First full-stack financing closed by Lydian (founded 2024). Three-project portfolio demonstrates institutional appeti...
ESG Today ↗
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395 MW
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Hybrid
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Philip Wind Project — 333 MW, up to 87 turbines, Haakon County, South Dakota
Invenergy (Philip Wind Partners)
Regulatory & Permits
SD · ~$750M (est. project cost)
South Dakota PUC approves largest wind farm in state history. Invenergy subsidiary Philip Wind Partners plans 87-turb...
Electrek ↗
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333 MW
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Wind
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View Full Database →
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Change of Control: The Week in Talent
3 notable moves
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Justin Johnson has stepped into the role of Interim Chief Executive Officer at Arevon Energy.
Steps up from COO after Kevin Smith's resignation. Arevon owns and operates ~6 GW of solar and storage across 18 states.
Press release ↗
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Kevin Smith departed Arevon Energy as Chief Executive Officer.
Smith's exit leaves a leadership gap atop one of the largest US independent solar and storage platforms (~6 GW, ~$11B invested). COO Justin Johnson has stepped in as interim CEO.
Press release ↗
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Seth Richardson has been promoted to Partner, Project Development & Finance at Latham & Watkins.
San Diego-based renewable energy project finance lawyer elected to partnership as part of Latham's 2026 class. Advises sponsors, investors, and lenders on development and financing of renewable energy projects, data centers, and LNG terminals.
Press release ↗
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View All Moves →
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