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DealFlow.energy
The market, summarized. Every Monday.
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19
Deals
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19,916.4
MW
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14
Moves
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In this issue:
Deals (19)
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Moves (14)
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Dealflow: The Week in Deals
March 16 - 22
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Deal
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Size
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Tech
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PORTS Technology Campus — 10 GW AI data center + up to 10 GW power generation...
SoftBank Group; SB Energy; AEP Ohio
Project Finance
OH · ~$33B (Phase 1; $500B+ over 50 years)
SoftBank CEO Masayoshi Son broke ground on March 20 at the former DOE Portsmouth uranium enrichment site in Piketon, ...
SoftBank Group ↗
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10.0 GW
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Natural Gas
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Cape Station Enhanced Geothermal System (EGS) — Phase 1 ~100 MW, scaling to 5...
Fervo Energy → RBC Capital Markets, Barclays, BBVA, HSBC, MUFG, Société Générale, J.P. Morgan, Bank of America, Sumitomo Mitsui Trust Bank
Project Finance
UT · $421M
First commercial-scale non-recourse project finance for an enhanced geothermal system (EGS) in the US. Debt package: ...
Renewable Energy World ↗
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500 MW
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Geothermal
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Great Bend Solar — utility-scale solar (~48 MWac), Meigs County, Ohio
Doral Renewables LLC → Fifth Third Bank (tax equity); HSBC (term debt + LC); KeyBank (term debt); Third-party tax credit buyer
Project Finance
OH · $103M
Doral Renewables completes final funding for Great Bend Solar in Meigs County, OH. Total financing: $27M+ tax equity ...
PR Newswire ↗
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48 MW
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Solar
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Constellation PJM natural gas generation portfolio — 4.4 GW across Delaware a...
Constellation Energy → LS Power
Project & Portfolio M&A
DE, PA · $5B
Required divestiture for Constellation's $16.4B Calpine acquisition (closed Jan 2026). DOJ and FERC required disposal...
Constellation Energy ↗
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4.4 GW
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Natural Gas
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Norton Solar Project — 159 MWdc / 125 MWac solar PV, Runnels County, Texas (E...
Avantus
Project & Portfolio M&A
TX
Avantus completes 159 MWdc / 125 MWac Norton Solar Project in Runnels County, Texas with co-owner Toyota Tsusho Ameri...
Solar Power World ↗
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125 MW
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Solar
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LFP Prismatic Battery Cell Manufacturing — Lansing, Michigan (former Ultium C...
LG Energy Solution → Tesla
Strategic & Growth Capital
MI · $4.3B
Tesla confirmed by US government as buyer in LG Energy Solution's $4.3B LFP supply agreement. LG will repurpose the 5...
CNBC ↗
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0 MW
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Battery Storage
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Wheatland Solar — 210 MWdc / 150 MWac utility-scale solar, Knox County, Indiana
Origis Energy → J.P. Morgan; MUFG
Project Finance
IN
Origis Energy achieved commercial operations on Feb 27, 2026 for its 210 MWdc / 150 MWac Wheatland Solar project in K...
PR Newswire ↗
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150 MW
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Solar
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Garden State Energy Storage Program — 355 MW BESS across 3 projects in New Je...
Jupiter Power; Elevate Renewables; North America Energy Storage Corp → New Jersey Board of Public Utilities
Power Purchase & Offtake
NJ
NJ Board of Public Utilities awarded Garden State Energy Storage Program incentives to three transmission-connected B...
Utility Dive ↗
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355 MW
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Battery Storage
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Lupinus I & II Solar + BESS (520 MWdc solar / 411 MWh, Franklin County TX) + ...
Sunraycer Renewables (Crayhill Capital Management)
Project Finance
TX
Sunraycer Renewables (backed by Crayhill Capital Management) breaks ground on a 620 MWdc solar + 477 MWh BESS portfol...
PR Newswire ↗
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620 MW
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Solar
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SolBank 3.0 BESS Supply — US Data Center Grid Support
e-STORAGE (Canadian Solar) → Undisclosed Major US Utility
Power Purchase & Offtake
Multi-state
e-STORAGE (Canadian Solar subsidiary) to deliver 2.5 GWh BESS comprising 500 SolBank 3.0 containers (500 MW / 2,493 M...
PR Newswire ↗
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500 MW
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Battery Storage
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SunDog Energy Center — 200 MW solar + 200 MW / 800 MWh battery storage, Pinal...
Invenergy → Salt River Project (SRP)
Power Purchase & Offtake
AZ
First partnership between SRP and Invenergy. SRP is Arizona's largest utility and is targeting more than doubling its...
Salt River Project ↗
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200 MW
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Hybrid
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Ultium Cells Spring Hill LFP Retool — $70M retooling of Tennessee EV battery ...
Ultium Cells LLC (GM + LG Energy Solution JV)
Strategic & Growth Capital
TN · $70M
Ultium Cells LLC (GM + LG Energy Solution JV) invests $70M to retool its Spring Hill, Tennessee facility from EV batt...
Electrek (Ultium Cells official announcement, March 17, 2026) ↗
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null MW
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Battery Storage
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Crimson Orchard — 120 MW solar + 400 MWh BESS in Elmore County, Idaho
Enlight Renewable Energy → HSBC, ING, KeyBanc Capital Markets, MUFG
Project Finance
ID · $304M
$304M construction financing and term debt commitments. Post-COD term loan of $166M at 5.8% all-in. 20-year busbar so...
GlobeNewsWire ↗
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120 MW
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Hybrid
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Maricopa Energy Center — 550 MW solar + 2,200 MWh BESS in Arizona (largest re...
Copia Power → BNP Paribas, CIBC, Credit Agricole CIB, KeyBanc Capital Markets, Natixis CIB, Wells Fargo, CoBank
Project Finance
AZ · $1.71B
$1.71B construction loan with BNP Paribas, CIBC, Credit Agricole CIB, KeyBanc Capital Markets, Natixis CIB, and Wells...
Copia Power ↗
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550 MW
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Hybrid
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Samsung SDI prismatic ESS battery supply — multi-GWh deal from StarPlus Energ...
Samsung SDI → Undisclosed US energy firm
Corporate M&A
IN · $1B
4-year ESS battery supply contract (2026-2029) worth ~$1B (1.5 trillion won). Cells produced at StarPlus Energy JV pl...
Korea Herald ↗
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0 MW
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Battery Storage
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Revolution Wind — 700 MW offshore wind, offshore Rhode Island
Ørsted; Skyborn Renewables (Global Infrastructure Partners) → Rhode Island and Connecticut utilities
Project Finance
RI
Revolution Wind achieved commercial operations on March 16, 2026, becoming the third US offshore wind project to deli...
Utility Dive ↗
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700 MW
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Offshore Wind
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Project Cannoli — 1,600 MW solar + 480 MW battery storage + demand flexibilit...
DTE Energy → Google (Alphabet Inc.)
Power Purchase & Offtake
MI · Undisclosed (20-year term; assets built at Google's cost)
DTE Energy Board approved a Primary Supply Agreement (PSA) and Clean Capacity Accelerator Agreement (CCAA) with Googl...
Bloomberg ↗
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1.6 GW
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Solar
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New Mexico Community Solar Portfolio — 8 projects, 48.4 MW, statewide NM
ForeFront Power
Power Purchase & Offtake
NM
ForeFront Power, Pluma Construction, and Standard Solar bring 8-project 48.4 MW community solar portfolio to New Mexi...
BusinessWire ↗
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48.4 MW
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Solar
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Halcyon $21M Series A — AI platform for energy regulatory intelligence and gr...
Halcyon → Energize Capital (lead), Zero Infinity Partners, Congruent Ventures, Obvious Ventures, Sabanci Climate Ventures
Strategic & Growth Capital
Multi-state · $21M
Halcyon raises $21M Series A led by Energize Capital. Halcyon builds an AI software platform that aggregates and orga...
BusinessWire ↗
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null MW
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Other
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View Full Database →
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Change of Control: The Week in Talent
14 notable moves
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Justin Johnson has been promoted to Chief Executive Officer at Arevon Energy (from Interim Chief Executive Officer, Arevon Energy).
Johnson converts from interim to permanent CEO after a 2025 in which Arevon brought 1.7 GW online and raised $2.3B in project financing — a performance that made his case. The COO seat he vacated remains unfilled as Arevon searches for a successor.
Press release ↗
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Christina Akay has been promoted to Chief Marketing Officer at SolaREIT (from Director of Marketing, SolaREIT).
Akay's elevation to CMO from Director reflects SolaREIT's deliberate brand-building push as the minority- and women-owned REIT expands beyond generation site financing into substation and transmission corridor capital (3 GW / $5B in deals financed to date).
Trade pub ↗
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Albert Cheung has been promoted to Chief Executive Officer at BloombergNEF (from Deputy Chief Executive Officer, BloombergNEF).
Cheung succeeds Jon Moore after 12 years as BNEF CEO; as the sector's premier energy transition data and analytics provider, BNEF's CEO transition matters to the entire clean energy investment community. Cheung has led BNEF's global transition research since 2017.
Press release ↗
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Matt Tormollen is the new Chief Executive Officer at Ascend Analytics (from Chief Executive Officer, POWWR).
Tormollen succeeds founder Dr. Gary Dorris (transitioning to Executive Chair & Chief Economist) at Ascend Analytics, which serves 250+ utilities, financiers, developers, and IPPs with power market intelligence tools. Backed by Rubicon Technology Partners, Galvanize, and Silversmith Capital Partners.
Press release ↗
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Emily Cohen was appointed Independent Director at Array Technologies, Inc. (from Chief Commercial Officer, Primergy Solar).
Cohen brings 20+ years of clean energy project development experience to Array Technologies board — as CCO of Primergy Solar (a full-service utility-scale solar and BESS developer), she deepens Array's connection to the utility-scale developer community.
Press release ↗
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Carolyne Murff was appointed Independent Director at Array Technologies, Inc. (from Chief Executive Officer, Clearlight Energy).
Murff brings 30+ years of energy industry experience including 20+ at LS Power to Array's board; her current role as CEO of Clearlight Energy (LS Power, 4.3 GW operating fleet across 54 renewable projects) gives Array direct insight into large IPP procurement and operational requirements.
Press release ↗
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John P. Schauerman departed Primoris Services Corporation as Board of Directors Member.
Schauerman will not stand for re-election at Primoris's April 30, 2026 Annual Meeting, retiring after a decade on the board; Primoris is a top-tier EPC contractor for utility-scale solar and storage projects across the US.
SEC filing ↗
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Samuel Leupold was appointed Board Member (Proposed, pending AGM vote April 9, 2026) at Ørsted (from Executive Vice President and CEO Wind Power, Ørsted / DONG Energy).
Leupold's return to the Ørsted orbit is notable — he was one of the architects of DONG Energy's pivot to offshore wind. Joins alongside Karen Boesen (CFO, DFDS) and Karl Johnny Hersvik (CEO, Aker BP) as outgoing directors Judith Hartmann and Annica Bresky depart. Pending Ørsted AGM April 9, 2026.
Trade pub ↗
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Karen Boesen was appointed Board Member (Proposed, pending AGM vote April 9, 2026) at Orsted (from Chief Financial Officer, DFDS).
Boesen brings CFO and logistics-sector capital markets experience from DFDS to Orsted board. One of three nominees proposed at March 17 AGM notice alongside Samuel Leupold and Karl Johnny Hersvik, as outgoing directors Judith Hartmann and Annica Bresky decline re-election. Pending shareholder vote April 9, 2026.
Source ↗
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Karl Johnny Hersvik was appointed Board Member (Proposed, pending AGM vote April 9, 2026) at Orsted (from Chief Executive Officer, Aker BP).
Hersvik brings offshore energy sector expertise as sitting CEO of Aker BP to the Orsted board. One of three nominees proposed at March 17 AGM notice alongside Samuel Leupold and Karen Boesen. Pending shareholder vote April 9, 2026.
Source ↗
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Brendan Burtis has been promoted to Vice President, Finance at SolaREIT (from SolaREIT).
Part of a coordinated SolaREIT leadership expansion timed to the firm's move into grid infrastructure real estate financing — Burtis will support structuring of substation and transmission land capital deals.
Trade pub ↗
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Valerio Lombardo is the new Executive Vice President of Corporate Finance at SolaREIT (from Senior Finance Director, Fluence).
Lombardo joins SolaREIT as it expands its land financing platform beyond solar farms to cover substations and transmission corridors — addressing a key interconnection bottleneck for US solar and storage development.
Trade pub ↗
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Andrés Gluski has been named President and Chief Executive Officer → Chief Executive Officer at AES Corporation (from President and Chief Executive Officer, AES Corporation).
As part of the AES Corp leadership restructuring coinciding with the $33.4B GIP/EQT take-private announcement, Gluski ceded the President title to Ricardo Falú while retaining the CEO role. Juan Ignacio Rubiolo was simultaneously appointed EVP & COO. Effective March 2, 2026; disclosed in AES 8-K filed March 19, 2026 (Item 5.02).
SEC filing ↗
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George Burdette has been promoted to Chief Executive Officer (concurrent with CFO role) at Verde Clean Fuels (from Chief Financial Officer, Verde Clean Fuels).
Burdette takes the helm as Verde simultaneously engages Roth Capital Partners to evaluate strategic alternatives including merger, sale, or licensing of its STG+ gas-to-liquids technology. Background includes CFO roles at Arbor Renewable Gas and Itafos, and Head of Project Finance at First Solar (led sale of 8point3 Energy Partners). Departing CEO Ernie Miller stays on as senior advisor. Dual CEO/CFO appointment reflects cost pressure and restructuring.
Press release ↗
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