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DealFlow.energy
The market, summarized. Every Monday.
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9
Deals
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9,805
MW
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10
Moves
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In this issue:
Editor's Note · Deals (9)
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Moves (10)
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Editor's Note
Editor's note — three to watch from last week.
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1
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The first US advanced nuclear plant is now under construction. TerraPower commenced construction on Natrium Kemmerer Unit 1 in Wyoming on Thursday — a 345 MW sodium-cooled fast reactor with integrated molten-salt storage that boosts peak output to 500 MW. Bechtel is EPC, PacifiCorp is offtaker, DOE ARDP is funding partner. COD targets 2031, and Meta has already signed a framework for up to eight Natrium plants by 2030.
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2
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Solar+Storage development pipelines reshuffled at scale on Tuesday. Three M&A closes on the same day moved roughly 8.5 GW between platforms: BrightNight bought out Cordelio Power's stake in their 15 GW joint venture, taking sole control of 6 GW of Western US development (CPP Investments exits); Lydian Energy (Excelsior-backed) acquired Hanwha Renewables' 1.45 GW Atlas North CAISO portfolio; Headwater Energy acquired Arena Renewables' ~1 GW DG pipeline. Pattern across all three: pension- and PE-backed platforms consolidating around projects mature enough to monetize.
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3
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TVA's standalone storage pipeline broke open. Two 20-year energy storage agreements signed with TVA on Tuesday: Tenaska's Bobwhite (225 MW / 900 MWh in East Tennessee, $300M project investment, COD 2029) and Plus Power's Crawfish Creek (200 MW / 800 MWh in Alabama, COD 2029). Both came out of TVA's early-2025 capacity RFP. Total contracted standalone BESS across TVA's seven-state footprint now stands at 425 MW — up from effectively zero a year ago.
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Dealflow: The Week in Deals
April 20 - 26
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Deal
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Size
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Tech
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Arena Renewables — distributed-generation solar + BESS developer with ~1 GW U...
Arena Renewables (founders / management) → Headwater Energy
Corporate M&A
Multi-state
Headwater Energy acquires Arena Renewables, a leading US distributed-generation solar and BESS developer with a ~1 GW...
PR Newswire ↗
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1.0 GW
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Solar + Storage
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Natrium Kemmerer Unit 1 — 345 MW sodium-cooled fast reactor with integrated m...
TerraPower → U.S. Department of Energy (Advanced Reactor Demonstration Program)
Other
WY
TerraPower formally commences construction on Natrium Kemmerer Unit 1 in Wyoming — the first utility-scale advanced n...
TerraPower ↗
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500 MW
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Nuclear
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Nottingham Solar — 120 MW utility-scale solar PV on a reclaimed coal strip mi...
CleanCapital → Energix Renewables
Project & Portfolio M&A
OH
CleanCapital sells its 120 MW Nottingham utility-scale solar project in Harrison County, Ohio to Energix Renewables. ...
BusinessWire ↗
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120 MW
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Solar
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Blevins Solar & Storage Project — ~272 MW solar + battery storage, Falls Coun...
Geronimo Power → FUJIFILM Holdings America Corporation + Bristol Myers Squibb (multi-buyer)
Power Purchase & Offtake
TX
15-year VPPA for 125 MW of the ~272 MW Blevins Solar & Storage Project, generating ~300,000 MWh/yr — covering 100% of...
Fujifilm Holdings ↗
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270 MW
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Solar + Storage
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Crawfish Creek Energy Storage — 200 MW / 800 MWh standalone BESS, Jackson Cou...
Plus Power → Tennessee Valley Authority (TVA)
Power Purchase & Offtake
AL
Plus Power's Crawfish Creek Energy Storage signs a 20-year Energy Storage Agreement with the Tennessee Valley Authori...
PR Newswire ↗
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200 MW
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Battery Storage
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Bobwhite Energy Storage — 225 MW / 900 MWh standalone BESS, Hawkins County, E...
Tenaska (Bobwhite Energy Storage affiliate) → Tennessee Valley Authority (TVA)
Power Purchase & Offtake
TN · $300,000,000
Bobwhite Energy Storage, an affiliate of Omaha-based Tenaska, signs a 20-year energy storage agreement with TVA for a...
PR Newswire ↗
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225 MW
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Battery Storage
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BrightNight–Cordelio Power JV portfolio buyout — 6 GW of development-stage so...
Cordelio Power → BrightNight
Project & Portfolio M&A
Multi-state
BrightNight acquires Cordelio Power's joint-venture interest, taking sole ownership of 6 GW of Western US development...
PR Newswire ↗
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6.0 GW
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Solar + Storage
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Atlas North portfolio — four late-stage projects totaling ~1,000 MW solar + 4...
Hanwha Renewables → Lydian Energy (backed by Excelsior Energy Capital)
Project & Portfolio M&A
CA
Lydian Energy acquires Hanwha Renewables' Atlas North portfolio: ~1.5 GW of late-stage solar + BESS in California (1,...
BusinessWire ↗
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1.4 GW
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Solar + Storage
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Tandem PV Fremont Factory — 65,000 sq ft commercial demonstration facility pr...
Tandem PV
Strategic & Growth Capital
CA
Tandem PV opens a 65,000 sq ft commercial demonstration factory in Fremont, CA producing perovskite-silicon tandem so...
BusinessWire ↗
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40 MW
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Solar
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View Full Database →
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Change of Control: The Week in Talent
10 notable moves
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Clay Corbus has been promoted to President and Chief Executive Officer at Clean Energy Fuels Corp (from Senior Vice President, Strategic Development and Head of Renewable Fuels, Clean Energy Fuels Corp).
19-year CLNE veteran succeeds co-founder Andrew Littlefair after 30+ years; Corbus led all M&A and capital-raising and built the company's RNG production and distribution businesses; Clean Energy operates North America's largest natural gas vehicle fueling network.
SEC filing ↗
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Andrew Littlefair departed Clean Energy Fuels Corp as President and Chief Executive Officer.
Littlefair co-founded CLNE with T. Boone Pickens in 2001 and led the company for 30+ years, building North America's largest natural gas fueling network; transitions to a three-year government relations consulting role ($750K/year) while remaining on the board.
SEC filing ↗
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Richard H. Little is the new Chief Executive Officer & Director at enCore Energy Corp. (from Resource industry executive, Ajax Resources / private resource-industry executive).
Little takes the helm at enCore Energy — the only US uranium producer with two operational ISR Central Processing Plants (both South Texas) — to accelerate licensing and cost discipline as US nuclear-fuel sovereignty becomes a bipartisan priority alongside the data-center power buildout. Compensation disclosed: $600K base. Previously engineered the $1.24B sale of Ajax Resources' Northern Midland Basin assets to Diamondback Energy.
Press release ↗
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Robert Willette departed enCore Energy Corp. as Chief Executive Officer.
Willette was replaced by unanimous vote of enCore's independent directors, indicating a board-driven decision rather than planned succession. Worth tracking for his next landing in the US uranium / nuclear-fuel space.
Press release ↗
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Aaron D. Moss has been promoted to Executive Vice President & Chief Financial Officer at Edison International (from Senior Vice President & Chief Financial Officer, Southern California Edison).
Moss steps up from SCE CFO to parent EIX CFO at $730K base + 85% target bonus + supplemental $603K LTI grant (25% options / 25% RSUs / 50% performance shares). A career SCE/EIX finance hand who served as Controller of both entities (2016–2022); confirms internal promotion strategy at California's largest IOU.
SEC filing ↗
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Maria Rigatti departed Edison International as Executive Vice President & Chief Financial Officer.
Long-tenured EIX CFO Rigatti retires after navigating wildfire-liability cycles and rate-base growth strategy at California's largest IOU. Steps down as CFO July 3, 2026 and full retirement Sept 1, 2026. Closes one of the longest-serving utility CFO seats in California.
SEC filing ↗
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Kathryn Mims has joined as Partner, US Antitrust (Washington, DC) at A&O Shearman (from Partner, Antitrust, White & Case).
Mims joins A&O Shearman's DC office bringing antitrust trial experience with deep energy, life-sciences, chemicals, and tech sector exposure — a notable bench-strengthening as FERC and DOJ scrutiny of power-sector M&A and merger review intensifies.
Law firm ↗
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William M. Sheriff was appointed Executive Chair (return) at enCore Energy Corp. (from Founder; former Executive Chair (had transitioned off executive role), enCore Energy Corp.).
Founder Sheriff returns to an executive-chair role alongside new CEO Richard Little, signaling a strategic reset for the leading US ISR uranium producer. Mirrors a pattern at other US critical-minerals juniors where founders re-engage in governance to navigate licensing and capital-markets cycles. Tied to the broader 2026 nuclear-fuel onshoring push.
Press release ↗
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M. Susan Hardwick was appointed Independent Director (Audit & Finance Committee; Compensation & Executive Personnel Committee) at Edison International (from Former Chief Executive Officer, American Water Works).
EIX board expanded from 11 to 12 seats to add Hardwick — a heavyweight utility-finance director with prior CEO/CFO experience at American Water and Vectren. Adds Audit + Compensation Committee depth as EIX prepares for the CFO transition from Rigatti to Moss.
SEC filing ↗
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Sana Ouji is the new Energy Lead at Anthropic (from Strategic Energy Investments and Partnerships Lead, Data Center Division, Google).
First dedicated energy role at Anthropic, signaling the AI lab's commitment to securing clean energy capacity for AI infrastructure; Ouji brings 6+ years managing Google's data center clean energy strategy across multiple geographies.
Trade pub ↗
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