STATE
Clean Energy Deals in Alabama
Every tracked clean energy deal in Alabama since 2023 — 7 transactions, 23.4 GW of capacity, $28.63B of disclosed value. Includes M&A, project finance, PPAs, and tax credit transfers. Updated weekly.
7
Tracked Deals
23.4 GW
Total Capacity
$28.63B
Disclosed Value
2023–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Feb 25, 2026 | Southern Company grid reliability program — 16 GW firm po… Georgia Power / Alabama Power (Southern Company subsidiaries) → US Department of Energy — Office of Energy Dominance Financing | 16.0 GW | $26.5B |
| Feb 1, 2025 | $857M of Section 45X AMPCs from 2024 US solar module prod… First Solar → Undisclosed | — | $857M (at $0.955 per $1.00) |
| Dec 22, 2023 | Section 45X Advanced Manufacturing Production Tax Credits… First Solar → Fiserv, Inc. | — | Up to $700M (at $0.96/$1) |
| Nov 21, 2024 | Three-solar portfolio — 225 MWdc solar across Alabama and… Pine Gate Renewables → SMBC (CLA/Bookrunner), Nord/LB, Santander | 225 MW | $290M (back leverage debt + ITC transfer) |
| Mar 3, 2026 | Pine Gate Renewables ~1 GW solar portfolio — 9 projects a… Pine Gate Renewables → Nofar USA (Nofar Energy) | 979 MW | $285M |
| Sep 3, 2025 | Six future ENTRA1 SMR plants — 6 GW total (~72 NuScale 77… ENTRA1 Energy (NuScale technology) → TVA | 6.0 GW | — |
| Apr 21, 2026 | Crawfish Creek Energy Storage — 200 MW / 800 MWh standalo… Plus Power → TVA | 200 MW | — |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Undisclosed | 1 | $857M |
| 2 | Nofar USA (Nofar Energy) | 1 | $285M |
| 3 | US Department of Energy — Office of Energy Dominance Financing | 1 | $26.50B |
| 4 | TVA | 1 | — |
| 5 | TVA | 1 | — |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | First Solar | 2 | $1.56B |
| 2 | Pine Gate Renewables | 2 | $575M |
| 3 | Georgia Power / Alabama Power (Southern Company subsidiaries) | 1 | $26.50B |
| 4 | Plus Power | 1 | — |
| 5 | ENTRA1 Energy (NuScale technology) | 1 | — |
Top Legal Counsel
| # | Firm | Deals |
|---|---|---|
| 1 | Clifford Chance | 1 |
| 2 | Latham & Watkins LLP; Hunton Andrews Kurth LLP | 1 |
Technology Mix
Deal Type Mix
- Tax Equity & Tax Credits2
- Project Finance2
- Power Purchase & Offtake2
- Project & Portfolio M&A1
Activity by Year
Recent Deals
Latest 7- Crawfish Creek Energy Storage — 200 MW / 800 MWh standalone BESS, Jackson Cou…Apr 21, 2026
Power Purchase & Offtake · AL · 200 MW
- Pine Gate Renewables ~1 GW solar portfolio — 9 projects across NC, SC, AL, TX…Mar 3, 2026
Project & Portfolio M&A · AL, NC, SC, TX · $285M · 979 MW
- Southern Company grid reliability program — 16 GW firm power including 5 GW n…Feb 25, 2026
Project Finance · AL, GA · $26.5B · 16,000 MW
- Six future ENTRA1 SMR plants — 6 GW total (~72 NuScale 77-MW VOYGR modules)Sep 3, 2025
Power Purchase & Offtake · AL, GA, KY, MS, NC, TN, VA · 6,000 MW
- $857M of Section 45X AMPCs from 2024 US solar module production (Ohio + Alaba…Feb 1, 2025
Tax Equity & Tax Credits · AL, OH · $857M (at $0.955 per $1.00)
- Three-solar portfolio — 225 MWdc solar across Alabama and TexasNov 21, 2024
Project Finance · AL, TX · $290M (back leverage debt + ITC transfer) · 225 MW
- Section 45X Advanced Manufacturing Production Tax Credits (AMPCs) from US-man…Dec 22, 2023
Tax Equity & Tax Credits · AL, LA, OH · Up to $700M (at $0.96/$1)
Recent Moves at Active Firms
All moves →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
Neal Kemkar joined as Chief Network Officer at CeresFeb 9, 2026
John Stavinoha joined as Partner, M&A and Private Equity (Energy) at Latham & WatkinsJan 1, 2026
Related
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