STATE
Clean Energy Deals in Michigan
Every tracked clean energy deal in Michigan since 2023 — 10 transactions, 9.5 GW of capacity, $18.51B of disclosed value. Includes M&A, project finance, PPAs, and tax credit transfers. Updated weekly.
10
Tracked Deals
9.5 GW
Total Capacity
$18.51B
Disclosed Value
2024–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Nov 1, 2024 | DTE Electric renewable generation and storage — solar, wi… DTE Electric Company → US Department of Energy | 3.0 GW | $7.17B |
| Nov 8, 2024 | Consumers Energy grid modernization — solar, wind, batter… Consumers Energy → US Department of Energy | 2.0 GW | $5.23B |
| Mar 17, 2026 | LFP Prismatic Battery Cell Manufacturing — Lansing, Michi… LG Energy Solution → Tesla | — | $4.3B |
| Sep 30, 2024 | Palisades Nuclear Plant restart — 800 MW nuclear generati… Holtec Palisades LLC → DOE Loan Programs Office | 800 MW | $1.52B |
| Mar 18, 2025 | Tibbits BESS (Michigan) + Tidwell Prairie BESS (Texas) — … Jupiter Power (BlackRock) → Barclays Bank PLC, HSBC Bank USA | 300 MW | $286M |
| Mar 16, 2026 | Project Cannoli — 1,600 MW solar + 480 MW battery storage… DTE Energy → Google (Alphabet Inc.) | 1.6 GW | Undisclosed (20-year term; assets built at Google's cost) |
| Mar 27, 2026 | DTE Electric 1,332 MW Battery Storage Portfolio — 6 proje… DTE Electric Co. | 1.3 GW | — |
| Apr 7, 2026 | Heelstone — Alligator Creek Solar (104 MW, Wheeler County… Heelstone Renewable Energy (a Qualitas Energy company) → Unnamed US hyperscale data center developer (long-term PPA) | 206 MW | — |
| Mar 24, 2026 | Watertown Solar — 172 MWdc utility-scale solar, Sanilac C… Linea Energy (sponsored by EnCap Investments L.P.) → Santander Corporate & Investment Banking (lead arranger), Société Générale, NORD/LB, Truist Bank (joint lead arrangers) | 172 MW | — |
| Apr 1, 2024 | 132 MW solar portfolio, Michigan Apple (via ib vogt) → Apple | 132 MW | — |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | US Department of Energy | 2 | $12.40B |
| 2 | Apple | 1 | — |
| 3 | DOE Loan Programs Office | 1 | $1.52B |
| 4 | Barclays Bank PLC, HSBC Bank USA | 1 | $286M |
| 5 | Consumers Energy (Tibbits — 20-year PPA), Undisclosed (Tidwell Prairie — long-term tolling) | 1 | $286M |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Apple (via ib vogt) | 1 | — |
| 2 | Holtec Palisades LLC | 1 | $1.52B |
| 3 | DTE Electric Company | 1 | $7.17B |
| 4 | Consumers Energy | 1 | $5.23B |
| 5 | Jupiter Power (BlackRock) | 1 | $286M |
Top Lenders
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | DOE LPO (EIR Program) | 1 | $1.52B |
| 2 | ING Capital LLC; NORD/LB | 1 | — |
| 3 | Zions Bancorporation N.A. | 1 | — |
| 4 | Stonehenge Capital | 1 | — |
Top Legal Counsel
| # | Firm | Deals |
|---|---|---|
| 1 | Latham & Watkins LLP | 1 |
| 2 | Milbank | 1 |
Technology Mix
Deal Type Mix
- Project Finance6
- Power Purchase & Offtake2
- Strategic & Growth Capital1
- Regulatory & Permits1
Activity by Year
Recent Deals
Latest 10- Heelstone — Alligator Creek Solar (104 MW, Wheeler County GA) + Murch Solar (…Apr 7, 2026
Project Finance · GA, MI · 206 MW
- DTE Electric 1,332 MW Battery Storage Portfolio — 6 projects approved by Mich…Mar 27, 2026
Regulatory & Permits · MI · 1,332 MW
- Watertown Solar — 172 MWdc utility-scale solar, Sanilac County, MichiganMar 24, 2026
Project Finance · MI · 172 MW
- LFP Prismatic Battery Cell Manufacturing — Lansing, Michigan (former Ultium C…Mar 17, 2026
Strategic & Growth Capital · MI · $4.3B
- Project Cannoli — 1,600 MW solar + 480 MW battery storage + demand flexibilit…Mar 16, 2026
Power Purchase & Offtake · MI · Undisclosed (20-year term; assets built at Google's cost) · 1,600 MW
- Tibbits BESS (Michigan) + Tidwell Prairie BESS (Texas) — 300 MW / 800 MWh tot…Mar 18, 2025
Project Finance · MI, TX · $286M · 300 MW
- Consumers Energy grid modernization — solar, wind, battery storage, and virtu…Nov 8, 2024
Project Finance · MI · $5.23B · 2,000 MW
- DTE Electric renewable generation and storage — solar, wind, battery installa…Nov 1, 2024
Project Finance · MI · $7.17B · 3,000 MW
- Palisades Nuclear Plant restart — 800 MW nuclear generating station, Covert T…Sep 30, 2024
Project Finance · MI · $1.52B · 800 MW
- 132 MW solar portfolio, MichiganApr 1, 2024
Power Purchase & Offtake · MI · 132 MW
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
Timothy Fitzpatrick promoted to Partner, Global Project, Energy and Infrastructure Finance at MilbankJan 1, 2026
Séverine Losembe promoted to Partner, Global Project, Energy and Infrastructure Finance at MilbankJan 1, 2026
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