TECHNOLOGY
Solar + Storage Deals
Hybrid solar-plus-storage projects — co-located generation and storage with shared interconnection. Includes both new builds and retrofit augmentations.
40
Tracked Deals
22.3 GW
Total Capacity
$18.66B
Disclosed Value
2023–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Aug 1, 2024 | Clenera solar and storage portfolio Clenera → Societe Generale | — | $2.29B |
| Mar 31, 2026 | Aypa Power $500M corporate credit facility upsizing — tot… Aypa Power (Blackstone portfolio company) → CIBC, Wells Fargo (lead structuring agents) | — | $1.55B total facility ($500M upsizing) |
| Feb 3, 2026 | Construction warehouse revolving credit facility for Aypa… Aypa Power (Blackstone portfolio company) → CIBC, Wells Fargo (lead structuring agents) | — | $1.5B (with $500M accordion) |
| Jun 1, 2024 | Green River Energy Center (400 MW solar + 400 MW / 1,600 … rPlus Energies → CACIB and others | 400 MW | $1.1B |
| Sep 28, 2023 | Residential solar + battery system portfolio — 57,731 roo… Sunrun → ABS investors (multi-tranche) | — | $968M ($715M senior + $253M subordinated) |
| Jun 25, 2024 | Sunrun residential solar + battery system leases/PPAs — r… Sunrun → ABS investors (multi-tranche) | — | $886.3M |
| Aug 27, 2025 | Desert Bloom 600 MWh BESS + Papago Solar 150 MWac — Pinal… Recurrent Energy (Canadian Solar) → NORD/LB, MUFG, CoBank, Siemens Financial Services (construction); Wells Fargo (tax equity) | 150 MW | $825M |
| Mar 10, 2026 | Gemini Solar + Storage — 690 MWac solar + 380 MW/1,400 MW… Primergy Solar (Quinbrook Infrastructure Partners) | 690 MW | $760M |
| Aug 30, 2023 | Origis Energy construction warehouse facility — funds ~2 … Origis Energy → Multi-bank syndicate | 2.0 GW | $750M |
| Apr 1, 2026 | CenterNode Group — new US solar and storage investment pl… CenterNode Group (Forest Road Company) → Liberty Mutual Investments (anchor institutional investor) | — | $750M (committed capital) |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | ABS investors (multi-tranche) | 3 | $2.10B |
| 2 | J.P. Morgan | 2 | $997M |
| 3 | CIBC, Wells Fargo (lead structuring agents) | 2 | $3.05B |
| 4 | Multiple (consortium) | 1 | $588M |
| 5 | Microsoft | 1 | $588M |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Origis Energy | 4 | $1.72B |
| 2 | Aypa Power (Blackstone portfolio company) | 3 | $3.58B |
| 3 | Ørsted | 2 | $1.25B |
| 4 | Sunrun | 2 | $1.85B |
| 5 | Quinbrook Infrastructure Partners | 1 | $588M |
Top Lenders
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | CIBC, Wells Fargo | 2 | $3.05B |
| 2 | MUFG | 1 | $190M |
| 3 | Fifth Third Bank | 1 | $190M |
Top Legal Counsel
| # | Firm | Deals |
|---|---|---|
| 1 | Latham & Watkins | 2 |
| 2 | Winston & Strawn | 1 |
| 3 | Akin Gump LLP; Quarles & Brady LLP | 1 |
| 4 | Vinson & Elkins | 1 |
Technology Mix
Deal Type Mix
- Project Finance15
- Corporate Debt & Capital Markets6
- Project & Portfolio M&A6
- Tax Equity & Tax Credits5
- Corporate M&A3
Activity by Year
Recent Deals
Latest 10- Arena Renewables — distributed-generation solar + BESS developer with ~1 GW U…Apr 23, 2026
Corporate M&A · Multi-state · 1,000 MW
- Blevins Solar & Storage Project — ~272 MW solar + battery storage, Falls Coun…Apr 21, 2026
Power Purchase & Offtake · TX · 270 MW
- BrightNight–Cordelio Power JV portfolio buyout — 6 GW of development-stage so…Apr 21, 2026
Project & Portfolio M&A · Multi-state · 6,000 MW
- Atlas North portfolio — four late-stage projects totaling ~1,000 MW solar + 4…Apr 21, 2026
Project & Portfolio M&A · CA · 1,450 MW
- Apr 14, 2026
- ACT Power Services — O&M platform acquired from Pine Gate Renewables bankrupt…Apr 14, 2026
Corporate M&A · Multi-state
- Chalan Solar + Storage — 65 MWac solar + 25 MW / 100 MWh BESS, Kern County, C…Apr 8, 2026
Tax Equity & Tax Credits · CA · $118M · 90 MW
- CenterNode Group — new US solar and storage investment platform, up to $750M …Apr 1, 2026
Strategic & Growth Capital · Multi-state · $750M (committed capital)
- Aypa Power $500M corporate credit facility upsizing — total commitments raise…Mar 31, 2026
Corporate Debt & Capital Markets · Multi-state · $1.55B total facility ($500M upsizing)
- Gemini Solar + Storage — 690 MWac solar + 380 MW/1,400 MWh BESS, Clark County…Mar 10, 2026
Project Finance · NV · $760M · 690 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
Melissa Raciti-Knapp joined as Partner, Finance at Vinson & ElkinsFeb 13, 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
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