acquisition

Renewables asset owner Brookfield Renewable is planning to take advantage of policy headwinds stemming from the US’s Inflation Reduction Act as it bolsters its presence in the commercial and community PV segment with the acquisition of Standard Solar.

Corporate funding in the global solar sector was dampened by inflation and high interest rates during the first nine months of the year, according to research from Mercom Capital Group.

Solar developer ReneSola Power has acquired UK-based utility-scale PV and battery storage developer Emeren as it expands its footprint in Italy and other European markets.

Portuguese utility EDP Renewables (EDPR) has completed the acquisition of a 70% stake in German solar developer Kronos Solar Projects.

Canadian energy company Suncor Energy has reached an agreement to sell its solar and wind assets to Canadian Utilities, an ATCO subsidiary, for C$730 million (US$535 million).

NovaSource Power Services has acquired First Solar’s Australian operations and maintenance (O&M) business, adding approximately 500MW of PV projects to its fleet in the process.

RWE has signed a purchase agreement with Con Edison to acquire all shares of its renewable energy subsidiaries, Con Edison Clean Energy Businesses.

US renewable energy major Brookfield Renewable has agreed to spend up to US$2 billion in order to acquire both Scout Clean Energy and Standard Solar.

Canadian natural gas pipeline giant Enbridge has bought US renewables developer Tri Global Energy (TGE) for US$270 million in cash and assumed debt.