mergers and acquisitions

Indian solar module manufacturer Waaree Energies has entered in a share purchase agreement with Italian renewables company Enel Green Power Development for the acquisition of its Indian subsidiary.

With the close of this deal, LS Power takes ownership of 44 solar PV and wind projects across North America.

TotalEnergies has sold a 50% stake in a 2GW US solar and energy storage portfolio and acquired German renewable energy developer VSB Group.

MA Solar Italy, a subsidiary of McLaren, acquired FIMER for an undisclosed fee amid challenges for the inverter market.

Masdar acquired 70% of Terna Energy’s outstanding shares at €20 per share, valuing the company at an enterprise value of €3.2 billion.

Leading a consortium of investors via a holding company, Elbe BidCo, KKR acquired 87.41% of outstanding shares in Encavis at €17.50 per share.

At the end of September, total global corporate funding for the sector stood at US$22.3 billion, down from US$28.9 billion at the same point in 2023.

EQT said the acquisition will help OX2 to grow its market position and strengthen its market presence in the long term.

The deal was first announced in March when Masdar said it would buy the 50% stake in Terra-Gen previously owned by Energy Capital Partners.

Aggreko Energy Transition Solutions, a division of power generation equipment supplier Aggreko, has acquired US-based commercial and industrial solar company Infiniti Energy from private equity firm Upper Bay Infrastructure Partners.