mergers and acquisitions

Sonnedix has acquired a controlling interest in Cox Energy Chile, a subsidiary of Spanish firm Cox Energy, and the two firms will partner on building and operating renewable energy projects in Chile.

Irish IPP Amarenco has acquired French renewable energy developer Groupe Carré, creating a new entity named Amarenco France.

Sembcorp Industries’ wholly-owned subsidiary Sembcorp Utilities has agreed to acquire IDFC Private Equity Fund III (IDFC)’s remaining stake in Sembcorp Green Infra (SGI), for INR14.1 billion (US$220 million).

The US$1.6 billion sale of major US utility-scale solar developer and operator FTP Power LLC (sPower) to AES Corporation and Canada-based investment manager Alberta Investment Management Corporation (AIMCo) has been completed.

The participation of venture capital (VC) investors seems to have cooled, while project funding has conversely seen a sharp rise, in the latest quarterly report into funding and mergers and acquisitions from Mercom Capital.

In this week's Movers & Shakers, PV Tech reports some recent industry mergers and acquisitions, dramatic UK solar job losses and an equally dramatic opportunity for job growth in the US with Tesla's new Gigafactory in Nevada.

Total corporate funding in Q2 2016 was at its lowest level in three years, as “the solar industry continues to experience weakness,” according to Mercom Capital Group’s latest report and Raj Prabhu, CEO and co-founder of the Austin Texas-based market intelligence group.

Tata Power agreed to buy Welspun Renewable Energy earlier this month for INR92.49 billion (US$1.42 billion). Against the backdrop of fiercely competitive bidding, Mercom Capital Group chief executive and co-founder Raj Prabhu, explains the scene of potential mergers and acquisitions in the Indian solar market.

The renewables subsidiary of India’s Tata Power will acquire Welspun Energy PTA Ltd, the clean energy arm of another major Indian company, Welspun Energy, valuing its target at 92.49 billion rupees (US$1.37 billion).