project acquisition

Eni Australia, a subsidiary of Italian oil and gas firm Eni, which has been active in Australia since 2000, has acquired a 33.7MW construction-ready solar-plus-storage project in the Northern Territory of Australia, from Katherine Solar, a joint venture between Australia’s Epuron and the UK-based Island Green Power.

Enel subsidiary Enel Green Power Brasil (EGP Brazil) has signed agreements to sell three fully operational renewable energy projects totalling 540MW in Brazil to Chinese company CGN Energy International Holdings (CGNEI) for approximately BRL2.9 billion (US$776 million).

Sweden’s first commercial wind power developer Eolus has entered the US solar-plus-storage market, announcing the acquisition of a mega-project currently in development.

Renewable energy developer Infinergy Pacific, a subsidiary of UK-based firm Infinergy, has sold the 120MW Metz Solar Farm in New South Wales to unnamed clean energy investors.

Thai energy and waste management firm Padaeng Industry (PDI) has acquired a portfolio of six operational solar PV farms in Thailand with a combined capacity of 30MW from Armstrong Asset Management and Dragon Capital for a total of THB1.3 billion (US$39 million).

North American renewables investor Sammons Renewable Energy (SRE) has purchased a 194MW portfolio of utility-scale solar projects in North Carolina from developer Heelstone Energy Holdings.

D. E. Shaw Renewable Investments (DESRI) has acquired a 40MW solar project which is still under construction in California from First Solar.

ContourGlobal has agreed to acquire around 20MW of operational solar PV plants in Italy from ErgyCapital for €68 million (US$80.7 million).

The Indian arm of US-based PV developer and thin-film specialist First Solar has agreed to sell 190MW(AC) out of 200MW(AC) of its operational PV plants in India to a private equity fund represented by Indian firm IDFC Alternatives, according to a First Solar spokesperson.

Muren Guler, managing director of consultancy Global Energy, discusses the benefits of co-development in emerging markets and alternatives to the strategy of acquiring ready-to-build projects.