Ardian Acquires Remaining Stake in Hill Top Energy Center

Ardian Acquires Peru-based Hydropower Company

December 18, 2023

Renewable Energy

Ardian, through its Ardian Clean Energy Evergreen Fund (ACEEF), has acquired 100% of a Peru-based hydropower company from funds managed by BTG Pactual, Patria Investments and GMR Holding B.V. The acquired portfolio comprises six run-of-river hydroelectric plants with total capacity of 73.4 MW and government-awarded, US dollar–denominated contracts; the deal adds technological diversification and strengthens ACEEF's renewable energy presence in Latin America.

Ardian Acquires Majority Stake in Tom Barrow Company

July 25, 2023

HVAC & Mechanical

Ardian's North America Fund acquired a majority stake in Tom Barrow Company, a leading provider of commercial HVAC solutions headquartered in Atlanta, Georgia. The founding family and management will retain a meaningful minority ownership; financial terms were not disclosed and financing for the transaction included an unsecured term loan arranged by Platinum Equity's credit team.

Masdar Acquires 50% Stake in Terra‑Gen from Energy Capital Partners

October 1, 2024

Energy

Abu Dhabi Future Energy Company PJSC (Masdar) has closed the acquisition of a 50% stake in Terra‑Gen Power Holdings II, LLC from Energy Capital Partners, with Igneo Infrastructure Partners retaining the remaining 50%. The deal strengthens Masdar’s U.S. platform—Terra‑Gen operates ~3.8 GW of wind, solar and battery storage (5.1 GWh) across ~30 sites and has a 12+ GW pipeline—supporting Masdar’s U.S. expansion and broader 100 GW global target by 2030.

Aramco (via Aramco Asia Singapore) Acquires 10% Stake in Horse Powertrain Limited

December 2, 2024

Automotive

Aramco, through its wholly owned subsidiary Aramco Asia Singapore Pte. Ltd., has completed the acquisition of a 10% equity stake in Horse Powertrain Limited based on an enterprise valuation of €7.4 billion. Renault Group and Geely (via Geely Holding and Geely Auto) each retain 45% stakes; the investment formalises a strategic partnership to advance powertrain technologies, synthetic fuels and lubricants and accelerate lower‑carbon mobility solutions.

EQT Active Core Infrastructure Acquires Majority Stake in Tion Renewables

March 24, 2023

Energy

EQT Active Core Infrastructure, through Boè TopCo GmbH & Co. KG and its Hopper BidCo GmbH vehicle, has agreed to acquire a majority stake (82.1% aggregate interest via agreements) in Germany-headquartered renewable energy producer Tion Renewables AG from Pelion Green Future Alpha GmbH. The transaction values Tion at a base equity value of €150 million and is intended to support the company’s growth into a leading platform for solar, wind and battery storage projects across Europe.

Energy Capital Partners Acquires Majority Interest in PROENERGY

September 5, 2024

Energy

Energy Capital Partners (ECP) has acquired a majority interest in PROENERGY Holdings, a vertically integrated aeroderivative gas turbine platform with a 2.4 GW fleet of contracted peakers and global turbine services. The transaction (terms not disclosed) transfers control from affiliates of Eos Partners and ACON Investments to ECP, which will support PROENERGY's platform expansion, growth initiatives, and continued operations under existing leadership.