ALLETE Acquires New Energy Equity Solar Developer

The AES Corporation Acquires Community Energy Solar, LLC

December 20, 2021

Renewable Energy

The AES Corporation announced the acquisition of US solar developer Community Energy Solar, LLC, adding the developer's ~10 GW project pipeline and experienced development team to AES's renewables platform. The deal expands AES's US renewables development capability and bolsters its pipeline and workforce as the company pursues further growth in utility-scale solar and storage.

CPP Investments and Global Infrastructure Partners Acquire ALLETE in $6.2 Billion Deal

December 15, 2025

Energy

CPP Investments and Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire ALLETE for $67 per share in cash, valuing the transaction at $6.2 billion including assumed debt. The deal is expected to close in mid-2025 (later described as closing around Dec. 15, pending remaining conditions) and will take ALLETE private while delivering approximately $200 million in benefits to Minnesota Power customers and communities.

Nuveen Private Equity Impact Acquires Majority Stake in Ally Energy Solutions

September 30, 2025

Energy

Nuveen’s Private Equity Impact team has acquired a majority interest in Ally Energy Solutions, a U.S.-based provider of turnkey energy solutions for commercial and industrial customers. The investment, the sixth for Nuveen Climate Inclusion Fund II, will support Ally’s national growth and deepen its capabilities in distributed clean energy, electrical infrastructure upgrades, and energy-efficiency projects.

Stem, Inc. Acquires AlsoEnergy

December 16, 2021

Renewable Energy

Stem, Inc. acquired AlsoEnergy (Also Energy Holdings, Inc.), a global leader in solar asset management software, in a cash-and-stock transaction announced in December 2021 and closed in early 2022. The ~$695 million deal (approximately 75% cash / 25% stock) expands Stem's software capabilities and assets under management, adding ~32–33 GW of solar AUM and broadening cross-sell opportunities across utility and commercial & industrial customers.

TotalEnergies Acquires Core Solar LLC

April 27, 2022

Renewable Energy

TotalEnergies has acquired Austin-based Core Solar, LLC, adding more than 4 GW of utility-scale solar and energy storage projects across multiple U.S. states to its U.S. renewables portfolio. Core Solar’s CEO Greg Nelson and his employees will join TotalEnergies as the acquisition strengthens TotalEnergies’ U.S. pipeline and advances its renewable capacity goals.

Madison Energy Infrastructure Acquires NextEra Energy Resources' Distributed Generation Platform

October 2, 2025

Energy

Madison Energy Infrastructure completed the acquisition of NextEra Energy Resources' distributed generation development platform, including operating solar and energy storage assets, a development pipeline and customers across 25 states. The deal brings Madison's ecosystem to nearly 1 GW of operating clean energy infrastructure and expands its commercial and community customer footprint while leveraging recent financing and support from EQT and other capital partners.