EQT Infrastructure Acquires Cypress Creek Renewables

Cypress Creek Renewables Acquires 100MW Solar Project from Carson Power

August 1, 2022

Energy

Cypress Creek Renewables has acquired a 100MW transmission/solar project near Rochester, New York from Carson Power and will lead principal development, offtake, procurement, and financing. Carson Power will remain a co-developer supporting entitlement and community engagement; the project is in early development with commercial operation expected in 2026.

XL Fleet Acquires Spruce Power from HPS Funds

September 12, 2022

Renewable Energy

XL Fleet Corp. completed the acquisition of Spruce Power from funds managed by HPS Investment Partners for approximately $58 million in cash and the assumption of roughly $542 million of debt. Spruce Power, headquartered in Houston, Texas, is a leading owner-operator of residential rooftop solar systems with more than 52,000 subscribers and ~110 employees; the deal is central to XL Fleet's strategy to become a provider of subscription-based rooftop solar, battery storage and EV charging 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.

CleanCapital Acquires BQ Energy

June 29, 2022

Energy

CleanCapital has acquired 100% of BQ Energy (BQE), a U.S. developer specializing in landfill and brownfield solar development. The acquisition brings BQE’s pipeline—more than 300 MW of late-stage and 700+ MW of mid-stage solar projects—into CleanCapital to expand its development and construction capabilities in brownfield renewable energy.

EQT Infrastructure Acquires Madison Energy Investments

December 20, 2022

Energy

EQT Infrastructure VI has agreed to acquire Madison Energy Investments (MEI) from affiliates of Stonepeak Partners. EQT will provide growth capital and digital/operational support to expand MEI's deployment of distributed solar and energy storage projects across the United States.

Birch Creek Energy Acquires Foundation Solar Partners from Hull Street Energy

March 28, 2023

Energy

Birch Creek Energy, a St. Louis-based utility-scale solar development platform, has acquired Foundation Solar Partners, LLC from private equity owner Hull Street Energy. Foundation Solar, founded in 2019 and focused on utility-scale solar development across the United States, will be integrated into Birch Creek to expand its development pipeline and capabilities in solar and storage projects.