Tracked deals
1181
1181 tracked deals across 2009-2026.
Top Energy Acquirers (2009-2026)
Buyer mix
Mixed buyer set
953 strategic · 531 pe
Top trend
Volume peaked in 2025
210 tracked deals announced in 2025.
Primary Insight
What Stands Out
- Infrastructure and midstream platforms appear frequently, including Global Infrastructure Partners (GIP) and I Squared Capital.
- Distributed generation and electrification are a recurring theme, with deals involving distributed solar/storage and behind-the-meter power projects.
- Energy storage remains prominent, including the planned acquisition of C&D Technologies and Trojan Battery Company (C&D Trojan) by Stryten Energy.
- Natural gas footprints continue to be built through acquisitions and stake purchases, including moves in the Barnett Shale and a joint venture interest in Cigar Lake.
- Geographic reach spans Western Australia, Oklahoma and Virginia in the U.S., Alberta in Canada, and Ethiopia for downstream fuel retail.
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Ara Partners | 8 | Private equity firm specializing in industrial decarboniz... | PE |
| BP Energy Partners, LLC | 7 | Dallas-based growth-oriented private equity firm focused ... | PE |
| Qualus Corporation | 7 | Pure-play power services firm offering advisory, planning... | Strategic (PE-backed) |
| RESA Power, LLC | 7 | Market leader in power systems electrical testing, transf... | Strategic (PE-backed) |
| 424 Capital | 6 | Private equity firm making control equity investments in ... | PE |
| Bernhard Capital Partners | 6 | Infrastructure- and services-focused private equity firm ... | PE |
| KKR | 6 | Global investment firm making private equity and other al... | PE |
| Superior Plus Corp. | 6 | Leading North American distributor and marketer of propan... | Strategic |
| TotalEnergies | 6 | Global integrated energy company producing and marketing ... | Strategic |
| Albireo Energy | 5 | Independent building controls and energy services provide... | Strategic (PE-backed) |
Acquisition Volume in Energy by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
July 31, 2026
- Buyer
- Zijin Gold International
- Target
- Allied Gold Corporation
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
Allied Gold and Zijin Gold International terminated their previously announced acquisition agreement after concluding that closing conditions were unlikely to be satisfied by the July 29, 2026 deadline. Instead, Zijin will invest approximately $295 million in Allied Gold via a non-brokered private placement, acquiring about 12.8 million shares and taking an approximately 9.2% ownership stake.
-
- Buyer
- OPTERRA Energy Services
- Target
- NORESCO
- Seller
- Carrier Global
- Industry
- Energy
- Location
- United States
- Type
- Divestiture
Carrier Global has signed a definitive agreement to sell its NORESCO business to OPTERRA Energy Services, a subsidiary of LS Power. The transaction is expected to close shortly, and financial terms were not disclosed.
-
- Buyer
- Morgan Stanley Infrastructure Partners
- Target
- Epic Energy
- Industry
- Energy
- Location
- South Australia, Australia
- Type
- Buyout
Investment funds managed by Morgan Stanley Infrastructure Partners have agreed to acquire Epic Energy, an Australian gas pipeline operator. The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
-
- Buyer
- MN8 Energy Holdings LLC
- Target
- Greenbacker Renewable Energy Company LLC
- Industry
- Energy
- Location
- New York, United States
- Type
- Buyout
MN8 Energy Holdings announced a definitive agreement to acquire Greenbacker Renewable Energy Company LLC in a cash-and-equity deal valued at up to approximately $375 million. The transaction adds wind generation and expands MN8’s renewable platform across the Midwest and Northeast, with the combined company expected to have more than 6 gigawatts of operating and under-construction capacity across 33 states.
-
July 24, 2026
- Buyer
- Volenergy AG
- Target
- BP’s Austrian mobility, convenience, and electric vehicle charging businesses
- Seller
- BP
- Industry
- Energy
- Location
- Austria
- Type
- Divestiture
BP has agreed to sell its mobility, convenience, and electric vehicle charging businesses in Austria to Volenergy AG. The deal includes 250 BP-branded retail locations (about 115 company-owned and the rest operated by franchisees), as well as BP’s Austrian EV charging infrastructure and associated fleet business, with closing expected by the end of 2026 subject to approvals.
-
July 24, 2026
- Buyer
- NOVAGOLD Resources, NovaGold Corporation
- Target
- Donlin Gold
- Seller
- Paulson
- Industry
- Energy
- Location
- Alaska, United States
- Type
- Buyout
NOVAGOLD Resources entered into definitive agreements to acquire Paulson’s 40% ownership interest in the Donlin Gold project, increasing its stake from 60% to 100%. The all-share transaction is structured to create a new U.S.-domiciled parent company (NovaGold Corporation) expected to list on the New York Stock Exchange, with the parties expecting completion in the fourth quarter of 2026 subject to customary approvals.
-
July 23, 2026
- Buyer
- Brookfield, Brookfield Renewable Partners
- Target
- Aypa Power
- Seller
- Funds managed by Blackstone Energy Transition Partners
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Brookfield has agreed to acquire Aypa Power from funds managed by Blackstone Energy Transition Partners in a deal valued at about $7 billion (enterprise value). The transaction includes Aypa’s operating, under-construction and contracted battery energy storage projects, as well as its development platform, with an approximately 200-employee workforce.
-
July 22, 2026
- Buyer
- Kensington Capital Acquisition Corp. VI
- Target
- Nth Cycle Inc.
- Industry
- Energy
- Location
- United States
- Type
- Growth capital
Nth Cycle Inc., a critical minerals refiner, announced a definitive business combination with SPAC Kensington Capital Acquisition Corp. VI to list on the NYSE under the ticker symbol “NTH.” The proposed transaction values Nth Cycle at an implied enterprise value of approximately $585 million and is expected to close in the fourth quarter of 2026, subject to regulatory and stockholder approvals.
-
July 17, 2026
- Buyer
- Elon Musk, CF APR Super Holdings, New APR Energy
- Target
- APR Energy, CF APR Super Holdings, New APR Energy
- Seller
- Duos Technologies
- Industry
- Energy
- Location
- Florida, United States
- Type
- Buyout
Elon Musk has acquired APR Energy, a provider of rapidly deployable gas- and diesel-powered generation systems, in a transaction estimated at more than $1 billion. The acquisition was disclosed via an FTC early termination notice, identifying Musk as the acquirer and CF APR Super Holdings / New APR Energy as the acquired entities.
-
Genesis Minerals And Vault Minerals Agree to Merge, Creating New $12.6 Billion Australian Gold MajorJuly 17, 2026
- Buyer
- Genesis Minerals Limited
- Target
- Vault Minerals
- Seller
- Vault shareholders (receiving consideration), Regis Resources (withdrawn competing bid; break fee mentioned)
- Industry
- Energy
- Location
- Western Australia, Australia
- Type
- Buyout
Genesis Minerals and Vault Minerals have agreed to merge via a scheme of arrangement, with Genesis acquiring all of Vault’s shares in a transaction valuing Vault at approximately A$5.6 billion (a 15.7% premium). The combined group is expected to create a top-three Australian gold producer, with an announced goal of unlocking around $2.0 billion in post-tax cost synergies and capital savings over 10 years.
-
- Buyer
- Ecopetrol Investimentos do Brasil
- Target
- ISA (shares via public tender offer OPAV)
- Industry
- Energy
- Location
- Brazil
- Type
- Buyout
Ecopetrol Investimentos do Brasil (a controlled company of Ecopetrol S.A.) received a Brazilian Securities and Exchange Commission (CVM) letter lifting the suspension previously imposed on the public tender offer for the acquisition of shares (OPAV). The CVM ruling requires Ecopetrol Investimentos to amend and re-publish the OPAV offer document, including updating the auction date.
-
July 16, 2026
- Buyer
- Blackstone Credit & Insurance, Apollo, KKR
- Target
- Five behind-the-meter Power Innovation projects (Socrates, Apollo, Aquila, Socrates the Younger and Neo) within Williams' Power Innovation platform
- Industry
- Energy
- Location
- Oklahoma, United States
- Type
- Growth capital
Williams signed an agreement with funds managed by Blackstone Credit & Insurance in partnership with Apollo and KKR to provide $5.34 billion in committed capital for five behind-the-meter Power Innovation projects serving AI and data center power demand. Blackstone and its partners will hold a 49% noncontrolling equity interest while Williams retains 51% ownership and full commercial and operational control, including a buyout right exercisable between years seven and fourteen.
-
July 14, 2026
- Buyer
- Woodbridge Ventures II Inc.
- Target
- Greenflame Resources Inc.
- Industry
- Energy
- Location
- Canada
- Type
- Buyout
Woodbridge Ventures II Inc. has entered into an amending agreement to modify its previously announced business combination agreement with 2771367 Alberta Ltd. (Subco) and Greenflame Resources Inc. The amendment extends the outside date for completion to December 31, 2026 and updates the contemplated private placement of Greenflame shares and the definition of “Greenflame Options.”
-
- Buyer
- Global Infrastructure Partners (GIP)
- Target
- Summit Ridge Energy
- Industry
- Energy
- Location
- Virginia, United States
- Type
- Buyout
Global Infrastructure Partners (GIP), a part of BlackRock, announced it has agreed to acquire a majority and controlling interest in Summit Ridge Energy. Summit Ridge develops, owns, and operates distributed solar and energy storage systems for commercial and residential customers across the United States.
-
- Buyer
- Stryten Energy LLC
- Target
- C&D Trojan (C&D Technologies and Trojan Battery Company)
- Seller
- KPS Capital Partners, LP (portfolio company owner mentioned)
- Industry
- Energy
- Location
- Pennsylvania, United States
- Type
- Buyout
Stryten Energy signed a definitive agreement to acquire C&D Trojan, comprised of C&D Technologies and Trojan Battery Company. The deal is expected to create a scaled energy storage and battery manufacturing platform serving transportation, essential power, industrial, and military/government markets, with closing anticipated in Q3 2026 subject to approvals.
-
July 7, 2026
- Buyer
- Marubeni Corporation
- Target
- EagleRidge Energy
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Marubeni Corporation has completed its acquisition of EagleRidge Energy, a Dallas-based natural gas operator focused on the Barnett Shale in North Texas. The deal expands Marubeni’s North American natural gas footprint and leverages EagleRidge’s operating expertise, with EagleRidge leadership and its operating team remaining in place.
-
- Buyer
- OLA Energy Group
- Target
- TotalEnergies Marketing Ethiopia
- Seller
- TotalEnergies
- Industry
- Energy
- Location
- Ethiopia
- Type
- Buyout
OLA Energy Group has signed a Share Purchase Agreement (SPA) with TotalEnergies to acquire TotalEnergies’ downstream (fuel retail and related) operations in Ethiopia. The deal is subject to customary conditions precedent, including regulatory and administrative approvals in Ethiopia, and would add more than 120 service stations across key cities.
-
- Buyer
- Morgan Stanley Infrastructure Partners (MSIP), Pembina Pipeline Corporation, Kineticor Asset Management
- Target
- Greenlight Electricity Centre
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Funds managed by Morgan Stanley Infrastructure Partners (MSIP) invested in the Greenlight Electricity Centre, a 932-megawatt gas-fired combined cycle power generation project in Sturgeon County, Alberta. MSIP is investing alongside Pembina Pipeline Corporation and Kineticor Asset Management, with Pembina and MSIP each taking a 47.5% ownership stake and Kineticor taking the remaining 5%.
-
- Buyer
- Genel Energy No.9 Limited, Bidco (as described in the article)
- Target
- Capricorn Energy
- Industry
- Energy
- Location
- Scotland, United Kingdom
- Type
- Buyout
Genel Energy’s indirect subsidiary, Genel Energy No.9 Limited, has agreed to acquire Capricorn Energy via a recommended cash acquisition implemented through a Scottish scheme of arrangement. Capricorn shareholders will receive $4.74 per share (including a $0.99 special dividend), valuing Capricorn at about $360 million on a fully diluted basis.
-
July 2, 2026
- Buyer
- Cameco Corporation, Orano Canada Inc.
- Target
- TEPCO Resources Inc.
- Seller
- TEPCO Resources Inc.
- Industry
- Energy
- Location
- Saskatchewan, Canada
- Type
- Addon
Cameco and Orano Canada agreed to acquire TEPCO Resources’ 5% participating interest in the Cigar Lake Joint Venture, lifting Cameco’s stake to 57.418% and Orano’s to 42.582% after closing. The transaction was valued at about C$115.75 million and was completed in July 2026.
-
- Buyer
- Otovo ASA
- Target
- SunSystem Technology, LLC (SST)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Otovo ASA completed its acquisition of SunSystem Technology, LLC (SST), a U.S. provider of operations and maintenance (O&M) services for distributed generation assets. The deal includes a $200,000 cash payment at closing and an earn-out of up to $1.3 million tied to net income from U.S. operations through 2028.
-
July 2, 2026
- Buyer
- Yara International ASA, Yara North America, Inc.
- Target
- Gulf Coast Ammonia (GCA) ammonia production facility, GCA Holdings LLC
- Seller
- GCA Holdings LLC, Lotus Infrastructure Partners, MB Energy
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Yara International ASA, through its U.S. subsidiary Yara North America, has agreed to acquire Gulf Coast Ammonia’s (GCA) ammonia production facility in Texas City, Texas for USD 1.3 billion. The plant, expected to reach 1.3 mtpa nameplate capacity, is currently in commissioning and is expected to ramp toward stable production by end of 2026. The acquisition supports Yara’s strategy to diversify its energy exposure and strengthen competitiveness of its global ammonia footprint, with Air Products supplying industrial gases under a long-term supply agreement.
-
- Buyer
- I Squared Capital, Bear River Midstream LLC
- Target
- Spire Storage (natural gas storage businesses in Wyoming and Oklahoma)
- Seller
- Spire Inc.
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Spire Inc. has completed the sale of its natural gas storage businesses in Wyoming and Oklahoma (“Spire Storage”) to I Squared Capital for $650 million. The sold assets will be rolled into I Squared’s portfolio company, Bear River Midstream LLC, with proceeds used to support Spire’s ongoing strategic focus and funding of its previously acquired Piedmont Natural Gas Tennessee business.
-
June 26, 2026
- Buyer
- KKR, HMC Capital
- Target
- HMC Energy Platform (to be rebranded as Illuma Energy), Illuma Energy (HMC Capital's energy platform)
- Industry
- Energy
- Location
- Australia
- Type
- Growth capital
HMC Capital announced it has received ACCC clearance and FIRB approval for its strategic partnership with KKR in the HMC Energy Platform. Financial close is expected on or around 30 June 2026, with KKR to invest up to $603 million and HMC’s invested capital reduced to approximately $190 million; the platform will be rebranded as Illuma Energy after integration of existing assets is complete.
-
- Buyer
- KKR
- Target
- EDF power solutions Inc., EDF power solutions Canada Inc.
- Seller
- EDF Group (EDF)
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
EDF has signed an agreement to sell the operations and assets of EDF power solutions in the United States and Canada to KKR. The transaction is valued at about $4.2 billion, with potential additional payments, and is expected to close in the second half of 2026 subject to regulatory approvals and employee consultation processes.
-
June 25, 2026
- Buyer
- IsoEnergy Ltd, Iso Australia Operations Pty Ltd
- Target
- Toro Energy Limited
- Seller
- Mega Uranium Ltd
- Industry
- Energy
- Location
- Western Australia, Australia
- Type
- Buyout
IsoEnergy completed its previously announced acquisition of Toro Energy Ltd via a scheme of arrangement under Australia’s Corporations Act. The scheme became effective on June 16, 2026, with Toro shareholders receiving 0.036 IsoEnergy shares for each Toro share held.
-
- Buyer
- ARC Financial Corp.
- Target
- TERIC Power Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
ARC Financial Corp. has completed a strategic investment in TERIC Power Ltd. to support the company’s next phase of growth and expansion. The capital will be used to accelerate development, construction, and ownership of utility-scale battery energy storage projects across Canada.
-
June 25, 2026
- Buyer
- Ballard Power Systems Inc.
- Target
- GeoPura Limited
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
Ballard Power Systems (NASDAQ: BLDP) agreed to acquire GeoPura Limited, a UK-based provider of hydrogen-based stationary power solutions. The transaction has a £275.0 million upfront purchase price (funded by £82.5 million cash and issuance of ~50.8 million Ballard shares) plus contingent consideration of up to £27.5 million, with an enterprise value of £301.1 million (about US$400 million), including net debt.
-
June 25, 2026
- Buyer
- ASP Isotopes Inc. (NASDAQ: ASPI)
- Target
- ENDRA Life Sciences Inc. (NASDAQ: NDRA), Noble Africa LLC, Renergen Limited (via Noble Africa LLC)
- Industry
- Energy
- Location
- Free State, South Africa
- Type
- Buyout
ASP Isotopes announced a proposed merger in which Noble Africa LLC (an intermediate holding company for Renergen) will merge with a subsidiary of ENDRA Life Sciences, with Noble Africa as the surviving entity. The combined company plans to operate as Noble Africa Inc. and apply to list on Nasdaq under the ticker NOBA, supported by a concurrent private placement expected to raise about $50 million.
-
- Buyer
- Nextpower (Nasdaq: NXT)
- Target
- Zimmermann PV-Steel Group
- Industry
- Energy
- Location
- Baden-Württemberg, Germany
- Type
- Buyout
Nextpower (Nasdaq: NXT) has entered into a definitive agreement to acquire Zimmermann PV-Steel Group, a Germany-based provider of solar mounting and structural solutions, for total consideration of cash and stock of up to €330 million (about $378 million). The deal is expected to close in the second half of Nextpower’s fiscal 2027 and is projected to contribute ~€300 million in annual run-rate revenue and ~€45 million in adjusted EBITDA after closing.
-
June 18, 2026
- Buyer
- NativState
- Target
- Neeley Forestry Service
- Seller
- Jim Neeley (founder)
- Industry
- Energy
- Location
- Arkansas, United States
- Type
- Buyout
NativState, a forest carbon developer, announced the acquisition of Neeley Forestry Service, a forestry and land management firm serving landowners across Arkansas, Louisiana, and Texas. The deal expands NativState’s landowner-first model by adding Neeley’s on-the-ground forestry expertise, land stewardship support, and related appraisal/real estate services.
-
- Buyer
- Sixth Street (certain funds managed by)
- Target
- Pinnacle Gas Services LLC
- Seller
- Comstock Resources, Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Comstock Resources sold a 27% non-controlling minority equity interest in its midstream subsidiary Pinnacle Gas Services LLC to certain funds managed by Sixth Street for $600 million. The investment values Pinnacle at a $2.2 billion enterprise value, while Comstock retained 73% controlling equity and continues to manage, operate, and control Pinnacle under a management services agreement.
-
- Buyer
- Natural Gas Services Group, Inc.
- Target
- Flatrock Compression Holdings
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Natural Gas Services Group (NGS) acquired Flatrock Compression Holdings for $120 million, consisting of $110 million in cash and $10 million in newly issued NGS common stock. The deal expands NGS’s natural gas and electric compression rental services, increasing operational density across the Permian Basin and Eagle Ford and strengthening its large-horsepower and electric motor-driven compression capabilities.
-
Innovex International, Inc. has agreed to acquire TCO Group AS for $95 million in a cash and stock transaction. The deal is expected to close in early Q3 2026, and will add TCO’s intervention-free laminated glass plug and other well-completion/tubing-conveyed perforating technologies to Innovex’s portfolio.
-
June 15, 2026
- Buyer
- Galantas Gold Corporation
- Target
- Sol de Oro Mining Ltd., Compañía Minera e Inmobiliaria Dragones SpA, Compañía Minera OXI SpA
- Seller
- Robert Sedgemore
- Industry
- Energy
- Location
- Coquimbo Region, Chile
- Type
- Buyout
Galantas Gold Corporation completed the acquisition of all issued and outstanding shares of Sol de Oro Mining Ltd., gaining 100% ownership of the Andacollo Gold Project in Chile. The transaction consideration totals US$32.5 million, including staged cash payments through 2029, assumed silver streaming obligations, and assumption of debt.
-
- Buyer
- Sembcorp Industries, Sembcorp Energy Australia Pty Ltd, Sembcorp Energy Australia Pte Ltd
- Target
- Alinta Energy, Pioneer Sail Holdings Pty Ltd, Latrobe Valley Power (Holdings) Pty Ltd
- Seller
- Chow Tai Fook Enterprises Limited
- Industry
- Energy
- Location
- Australia
- Type
- Buyout
Sembcorp Industries has completed its acquisition of Alinta Energy, adding a major Australian energy platform. The deal was completed via Sembcorp’s wholly owned subsidiaries, which acquired shares in Pioneer Sail Holdings Pty Ltd and Latrobe Valley Power (Holdings) Pty Ltd, with Alinta expected to continue operating under its existing brand and leadership team.
-
- Buyer
- LIXTE Biotechnology Holdings, Inc.
- Target
- NOMAD Transportable Power Systems, Inc.
- Industry
- Energy
- Location
- Vermont, United States
- Type
- Buyout
LIXTE Biotechnology Holdings, Inc. (NASDAQ: LIXT) has entered into a definitive agreement to acquire 100% of NOMAD Transportable Power Systems, Inc. (NOMAD). Upon closing (expected around July 1, 2026), LIXTE plans to be renamed NOMAD Power Solutions and reposition as a deployable, utility-grade battery energy storage company.
-
- Buyer
- Spark I Acquisition Corporation
- Target
- ZincFive, Inc.
- Industry
- Energy
- Location
- Oregon, United States
- Type
- Buyout
ZincFive, a nickel-zinc immediate power solutions provider for data centers and AI infrastructure, entered into a definitive business combination agreement with SPAC Spark I Acquisition Corporation. The deal values the combined company at approximately $752 million and is expected to close in the second half of 2026, with ZincFive becoming a Nasdaq-listed company under ticker symbol ZFIV.
-
- Buyer
- Stonepeak, Energy Equation Partners
- Target
- Anwim S.A.
- Industry
- Energy
- Location
- Poland
- Type
- Buyout
Stonepeak and Energy Equation Partners (EEP) have agreed to acquire Anwim S.A., Poland’s largest independent fuel marketer and owner of the MOYA station network. The deal is intended to extend the firms’ European fuel retail joint venture following their 2025 acquisition of a majority stake in JET Tankstellen Deutschland. Closing is expected in the second half of 2026, subject to customary regulatory approvals.
-
- Buyer
- SUNation Energy, Inc.
- Target
- Suniva
- Industry
- Energy
- Location
- Georgia, United States
- Type
- Buyout
SUNation Energy and Suniva have signed a definitive reverse merger agreement in which Suniva will merge with a wholly owned subsidiary of SUNation. The combined company is expected to operate under the Suniva name and continue SUNation’s Nasdaq listing, with Suniva stockholders expected to own a majority of the post-merger equity.
-
- Buyer
- Six One Commodities LLC, Pinnacle Asset Management, L.P. (backer of 61C)
- Target
- Great American Gas & Electric (GAGE)
- Seller
- Link Growth Advisers, LLC
- Industry
- Energy
- Location
- Connecticut, United States
- Type
- Buyout
Six One Commodities LLC (61C) has completed its acquisition of Great American Gas & Electric (GAGE) from Link Growth Advisers LLC. The deal expands 61C’s North American retail and integrated energy platform by bringing GAGE’s team, customer/broker relationships, systems, and infrastructure into 61C.
-
June 5, 2026
- Buyer
- T1 Energy
- Target
- KORE Power
- Seller
- KORE Power shareholders (including shareholders representing a majority of shares supporting the transaction)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
T1 Energy has entered into a definitive agreement to acquire KORE Power in an approximately $32 million enterprise value deal, expected to close in Q2 2026. The acquisition strengthens T1 Energy’s position in utility-scale battery energy storage systems (BESS) and provides its NRI division’s engineering, deployment, and U.S.-based software/controls capabilities.
-
- Buyer
- Eurizon Capital SGR S.p.A.
- Target
- Agnico Eagle Mines Limited
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
Eurizon Capital SGR S.p.A. acquired 13,721 shares of Agnico Eagle Mines Limited (Agnico Eagle) in the fourth quarter, adding a new position worth about $2.35 million. The filing-based report describes the transaction as part of an equity position build by the investor rather than a corporate acquisition of the company.
-
June 3, 2026
- Buyer
- TransAlta Corporation
- Target
- Mountain Peak Power LLC, Canyon Peak Power LLC
- Seller
- Blackstone, Inc.
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Buyout
TransAlta has entered into a purchase and sale agreement to acquire Mountain Peak Power LLC and Canyon Peak Power LLC, which own two new natural gas-fired peaking facilities totaling 318 MW near Denver, Colorado. The assets are fully contracted under long-term tolling agreements (100% contracted for 25+ years) and are expected to add approximately US$80 million of Adjusted EBITDA per year. TransAlta expects the transaction to close in early Q4 2026 and will fund the equity component through a concurrent US$350 million bought deal share offering.
-
- Buyer
- Nextpower
- Target
- Prevalon Energy
- Seller
- Mitsubishi Power Americas, EES
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Nextpower entered into a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered BESS system integrator, for total consideration of up to $365 million. The deal is intended to expand Nextpower’s platform into utility-scale battery energy storage and energy management software, including applications for AI and hyperscale data centers. Closing is expected in Nextpower’s fiscal Q2 2027 (Q2 FY27), subject to regulatory approvals and customary closing conditions.
-
- Buyer
- Rioja Acquisition S.à r.l.
- Target
- Naturgy Energy Group
- Seller
- Rioja Acquisition S.à r.l. (investment vehicle associated with CVC Capital Partners)
- Industry
- Energy
- Location
- Comunidad de Madrid, Spain
- Type
- Divestiture
CVC Capital Partners, through its investment vehicle Rioja Acquisition S.à r.l., is exiting its Naturgy Energy Group position via an accelerated bookbuilt offering of Naturgy shares. Rioja will sell 107.47 million shares (about 11.08%) through a placement to institutional investors and dispose of an additional 26.38 million shares (about 2.72%) following settlements of pre-existing derivatives, taking its total sale to 133.85 million shares (ending its ~13.8% stake).
-
May 30, 2026
- Buyer
- Translational Development Acquisition Corp. (TDAC)
- Target
- ProLogium
- Industry
- Energy
- Location
- Taoyuan City, Taiwan
- Type
- Buyout
ProLogium, a next-generation solid-state battery developer, entered into a definitive business combination agreement with SPAC Translational Development Acquisition Corp. (TDAC) to take the company public on Nasdaq. The transaction values ProLogium at about $3.8 billion and is intended to fund expansion of 4th-generation battery production and construction of its gigafactory in Dunkirk, France (with a French government subsidy package).
-
May 30, 2026
- Buyer
- Standard Solar
- Target
- Water Chestnut community solar project (3.9 MW), Hanoverian community solar project (4 MW)
- Seller
- EDF power solutions North America
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Addon
Standard Solar announced the acquisition of two New York community solar projects from EDF power solutions North America, totaling approximately 8 MW: Water Chestnut (3.9 MW) and Hanoverian (4 MW). The projects received NYSERDA awards and are expected to complete in early 2027, expanding Standard Solar’s distributed solar footprint in one of the country’s most active community solar markets.
-
- Buyer
- NewHold Investment Corp. III
- Target
- NewCleo Ltd
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
NewHold Investment Corp. III signed a business combination agreement with NewCleo Ltd, an advanced nuclear and nuclear fuel developer incorporated in England and Wales, to take the company public on Nasdaq. The transaction is reported to value NewCleo at a $2.4 billion pre-money valuation and include $172.5 million in SPAC trust plus a $220 million PIPE.
-
- Buyer
- Tamboran Resources Corporation
- Target
- Falcon Oil & Gas Ltd. (Falcon) subsidiaries
- Industry
- Energy
- Location
- Northern Territory, Australia
- Type
- Buyout
Tamboran Resources Corporation has completed the acquisition of subsidiaries of Falcon Oil & Gas Ltd following final court approval from the Supreme Court of British Columbia. The deal expands Tamboran’s Beetaloo Basin position to approximately 2.8 million net prospective acres and consolidates acreage across most of the depocenter.
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Frequently Asked Questions
What types of energy assets are most common in these acquisitions?
The page highlights acquisitions spanning distributed solar and energy storage, natural gas operations and storage, and downstream fuel retail operations.
Which recurring buyer groups show up across recent energy deals?
Recurring buyers include infrastructure-focused investors and platforms such as Global Infrastructure Partners (GIP) and I Squared Capital, alongside operating energy companies like Marubeni Corporation, Genel Energy No.9 Limited, and OLA Energy Group.
Are distributed power and energy storage included in the energy M&A themes?
Yes. Recent examples include distributed solar and energy storage systems, behind-the-meter power innovation projects, and battery manufacturing and energy storage platforms.
Do these deals focus only on the United States?
No. Recent locations also include Australia (e.g., Western Australia), Canada (e.g., Alberta and Saskatchewan), the United Kingdom/Scotland, and Ethiopia.