Tracked deals
172
172 tracked deals across 2019-2026.
Tracked deals
172
172 tracked deals across 2019-2026.
Buyer mix
PE-led
188 pe · 56 strategic
Top trend
Volume peaked in 2023
38 tracked deals announced in 2023.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Antin Infrastructure Partners | 4 | Infrastructure-focused private equity firm investing acro... | PE |
| Ara Partners | 4 | Private equity and infrastructure firm focused on industr... | PE |
| Brookfield Asset Management | 4 | Global alternative asset manager with large investments i... | PE |
| Macquarie Asset Management | 4 | Global asset manager and investor with a specialist Green... | PE |
| KKR | 3 | Global alternative asset manager investing across private... | PE |
| NovaSource Power Services | 3 | Global solar operations & maintenance (O&M) services prov... | Strategic (PE-backed) |
| SCF Partners | 3 | Energy-focused private equity firm providing equity capit... | PE |
| Standard Solar | 3 | Commercial and community solar developer, funder and long... | Strategic (PE-backed) |
| 424 Capital | 2 | Lower middle market private equity firm focused on health... | PE |
| Ares Management (Infrastructure Opportunities fund) | 2 | Global alternative investment manager with infrastructure... | PE |
Last 8 years
Supporting Data
Generate Capital announced the sale of its Generate Upcycle platform in two separate transactions. Vanguard Renewables signed an agreement to acquire Upcycle’s five North American facilities in Ontario, Canada and upstate New York, expected to close October 1, 2026.
Qualitas Energy has signed a definitive agreement to acquire Cero Generation’s core European renewable energy platform from Macquarie Group. The deal adds a 5.8 GW portfolio of solar photovoltaic and battery energy storage projects across the United Kingdom, Italy, and Spain, including over 2 GW of operating/under-construction/ready-to-build assets.
FH Capital entered into a definitive agreement to acquire a 75.1% majority stake in Jinko Solar (U.S.) Industries Inc., JinkoSolar’s U.S. subsidiary, for a controlling ownership position. The deal covers JinkoSolar’s 2 GW solar module manufacturing facility and its growing battery energy storage systems (BESS) business; JinkoSolar will retain a 24.9% minority stake.
Blackstone Infrastructure has entered into a definitive agreement to invest up to €2 billion in Eurowind Energy, a pan-European renewables developer and independent power producer headquartered in Hobro, Denmark. The investment is expected to accelerate Eurowind’s development activities across onshore wind, solar, battery storage, and biogas, with an expected closing before the end of 2026, subject to customary conditions.
KKR will acquire an ownership stake in South Korea’s renewable energy firm SK Eternix in a climate/energy-focused investment. The deal is described as a purchase of a significant minority stake (reported as 43.5%) valued at KRW 348 billion (about $235 million).
Standard Solar acquired a six-project, 28.8 MW community solar portfolio in New Jersey and Illinois from AC Power. The projects are sited on closed landfills and brownfield parcels and are expected to transition previously disturbed sites into long-term community energy assets.
BCI, Norges Bank Investment Management, and Brookfield announced the launch of Northview Energy, a privately held renewable energy platform. Northview will initially acquire a seed portfolio of 22 contracted, operating utility-scale solar and onshore wind assets (about 2.3 GW) from Brookfield-managed renewable energy companies and has a framework to pursue additional renewable asset acquisitions in the U.S. and Canada.
EverWind announced a US$175 million strategic investment from Nuveen Energy Infrastructure Credit to advance construction of its 650+ MW onshore wind portfolio and support delivery of the Point Tupper Green Fuels Project in Nova Scotia. The funding marks a transition from development to construction for an integrated renewables-to-green-fuels platform connecting wind generation to long-term green hydrogen and ammonia demand.
Callaway Capital Management completed the initial closing of a $10 million advance (Tranche A) under a secured convertible credit agreement providing up to $40 million in financing to Revolve Renewable Power. The credit is structured in two tranches and includes lender-convertible terms into Revolve common shares, along with investor rights such as board nomination rights.
ERA Partners LLC announced a majority equity investment in GeoTility Systems Corp., a Kelowna, British Columbia–based geoexchange utility provider that offers heating-and-cooling-as-a-service (HCaaS) and full design-build geoexchange solutions. The investment is intended to accelerate GeoTility’s expansion across Canada and the United States, scaling its portfolio (more than 1,000 HCaaS systems) and expanding deployments to residential, multi-family, commercial, and industrial real estate.
Low Carbon, an independent power producer focused on renewable energy, has secured a landmark investment from CVC DIF. The deal (expected to close in Q4 2025) will provide committed capital to help Low Carbon expand its installed capacity across the UK and key European markets, including Germany and Poland, with CVC DIF taking a majority controlling stake.
Ares Management, via its Ares Alternative Credit funds and affiliated vehicles, acquired a 20% stake in Plenitude from Eni for €2 billion, valuing the renewable energy and energy solutions company at over €12 billion. The investment will strengthen Plenitude’s shareholder base and support the company’s growth in renewable generation, energy retailing and electrification services as it pursues a target of 10 GW of capacity by 2028.
Quinbrook Infrastructure Partners has acquired a strategic majority ownership stake in Elemental Clean Fuels (ECF), marking Quinbrook’s first investment in Canada and providing significant capital to advance ECF’s pipeline of renewable fuels projects across British Columbia and Alberta. The majority stake is being acquired from ECF’s founders and lead investor Piney Point Capital, both of which will remain as substantial minority shareholders and board members following the transaction.
La Caisse (formerly CDPQ) has entered into binding agreements to acquire Edify Energy, an Australian renewable energy and battery storage developer/operator. The investment is expected to total approximately CAD 1 billion, funding the acquisition and additional equity to support next-phase development of hybrid solar and battery energy storage projects totaling 900 MW / 3,600 MWh and a pipeline exceeding 11 GW.
Leeward Renewable Energy (LRE) acquired the Twelvemile Solar 1 & 2 portfolio (152 MW combined) from Red River Renewable Energy LLC — a joint venture between SunChase Power LLC and Eolian LP — and has begun construction in southern Oklahoma. The projects are part of LRE's broader Oklahoma solar portfolio, are expected to begin delivering power in early 2026, and will support construction jobs and significant local tax revenue over their operating life.
Barings and Queensland Investment Corporation (QIC) co-led an A$370 million equity raise for Pacific Energy Group (PEG), Australia's largest remote energy platform. The growth capital will fund PEG’s long-term investment plans, refinance the business, and support delivery of its renewable and hybrid energy project pipeline across Western Australia and the east coast. Campbell Lutyens acted as placement agent for the raising.
Soltech Energy Sweden AB (publ) has signed an agreement to acquire 100% of Sesol Group AB, a solar energy company. The purchase price will be paid with newly issued Soltech shares, making Nordic Capital the company’s largest shareholder with roughly 30% ownership post-transaction. The deal is subject to regulatory approvals and approval by an Extraordinary General Meeting.
HitecVision has completed its acquisition of a 91.4% stake in Vow Green Metals (via its vehicle Midas Industri AS), becoming the company's majority shareholder and initiating a delisting from Euronext Growth Oslo. The new ownership will support Vow Green Metals' plan to scale biocarbon production capacity across Norway and develop an integrated industrial platform to supply metallurgical and other heavy industries.
LS Power has completed its acquisition of ENGIE Services U.S., which will operate under its legacy name OPTERRA Energy Services. The acquisition adds OPTERRA's energy-efficiency, renewables, storage, microgrid and operations capabilities — and nearly 300 staff — to LS Power's portfolio to expand its low-carbon and customer-facing energy solutions.
Brookfield Asset Management, together with its institutional partners including Brookfield Renewable Partners, completed the acquisition of National Grid Renewables from National Grid plc and will operate the business under the Geronimo Power brand. The Minneapolis-headquartered company develops and operates utility-scale solar, wind and energy storage (about 2 GW operating, 1 GW under construction and ~20 GW in development) and will continue scaling Brookfield’s U.S. renewables platform.
The Carlyle Group's infrastructure arm has launched Revera Energy, a new independent energy infrastructure platform backed by Carlyle Global Infrastructure. Revera's initial portfolio comprises projects carved out and acquired from Amp Energy across Australia and the United Kingdom, focusing on battery storage, utility-scale solar and green hydrogen development.
HitecVision has agreed to buy a 50% stake in Polska Grupa Biogazowa (PGB) from TotalEnergies for an enterprise value of €190 million under a signed SPA. PGB is Poland’s leading biogas operator with 20 operating units and c.450 GWh of equivalent biomethane capacity (targeting 2 TWh by 2030); the partnership will support scaling via greenfield projects and M&A and remains subject to regulatory approvals.
RM Capital Partners, a Chicago-based private equity firm, has completed the acquisition of Integrated Solar Operations d/b/a ISO Solar, a turnkey solar energy provider serving residential, commercial, and government customers across Puerto Rico. RM Capital plans to support ISO Solar's growth through investments in people, products, services and infrastructure to capture rising demand for energy resiliency and lower-cost alternatives to the island's centralized grid.
Certek, a sector-focused investment vehicle led by David Harrison and supported by Macquarie Group, has acquired GEV Wind Power from Bridges Fund Management. GEV, headquartered in Hessle, East Riding of Yorkshire, is a global specialist in wind turbine rotor blade repair and O&M and will be supported by Certek and GEV management to expand capacity and pursue supply‑chain consolidation; terms were not disclosed.
Octopus Energy Generation, via the Octopus Energy Development Partnership (OEDP), has acquired Hamburg-based renewable developer MN Projekt GmbH, adding a c.2 GW pipeline of solar and battery storage projects in Germany. The deal expands Octopus's project pipeline and storage capabilities as it accelerates its investment plans in Germany and supports the country’s target of significantly higher renewable electricity by 2030.
CVC DIF (via the DIF Infrastructure VII fund) has agreed to acquire a 49% stake in BALANCE Erneuerbare Energien, the biogas subsidiary of Leipzig-based VNG AG, in a growth partnership to support the business’s expansion. BALANCE operates 42 biogas facilities in northern and eastern Germany (≈197 MW thermal) and supplies green energy to roughly 180,000 households; the transaction is subject to antitrust approval.
Sagepoint Energy launched as a newly combined waste-to-energy platform by bringing together Dynamic Renewables, BC Organics and National Organics. The Carmel, Indiana–headquartered company is majority owned by Ares Management Infrastructure Opportunities funds with a minority investment from an unregulated affiliate of NorthWestern Energy, and will develop, own and operate anaerobic digestion/RNG, biorefinery and organics-collection capabilities across the U.S.
KKR has signed an agreement to acquire an additional 5% stake in Enilive from Eni for €587.5 million, bringing KKR’s total ownership to 30%. The investment continues KKR’s infrastructure strategy involvement in Enilive, Eni’s mobility transformation company focused on biorefining, biomethane production, and smart mobility solutions.
Macquarie Asset Management will acquire the remaining controlling interests in Galehead Development from Galehead Founders via funds managed by MAM, and Galehead will become a wholly owned subsidiary of Treaty Oak Clean Energy. The integration pairs Galehead's LandCommand-enabled development pipeline (over 20 GWAC across more than 20 states) with Treaty Oak's IPP capabilities to expand geographic reach and accelerate commercialization of utility-scale solar, wind and storage projects; Galehead founders will form ETX Upstream to pursue upstream Energy Transition activities.
Standard Solar has acquired the 3.2 MW Churchill Street Solar Farm in Pittsfield, Massachusetts from developer Sunfarm Solar, expanding its operating solar portfolio in the state. The ground-mounted, five-array project will be added to Standard Solar's owned assets as the company continues to grow its presence in the Massachusetts renewable energy market.
Origis Energy has received a strategic investment from Brookfield Asset Management alongside additional commitments from existing sponsor Antin Infrastructure Partners that could total more than $1 billion. The capital will accelerate Origis Energy’s growth as an independent power producer, advancing its ~1 GW operating solar and storage portfolio, near-term projects and a multi-gigawatt development pipeline across the United States.
Macquarie Asset Management (MAM) completed a previously announced significant minority investment in DESRI through several MAM-managed funds. The deal involves up to approximately $1.725 billion and is intended to support DESRI’s growth and reinforce its position in utility-scale U.S. renewable energy.
Franklin Energy, a portfolio company of Abry Partners, acquired AESC (Alternative Energy Systems Consulting) and EVA Green Power to expand its clean energy engineering, consulting, and distributed energy capabilities. The add-on acquisitions broaden Franklin Energy’s capacity across energy efficiency, demand-side management, solar, storage, EV charging and EPC services, and bolster its integrated offerings for utilities, governments, and commercial & industrial clients.
LDC, the private equity arm of Lloyds Banking Group, has made a significant growth investment in Mansfield-based Power Saving Solutions to support product development, manufacturing expansion and diversification into new end markets. The investment will back the existing management team and fund R&D, manufacturing capacity increases and commercial growth across sectors such as construction, transport and utilities.
CleanCapital acquired a portfolio of 40 solar assets totaling 22.7 MW from Kendall Sustainable Infrastructure (KSI), expanding its operating distributed solar footprint across Vermont, New York and California. Manulife Investment Management and its institutional co-investors committed an additional $145 million of equity to CleanCapital to fund development, construction and future acquisitions; the sale closes out KSI’s first fund dedicated to community solar.
Aneo, a Norwegian renewable energy operator backed by TrønderEnergi and HitecVision, has acquired the 43.2 MW Kokkoneva wind farm in Finland from Greencoat Renewables PLC. The park (nine turbines) produces about 129 GWh annually; the deal represents Aneo's first owned generation asset in Finland and marks a strategic geographic expansion into the Finnish electricity market.
St. Louis-based private equity firm Compass Group Equity Partners has made a strategic investment in Baja Carports (Baja Construction Co., Inc.), a California-based national designer, fabricator, and installer of solar-ready carports and RV canopies. The partnership will support Baja's growth initiatives, including location expansion and enhanced sales and marketing to scale operations across the U.S. and Puerto Rico.
I Squared Capital’s renewables platform Cube Green Energy has signed an agreement to acquire control of SUNfarming, a German agri-PV (solar on agricultural land) developer and independent power producer. The deal is expected to close by Q1 2025, subject to regulatory clearances, and SUNfarming founders and key management will retain a significant minority stake.
Redeux Energy sold a utility-scale hybrid solar and battery storage development project (200 MWdc solar, 40 MW/160 MWh storage) located in Ohio County, Kentucky to Scout Clean Energy. Scout, a Boulder-based renewable developer and portfolio company managed by Brookfield Asset Management, will advance the project through later-stage development, financing and construction; Redeux was advised by Marathon Capital.
ContourGlobal (a KKR company) has acquired a 151 MWdc solar portfolio consisting of two late-stage projects in South Carolina from Sun Tribe Development. The assets, which have long-term PPAs and completed interconnection studies, mark ContourGlobal's entry into the U.S. renewables market with commercial operations planned in 2029.
Toronto-based private equity firm Lynx Equity Limited has acquired Esmay Electric, a Lake Havasu City, Arizona electrical contractor specializing in solar panel installations, design and permitting. The founder, Greg Esmay, sold the business as part of his retirement, and Lynx intends to maintain existing customer and employee relationships while supporting the company’s leadership and continued operations in the solar sector.
An affiliate of H.I.G. Capital (H.I.G. Infrastructure) has acquired a controlling interest in Greenflash Infrastructure, LP, a Houston-based developer and operator of grid-scale energy storage and power generation projects. The investment will provide capital and operational support to accelerate Greenflash's pipeline of brownfield and greenfield energy storage and controllable load projects serving utilities and municipal cooperatives.
Brookfield Asset Management, via the first vintage of its Brookfield Global Transition Fund (BGTF I), committed an initial $200+ million and up to $850 million in follow-on capital to Infinium to accelerate deployment of its ultra-low-carbon eFuels platform and Project Roadrunner in West Texas. The funding will include Brookfield leading Infinium's Series C preferred stock offering and supports scaling Infinium's eSAF, eDiesel and eNaphtha production to meet growing airline and industrial offtake demand.
Standard Solar acquired the 12.18 MW Wheeler Gulch Solar Project from Caerus Piceance, LLC. The ground-mounted, behind-the-meter solar array in Garfield County, Colorado will supply on-site power to Caerus Piceance's Middle Fork compressor station and expand Standard Solar's owned renewable generation portfolio.
Civic Renewables, backed by GEF Capital, has acquired Florida Power Management (FPM), a leading local solar installer serving the Orlando and Tampa markets. The deal brings FPM into Civic's growing national platform of local clean energy businesses to scale operations and accelerate solar adoption across the U.S.
Original Clean Energy, a subsidiary of Clean Royalties backed by Houston-based Siltstone Capital, acquired Williston, Vermont–based iSun and its subsidiaries SunCommon (Waterbury, VT) and Liberty Electric (Salem, NH) following iSun’s bankruptcy. The sale (reported purchase price $10 million) is part of a restructuring and regional growth plan to expand solar, storage and EV charging deployment across northern New England and New York.
HCT Renewable Energy closed $13 million in growth financing through an asset-based facility provided by Phoenix Merchant Partners and Caydan Capital Partners. The capital will be used to accelerate HCT’s expansion in the solar energy staffing market, supporting its work connecting utility-scale solar construction companies with skilled labor across the United States.
Budderfly has acquired the distributed energy resource management system (DERMS) platform from Sunverge Energy, enabling Budderfly to aggregate distributed energy resources and build virtual power plants (VPPs). The acquisition includes Sunverge personnel joining Budderfly and expands Budderfly's capabilities to offer end-to-end VPP services to commercial customers and utilities, supporting grid flexibility and new revenue streams.
Enstall, a PE-backed global rooftop solar mounting provider, agreed to acquire Schletter Group, a Germany-based manufacturer of solar mounting systems. The deal — an add-on to Enstall’s PE-backed platform (Blackstone and Rivean Capital) — expands Enstall’s footprint in Germany and Central Europe and adds ground-mounted and tracker capabilities to its product portfolio; Schletter’s current owners Avenue Capital Group and Robus Capital will become minority shareholders in Enstall.
ArcLight Capital Partners launched SkyVest Renewables, an operating-focused renewables platform, with an initial $500 million capital commitment and concurrently acquired a 160 MW operating wind farm in the Midland Basin, Texas (commercial operations 2020). SkyVest will operate and optimize utility-scale wind and solar assets across North America, leveraging ArcLight's operational resources to drive near-term cash flow and brownfield development.
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