M&As this week: Enel Green Power North America, Areva, and Jilin Electric Power Co
Enel Green Power North America has acquired Demand Energy Networks, a company based in the US.
Demand Energy Networks is a software solutions provider, which also develops projects and operates in the battery storage optimisation segment.
Enel expects the acquisition to strengthen its position in the battery storage market, enhancing digitisation and helping to create new product offerings for its customers.
Areva has agreed to divest its remaining shares in the company to the French government.
The interest will be acquired from The Kuwait Investment Authority, Electricite de France, and Total.
An agreement for the acquisition has been reached between the parties. The consideration is fixed at €4.5 ($4.78) a share.
Jilin Electric Power Co has reached an agreement to acquire a 95% stake in Guangzhou Branch Co.
Guangzhou Branch Co is a solarpower plants developer based in China.