M&As this week: Inter RAO UES, Drax Group, Vision Solar, Vattenfall, and Apple
Inter RAO UES' subsidiaries Inter RAO Capital and Inter RAO Invest have acquired LLC Power Retail Company of Bashkortostan from PJSC RusHydro.
The target company focuses on power and heat energy generation and transmission and distribution, as well as repair and maintenance of power equipment.
Drax Group's subsidiary Drax Developments has reached an agreement to acquire Opus Energy Group.
The acquisition will involve a cash payment of £340m ($431.87m) and will be completed through a locked box mechanism.
Drax Group plans to finance the acquisition by raising a debt of £375m ($476.32m).
Vision Solar has agreed to merge with Zing Solar to extend its residential solar energy services across the country.
The merger will result in a new entity named ION Solar.
Vattenfall has acquired Danish company Vindstod.dk to expand its wind energy business in Denmark.
The target company focuses on wind power distribution.
Apple has reached an agreement with Chinese renewable energy company Beijing Tianrun New Energy Investment Co to acquire a 30% stake each in Nanyang Runtang New Energy Co, Zibo Runchuan New Energy Co, Shuozhou Pinglu Sineng Wind Power Co, and Qiaojia Tianqiao Wind Power Co.
The target companies will become co-operative joint ventures upon completion of the acquisition.
Energies Libres has completed the acquisition of French power distribution company Enel France to expand its energy supply expertise and portfolio.
The acquisition was made from Italian power utility Enel.