M&As this week: Tennenbaum Capital Partners, ShaMrocK Wind, Aida Minerals
Tennenbaum Capital Partners and Goldman Sachs have completed an acquisition of the Singapore-based renewable energy company Conergy Asia & ME and its subsidiaries from Kawa Solar Holdings.
Tennenbaum Capital is engaged in alternative investment management, while Goldman Sachs is a financing business.
ShaMrocK Wind has reached an agreement to acquire a 60% stake in windpower generating company Evalair.
ShaMrocK Wind is a joint venture company formed by the subsidiaries of Sojitz Corporation, Mitsubishi UFJ Lease & Finance, and Kansai Electric Power.
Sojitz, Mitsubishi UFJ, and Kansai Electric Power will own 29.3%, 6.7%, and 24% stake respectively in Evalair following the transaction.
Evalair is currently supplying electricity generated from renewable sources to the Irish power market from its five windpower plants, which have a combined generating capacity of 223MW.
Aida Minerals intends to acquire up to a 25% stake in Canadian renewable energy company Carbon Neutral Power Partners (CNPP) for approximately £60m ($78.66m).
Aida Minerals proposes to use a combination of preferred shares and debt for the acquisition.
CNPP is currently working on the Corby UK waste-to-energy facility, which will generate exportable power from the processing of fuel derived from refuse.