NextEra Energy Transmission has entered definitive agreements with SteelRiver Infrastructure Fund North America and partners to acquire Trans Bay Cable (TBC) for approximately $1bn.
TBC is a 53-mile submarine cable system, which transports high-voltage direct current in the San Francisco Bay of California.
The acquisition is part of NextEra Energy’s strategy to add high-quality regulated assets to its portfolio and thereby become the leading competitive transmission company in America.
NextEra Energy Transmission has engaged Wells Fargo as its financial adviser, Pillsbury Winthrop Shaw Pittman as counsel, and Ellison Schneider Harris & Donlan as the regulatory counsel.
SteelRiver Infrastructure Fund North America has engaged RBC Capital Markets as its financial adviser, and Winston & Strawn as the legal adviser for the transaction.
Based in North America, NextEra Energy Transmission is engaged in energy transmission, while SteelRiver Infrastructure Fund North America is an independent investment firm.
Equinor has acquired a 9.7% stake in Scatec Solar for approximately Nkr700m ($82.4m).
Scatec Solar and Equinor are currently developing the Apodi asset in Brazil and Guanizul 2A solar project in Argentina under a partnership.
Equinor (formerly Statoil) is engaged in energy generation, while Scatec Solar is an independent producer of energy. Both companies involved in the transaction are based in Norway.
Korver Corp has signed a definitive agreement to acquire the entire issued and outstanding shares of Voltronix USA.
Korver has also agreed to pay the consideration in cash and issue restricted shares of the common stock.
Based in the US, Korver is engaged in solar cells developer, while Voltronix USA manufactures high-end lithium-ion battery management systems (BMS) and batteries solutions.
Efore Plc has signed an agreement to acquire the entire share capital of Powernet International Oy.
Efore expects the acquisition to increase its customer base and strengthen its technical capacity.
Based in Finland, Efore is engaged in developing and producing power products, while Singapore-based PowerNet International Oy is engaged in developing and manufacturing power systems.
Advanced Emissions Solutions has signed a definitive purchase agreement to acquire ADA Carbon Solutions for $75m.
ADES has engaged Moelis & Company as financial adviser and Stinson Leonard Street as primary legal adviser for the transaction. Houlihan Lokey Capital acted as the financial adviser to Carbon Solutions, while Latham & Watkins acted as legal counsel.
Based in the US, ADES is engaged in clean energy generation, while ADA Carbon Solutions manufactures powdered activated carbon products.