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December 21, 2018

Deals and M&As this week: Sempra Energy, Clearway Energy, Recurrent

Consolidated Edison has purchased certain renewable assets from Sempra Energy in an all-cash transaction worth $1.54bn, under an agreement that was originally signed in September 2018.

Consolidated Edison has purchased certain renewable assets from Sempra Energy in an all-cash transaction worth $1.54bn, under an agreement that was originally signed in September.

The assets include operating solar assets and battery storage development projects, as well as a stake in a wind farm.

The divestment is part of Sempra Energy’s portfolio optimisation initiative announced in June.

Clearway Energy Group has signed an agreement with Ecolab, as part of which Ecolab will provide support for Clearway Energy’s renewable power projects.

Ecolab will provide support for the additional 100MW renewable power production capacity within the Mesquite Star wind farm.

Mesquite is one of more than 60 wind and solar power projects being developed by Clearway in the US.

Based in the US, Ecolab is a water, hygiene and energy technologies and services provider.

“Mesquite is one of more than 60 wind and solar power projects being developed by Clearway in the US.”

Canadian Solar’s subsidiary Recurrent Energy has sold its Mustang Two solar power project, which is under construction in California, US, to Showa Shell Sekiyu KK’s subsidiary Solar Frontier Americas (SFA).

Scheduled for commissioning in 2020, the project will be operated by SFA’s independent power producer (IPP) business.

Showa Shell Sekiyu KK is a global energy solutions provider.

Siemens has reached an agreement to purchase a 25% non-controlling stake in Coelme Group for an undisclosed sum.

Based in Italy, the Coelme Group is a disconnect switches producer and a subsidiary of Southern States.

The acquisition is expected to be completed in the first half of 2019, subject to customary closing conditions.

ABB is set to divest its power grids business to Hitachi under an agreement signed between the two companies.

Hitachi will initially purchase an 80.1% stake in the business in the first half of 2020.

ABB’s power grid business includes four segments; grid automation, grid integration, high-voltage products, and transformers.

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