Deals this week: Greencoat Renewables, Hitachi, Eneco

14 December 2018 (Last Updated December 14th, 2018 11:40)

Greencoat Renewables has reached an agreement with BlackRock Real Assets to acquire the Monaincha and Garranereagh wind farms in Ireland for €88m ($100.4m).

Greencoat Renewables has reached an agreement with BlackRock Real Assets to acquire the Monaincha and Garranereagh wind farms in Ireland for €88m ($100.4m).

Ireland-based Greencoat Renewables is an asset manager specialised in the renewable energy sector, while BlackRock Real Assets is engaged in capital investments and risk assessment in Switzerland.

Eneco has signed a power purchase agreement (PPA) to purchase all the power produced by the Seastar and Mermaid offshore wind farms (together referred to as SeaMade) in Belgium.

The wind farms are expected to generate 487MW of electricity upon completion in 2020.

The Otary consortium holds a 70% stake in the SeaMade project, while Engie Electrabel holds 17.5% and Eneco holds a 12.5% stake.

Based in the Netherlands, Eneco is engaged in developing renewable energy. Engie Electrabel is an energy corporation, while Otary is an offshore wind power company. Both companies are based in Belgium.

Hitachi has announced plans to acquire the power grid operations of ABB for ¥800bn ($7.05bn).

“Hitachi proposes to take over 50% of the power grid operations of ABB initially and the rest in the upcoming years.”

Hitachi proposes to take over 50% of the power grid operations of ABB initially and the rest in the upcoming years.

The acquisition is a part of Hitachi’s strategy to expand its footprint and will also make it the second biggest heavy electrical equipment company in the world.

Based in Japan, Hitachi is a multinational conglomerate, while ABB deals in electrical equipment, power and robotics in Switzerland.

CLP Holdings has entered a strategic partnership with AutoGrid for supporting its projects across APAC, which use artificial intelligence for achieving real-time optimisation of energy assets.

AutoGrid’s Flex™ flexibility management platform will be initially deployed at the Hong Kong Science and Technology Park to construct and optimise a microgrid and drive streamlined operations and energy use.

The management platform of AutoGrid is expected to deliver quantifiable operational efficiencies to CLP and help expand its product and service offerings.

Hong Kong-based CLP Holdings is engaged in providing electrical and energy solutions, while AutoGrid is engaged in developing software applications for the energy industry in the US.