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October 26, 2018

Deals this week: Tag Pacific, Skyline Renewables, Jacobs Engineering

Tag Pacific has entered an amended sale and purchase agreement with Carnegie Clean Energy for the acquisition of the latter’s Energy Made Clean (EMC) business.

Tag Pacific has entered an amended sale and purchase agreement with Carnegie Clean Energy for the acquisition of Energy Made Clean (EMC).

Carnegie will receive 17.5% diluted issued capital of Tag, including a capital raising of no less than $4m. The company will also receive a note convertible into consideration shares.

Based in Australia, Tag Pacific is an investment house which focuses on niche areas of the power industry, while Carnegie Clean Energy is engaged in the development of solar energy, battery storage, and wave energy projects.

Skyline Renewables has reached an agreement to acquire Starwood Energy’s 51% stake in the Horse Creek and Electra wind farms located in Texas, US.

The transaction will enable Skyline Renewables to meet its target of becoming a leading independent clean energy platform with great assets.

“The transaction will enable Skyline Renewables to meet its target of becoming a leading independent clean energy platform with great assets.”

Based in the US, Skyline Renewables is a provider of independent clean energy platform, while Starwood Energy is a private investment firm.

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Jacobs Engineering Group (Jacobs) has reached an agreement with WorleyParsons for divesting its energy, chemicals and resources (ECR) segment for $3.3bn. The consideration will include $2.6bn in cash and $700m in WorleyParsons ordinary shares.

The acquisition is part of Jacobs’ move to increase its focus on higher margin lines of business such as aerospace, technology, environmental and nuclear, as well as buildings, infrastructure and advanced facilities.

US-based Jacobs is engaged in providing technical professional services, while WorleyParsons is an Australia-based professional services provider.

Ørsted has awarded a wind turbines supply contract for the first 900MW Greater Changhua Offshore wind farms being developed in Taiwan to Siemens Gamesa Renewable Energy (SGRE).

SGRE will supply 112 SG 8.0-167 DD offshore wind turbines for the project.

Construction of the wind farms is expected to begin in 2021.

Based in Denmark, Ørsted is an offshore wind company, while SGRE is a wind turbine manufacturer based in Spain.

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