M&As this week: ReneSola, ENGIE North America, Gage

4 May 2018 (Last Updated May 4th, 2018 10:43)

ReneSola has divested a 40.13% stake in Zhejiang ReneSola Investment to a strategic investor for CNY200m ($31.54m).

ReneSola has divested a 40.13% stake in Zhejiang ReneSola Investment to a strategic investor for CNY200m ($31.54m).

Based in China, ReneSola is engaged in renewable power generation, while Zhejiang ReneSola Investment develops distributed generation projects.

ENGIE North America has acquired Unity International Group, an electrical construction and maintenance company based in the US.

The acquisition will provide ENGIE North America with access to a broad platform for delivering electrical construction, maintenance and IT services to its customers in the US.

Also based in the US, ENGIE North America is engaged in retail energy sales and services.

Gage has completed an acquisition of Gentech Power Solutions, a US-based company engaged in the provision of installation, maintenance and repair services for standby generators.

“Fortune Parts Industry Public Company has agreed to purchase a 40% interest in TSE Overseas Group Company.”

Based in the US, Gage provides full-service telecommunications and information technology (IT) services.

Fortune Parts Industry Public Company has agreed to purchase a 40% interest in TSE Overseas Group Company from Thai Solar Energy Public Company for THB1.7bn ($54m).

Under the agreement, Fortune Parts Industry will purchase 74 million shares of TSE Overseas Group priced at THB22.9 ($0.72) a share.

Fortube Parts Industry Public Company manufactures and distributes automotive replacement parts, while TSE Overseas Group Company is engaged in renewable energy generation.

Techno Electric & Engineering Company has reached an agreement with Kalpataru Power Transmission to acquire a 26% stake in special-purpose vehicle (SPV) Kdhima-Mariani Transmission.

Kalpataru Power Transmission acquired the SPV from PFC Consulting (PFCCl), which established the SPV to expand its 400kV network in the north-east region of India.

Techno Electric & Engineering Company provides engineering, procurement and construction (EPC) services, while Kalpataru Power Transmission is engaged in power transmission.

All the companies involved in the transaction are based in India.

ReNew Power Ventures has reached an agreement with UK-based investment company Infrastructure India to acquire Indian Energy (IEL) for Rs364m ($5.47m).

Based in India, ReNew Power Ventures is engaged in renewable energy generation, while EIL is a renewable energy company based in the UK.

The acquisition will enable ReNew Power Ventures to expand its windpower generation capacity to 1.8GW.

Infrastructure India has selected Greenstone Energy Advisors as its financial advisor for the transaction.