M&As this week: Sinovel, Canada Pension Plan Investment Board

26 January 2018 (Last Updated January 26th, 2018 09:29)

Sinovel Wind Group has plans to purchase a 70% interest in a Chinese electricity distribution company from an unnamed party.

Sinovel Wind Group has plans to buy a 70% interest in a Chinese electricity distribution company from an unnamed party.

Sinovel company is engaged in the manufacture and sale of onshore, offshore and intertidal wind turbines.

Canada Pension Plan Investment Board (CPP Investment Board) has agreed to acquire a 6.3% interest in ReNew Power Ventures from Asian Development Bank (ADB) for $144m.

The target company is an independent power generation company based in India.

“The acquiring company is involved in the generation and distribution of heat and electric power.”

SPIC Shijiazhuang Dongfang Energy plans to purchase 40.9% interest in an energy company based in Guizhou for CNY1.3bn ($202.97m) through its joint-stock fund.

Based in China, the acquiring company is involved in the generation and distribution of heat and electric power.

UAE-based heating solutions provider Joule Group has acquired UK-based solar thermal cylinders manufacturer and distributor RM Solar (RM cylinders).

The acquisition will enable Joule Group to expand its product portfolio.