M&As this week: TerraForm Power, Aker Solutions, Eurowind Energy

9 February 2018 (Last Updated February 8th, 2018 10:55)

Eurowind Energy has acquired Wind 1 through a share purchase mechanism.

Eurowind Energy has acquired Wind 1 through a share purchase mechanism.

The company will pay €12.2 ($15.1) in cash per share of Saeta Yield, which will be funded through an equity offering of $400m and $800m of liquid resources.

TerraForm Power is a US-based renewable energy company, while Saeta Yield is a Spanish renewable energy company.

“Eurowind Energy has acquired Wind 1 through a share purchase mechanism.”

Aker Solutions has acquired a 5% stake in Principle Power, a floating windpower technology company based in the US.

Aker Solutions also holds an option to further increase ownership and proposes to acquire an additional 10% stake in Principle Power by the end of 2018.

Based in Norway, Aker Solutions is a provider of subsea production equipment and offshore field design services. The acquisition will broaden the firm’s offshore oil and gas field engineering expertise and create a broader market for Principle Power’s floating foundation technology.

Eurowind Energy has acquired Wind 1 through a share purchase mechanism.

Both the companies are based in Denmark and are engaged in the development of windfarms.

Just Energy Group has entered a sale and purchase agreement to acquire all of EdgePower’s issued and outstanding shares for $20m.

Conducted through Just Energy Group’s subsidiary, the company will pay $14m at closure, including approximately $7m cash and $7m in common shares. There will also be a one-time performance-based pay-out that is payable after three years subject to a maximum of $6m.

The acquisition will enable Just Energy to apply innovative technological methods to improve customer experience.

Just Energy Group is a Canadian retail energy services provider, while EdgePower is an energy monitoring and management company based in the US.