M&As this week: First Solar, Engie, Amazon.com, and Abu Dhabi Water & Electricity Authority

6 April 2017 (Last Updated April 6th, 2017 18:30)

First Solar has announced plans to sell its stake in the solarpower generation company 8point3 Energy Partners, a YieldCo joint venture (JV) between First Solar and SunPower Corp.

First Solar has announced plans to sell its stake in the solarpower generation company 8point3 Energy Partners, a YieldCo joint venture (JV) between First Solar and SunPower Corp.

By divesting the stake, the  US-based rigid thin film modules manufacturer aims to focus on development of Series 6 solar modules.

Engie has increased its stake in the renewable energy company La Compagnie du Vent from 59% to 100% through the acquisition of a 41% stake from Jean-Michel Germa’s societe Soper.

All the companies involved in this transaction are based in France.

Amazon.com has reached an agreement to buy a 23% stake in Plug Power for $65.75m.

Amazon is a global online retailer and web service provider, while Plug Power is an alternative energy technology provider specialising in the development fuel cell structures.

Abu Dhabi Water & Electricity Authority (ADWEA) has reached an agreement with the Support of Farm Owners to acquire an additional 21.67% stake in Abu Dhabi National Energy Company (TAQA).

Following the transaction, ADWEA's stake will increased from 52.38% to 74%.

"Engie has increased its stake in the renewable energy company La Compagnie du Vent from 59% to 100%."

TAQA is engaged in power generation, oil and gas, and water desalination.

CE Power Engineered Services has announced the acquisition of the electrical maintenance services company Utilities Plus Energy Services.

The acquiring company is involved in outsourced power system engineering, testing, and maintenance services.

Both the parties involved are based in the US.

ERM Power has announced the sale of SPG Energy Group, trading under Source Power & Gas, for $11m.

US-based SPG Energy Group is a retailer of power.

Toshiba Corporation has made an agreement with Engie to acquire a 40% stake in NuGeneration, a UK-based nuclear power generation company.

Toshiba is a Japan-based manufacturer and marketer of electrical and electronic products, while NuGeneration is a France-based electric utility company, which is currently developing the Moorside nuclear power plant.