Mergers & Acquisitions

Google is set to acquire solar and storage developer Intersect Power, arming itself with the tools to bypass grid bottlenecks and build the projects that will power its AI data centers.

Waaree Solar Americas has entered into a binding term sheet with United Solar Holding Inc. (USH), a Cayman Islands-based company, to invest around $30 million through the subscription of Series B preferred shares. The investment is a strategic move by Waaree to secure a long-term, fully traceable polysilicon supply chain to support its rapidly expanding manufacturing footprint in the U.S. and globally.

Global Infrastructure Partners (GIP), part of BlackRock, is set to invest INR 3,000 crore for a minority stake in Aditya Birla Renewables, a commercial and industrial (C&I)-focused renewable energy platform under the Aditya Birla Group, with a pan-India portfolio of 4.3 GW.

Premier Energies Ltd will subscribe to 1,04,082 equity shares of Hyderabad-based Transcon Ind Ltd at a price of INR 48,069 per share, for a total consideration of INR 500.3 crore. This strategic investment marks Premier Energies’ entry into the power transformer manufacturing segment.

ReNew Energy Global Plc has announced that it has received a best and final non-binding buyout proposal from Masdar, CPP Investments, the Abu Dhabi Investment Authority, and Sumant Sinha. The offer of $8.15 per share represents an increase of $1.08 per share, or 15.3%, from the initial non-binding proposal dated December 10, 2024.

Waaree Energies Ltd has completed the acquisition of a 64% equity stake in transformer solutions company Kotsons Pvt Ltd (KPL) for a total consideration of INR 192 crore. Consequently, KPL has become a subsidiary of the company. 

Statkraft has signed an agreement to sell approximately 1.5 GWp of its renewable energy portfolio in Rajasthan, comprising the recently commissioned 445 MWp Khidrat solar plant and around 1,000 MWp of solar and wind projects at various stages of development.

ACME Solar Holdings has executed a share purchase agreement to acquire 100% equity shares of AK Renewable Infra for an enterprise value of INR 79.25 crore.

Kotsons’ UL certifications for dry transformers open significant opportunities for exports to the USA and Canada, aligning with Waaree’s growing international presence.

Everest Industries, a building solutions company in India, has invested INR 1.76 crore in Amplus Ampere (Amplus), a special-purpose vehicle (SPV) created by Amplus Energy Solutions to set up a solar power plant for group captive consumption.