Private Equity-Backed Energy Acquisitions
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March 15, 2026
- Buyer
- ArcLight Capital Partners
- Target
- Invenergy AMPCI Thermal Power (IATP)
- Seller
- InfraBridge
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
ArcLight Capital Partners has signed a definitive agreement to acquire InfraBridge’s 50% stake in Invenergy AMPCI Thermal Power (IATP), a jointly owned 5.4 GW contracted power portfolio across North America. The portfolio includes 11 combined-cycle power facilities in the United States and Canada, and Invenergy will retain its existing ownership stake and continue operating the assets.
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March 12, 2026
- Buyer
- Ara Energy
- Target
- Gate City Power, Gate City Renewable Fuels, JET retail fuel network interest
- Seller
- HF Capital
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Ara Partners’ energy platform, Ara Energy, will acquire Gate City Power, Gate City Renewable Fuels, and an interest in the JET retail fuel network for approximately $875 million. The deal is financed with equity from Ara-managed funds and co-investment vehicles and is expected to close in early 2026, subject to regulatory approvals and customary closing conditions.
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- Buyer
- MidOcean Energy
- Target
- JERA Gorgon Pty Ltd
- Seller
- JERA Co., Inc.
- Industry
- Energy
- Location
- District of Columbia, United States
- Type
- Buyout
MidOcean Energy, formed and managed by EIG, entered into definitive agreements to acquire JERA Gorgon Pty Ltd, which holds JERA’s 0.417% interest in the Gorgon LNG project, increasing MidOcean’s stake to 1.417%. The deal also includes JERA’s 0.735% interest in the Ichthys LNG project, which is expected to be transferred to an existing Ichthys joint venture participant after sale to MidOcean, subject to conditions precedent.
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- Buyer
- Trive Capital, Rolfson Oil, Flint Logistics Group
- Target
- Rolfson Oil, Flint Logistics Group
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Trive Capital, a Dallas-based private equity firm, invested in Rolfson Oil, a distributor of fuel, oils, and lubricants serving the energy sector. After the investment, Rolfson acquired Flint Logistics Group, expanding Rolfson’s footprint across Oklahoma, Texas, and New Mexico and improving operational efficiency to support growth.
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- Buyer
- Scale, EQT
- Target
- Reload
- Industry
- Energy
- Location
- Illinois, United States
- Type
- Addon
Scale, an EQT-backed provider of on-site energy solutions, has acquired Reload, a powered land development platform focused on siting, designing, and permitting gigawatt-scale data center campuses. The deal adds Reload's grid-scale development expertise and multi-gigawatt pipeline to Scale's data center energy offering to accelerate speed-to-power for hyperscalers and other large customers.
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February 13, 2026
- Buyer
- TA Associates, Advent International, Generation Investment Management, Arendals Fossekompani
- Target
- Volue
- Seller
- Arendals Fossekompani
- Industry
- Energy
- Location
- Oslo, Norway
- Type
- Growth capital
TA Associates joined as a new strategic investment partner in Volue, investing alongside existing shareholders Advent International, Generation Investment Management, and Arendals Fossekompani. The deal values Volue at about €1.5 billion (100% basis) and includes cash proceeds of approximately EUR 38 million to Arendals Fossekompani, with Arendals Fossekompani’s ownership expected to be around 36% after closing (subject to regulatory approvals and closing adjustments).
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January 30, 2026
- Buyer
- Boyne Capital, New 2nd Capital
- Target
- Pilot Energy
- Industry
- Energy
- Location
- California, United States
- Type
- Addon
Boyne Capital closed a single-asset secondary transaction forming a continuation fund to extend its partnership with Pilot Energy. The fund is managed and controlled by Boyne, anchored by New 2nd Capital as lead investor, and includes new capital to support Pilot’s acquisition strategy and organic growth initiatives.
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- Buyer
- RESA Power, Kohlberg
- Target
- Société Générale d'Électrotechnique (SGE)
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Addon
RESA Power, a portfolio company of Kohlberg, has acquired Québec City-based Société Générale d'Électrotechnique (SGE), adding in-house engineering and Canadian manufacturing of medium- and high-voltage power transformers. The deal expands RESA Power's footprint into Quebec and broadens its electrical construction, testing, and transformer capabilities as part of a strategy to build regional hubs across Canada.
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January 29, 2026
- Buyer
- TPI Efficiency, ScaleCo Capital
- Target
- Community Energy Advisors, Viridi
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
ScaleCo Capital’s portfolio company TPI Efficiency acquired both Community Energy Advisors and Viridi in two related add-on acquisitions. The deals expand TPI’s energy procurement and efficiency management platform with customized advisory and energy procurement capabilities for mid-sized commercial clients.
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January 29, 2026
- Buyer
- The Carlyle Group
- Target
- LUKOIL International GmbH
- Seller
- LUKOIL
- Industry
- Energy
- Location
- Austria
- Type
- Divestiture
LUKOIL announced it has signed an agreement with Carlyle to sell LUKOIL International GmbH, a wholly owned subsidiary holding the LUKOIL Group’s international assets. The transaction is framed as a response to constraints imposed by certain countries, and it explicitly excludes the group’s Kazakhstan assets, which will remain owned by LUKOIL under existing licenses.
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January 26, 2026
- Buyer
- Guardian Propane Partners, Tecum Capital, Inyarek Partners
- Target
- F.A. Days & Sons
- Industry
- Energy
- Location
- United States
- Type
- Addon
Tecum Capital and Inyarek Partners launched operator-led propane platform Guardian Propane Partners, backed by equity and debt capital. As part of the platform’s launch, Guardian Propane acquired F.A. Days & Sons, a long-running propane and heating oil provider on the Outer Cape of Massachusetts.
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January 6, 2026
- Buyer
- RESA Power, LLC
- Target
- 3MD Power Services LLC
- Industry
- Energy
- Location
- Virginia, United States
- Type
- Addon
RESA Power, a Kohlberg-backed provider of power systems services, has acquired 3MD Power Services LLC, a Roanoke, Virginia-based specialist in high-voltage transformer testing, repair, maintenance and installation. The add-on expands RESA Power's transformer solutions capabilities, increases its oil/dielectric fluid processing rig fleet and establishes a local operating presence in the South Atlantic states.
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January 6, 2026
- Buyer
- Lane42 Investment Partners, Karis Midstream Partners
- Target
- Aqua Terra Permian, LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Lane42 Investment Partners, in partnership with Karis Midstream Partners, has acquired Aqua Terra Permian, an energy midstream company operating gathering, transportation and saltwater disposal assets in the Permian Basin. The investment will strengthen the company’s balance sheet and provide capital to support growth as the platform will be led by the Karis team with Odely Sakazi as CEO and David Melton as COO.
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- Buyer
- ATS – Advance Technologies System S.r.l., Maximum Return System Group
- Target
- Conexus S.p.A.
- Seller
- Mutares SE & Co. KGaA
- Industry
- Energy
- Location
- Italy
- Type
- Divestiture
Mutares SE & Co. KGaA has signed an agreement to sell its portfolio company Conexus S.p.A. to ATS – Advance Technologies System S.r.l., a wholly owned subsidiary of Maximum Return System Group. The deal is expected to close in the first quarter of 2026, subject to customary conditions including approval under Italy’s “Golden Power” regime.
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- Buyer
- Stonepeak, CPP Investments, bp
- Target
- Castrol
- Seller
- bp
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
Stonepeak has agreed to acquire a majority controlling interest in Castrol from bp in a transaction valuing the lubricants business at an enterprise value of approximately $10.1 billion. bp will retain a 35% minority stake, while CPP Investments will invest up to USD $1.05 billion in support of the deal; the transaction is expected to close by the end of 2026, subject to regulatory approvals.
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December 18, 2025
- Buyer
- Revelar Capital
- Target
- Lettermen's Energy Holdings, LLC
- Seller
- CID Capital
- Industry
- Energy
- Location
- Missouri, United States
- Type
- Divestiture
Revelar Capital has acquired Lettermen's Energy Holdings, LLC from Indianapolis-based private equity firm CID Capital. Lettermen's, a Kansas City-headquartered consolidator of independent propane distributors with operations in roughly 20 states and about 240 employees, was built by CID through a buy-and-build strategy and will enter its next growth phase under Revelar's ownership; terms were not disclosed.
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December 17, 2025
- Buyer
- Stonepeak
- Target
- Allgas
- Seller
- APA Group, Marubeni Corporation, other shareholders
- Industry
- Energy
- Location
- Queensland, Australia
- Type
- Buyout
Stonepeak has entered into a definitive agreement to acquire Allgas, a gas distribution network operating across Queensland, Australia. The deal is subject to regulatory approvals and is expected to close in the first half of 2026.
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December 16, 2025
- Buyer
- Iron Oak Energy Solutions LLC
- Target
- Superior Silica Sands LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Iron Oak Energy Solutions LLC acquired Superior Silica Sands LLC in an all-stock transaction, adding over 3 million tons per year of frac sand production capacity and expanding Iron Oak's footprint in the Eagle Ford Shale. The deal increases Iron Oak's total annual production capacity to roughly 40 million tons and broadens the combined platform's ability to serve oil & gas, construction and industrial sand markets.
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December 15, 2025
- Buyer
- Canada Pension Plan Investment Board (CPP Investments), Global Infrastructure Partners (GIP)
- Target
- ALLETE, Inc.
- Industry
- Energy
- Location
- Minnesota, United States
- Type
- Buyout
CPP Investments and Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire ALLETE for $67 per share in cash, valuing the transaction at $6.2 billion including assumed debt. The deal is expected to close in mid-2025 (later described as closing around Dec. 15, pending remaining conditions) and will take ALLETE private while delivering approximately $200 million in benefits to Minnesota Power customers and communities.
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December 11, 2025
- Buyer
- Reliable Energy Partners, Soundcore Capital Partners
- Target
- Economy Propane
- Seller
- Doug McKnew, Bobby Perry
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Addon
Reliable Energy Partners, a propane distribution platform owned by Soundcore Capital Partners, has acquired Economy Propane, a bulk-propane distributor headquartered in Baltimore, Maryland. The add-on expands Reliable’s footprint into the Mid-Atlantic and broadens the platform’s capabilities into bulk propane distribution to serve residential, commercial and industrial customers.
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December 9, 2025
- Buyer
- LS Power
- Target
- BP Wind Energy North America Inc.
- Seller
- bp
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
LS Power completed the acquisition of bp’s US onshore wind business, BP Wind Energy North America Inc., adding approximately 1,300 MW of operating onshore wind capacity across 10 projects. The assets will be integrated into LS Power affiliate Clearlight Energy, expanding Clearlight’s national footprint and increasing LS Power’s North American renewable generation scale.
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December 4, 2025
- Buyer
- Celtis Venture Partners, Cleanwatts management team (José Basílio Simões, Jorge Landeck, James McDougall)
- Target
- Cleanwatts Digital
- Industry
- Energy
- Location
- Portugal
- Type
- Growth capital
Cleanwatts Digital has launched as an independent AI-powered digital energy company after a management buyout led by founding partners José Basílio Simões, Jorge Landeck and James McDougall, with investment from Celtis Venture Partners. The Coimbra-based company provides battery integration, renewable asset optimization and behind-the-meter energy management via a cloud-based platform that serves global clients and manages 1.5 TWh across ~35,000 IoT devices.
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November 24, 2025
- Buyer
- Reliable Energy Partners, Soundcore Capital Partners
- Target
- Gateway Propane
- Industry
- Energy
- Location
- Missouri, United States
- Type
- Addon
Reliable Energy Partners, a propane distribution platform owned by Soundcore Capital Partners, has acquired Gateway Propane, a market-leading propane distributor serving the greater St. Louis area. The add-on expands Reliable's operational footprint to three states and strengthens its strategy of scaling a multi-regional propane distribution platform; terms were not disclosed.
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November 14, 2025
- Buyer
- Waterous Energy Fund Management Corp. (on behalf of Waterous Energy Fund III partnerships)
- Target
- Greenfire Resources Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Waterous Energy Fund Management Corp., acting for certain Waterous Energy Fund III partnerships, purchased 1,926,055 common shares of Greenfire Resources Ltd. in a private transaction for C$6.65 per share (C$12.81 million), increasing its ownership in Greenfire to approximately 71.1% on an undiluted basis. The purchase represents an incremental strategic investment by Waterous to consolidate its position in the Calgary-based oil sands producer.
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November 13, 2025
- Buyer
- GigCapital7 Corp.
- Target
- Hadron Energy, Inc.
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Hadron Energy, Inc. and GigCapital7 Corp. announced the filing of their joint registration statement on Form S-4 with the U.S. SEC in connection with a previously announced $1.2 billion business combination agreement dated September 29, 2025. The parties target closing the merger during the first half of Q1 2026, which would take Hadron public.
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November 12, 2025
- Buyer
- Soundcore Capital Partners, Reliable Energy Partners
- Target
- Florida Lift Gas
- Industry
- Energy
- Location
- Florida, United States
- Type
- Buyout
Soundcore Capital Partners has formed Reliable Energy Partners, a propane distribution growth platform, through its acquisition of Florida Lift Gas and has named industry veteran Sean Daugherty as CEO. The platform — headquartered in Tampa, Florida and wholly owned by Soundcore — will pursue organic growth and strategic add-on acquisitions to scale a multi-regional residential and commercial propane distribution business.
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November 12, 2025
- Buyer
- Clarios
- Target
- Maxwell Technologies
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Clarios has acquired Maxwell Technologies, a U.S.-based manufacturer of supercapacitor cells and modules, to strengthen its position in high-performance, short-duration energy storage solutions. Financial terms were not disclosed; Maxwell will operate as an independent U.S.-based business unit and the deal is intended to expand Clarios' supercapacitor capabilities, supply-chain resilience, and reach into non-automotive end markets such as data centers and grid applications.
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- Buyer
- Hitachi Energy, Blackstone Energy Transition Partners
- Target
- Shermco
- Seller
- Private equity funds affiliated with Blackstone
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Hitachi Energy has acquired a minority stake in Shermco, a leading North American electrical services provider, in partnership with Blackstone Energy Transition Partners. The strategic investment aims to expand Hitachi Energy's service capabilities across North America, accelerate Shermco's growth, and develop new digital service offerings to improve grid reliability and asset lifecycle management.
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October 29, 2025
- Buyer
- Cygnet Energy Ltd., NGP Energy Capital Management, Carlyle, ARC Financial Corp.
- Target
- Kiwetinohk Energy Corp. (KEC)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Cygnet Energy has entered into a definitive agreement to acquire Kiwetinohk Energy Corp. (KEC) for C$24.75 per share in cash, valuing the transaction at approximately C$1.4 billion including debt. The deal is expected to close in December 2025, subject to court and regulatory approvals, with funding primarily from NGP Energy Capital Management and Carlyle and a portion of ARC Financial’s KEC shares rolling into Cygnet equity.
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October 28, 2025
- Buyer
- RESA Power, LLC, Kohlberg
- Target
- Accurate Power Group Limited
- Seller
- Darren Boeur
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Addon
RESA Power, a Kohlberg-backed provider of power systems services, has acquired Accurate Power Group Limited, a Vancouver-based electrical testing and infrared thermography specialist. The add-on expands RESA Power's technical capabilities and vault/thermography services in the greater Vancouver market as part of a broader Canadian growth strategy.
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- Buyer
- SkyKnight Capital
- Target
- Force Electrical Services
- Industry
- Energy
- Location
- Oklahoma, United States
- Type
- Growth capital
SkyKnight Capital has made a growth investment in Force Electrical Services, a transmission and distribution repair and maintenance provider headquartered in Oklahoma, to support the company's expansion of services and capabilities. The founder will remain a significant shareholder and the existing management team will continue to lead as Force scales its footprint across the South-Central United States.
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October 9, 2025
- Buyer
- Resource Innovations
- Target
- Shifted Energy
- Industry
- Energy
- Location
- Hawaii, United States
- Type
- Buyout
Resource Innovations (RI), a San Francisco–based utility software and consulting platform, has acquired Honolulu-based Shifted Energy to integrate its Grid Maestro DERMS technology into RI’s demand-side management (DSM) and grid-edge offerings. The deal expands RI’s capability to deliver end-to-end virtual power plant and flexible load management solutions at scale, with a focus on equitable access for renters and underserved communities.
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October 8, 2025
- Buyer
- Environ Energy, 424 Capital
- Target
- Scioto Energy
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
Environ Energy, a PE-backed national energy management platform, has acquired Scioto Energy, an independent energy brokerage and advisory firm based in Columbus, Ohio. The add-on expands Environ’s presence in the PJM market and Midwest, enhances its procurement and advisory capabilities, and keeps Scioto’s leadership and client-focused team in place under the Environ platform.
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- Buyer
- Northleaf Capital Partners, Provident Energy Management Inc.
- Target
- PowerStream Energy Services
- Seller
- Alectra Energy Services Inc., Alectra Inc.
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Addon
Infrastructure funds managed by Northleaf Capital Partners completed a tuck‑in acquisition of PowerStream Energy Services from Alectra Energy Services Inc., executed through Northleaf portfolio company Provident Energy Management. The deal expands Provident’s sub‑metering and billing footprint across Ontario, combining complementary capabilities and a contracted revenue profile to drive scale and growth.
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- Buyer
- Commonwealth Electrical Technologies, Broad Sky Partners
- Target
- NuWave Energy Solutions
- Industry
- Energy
- Location
- Massachusetts, United States
- Type
- Addon
Commonwealth Electrical Technologies (CET), a Broad Sky Partners–backed electrical contractor based in Worcester, Massachusetts, has acquired NuWave Energy Solutions, a Norwell, Massachusetts–based design/build energy-efficiency firm. The add-on deal — CET’s first transaction under Broad Sky’s ownership — expands CET’s sustainability and energy-conservation capabilities across commercial, industrial and institutional end markets; terms were not disclosed.
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October 7, 2025
- Buyer
- Ardian
- Target
- Energia Group
- Seller
- I Squared Capital
- Industry
- Energy
- Location
- Ireland
- Type
- Buyout
Ardian has announced a definitive agreement to acquire 100% of Energia Group from I Squared Capital. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals.
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October 2, 2025
- Buyer
- Madison Energy Infrastructure
- Target
- NextEra Energy Resources' Distributed Generation Platform
- Seller
- NextEra Energy Resources
- Industry
- Energy
- Location
- Florida, United States
- Type
- Divestiture
Madison Energy Infrastructure completed the acquisition of NextEra Energy Resources' distributed generation development platform, including operating solar and energy storage assets, a development pipeline and customers across 25 states. The deal brings Madison's ecosystem to nearly 1 GW of operating clean energy infrastructure and expands its commercial and community customer footprint while leveraging recent financing and support from EQT and other capital partners.
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- Buyer
- Nuveen (Private Equity Impact team), Nuveen Climate Inclusion Fund II
- Target
- Ally Energy Solutions, LLC
- Industry
- Energy
- Location
- Kansas, United States
- Type
- Buyout
Nuveen’s Private Equity Impact team has acquired a majority interest in Ally Energy Solutions, a U.S.-based provider of turnkey energy solutions for commercial and industrial customers. The investment, the sixth for Nuveen Climate Inclusion Fund II, will support Ally’s national growth and deepen its capabilities in distributed clean energy, electrical infrastructure upgrades, and energy-efficiency projects.
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September 17, 2025
- Buyer
- I Squared Capital
- Target
- ENTEK Technology Holdings LLC
- Seller
- None mentioned
- Industry
- Energy
- Location
- Indiana, United States
- Type
- Buyout
I Squared Capital has signed a definitive agreement to acquire a majority equity interest in ENTEK Technology Holdings LLC (ENTEK) for an $800 million investment. The capital will fund construction of a wet-process lithium-ion battery separator gigafactory in Terre Haute, Indiana, supported by a U.S. Department of Energy ATVM loan of up to $1.3 billion and targeted tax credits.
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September 16, 2025
- Buyer
- TiLT Capital Partners, SWEN Capital Partners
- Target
- Negratín Global Services
- Industry
- Energy
- Location
- Andalusia, Spain
- Type
- Growth capital
TiLT Capital Partners has acquired a 38% stake in Spain-based Negratín Global Services, with SWEN Capital Partners also participating in the minority investment. The growth-capital investment will support Negratín's expansion into larger-scale EPC projects, accelerate the roll-out of its own photovoltaic plants as an IPP, and strengthen international expansion while the founders remain majority shareholders.
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September 11, 2025
- Buyer
- PowerTransitions, Partners Group
- Target
- Camden Power Plant, Dartmouth Power Plant
- Seller
- Talen Energy, EnCap Investments
- Industry
- Energy
- Location
- United States
- Type
- Divestiture
PowerTransitions closed the acquisition of a 226 MW seed portfolio of natural-gas-fired power generation assets (the 145 MW Camden Plant in New Jersey and the 81 MW Dartmouth Plant in Massachusetts) from Talen Energy on September 11, 2025. Partners Group simultaneously completed its acquisition of PowerTransitions from EnCap Investments and plans to invest over $450 million to accelerate PowerTransitions' growth and redevelop legacy assets into new generation, battery storage and powered land sites for data centers and advanced manufacturers.
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- Buyer
- Macquarie Specialised and Asset Finance (Macquarie)
- Target
- SP Smart Meter Assets Limited (SPSMAL)
- Seller
- ScottishPower, Iberdrola
- Industry
- Energy
- Location
- Scotland, United Kingdom
- Type
- Buyout
Macquarie Specialised and Asset Finance (part of Macquarie Group) has completed the acquisition of SP Smart Meter Assets Limited (SPSMAL) from ScottishPower/Iberdrola for around £900 million. The deal adds ~2.9 million smart meters to Macquarie's UK portfolio and establishes a long-term Meter Asset Provision arrangement with ScottishPower to support the ongoing smart meter rollout.
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September 4, 2025
- Buyer
- Solaris Assets, LLC, GoodFinch Management, LLC, Ad hoc group of DIP financing lenders
- Target
- Sunnova Energy International Inc.
- Seller
- Sunnova Energy International Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Solaris Assets, LLC (an acquisition vehicle formed by an ad hoc group of DIP financing lenders and affiliates and entities controlled by GoodFinch Management, LLC) completed the purchase of substantially all assets and business operations of Sunnova Energy International Inc. in a court‑supervised Chapter 11 sale. The deal was structured as a credit bid plus $25 million in cash and certain cure payments, and Sunnova’s core operations will transition to SunStrong Management, LLC as the asset manager to ensure continuity of residential solar servicing, O&M, and portfolio management.
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September 3, 2025
- Buyer
- Environ Energy
- Target
- CSD Energy Advisors
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Environ Energy has acquired Houston-based CSD Energy Advisors, adding nearly 1,000 clients including multiple Fortune 500 companies and several of Texas's largest industrial energy consumers. The CSD co-founders and their team will join Environ to expand the firm's energy procurement, demand response, and storage capabilities as part of Environ's continued PE-backed roll-up strategy with partner 424 Capital.
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September 3, 2025
- Buyer
- SPATCO Energy Solutions, Kian Capital Partners
- Target
- Excell Fueling Systems
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Kian Capital-backed SPATCO Energy Solutions has acquired Excell Fueling Systems, a HUB-certified fueling system contractor based in Buda, Texas. The add-on expands SPATCO’s commercial fueling installation and maintenance capabilities in Texas and deepens the platform’s presence in a high-growth region.
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September 3, 2025
- Buyer
- Vision Ridge Partners
- Target
- Pelican Energy TCI (formerly FortisTCI Ltd.)
- Industry
- Energy
- Location
- Turks and Caicos Islands
- Type
- Buyout
Funds managed by Vision Ridge Partners have acquired FortisTCI Ltd., the electricity utility serving the Turks and Caicos Islands; the company has rebranded as Pelican Energy TCI. Vision Ridge said it will work with management and local stakeholders to modernize generation assets, improve the generation mix and grid infrastructure to increase sustainability, reliability and long-term energy security. Terms of the transaction were not disclosed.
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September 2, 2025
- Buyer
- Deep Blue Midland Basin LLC
- Target
- Environmental Disposal Systems, LLC
- Seller
- Diamondback Energy, Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Deep Blue Midland Basin LLC, the Midland Basin water-infrastructure platform backed by Five Point and Diamondback, agreed to acquire Environmental Disposal Systems, LLC from Diamondback Energy. The transaction (valued at $750 million) nearly doubles Deep Blue's scale, secures a 15-year dedication from Diamondback, and is expected to unlock operational and commercial synergies across the integrated produced-water system.
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August 25, 2025
- Buyer
- TRC Companies, Inc.
- Target
- Strategic Energy Group
- Industry
- Energy
- Location
- Oregon, United States
- Type
- Buyout
TRC Companies, a global professional services firm focused on the energy transition, has acquired Strategic Energy Group (SEG), a North American leader in strategic energy management. The acquisition expands TRC’s energy-efficiency and strategic energy management capabilities across utilities, commercial, and industrial customers.
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August 18, 2025
- Buyer
- Sun Valley Investments AG, Goldlogic Corp.
- Target
- Canagold Resources Ltd.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Growth capital
Sun Valley Investments AG and related party Goldlogic Corp. participated in a private placement acquiring 4,889,684 common shares of Canagold Resources Ltd. for approximately CAD$2.0 million. The transaction increases Sun Valley's stake in Canagold to approximately 48.25% on an undiluted basis and was completed August 18, 2025; the investment was made for investment/growth purposes to support the company's exploration and development activities.
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- Buyer
- Global Infrastructure Partners (GIP)
- Target
- Eni CCUS Holding
- Industry
- Energy
- Location
- Italy
- Type
- Growth capital
Global Infrastructure Partners (GIP), a BlackRock company, has entered into a definitive agreement to acquire a 49.99% interest in Eni CCUS Holding, a global CCUS platform. The partnership will support development of Eni CCUS projects across the UK, the Netherlands, and Italy, with an option to participate in future Ravenna CCS activity and potential satellite opportunities tied to Eni’s depleted oil and gas fields.
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