Enefit Green, an Estonian renewable energy developer, has signed an agreement to acquire a 100% stake in Raabiste Pollud OU, an entity that owns 165 MW of two early-stage solar development projects in Parnu County, Estonia, from Raabiste Pollud OU. The financial side of the arrangement was not disclosed.
These projects will become part of Enefit Green’s long-term development portfolio to reach a final investment decision in 2024. This transaction is not considered to be a transaction with a related party according to stock exchange rules, and the supervisory board and management board members of Enefit Green do not have a personal interest in this transaction.
Enefit Green is a diversified renewable energy producer in the Baltic Sea area. The company operates renewable projects in Estonia, Lithuania, Latvia, and Poland. As of the end of 2021, Enefit had a total installed electricity production capacity of 457 MW.
Recently, Nautilus Solar Energy, a solar project developer on behalf of its affiliate Nautilus US Power Holdco, acquired 25 MW of two community solar projects in New York from Cipriani Energy Group Corporation, a renewable energy project developer. The two companies will co-develop eight community solar projects, totaling 25 MW. The projects are in various phases of development across six New York counties. The first projects are expected to reach operation by the fourth quarter of 2023.
According to Mercom’s 1H and Q2 2022 report, 66 large-scale solar project acquisitions in Q2 2022 compared to 82 transactions in Q1 2022.
Matrix Renewables, a renewable energy company, acquired a 4.6 GW portfolio of utility-scale solar projects across the central U.S. from SolarStone Partners. Matrix and SolarStone will jointly develop the 4.6 GW portfolio while exploring and originating additional opportunities across different markets in the U.S. The transaction details were not disclosed. The acquisition will allow Matrix to increase its backlog of renewable projects in the US and develop new projects in partnership with SolarStone. The projects will be developed across several central U.S states.