PNE AG, a German power-focused renewables company, has acquired 51% of the shares in Coliaenergia (KOLYA), a Spanish developer of large solar projects from Consultoria Industrial Beaguihe and Garisun renovables.

Kolya’s project pipeline currently totals 1,808 MW, including around 1,004 MW for its development and some 804 MW for third parties. The firm also has identified initial areas for the development of wind projects.

PNE noted in Q2 2022 that it had expanded its solar pipeline to 2,408 MW at the end of June from 1,423 MW at the end of March 2022. The investment in Kolya further increases its PV pipeline to a total of 4,216 MW.

“The acquisition of the majority stake in KOLYA is an important building block in our strategic development into a Clean Energy Solutions Provider. This expands our “pipeline” of ongoing PV projects to a total of 4,216 MWp. We see further attractive prospects for our activities in this area and look forward to working with our new partners,” explains Markus Lesser, CEO of PNE AG.

“The transaction is the perfect opportunity for KOLYA to develop in the Spanish market with a leading partner and focus on contributing to the energy transition and sustainability in Spain,” said Héctor García, Managing Director of KOLYA.

The transaction amount was not disclosed.

Recently, TRC Companies (TRC), a consulting firm providing environmentally focused and digitally powered solutions, acquired Blue Oak Energy, a firm specializing in engineering solar and solar energy storage projects. With this acquisition, TRC is expanding its renewable energy capabilities.

According to Mercom’s 1H and Q2 2022 Solar Funding and M&A Report, In 1H 2022, there were 53 solar M&A transactions compared to 54 transactions in 1H 2021.

In July, CleanCapital, a clean energy investment company, acquired 100% ownership stakes in BQ Energy (BQE), a landfill and brownfield renewable energy development company. The acquisition includes about 300 MW of late-stage development solar projects and more than 700 MW of mid-stage solar projects. CleanCapital will fund these projects at various development stages, deploy capital to projects that advance the energy transition, and put underutilized and polluted land to new use with myriad climate and community-related benefits.