Shizen Energy Secures $480 Million Investment From CDPQ

Steag, a German power group, is acquiring a stake in Solytic, a Berlin-based digital platform operator designed to enhance the performance of solar projects.

The Berlin-based start-up supplies cloud-based, manufacturer, and hardware-independent monitoring software for photovoltaic systems. With this software solution, the performance of PV plants can be monitored, and their economic efficiency can be increased. Details about the acquired equity stake and the price of the deal were not disclosed.

The range of digital services at STEAG extends from software for plant monitoring and control to an app-based platform for micro-investments and software tools that enable efficient energy management and CO2 emissions accounting. “Our Stuttgart-based subsidiary OPTENDA, which specializes in digitalization, has particularly excelled here,” says Jan Fischer.

“By joining Solytic, we are strengthening our digital competence, creating the best conditions for additional optimization of our renewable generation portfolio, and looking forward to further successful digital solutions from our new partner,” says Dr. Ralf Schiele, Director for Market and Technology at STEAG, explaining the reasons for the investment decision.

Pivot Energy, a commercial and community solar project developer, recently acquired SGC Power, a Maryland-based community solar developer. SGC Power has been involved in 2.8 gigawatts of solar projects since the company’s founding in 2008.

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 1H 2022, the top deal was by Macquarie Asset Management, a consortium with British Columbia Investment Management Corporation (BCI) and MEAG, which agreed to acquire Reden Solar from InfraVia Capital Partners and Eurazeo for an enterprise value of $2.72 billion.

In a recent transaction, ICG, an alternative asset manager, recently announced that its debut Infrastructure fund, ICG Infra I (ICG Infra), has acquired British Solar Renewables (BSR), an integrated solar developer in the UK. The financial terms of the acquisition were not disclosed. ICG Infrastructure Equity raised €1.5 billion (~$1.28 billion) in investor commitments in February this year, enabling the acquisition from Siem Europe.