TagEnergy, a clean energy company investing in competitive generation and storage assets, has acquired ACE Power, a developer of early-stage renewable energy projects.
The acquisition, from majority shareholder Pelion New Energy along with several minority investors, is expected to accelerate TagEnergy’s growth trajectory. It also brings 27 energy transition professionals into the team.
Tag Energy, which already has approximately 1.33 GW of renewable energy projects under construction and operation in Australia, is now expected to have a pipeline of 10 GW of renewable projects nationwide after adding more than 6 GW of battery, wind, and solar projects from ACE Power through this integration.
“We’re integrating ACE Power’s deep expertise in early-stage development with our capabilities in commercialization, delivery, and long-term investment, underpinned by a clear energy management strategy that focuses on delivering greater value for the market, our customers, and partners,” says Franck Woitiez, CEO, TagEnergy.
TagEnergy was advised on the transaction by White & Case for legal matters, EY for tax and financial advisory, Aurecon for technical support, Willis Towers Watson and BMS for insurance, and Premier Strategy for community.
ACE Power was advised on the transaction by Lazard Australia as financial advisor, DLA Piper for legal matters, Alvarez & Marsal for tax and financial advisory, Aurora Energy Research for market analysis, Mott Macdonald Australia for technical support, and BMS Group as warranty and indemnity insurance broker.
The acquisition will see ACE Power’s third-party co-development projects continue under the TagEnergy banner.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage, in the first half of 2025, there were three M&A transactions in the energy storage sector, down from 14 in the first half of 2024.
In April, Blue Elephant Energy, an independent power producer specializing in renewable energy, acquired a majority stake in Solar215, a developer of energy storage projects. This acquisition is expected to accelerate Solar215’s growth trajectory by gaining access to BEE’s market expertise, financial capabilities, and industry network.
