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M&A Deal Summary

CleanCapital Acquires EDF Renewable - Massachusetts Solar Assets

On November 18, 2021, private equity firm CleanCapital acquired renewable energy company EDF Renewable - Massachusetts Solar Assets from EDF Renewable Energy

Acquisition Highlights
  • This is CleanCapital’s 8th transaction in the Renewable Energy sector.
  • This is CleanCapital’s 7th transaction in the United States.
  • This is CleanCapital’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2021-11-18
Target EDF Renewable - Massachusetts Solar Assets
Sector Renewable Energy
Buyer(s) CleanCapital
Sellers(s) EDF Renewable Energy
Deal Type Divestiture

Target

EDF Renewable - Massachusetts Solar Assets

Massachusetts, United States
EDF Renewables two operating solar projects totaling 11.9 megawatts (MW), were built in 2014 and supply clean energy to the Town of Billerica and the Town of Wareham; both municipalities are in Massachusetts.

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Buyer(S) 1

Buyer

CleanCapital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

CleanCapital is a private investment firm focused on direct investment opportunities in clean energy generation and storage. CleanCapital was established in 2015 and is headquartered in New York City.

DEAL STATS #
Overall 8 of 10
Sector: Renewable Energy M&A 8 of 9
Type: Divestiture M&A Deals 6 of 7
State: Massachusetts M&A 2 of 2
Country: United States M&A 7 of 8
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Borrego Solar

San Diego, California, United States

Borrego Solar is a privately-owned developer, designer, installer, and O&M provider of commercial and utility-scale solar and energy storage projects. Borrego Solar was formed in 1980 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 BQ Energy

Wappinger Falls, New York, United States

BQ Energy is an operator of a brownfield renewable energy development company that develops renewable energy projects on landfill and brownfield sites. BQ Energy was founded in 2002 and is based in Wappinger Falls, New York.

Buy -

Seller(S) 1

SELLER

EDF Renewable Energy

San Diego, California, United States
Category Company
Founded 1987
Sector Energy Services and Equipment
DESCRIPTION

EDF Renewable Energy is one of the renewable energy players in the U.S. market and owns more than 1,400 MW of renewable power generation assets and more than 6,000MW of O&M service contracts through its affiliate company, EDF Renewable Services.

DEAL STATS #
Overall 8 of 9
Sector: Renewable Energy M&A 7 of 8
Type: Divestiture M&A Deals 7 of 8
State: Massachusetts M&A 1 of 1
Country: United States M&A 8 of 9
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-03 PowerFlex Systems

Los Altos, California, United States

PowerFlex Systems, Inc. is a provider of managed electric vehicle (EV) charging technology. PowerFlex Systems was founded in 2017 and is based in Los Altos, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 Knox Solar + Storage Project

San Diego, California, United States

Knox Solar + Storage Project is expected to generate approximately 1,872 MWh of clean energy. Knox Solar + Storage Project is based in San Diego, California.

Sell -
Mergr

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