M&A Deal Summary

ENGIE Acquires BTE Renewables

On June 21, 2023, ENGIE acquired renewable energy company BTE Renewables from Actis Capital for 1.0B USD

Acquisition Highlights
  • This is ENGIE’s 10th transaction in the Renewable Energy sector.
  • This is ENGIE’s largest (disclosed) transaction.
  • This is ENGIE’s 1st transaction in South Africa.

M&A Deal Summary

Date 2023-06-21
Target BTE Renewables
Sector Renewable Energy
Buyer(s) ENGIE
Sellers(s) Actis Capital
Deal Type Add-on Acquisition
Deal Value 1.0B USD

Target

BTE Renewables

Fourways, South Africa
BTE Renewables is a clean and renewable energy company develops, acquires, owns and operates waste to energy, renewable energy, and energy efficiency projects in the sub-utility range of approximately 5-100MW. These include Golden Valley, a 123MW wind project in the Eastern Cape; Excelsior, a 33MW wind project in the Western Cape; Aggeneys, a 46MW solar project in the Northern Cape; Konkoonsies II an 86MW solar project in the Northern Cape and a 4MW biogas facility. BTE Renewables was founded in 2003 and is based in Fourways, South Africa.

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Buyer(S) 1

Buyer

ENGIE

Courbevoie, France

Category Company
Founded 1880
Sector Utilities
Employees97,000
Revenue 82.6B EUR (2023)
DESCRIPTION

ENGIE is a French utility company. ENGIE provides electricity generation and distribution, natural gas and renewable energy. ENGIE was founded in 1880 and is based in Courbevoie, France.


DEAL STATS #
Overall 30 of 31
Sector (Renewable Energy) 10 of 11
Type (Add-on Acquisition) 20 of 21
Country (South Africa) 1 of 1
Year (2023) 2 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-11 ReVolve Renewable Power - Utility Scale Solar and Storage Projects

Dublin, Ireland

ReVolve Renewable Power - Utility Scale Solar and Storage Projects includes 250MW Parker Solar and Storage Project (the "Parker Project") and the 1,000MW Bouse Solar and Storage Project based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-24 Broad Reach Power

Houston, Texas, United States

Broad Reach Power is a utility-scale storage independent power producer (IPP). Broad Reach Power owns a 16-gigawatt portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah, and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. Broad Reach Power was founded in 2019 and is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Actis Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 24.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Actis Capital is a private equity firm focused on investments in emerging markets. Actis segments its investment activity into three areas. These include private equity, energy, and real estate. Actis' private equity team looks for buyout and growth capital opportunities requiring at least $50 million in financing. Depending on the situation, Actis will consider both controlling and minority investment situations. Sectors of interest include financial services, consumer and retail, business services, and industrial. Actis' energy group seeks to invest in in a variety of energy and utility projects. Actis' real estate team invests equity capital in office, residential, industrial, hotel and retail projects. Actis Capital was established in 2004 and is based in London.


DEAL STATS #
Overall 81 of 81
Sector (Renewable Energy) 9 of 9
Type (Add-on Acquisition) 41 of 41
Country (South Africa) 11 of 11
Year (2023) 1 of 1
Size (of disclosed) 3 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Atlas Renewable Energy

Miami, Florida, United States

Atlas Renewable Energy is an operating renewable energy company that develops, builds and operates solar and wind projects with robust returns across Latin America. Atlas Renewable Energy was founded in 2017 and is based in Miami, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-22 Swiftnet

Centurion, South Africa

Swiftnet is a tower company that owns a portfolio of 6,200 communication towers catering to the telecommunications industry and offers assets (Towers, In-Building coverage Solutions, and Small Cells) to licensed operators to deliver connectivity. Swiftnet is based in Centurion, South Africa.

Buy $355M