TotalEnergies SE reached an agreement to sell a 50% stake in a 1.4GW North American solar portfolio to insurance vehicles and accounts managed by US private equity firm KKR. The portfolio is valued at $1.25 billion, with TotalEnergies expected to receive $950 million at closing, including proceeds from bank refinancing currently being finalized. The transaction covers six utility-scale photovoltaic farms totaling 1.3GW and 41 distributed generation assets with a combined capacity of 140MW, primarily in the US. Electricity output from the plants is either sold to third parties or will be marketed by TotalEnergies
Spanish independent power producer Velto Renewables is set to acquire 260MW of solar farms across Spain through two separate transactions with local partners. The company has agreed to purchase 163MW of regulated solar assets from Helia II, a renewable energy investment vehicle established by Bankinter and Madrid-based fund manager Plenium Partners. In a parallel transaction, Velto will acquire a 97MW solar photovoltaic portfolio from Plenium Partners. The combined enterprise value of the transactions is estimated at approximately €1.1 billion. The deals encompass 53 operational solar farms across multiple Spanish regions, with a total annual generation exceeding 360GWh
Brazilian metals and mining company Vale SA completed the sale of a 70% stake in power producer Alianca Geracao de Energia to Global Infrastructure Partners (GIP), receiving approximately $1 billion in cash. Alianca Energia, now structured as a GIP-Vale joint venture, sees Vale retaining a 30% stake. The company will fully consolidate the 766MWp Sol do Cerrado solar complex and the Risoleta Neves hydropower plant in Minas Gerais, along with six additional hydropower plants in the state and three wind farms in Rio Grande do Norte and Ceara
Financing Deals
ODATA secured $1.02 billion in green financing to develop renewably powered data centers across Latin America. The transaction, described as the largest of its kind for data centers in the region, was arranged by a syndicate of banks including Apterra, BNP Paribas, Crédit Agricole CIB, Deutsche Bank, MUFG Bank, Natixis Corporate and Investment Banking, Nomura, Société Générale, and SMBC. This financing, which increases the company’s total capital raised to $2.25 billion, will support ODATA’s expansion in key markets such as Brazil, Mexico, Chile, and Colombia
US clean energy developer Madison Energy Infrastructure secured $800 million in debt financing to support the expansion of its portfolio and achieve 1GW of operating capacity. The construction-to-term facility, provided by a consortium of existing and new lenders—including Fifth Third Bank, Société Générale, BNP Paribas, KeyBank, Crédit Agricole, TD Bank, Lloyd’s, and Natixis—will enable the EQT Infrastructure portfolio company to accelerate large-scale clean energy deployment
Colorado-based Flatiron Energy closed a $540 million financing package to support its 200MW Taft Battery Energy Storage System project in Massachusetts. The funding includes construction loans, term loans, bridge loans, and letters of credit from a consortium of lenders coordinated by First Citizens Bank and Nord/LB. In addition, the deal features a preferred equity investment from funds managed by a leading global credit asset manager, alongside a forward commitment from a Fortune 500 company to acquire a portion of the project’s Investment Tax Credits. The capital will fund construction and operation of the Taft facility, located in Uxbridge, Worcester County, which is scheduled to begin commercial operations in late 2026
Fund Raisings
Macquarie Asset Management closed its first dedicated energy transition fund, the Macquarie Green Energy Transition Solutions (MGETS) fund, with over $3 billion in total fund and co-investment commitments, exceeding its $2 billion target. MGETS focuses on investments beyond mature renewables, targeting sectors such as energy storage, distributed energy, renewable fuels, clean transportation, carbon capture, and circular economy solutions. The fund has raised $2.4 billion in commitments and $647 million in co-investments, including $405 million for a Macquarie-managed vehicle supporting Indian fleet electrification platform Vertelo, of which $133 million was contributed by MGETS.million was contributed by MGETS
