VSB GROUP acquired by TOTALENERGIES

Ballard Power Systems has entered into a definitive agreement to acquire GeoPura, a UK-based specialist in hydrogen energy solutions. This transaction marks a significant transformation of Ballard's business model, evolving from a fuel cell technology provider to a fully integrated player covering the entire hydrogen energy value chain. The strategic rationale is based on the strong complementarity between the two companies. Ballard's fuel cell technologies already power GeoPura's electric generation units, with the two companies having collaborated for several years

Euronext Oslo-listed energy services provider Otovo ASA has executed a non-binding letter of intent to acquire 100% of the U.S.-based solar operations and maintenance firm SunSystem Technology, LLC (SST). Subject to satisfactory due diligence completion and definitive agreement executions, this cross-border buyout marks Otovo's seventh accretive M&A transaction completed since December 2025. For the acquirer, the transaction expands Otovo's geographic footprint in the United States by establishing a coast-to-coast asset management and service platform

TotalEnergies has entered into an agreement with EPH to acquire a 50% stake in a European portfolio of power generation assets, as part of a joint venture owned equally by both groups, which will be responsible for the industrial management and development of these assets. Beyond the capital structuring of the transaction, this deal aligns with TotalEnergies' Integrated Power strategy, aimed at increasing the group's exposure to electricity in Europe and developing synergies between its gas and power generation activities

Ares Alternative Credit Management has entered into an agreement to acquire a 20% stake in Plenitude through an investment of approximately €2 billion, becoming the company’s second minority shareholder alongside Energy Infrastructure Partners. The transaction supports the diversification of the company’s ownership structure while providing additional resources to expand its activities across renewable power generation, energy retail and electric vehicle charging infrastructure. The investment is underpinned by long-term structural demand for energy infrastructure and the continued shift toward low-carbon energy systems

Ardian acquired approximately 97% of Akuo for an equity value of approximately EUR1 billion, enabling the exit of ICG (Intermediate Capital Group), which had provided EUR650 million in non-dilutive financing in 2022. The deal followed two years of complex negotiations where initial bids from KKR, Antin, and InfraVia failed to meet the founders' expectations. Ardian secured the deal by offering value-sharing mechanisms and earn-outs, ensuring the founders remain involved as minority shareholders and operational leaders

Brookfield Renewable Holdings announced the successful completion of a mandatory tender offer for all outstanding shares and convertible bonds of Neoen. The offer, launched in February 2025, resulted in Brookfield and its concert parties acquiring approximately 97.7% of Neoen’s share capital and the vast majority of its 2022 convertible instruments, thereby satisfying the conditions for a compulsory squeeze‑out. The transaction follows Brookfield’s earlier strategic intent, expressed in early 2025, to secure a controlling position in a leading independent renewable‑energy producer with a diversified portfolio spanning solar, on‑shore wind and utility‑scale battery storage across four continents

KKR announced a definitive tender offer to acquire control of Greenvolt – Energias Renováveis, S.A., a Portuguese independent power producer specializing in solar and wind assets. The bid represented KKR’s most recent foray into the European renewable sector, following a period of heightened investor interest in decarbonisation infrastructure. Greenvolt, founded in the early 2010s, has assembled a diversified portfolio of generation facilities across the Iberian Peninsula and has secured multiple power purchase agreements that underpin its cash‑flow stability

Masdar concluded the acquisition of Terna Energy, the pre‑eminent Greek renewable‑energy developer and operator. The deal, first disclosed in June 2024, culminated after a rigorous regulatory review by the European Commission and the Hellenic Energy Authority, confirming compliance with competition and foreign‑investment statutes. Terna Energy’s asset base comprises operating wind farms, utility‑scale solar installations, and hydroelectric facilities, complemented by a robust pipeline of development projects spanning the Aegean, the Balkans and the broader Mediterranean region

PPC Group has finalized a strategic agreement to acquire an extensive energy portfolio from the Copelouzos and Samaras groups, a maneuver designed to fundamentally accelerate the group’s renewable transition. The strategic rationale for this transaction centers on a "portfolio-enhancement" play, merging the target's industry-leading technical operational depth in wind and solar generation with the group’s vast integrated utility infrastructure. This fusion effectively creates a specialized powerhouse in the Greek energy arena, providing the organization with the scientific talent and high-performance hardware required to address the increasing demand for decarbonized power and grid stability

KKR disclosed the launch of a voluntary public takeover bid for Encavis AG, a leading independent operator of renewable‑energy assets in Europe. The proposal, structured as a cash‑only offer, rapidly achieved the statutory minimum acceptance threshold, prompting the formal conclusion of the transaction. The bid followed an earlier investment agreement signed in early 2024, under which KKR and a strategic co‑investor, Viessmann, committed to jointly accelerate Encavis’ growth trajectory and to provide a disciplined capital framework for future acquisitions