The latest renewable energy news includes announcements on ENNA Group, Navitas Solar, AES Corporation, CIC Green Energy, and others.
ENNA Group Agrees Acquisition of 166 MW Solar and 612 MWh Battery Project in Romania
Croatian energy and infrastructure company ENNA Group has signed an agreement to acquire a 166 MWp solar project with 612 MWh of battery storage in Romania. Announced October 23, subsidiary ENNA Solar will acquire 100 percent of CIC Green Energy Medgidia, the project company holding development rights. Located in Constanța County, the Medgidia development covers approximately 204 hectares. Construction is scheduled to begin in Q1 2027, with commercial operation targeted for Q1 2028. Annual electricity generation is estimated at 265,932 MWh. The acquisition requires foreign investment screening and competition approvals. ENNA is also developing the 87.52 MWp Mihăilești solar project with 140 MWh of battery storage.
Navitas Solar Secures Up to $20 Million for 2.2 GW Solar Cell Manufacturing Expansion in India
Indian photovoltaic manufacturer Navitas Solar has secured an investment commitment of up to $20 million from Swiss impact investment manager responsAbility. Announced October 22, the financing will support construction of a 2.2 GW solar cell manufacturing facility in Gujarat. Navitas currently operates 2.2 GW of solar module manufacturing capacity and produces solar encapsulation materials. The new facility will strengthen its integration into solar cell production, reducing dependence on imported components. Initial cell manufacturing is targeted for July 2027. Navitas has outlined approximately $1 billion in planned investments over five years across solar manufacturing, battery storage and renewable power generation. Centrum Capital acted as exclusive financial adviser.
Chile Approves $33.4 Billion AES Acquisition by BlackRock and EQT-Led Consortium
Chile’s competition regulator has approved the proposed acquisition of AES Corporation by an investment consortium led by Global Infrastructure Partners and EQT. The approval, announced October 22, relates to a transaction valued at approximately $33.4 billion including debt, with an equity value of $10.7 billion. The buyers are offering $15 per share in cash. Chilean regulators concluded that the acquisition would not substantially reduce competition in electricity generation, transmission, battery storage or related infrastructure markets. AES operates locally through AES Andes. The combined investors’ renewable generation market share in Chile would be approximately 10.7 percent. The transaction remains subject to other applicable approvals and closing conditions.
