Trends in Renewables

Power Moves

🤝 Deals this week

KKR founders Joe Bae and Scott Nuttall

⚡ KKR acquires EDF Power Solutions’ North American operations for USD $4.2 billion

  • KKR has agreed to acquire EDF Power Solutions’ North American business for approximately USD $4.2 billion, marking the firm's largest-ever single investment in renewable energy. The platform ranks among the top ten renewable asset owners in the U.S., with a diversified portfolio of solar, wind, and battery storage projects alongside integrated development, construction, operations, and asset management capabilities across the U.S. and Canada. KKR says the acquisition positions the business to capitalize on rising electricity demand driven by AI data centres, manufacturing reshoring, and broader electrification, while further expanding its renewable energy development pipeline.

⚡ Nuveen Commits USD $546 Million Preferred Equity into SunZia Wind and Transmission Project

  • Nuveen has completed a USD $546 million preferred equity investment in SunZia transmission and wind project through its Energy Infrastructure Credit strategy. SunZia, developed by Pattern Energy, combines a 3,650 MW wind complex with a 550-mile high-voltage transmission line to deliver power from New Mexico to Arizona and Southern California. The investment contributes to nearly USD $1.5 billion in total capital deployed into the project across multiple instruments, underscoring continued institutional appetite for large-scale renewable generation paired with critical grid infrastructure.

🚀 Newcleo targets US SPAC listing to fund next-generation nuclear growth

  • Paris-based nuclear startup Newcleo plans to go public through a merger with a U.S.-listed SPAC, giving the company access to up to USD $429 million in cash to accelerate development of its advanced reactors, which use recycled nuclear waste as fuel. Founded in 2021, Newcleo has already raised USD $780 million in private capital and is part of a broader trend of European deep-tech companies turning to U.S. public markets for growth capital, as stronger investor appetite for sectors like nuclear energy and AI continues to outpace Europe's capital markets.

🚀 Startup Watch

Moment Energy Team

Moment Energy opens world’s largest EV battery repurposing megafactory

  • Vancouver-based Moment Energy has opened the world's largest EV battery repurposing facility in Surrey, B.C converting retired electric vehicle batteries into battery energy storage systems (BESS) for data centres, hospitals, microgrids, and industrial customers. Founded in 2019, the company has now raised over USD $100 million, secured battery supply partnerships with Nissan North America and Mercedes-Benz Energy, and expects the new facility to produce 1 GWh of energy storage systems annually by 2030 while creating more than 100 direct jobs.

Joulent secures USD $1.75 Billion strategic investment from National Grid

  • Joulent, a U.S. energy infrastructure startup developing multi-gigawatt power solutions for AI data centres and advanced industry, has secured a USD $1.75 billion strategic minority investment from National Grid Ventures. The funding will accelerate the company's project pipeline, including its first 2.67 GW project supplying a Microsoft-operated data centre campus under a 20-year power purchase agreement. Joulent's "Across-the-Meter™" model combines on-site generation, storage, and grid integration to deliver reliable power at scale while reducing strain on existing electricity networks.

🏛️ Policy Watch

🇪🇺 EU Awards EUR € 2.5 Billion for Clean Energy Projects Across 11 Member States

  • The European Commission and the European Investment Bank have allocated EUR € 2.5 billion through the EU Modernization Fund to support 51 clean energy projects across 11 member states. Funded by revenues from the EU Emissions Trading System, the investment will finance renewable energy, grid modernization, battery storage, energy efficiency, clean transport, and industrial decarbonization initiatives. The latest allocation brings total disbursements under the fund to EUR € 23.2 billion since 2021, reinforcing the EU’s continued commitment to accelerating energy transition infrastructure across the regions. 

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