NextEra Energy and Dominion Energy have filed regulatory applications to advance their proposed USD $420 billion all-stock merger, a deal that would create one of the largest utility companies in North America. The combined company would own or operate more than 110 GW of generation capacity across renewables, battery storage, nuclear and natural gas, while adding Dominion’s 2.6 GW Coastal Virginia Offshore Wind project. The deal highlights a broader wave of utility consolidation driven by rising electricity demand from AI data centers, with U.S. power and utility M&A reaching USD $216 billion in the six months ending May 2026, up 173% year-over-year. The transaction is expected to close in the second half of 2027, subject to shareholder and regulatory approvals.

Frontier Power USA has selected the 100 MW/ 400 MWh Wildfire battery storage project in Texas from Bimergen Energy for potential acquisition, expanding its closed or selected portfolio to roughly 1.8 GWh. The ERCOT project is expected to deploy Eos Energy’s zinc-based Z3 long-duration batteries, subject to the completion of Eos’ rights offering and final transaction agreements. The deal marks another step in Frontier Power USA’s strategy to build a 2 GWh long-duration storage platform backed by Cerberus Capital Management, with KKR Capital Markets supporting long-term project financing.

Google has signed an agreement with Cypress Creek Energy to invest in and purchase power from the 2.5 GW / 2.9 GWh Steel River Energy Center in Arkansas, expected to become the largest solar and battery storage project in the United States. Google will serve as the anchor investor and offtaker for the first two phases of the project, which is scheduled for completion in 2029 and will support growing electricity demand from artificial intelligence infrastructure. The deal reflects a broader trend of technology companies securing long-term power supplies and investing directly in energy infrastructure to support the rapid expansion of AI-driven electricity demand. 

Shell has agreed to sell its India-based renewable energy platform, Sprng Energy, to Aditya Birla Renewables for USD $1.8 billion. The deal includes Sprng’s 5 GW portfolio of operational and contracted solar and wind assets and marks another step in Shell’s strategy to streamline its power business. Backed by BlackRock-owned Global Infrastructure Partners, Aditya Birla plans to expand the combined platform to 20 GW in the coming years, with the transaction expected to close before the end of 2026.

Canadian fusion startup General Fusion has completed its SPAC merger with Spring Valley Acquisition Corp. III and began trading on the Nasdaq on Monday, July 13, 2026, becoming the first publicly listed fusion company. The transaction valued the company at an enterprise value of USD $724 million and provided access to up to USD $338 million in potential capital. Backed by investors including Amazon founder Jeff Bezos, the company is developing a magnetized target fusion system and aims to demonstrate a commercial fusion plant by the mid-2030s. The listing provides General Fusion access to public capital markets as fusion startups compete for funding to scale next-generation energy technologies.

Australian-founded energy software startup Gridcog has raised USD $10 million in a Series A round led by ABB Electrification Ventures, with participation from Axpo Ventures, DNV Ventures, VERBUND X Ventures, and existing investors AlbionVC and the Clean Energy Finance Corporation. Gridcog develops energy modelling software used to evaluate renewable, battery storage, electrification, and hybrid energy projects. The company will use the funding to expand its platform and grow its commercial and product teams across Europe, the UK, and Australia

Houston-based geothermal startup Hephae Energy Technology has raised USD $17.8 million in a Series A round co-led by Susquehanna Sustainable Investments and Underground Ventures, with participation from Nabors Industries and several new investors. The company develops ultra-high-temperature drilling and measurement technology designed to unlock deeper, hotter geothermal resources. The funding will support the commercial rollout of its Pandora 210 drilling system and accelerate R&D on next-generation technology capable of operating in temperatures exceeding 300°C.