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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-logical-raises-110-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Logical Buildings, a sustainability, smart building, and virtual power plant (VPP) software and solutions provider</strong> <a href="https://mercomcapital.com/logical-buildings-raises-110-million-to-deploy-virtual-power-plants/" target="_blank" rel="noopener">closed</a> a $110 million VPP project facility with Keyframe Capital. The project facility will be used to pursue VPP projects within New York City- and New Jersey-based multifamily residential buildings, providing thousands of operators with reputational and financial incentives to invest in initiatives that will drive energy savings, lower greenhouse gas emissions, and establish new channels for grid services revenue.</p>
<p><strong>A consortium of Brookfield Asset Management and MidOcean Energy, the global LNG platform owned and managed by EIG, has <a href="https://www.mercomindia.com/brookfield-eig-consortium-buy-origin-energy" target="_blank" rel="noopener">agreed</a> to acquire Australia-based integrated power generator and retailer Origin Energy</strong> for A$18.7 billion (~$12.5 billion). As part of its acquisition of Origin Energy&#8217;s Energy Markets segment, Brookfield plans to expedite the development of renewable energy generation capacity. Brookfield has formulated a business plan for Origin Energy Markets that involves investing at least $20 billion over the next ten years to construct up to 14 GW of new renewable generation and storage facilities in Australia.</p>
<p><strong>Birch Creek Energy, a renewable energy company, <a href="https://mercomcapital.com/birch-creek-energy-acquires-foundation-solar-partners/" target="_blank" rel="noopener">announced</a> the acquisition of Foundation Solar Partners, a solar developer from private equity firm Hull Street Energy</strong>, for an undisclosed amount. Foundation Solar has developed and sold over 800 MW of solar projects. It has a pipeline of nearly 5 GW in operation solar and storage projects.</p>
<p><strong>Innova Renewables, a solar and energy storage project developer, <a href="https://mercomcapital.com/innova-renewables-secures-funding-triple-point-energy-transition/" target="_blank" rel="noopener">announced</a> a £5 million (~$6.1 Million) Development Facility with Triple Point Energy Transition</strong>, a specialist investment trust focused on supporting the transition to a low-carbon economy. The new funding will enable Innova to enhance its existing development funding and accelerate the development of its UK renewable pipeline, which includes solar and ESS projects across the country. Innova has previously worked with Triple Point, which provided funding for developing Innova Energy, a ground-mounted solar asset portfolio of 61.5 MW.</p>
<p><strong>Ethical Power Development, a renewable energy developer </strong><strong>and investor, <a href="https://mercomcapital.com/ethical-power-development-acquires-public-power-solutions/" target="_blank" rel="noopener">announced</a> the acquisition of the development business of Public Power Solutions (PPS)</strong>, a wholly owned subsidiary of Swindon Borough Council. The deal includes the transfer of the development team and its current solar/storage project pipeline, which has a combined capacity of more than 250 MW. PPS and Ethical Power have been working together since July 2021, developing large-scale solar PV and battery energy storage system (BESS) co-located projects across the UK.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-beam-global-secures-100-million" target="_blank" rel="noopener">roundup</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Funding and M&A Roundup: Logical Raises $110 Million for Virtual Power Plants


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					</table><p>A consortium of <a href="https://www.brookfield.com/" target="_blank" rel="noopener">Brookfield Asset Management</a> and <a href="https://midoceanenergy.com/" target="_blank" rel="noopener">MidOcean Energy</a>, the global LNG platform owned and managed by EIG, has agreed to acquire Australia-based integrated power generator and retailer <a href="https://www.originenergy.com.au/" target="_blank" rel="noopener">Origin Energy</a> for A$18.7 billion (~$12.5 billion).</p>
<p>As part of its acquisition of Origin Energy&#8217;s Energy Markets segment, Brookfield plans to expedite the development of renewable energy generation capacity. Brookfield has formulated a business plan for Origin Energy Markets that involves investing at least $20 billion over the next ten years to construct up to 14 GW of new renewable generation and storage facilities in Australia.</p>
<p>This is expected to enable the retirement of one of Australia&#8217;s largest coal-fired power generation plants.</p>
<p>The consortium has entered a binding deed with Origin Energy and agreed to purchase the company for A$8.9 (~$6) per share.</p>
<p>After the acquisition, Origin Energy will be divided into two businesses: Energy Markets and Integrated Gas. Brookfield will own Energy Markets, primarily responsible for power generation and retailing, while MidOcean will own Integrated Gas.</p>
<p>Brookfield will lead the investment with its $15 billion Global Transition Fund and institutional partners GIC of Singapore and Temasek.</p>
<p>Brookfield is pursuing this acquisition through the Brookfield Global Transition Fund I, the largest private fund in the world focused on the transition to net zero.</p>
<p>Brookfield Renewable expects to invest up to $750 million, which will be funded through a mix of corporate debt, up financings of existing hydro assets, and proceeds from asset recycling initiatives.</p>
<p>MidOcean has agreed to on-sell a 2.49% interest in the Australia Pacific LNG project (APLNG) to ConocoPhillips, already a 47.5% owner in APLNG. ConocoPhillips is the current downstream operator and intends to take over the upstream operatorship of APLNG.</p>
<p>EIG is pursuing the acquisition of Origin&#8217;s Integrated Gas business through MidOcean Energy.</p>
<p>Origin Energy Markets&#8217; existing 3.1 GW fleet of gas-fired generation and pumped hydro storage provides reliable capacity at peak periods and when renewable generation is intermittent.</p>
<p>Last June, Brookfield <a href="https://www.mercomindia.com/brookfield-asset-management-raises-15-billion-for-clean-energy" target="_blank" rel="noopener">announced</a> the final institutional close of a $15 billion raise for the Brookfield Global Transition Fund (BGTF), focused on facilitating the global transition to net zero.</p>
<p>Brookfield had <a href="https://mercomindia.com/brookfield-raises-billion-energy-fund/" target="_blank" rel="noopener">raised</a> $7 billion in the initial close of BGTF.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Brookfield, EIG Consortium Seal A$18.7 Billion Deal to Buy Origin Energy

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