Renewables M&A in Europe: Guascor acquires Enertech

As we approach the final months of 2026, year-end assessments are beginning to emerge.

Sidley´s European Real Assets Update notes that M&A activity in Europe remains resilient in sectors underpinned by long-term structural trends, with particular interest in the energy transition, storage, and power grids. 

The report highlights that, despite geopolitical uncertainty, higher financing costs, and energy price pressures, these assets continue to attract capital due to their role in energy security and the growing demand for electricity.

Looking toward the close of 2026, Sidley observes a landscape of caution, yet anticipates increased M&A and financing activity within these segments.

Separately, our thanks to PV Magazine for publishing our analysis of the new deals announced during August in the renewable energy sector in Spain and Portugal.

And in other news this week:

• Kelag International, part of Austrian energy provider Kelag Group, announced the acquisition of a 64.4-MWp portfolio of solar projects in Italy, some of them shovel-ready.
• German renewables developer ABO Energy KGaA has sold two wind projects totalling 33 MW in Germany to a compatriot.
• Iberdrola is planning to bring in an institutional partner to acquire up to 49% of the East Anglia Two offshore wind project.

Want more insight? Connect with me on LinkedIn to stay on top of Europe’s latest moves.

---

---

Have you ever been surprised by a huge VDR bill?

One M&A advisor told us they recently received a €90,000 invoice from his virtual data room provider, nearly four times the original quote. We suspect he’s not alone.

We’re surveying dealmakers across the M&A Community to find out how common hidden VDR costs really are. Share your experience in just two minutes. 

As a thank you, everyone who takes part will be entered into a prize draw for a $150 Amazon voucher. All responses are confidential.

[Take the survey]

---

Weekly summary | From September 18-24, 2026

The tracker logged 19 energy deals across Europe this week, spanning solar, wind, BESS, biomethane, anaerobic digestion, distributed energy, and energy technology.

Solar and renewable generation remained active, with KELAG acquiring a portfolio of eight agrivoltaic projects totaling 64.4 MWp in Italy, while ABO Energy sold 33 MW of German wind projects to Blue Elephant. 

In Italy, LEA Renergy acquired inverter manufacturer Enertronica Santerno, expanding activity beyond project-level transactions into energy technology.

Battery storage was another key theme. Taaleri Energia and KJK Capital acquired a stake in Estonia’s Raudsepa BESS, while Mirova invested EURm 65 in Nordic battery storage developed by Ingrid Capacity. In Greece, AKTOR Renewables agreed to acquire a 51% stake in a hybrid portfolio from DEPA, combining renewable generation and storage.

Bioenergy and biomethane also featured prominently. VORN Bioenergy, backed by Macquarie, acquired Italian biomethane platform Enerfarm from Equitix, while Pinta Energy acquired Generate Upcycle’s seven UK anaerobic digestion facilities from Generate Capital.

The week also included Guascor Energy’s acquisition of Enertech in Spain, CUBOS’s acquisition of SCAPO in Germany, and Stonepeak’s investment in AMPYR Distributed Energy, highlighting continued consolidation across the broader European energy transition market. Guascor itself confirms that the Enertech acquisition was completed.

---