Renewables M&A in Europe: Sungrow acquires 177-MW BESS portfolio

As European energy markets move into the final quarter of 2026, M&A activity continues to span both established renewable assets and the infrastructure supporting the energy transition.

This week’s transactions show particularly strong activity in battery storage, solar and wind, alongside moves in energy retail, grid infrastructure and conventional energy.

Wood Mackenzie projects that Europe’s power sector will surpass 80% zero-carbon generation by 2030, although the EU27 is expected to fall short of its renewable-energy targets. At the same time, electricity demand across 35 European markets is projected to rise 66% by 2050, driven by electrification, EVs and hydrogen. 

Battery storage is expected to more than triple from 47 GW to 163 GW by 2030, while grid investment and interconnections will become increasingly critical as renewable capacity expands.

Deal of the Week: Sungrow has acquired a 177 MW battery energy storage portfolio from Greenfield in Italy, further strengthening its position in Europe’s rapidly expanding BESS market. The transaction adds a significant portfolio of storage assets in one of the region’s key markets for battery deployment.

And in other news this week:

• Plenitude has announced the completion of its shareholder restructuring, following agreements signed by its shareholders Eni, Ares Management Alternative Credit Funds (Ares), and Energy Infrastructure Partners (EIP).
• UK power company Octopus Energy has acquired three operating solar farms in Ireland with a combined capacity of 43 MW, adding new assets to the portfolio of its generation arm.
• FlexyGrid focuses on developing a platform to monetize energy flexibility and on raising EUR 750,000 in a seed funding round.

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

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Weekly summary | From September 25 – October 1, 2026

The tracker logged 18 energy deals across Europe this week, with activity spanning solar, wind, BESS, energy retail, oil & gas, grid infrastructure and energy services.

Solar remained one of the most active segments, with Octopus, Elgin, Zenith, RP Global, Forsa Energy and Alight adding projects across Ireland, Italy, Germany, the UK and Sweden. Elgin acquired a 200-MW late-stage solar project in Ireland, while Alight added a 2-GW solar development portfolio in Sweden.

Battery storage also featured prominently, with Enlight acquiring a 500-MWh project in Finland, ZE Energy adding a 1-GWh BESS project in Italy, and Sungrow acquiring a 177-MW BESS portfolio from Greenfield in Italy.

Wind activity included Lirion Power’s acquisition of a 77-MW Irish portfolio from GIP and AIP Management’s acquisition of two Swedish wind farms totaling 312 MW. The week also saw significant energy retail activity, with Iberdrola agreeing to acquire Contigo Energia’s power retail business in Spain and the UK competition regulator approving E.ON UK’s acquisition of OVO Energy.

Beyond renewables, the tracker included Ludoil Capital’s acquisition of the ISAB refinery, Eaton’s agreement to acquire COL Group, MET Group’s majority stake in Zephiros Energy Trading SA, and Algebris’ acquisition of Vector Renewables from Nadara.

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