1、Renewables&Distributed Energy SECTOR UPDATE I Q2 20231Select Renewables&Distributed Energy M&A TransactionsMarch 28,2023Birch Creek Energy acquires Foundation Solar PartnersBirch Creek Energy,a St.Louis-based renewable energy company,announced the acquisition of Foundation Solar Partners,a Washingto

2、n.DC-based solar developer focused on greenfield origination of solar projects primarily in MISO and PJM markets.Foundation Solar has developed and sold over 800 megawatts of solar projects and has amassed an additional pipeline of nearly 5 gigawatts of solar and storage projects in its first 3 year

3、s of operation.February 24,2023BurTech Acquisition Corp.and CleanBay Renewables announce letter of intent for a business combinationBurTech Acquisition Corp.,a publicly traded special purpose acquisition company,and CleanBay Renewables,a late-stage enviro-tech company focused on the production of su

4、stainable renewable natural gas,green hydrogen and natural controlled-release fertilizer,announced the signing of a letter of intent for a potential business combination.January 18,2023Volta to be acquired by Shell to accelerate decarbonization of the transportation sectorVolta announced the executi

5、on of a definitive merger agreement under which Shell will acquire Volta in an all-cash transaction valued at approximately$169 million.The transaction brings Voltas powerful dual charging and media network to Shells established brandand seeks to unlock robust,long-term growth opportunities in elect

6、ric vehicle charging.March 8,2023Marathon Oil Corp.acquires a 49.9%interest in LF BioenergyMarathon announced the acquisition of a 49.9%interest in LF Bioenergy,an emerging producer of renewable natural gas in the United States,from Cresta Fund Management for$50 million.The agreement includes the po