For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In March alone, we added more than 1,800 new private company transactions, bringing the total to over 19,000 searchable deals across sectors, industries, and transaction types in Dakota Marketplace.
Inside Dakota Marketplace, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 utilities transactions.
- Transaction Date: 3/2/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Buyout/Private Equity
- Transaction Value: $10.7B
A consortium led by Global Infrastructure Partners (a part of BlackRock) and EQT, with co-underwriters CalPERS and QIA, announced a definitive agreement to acquire AES Corporation for $15.00 per share in cash, representing a total equity value of $10.7 billion and an enterprise value of approximately $33.4 billion including assumed debt — a 40.3% premium to AES's 30-day volume weighted average price prior to deal speculation. The take-private transaction, expected to close in late 2026 or early 2027, provides AES with enhanced financial flexibility to accelerate its clean energy growth strategy across the Americas, addressing a significant capital need that would otherwise have required dividend cuts or substantial equity issuances.
- Transaction Date: 3/18/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Acquisition / Merger
- Transaction Value: $5B
Constellation Energy announced a definitive agreement to sell approximately 4.4 gigawatts of predominantly natural gas-fired generation assets in PJM — including the Bethlehem, York 1, York 2, Hay Road, and Edge Moor facilities in Delaware and Pennsylvania — to LS Power for $5 billion (~$1,142/kW), representing the largest portion of divestitures required by the DOJ and FERC as a condition of Constellation's January 2026 acquisition of Calpine. The transaction is expected to close later in 2026, pending regulatory approvals, and advances Constellation's path to satisfying its remaining antitrust commitments from the Calpine deal.
- Transaction Date: 3/10/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Acquisition / Merger
- Transaction Value: $4.75B
Google (Alphabet) completed the acquisition of Intersect's digital power assets for $4.75 billion in cash plus assumed debt, gaining Intersect's co-located data center and clean energy infrastructure platform — including multiple gigawatts of projects in development or under construction — to accelerate the buildout of data center capacity alongside new power generation. Simultaneously, existing Intersect investors spun off the company's grid-tied clean energy assets into a new independent power producer, IPX Power, majority-backed by TPG Rise Climate, with 4.4 GW of solar and 8.8 GWh of battery storage in construction or operation, bringing the total enterprise value of both transactions to $12 billion.
- Transaction Date: 3/25/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Acquisition/Merger
- Transaction Value: $3.8B
Brookfield (70%) and La Caisse (30%) announced a definitive agreement to acquire Boralex for $37.25 per share in cash, representing a total equity value of approximately $3.8 billion and an enterprise value of approximately $9.0 billion — a 36.4% premium to the 30-day volume weighted average price prior to deal speculation. The take-private transaction provides Boralex with long-term capital and operational support from two strategically aligned infrastructure investors to accelerate development of its 3,800 MW operating renewable portfolio and ~8.2 GW pipeline across Canada, the U.S., France, and the U.K., with closing expected by Q4 2026.
- Transaction Date: 3/3/2026
- Industry: Gas Utilities
- Type: Acquisition/Merger
- Transaction Value: $3.25B
BlackRock sold its remaining 11.4% stake in Spanish energy firm Naturgy for approximately €2.79 billion ($3.25 billion) at €25.20 per share via an accelerated bookbuild managed by J.P. Morgan and Goldman Sachs. The disposal follows BlackRock's earlier sale of a ~7% stake in December 2025 for $2 billion, completing its exit from a position inherited through its 2024 acquisition of Global Infrastructure Partners.
- Transaction Date: 3/17/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Credit
- Transaction Value: $650M
rPlus Energies secured over $650 million in debt facilities plus tax equity financing commitments — led by Santander Corporate & Investment Banking and KeyBanc Capital Markets — to finance construction of the Blacks Creek Energy Center, a 400 MW AC / 520 MW DC solar facility in Ada County, Idaho. The project will deliver solar electricity to Idaho Power's grid, including support for Meta's Kuna, Idaho data center energy commitments, and brings rPlus's total developed capacity in Ada County to nearly 1 GW across operating, under construction, and contracted projects.
- Transaction Date: 3/25/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Credit
- Transaction Value: $600M
Zelestra secured a $600 million green financing credit facility with Societe Generale and HSBC to support construction of two Texas solar projects — Echols Grove (252 MW) and Cedar Range (187 MW) — both backed by long-term power purchase agreements with Meta. The financing represents Zelestra's largest U.S. projects to date and is part of a broader 1.2 GW, seven-project PPA relationship with Meta as Zelestra continues to scale its approximately 15 GW U.S. renewable development portfolio.
- Transaction Date: 3/3/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Real Assets
- Transaction Value: $590M
Allianz Global Investors signed an agreement to acquire a 50% stake in a portfolio of 11 battery storage projects totaling 789 MW / 1,628 MWh from TotalEnergies for approximately €500 million (70% debt-financed), marking Allianz's first direct equity commitment to a battery storage portfolio. The 11 projects, developed by TotalEnergies subsidiary Kyon Energy and located across Germany with full operability expected by 2028, will remain operated by TotalEnergies and are designed to reduce grid congestion and support Germany's growing renewable energy capacity.
- Transaction Date: 3/31/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $300M
EnerVenue raised $300 million in a Series B+ round led by Full Vision Capital — the family office of Hong Kong tycoon Peter Lee Ka-kit — to scale manufacturing, advance R&D, and expand global commercial reach for its nickel-hydrogen battery technology, which targets grid-scale energy storage applications across solar, wind, EV charging, and power grid markets. The raise also includes backing from the government-backed Hong Kong Investment Corporation and coincides with EnerVenue establishing a regional headquarters in Hong Kong to anchor its Asia-Pacific expansion.
- Transaction Date: 3/23/2026
- Industry: Independent Power and Renewable Electricity Producers
- Type: Growth Equity
- Transaction Value: $255M
ArtIn Energy secured a $255 million strategic investment from Agila Investments at a $14.58 billion valuation, with proceeds earmarked for late-stage development of its U.S. utility-scale solar, battery storage, and green fuel portfolio — anchored by a ~$1.4 billion CAPEX Texas project and a ~$2.6 billion CAPEX Nebraska project, both backed by long-term investment-grade offtake agreements. The milestone-based funding structure introduces institutional governance oversight and advances ArtIn toward construction financing across its large-scale renewable infrastructure pipeline.
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
