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 November alone, we added more than 4,000 new private company transactions, bringing the total to over 13,000 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.
1. Portfolio of Flexible Power Generation Assets - Energy
- Transaction Date: 11/17/2025
- Industry: Multi-Utilities
- Type: Real Assets
- Transaction Value: $12.3B
- Participants: TotalEnergies SE, Energetický a průmyslový holding, a.s.
TotalEnergies has agreed to acquire a 50% stake in EPH’s €10.6 billion flexible power generation platform—spanning gas-fired plants, biomass facilities, and battery assets across Western Europe—through the issuance of €5.1 billion in new TotalEnergies shares. The transaction creates a 50/50 joint venture that will manage and develop over 14 GW of flexible generation capacity, immediately enhancing TotalEnergies’ Integrated Power strategy and accelerating cash-flow growth while positioning the company as a leading provider of clean firm power in Europe.
2. Hornsea 3 Offshore Wind Farm - Strategic Acquisition
- Transaction Date: 11/3/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Merger & Acquisition
- Transaction Value: $6.5B
- Participants: Ørsted, Apollo Global Management Inc, Linklaters, RBC Capital Markets Investment Banking
Apollo-managed funds are investing $6.5 billion for a 50% stake in Ørsted’s Hornsea 3, the world’s largest offshore wind project, and will fund half of the remaining construction costs as the development progresses. The partnership creates a 50/50 joint venture in which Ørsted will continue to build and operate the 2.9 GW wind farm, which will supply renewable power to more than 3 million UK homes, marking a major step in Apollo’s growing commitment to large-scale energy-transition infrastructure.
3. Tilt Renewables - Strategic Acquisition
- Transaction Date: 11/10/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Merger & Acquisition
- Transaction Value: $488M
- Participants: Herbert Smith Freehills Kramer, QIC, Future Fund, AGL Energy Limited, Allens
AGL Energy has agreed to sell a 19.9% stake in Tilt Renewables to QIC and a Future Fund–led consortium for AU$750 million, freeing up capital to accelerate its battery storage rollout and broader firming capacity strategy. While retaining a significant interest in Tilt, AGL has also expanded long-term offtake agreements that enhance its renewable energy portfolio, positioning the company to meet its 6GW new-build target by FY30. The transaction, which values AGL’s stake at a substantial premium, underscores its commitment to capital recycling and large-scale storage investment as Australia’s energy transition advances.
4. Valar - Not Disclosed
- Transaction Date: 11/10/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $130M
- Participants: Snowpoint Ventures, Day one ventures, Dream Ventures
Valar Atomics, an advanced nuclear startup currently suing the U.S. Nuclear Regulatory Commission over its licensing process, has raised $130 million in new funding backed by Anduril founder Palmer Luckey and Palantir CTO Shyam Sankar. The round, led by Snowpoint Ventures, Day One Ventures, and Dream Ventures, supports Valar’s development of high-temperature, helium-cooled reactors and its participation in a federal pilot program aiming to deploy advanced test reactors by 2026.
5. Infravision - Series B
- Transaction Date: 11/3/2025
- Industry: Electric Utilities
- Type: Venture
- Transaction Value: $91M
- Participants: GIC, Activate Capital, Hitachi Ventures, Energy Impact Partners
Infravision, a developer of aerial robotics used to build and maintain power grids, has raised $91 million in a Series B round led by GIC with participation from Activate Capital, Hitachi Ventures, and Energy Impact Partners. The funding will accelerate global deployment of the company’s TX System—a drone-enabled, automated alternative to traditional power line stringing—supporting faster, safer, and lower-cost transmission buildout as Infravision expands across North America.
6. Amperesand - Series A
- Transaction Date: 11/18/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $80M
- Participants: Walden Catalyst Ventures, Temasek, Industry Ventures, Xora Innovation, Material Impact, TDK Ventures, Foothill Ventures, Acclimate Ventures
Amperesand has closed an $80 million Series A round co-led by Walden Catalyst Ventures and Temasek to accelerate deployment of its medium-voltage solid-state transformer (MV SST) platform for AI data centers and other critical power applications. The funding will support delivery of 30 MW of commercial systems in 2026 and expand engineering and manufacturing in the U.S. and Singapore, as hyperscale customers seek faster, more efficient, and more reliable power infrastructure. The company’s ultra-compact, semiconductor-enabled MV SST technology aims to eliminate major grid and power-delivery bottlenecks as global electricity demand surges.
7. Candi Solar - Direct Lending
- Transaction Date: 11/28/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Credit
- Transaction Value: $58.5M
- Participants: International Finance Corporation
Candi Solar has raised $58.5 million in debt financing led by the International Finance Corporation to expand its distributed solar portfolio beyond 400 MWp across India and South Africa. The capital will fund nearly 200 MWp of new clean-energy projects and support the growth of Candi’s performance-linked solutions, including storage, further strengthening its role in delivering reliable and affordable power to commercial and industrial customers. This round builds on the company’s rapid expansion and its $24 million Series C raised earlier in 2025.
8. Exowatt - Series A
- Transaction Date: 11/13/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $50M
- Participants: Felicis Ventures, MVP Ventures, 8090 Industries, Florida Opportunity Fund, DeepWork Capital, Dragon Global, Massive Capital, New Atlas Capital, BAM Ventures, Overmatch Ventures, Protagonist Management LLC, StepStone Global, Atomic, Bay Bridge Ventures
Trust Capital Advisors has acquired the 41,110sqm office building at 750 Collins Street, Melbourne from GPT’s Wholesale Office Fund for A$383m, with the property currently leased to Monash College for around 10 more years. The divestment aligns with GWOF’s strategy to recycle capital and rebalance its A$8.4bn portfolio, while the purchase underscores TCA’s long-term confidence in the Australian commercial real estate market.
9. Flocean AS - Series A
- Transaction Date: 11/18/2025
- Industry: Water Utilities
- Type: Venture
- Transaction Value: $22.5M
- Participants: Wellers Impact, Xylem Inc, Burnt Island Ventures, Freebird Capital, Katapult Group AS, Nysnø Climate Investments, Rypples
Flocean has expanded its Series A round to $22.5 million with the addition of global water technology leader Xylem as a strategic investor, joining existing and new backers to help scale the company’s subsea desalination platform. The funding will support the 2026 launch of Flocean One—the world’s first commercial subsea desalination plant—and advance large-scale projects across multiple regions, leveraging a low-cost, low-energy, chemical-free approach that fundamentally redefines desalination economics. The investment strengthens Flocean’s global commercialization efforts as demand for sustainable freshwater solutions accelerates.
10. Quino Energy - Series A
- Transaction Date: 11/10/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $16M
- Participants: Atri Energy Transition
Quino Energy has closed a $10 million Series A round—along with access to an additional $6 million—from Atri Energy Transition to scale manufacturing of its low-cost organic flow battery electrolyte and launch real-world pilot demonstrations. The funding will accelerate commercialization of Quino’s water-based flow batteries, which offer a lower-cost, fire-safe alternative to lithium-ion and vanadium systems and are compatible with existing flow battery hardware and industrial infrastructure. The investment builds on recent state and federal grants and strategic partnerships that position Quino to advance long-duration energy storage deployment globally.
Transactions in Dakota Marketplace
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.
