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 September alone, Dakota Marketplace added more than 2,000 new private company transactions, bringing the total to over 5,000 searchable deals across sectors, industries, and transaction types.
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. TenneT Germany - Strategic Acquisition
- Transaction Date: 9/24/2025
- Industry: Electrical Utilities
- Type: Strategic Equity Partnership
- Transaction Value: $11.17B
- Participants: "Norges Bank Investment Management, GIC, APG Asset Management, ABN AMRO Bank N.V., Lazard Investment Banking, De Brauw, Hengeler Mueller, RBC Capital Markets Investment Banking, Clifford Chance LLP
TenneT Holding has secured up to €9.5 billion in equity funding for TenneT Germany from APG, GIC, and Norges Bank Investment Management, in one of Europe’s largest energy infrastructure deals. The strategic partnership positions TenneT Germany to lead the continent’s energy transition, with a robust capital structure supporting its €40 billion enterprise value and long-term grid expansion plans.
2. Four natural gas power generation facilities in Texas - Energy
- Transaction Date: 9/24/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Real Assets
- Transaction Value: $1.387B
- Participants: CPS Energy, PROENERGY, J.P. Morgan Investment Bank, Dykema Gossett PLLC, CIBC Capital Markets, Latham & Watkins
CPS Energy has closed its $1.387 billion acquisition of four natural gas power plants from PROENERGY, adding 1,632 MW of dual-fuel capacity to its generation portfolio in Southeast Texas. The newly acquired assets enhance grid reliability in the ERCOT market and align with CPS Energy’s long-term strategy to deliver cleaner, cost-effective energy with future potential for hydrogen integration.
3. 1.4 GW solar portfolio in North America - Energy
- Transaction Date: 9/29/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Real Assets
- Transaction Value: $950M
- Participants: KKR, TotalEnergies
TotalEnergies has sold a 50% stake in its 1.4 GW North American solar portfolio to KKR-managed insurance vehicles, valuing the portfolio at $1.25 billion and securing $950 million in proceeds. The deal covers six utility-scale and 41 distributed generation projects, with TotalEnergies retaining operational control and further advancing its strategy of unlocking value from de-risked renewable assets.
4. Indaqua - Direct Lending
- Transaction Date: 9/11/2025
- Industry: Water Utilities
- Type: Credit
- Transaction Value: $419M
- Participants: Schroders Capital, Banco Santander, S.A.
INDAQUA has secured €358 million in new financing from Schroders Capital and Santander, strengthening its capital structure and supporting continued expansion across Iberia. The funding follows strong growth in Portugal and Spain, and reinforces INDAQUA’s leadership in sustainable water management and operational efficiency.
5. Nexamp - Direct Lending
- Transaction Date: 9/16/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Credit
- Transaction Value: $350M
- Participants: Macquarie Asset Management
Macquarie Asset Management has committed $350 million in long-term financing to Nexamp to support the development of its 6 GW pipeline of utility-scale solar and battery storage projects across the U.S. The investment equips Nexamp to rapidly expand its clean energy footprint and meet rising electricity demand with scalable, sustainable solutions.
6. Torus - Not Disclosed
- Transaction Date: 9/9/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Growth Capital
- Transaction Value: $200M
- Participants: Magnetar Financial LLC
Torus has secured a $200 million investment from Magnetar to accelerate the deployment of its modular, hybrid energy systems that combine flywheel and battery technologies for utilities, data centers, and industrial users. The funding supports Torus’ expansion, including its upcoming GigaOne facility, and positions the company to scale its distributed utility platform amid rising energy demands from AI and electrification.
7. Hydrostor - Direct Lending
- Transaction Date: 9/16/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Credit
- Transaction Value: $55M
- Participants: Export Development Canada (EDC)
Hydrostor has secured $55 million in development financing from Export Development Canada to advance its 200 MW Silver City Energy Storage Centre in New South Wales, Australia. The funding supports the buildout of Hydrostor’s advanced compressed air energy storage (A-CAES) technology, positioning it as a key solution for long-duration, zero-emission energy reliability worldwide.
8. Lithium de France - Series B
- Transaction Date: 9/22/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $46.97M
- Participants: Arverne Group, Equinor Ventures
Arverne Group and Equinor Ventures have invested €40 million in a Series B2 round for Lithium de France, advancing the company into its pre-industrial phase with drilling and a Direct Lithium Extraction demo plant. Post-transaction, Arverne holds 64.58% and Equinor Ventures 24.40%, marking a key milestone in France’s push toward domestic lithium production.
9. Rodatherm - Series A
- Transaction Date: 9/15/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $38M
- Participants: TDK Ventures
TDK Ventures has invested in Rodatherm’s $38 million Series A round to accelerate deployment of its advanced closed-loop geothermal system, targeting sustainable, baseload energy in the Western U.S. The funding will support construction of Rodatherm’s first pilot plant in Utah, leveraging its patented technology to deliver efficient, long-duration clean power at scale.
10. Oxccu - Series B
- Transaction Date: 9/29/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $28M
- Participants: Hostplus, Clean Energy Ventures, Aramco Ventures, ENI Next, University of Oxford, Orlen VC, International Airlines Group (IAG), Kiko Ventures, Safran Corporate Ventures, Braavos Capital, TCVC
OXCCU has raised $28 million in an oversubscribed Series B round led by International Airlines Group (IAG), Safran Corporate Ventures, and Orlen VC to scale its one-step process for converting waste carbon into sustainable aviation fuel (SAF). The funding supports the expansion of OXCCU’s operations and technology as it advances its mission to lower SAF production costs and accelerate aviation’s path to net-zero emissions.
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.
