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 December alone, we added more than 2,500 new private company transactions, bringing the total to over 16,000 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: 12/30/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Real Assets
- Transaction Value: $6.5B
- Participants: Ørsted, Apollo Global Management, Linklaters, RBC Capital Markets Investment Banking
Ørsted has completed the divestment of a 50% stake in its Hornsea 3 offshore wind project to Apollo-managed funds in a $6.5 billion transaction, creating a 50/50 joint venture in what will be the world’s largest offshore wind farm. Ørsted will retain construction, operations, and route-to-market responsibilities, while Apollo provides long-term equity and financing alongside institutional co-investors.
- Transaction Date: 12/22/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Acquisition/Merger
- Transaction Value: $4.75B
- Participants: Intersect Power, Alphabet Inc
Alphabet has agreed to acquire Intersect for $4.75 billion in cash, plus the assumption of debt, to accelerate the development of U.S. data center and energy infrastructure, building on an existing minority investment by Google. Intersect will continue to operate as a standalone business under its own brand and management while partnering closely with Google, with the transaction expected to close in the first half of 2026.
- Transaction Date: 12/11/2025
- Industry: Electric Utilities
- Type: Strategic / Corporate Acquisition
- Transaction Value: $4.32B
- Participants: Sembcorp Industries Ltd, Chow Tai Fook Enterprises Limited (CTFE), Temasek
Sembcorp Industries has agreed to acquire 100% of Alinta Energy from Chow Tai Fook Enterprises for an enterprise value of A$6.5 billion, giving Sembcorp a leading retail and generation platform in Australia. The acquisition strengthens Sembcorp’s presence in a key developed market and accelerates its renewables growth strategy by adding Alinta’s high-quality dispatchable assets and 10.4GW renewable and firming development pipeline, with completion expected in the first half of 2026 subject to approvals.
- Transaction Date: 12/3/2025
- Industry: Electric Utilities
- Type: Acquisition/Merger
- Transaction Value: $740M
- Participants: ACEA S.p.A., Plenitude S.p.A
Plenitude has agreed to acquire 100% of ACEA Energia and a 50% stake in Umbria Energy from ACEA Group for up to €587 million, plus a potential earn-out of up to €100 million linked to performance targets through mid-2027. The transaction will significantly expand Plenitude’s Italian retail footprint by adding more than 1.4 million customers, while allowing ACEA to redeploy capital toward its core regulated infrastructure and sustainability-focused businesses, with closing expected by June 2026 subject to antitrust approval.
- Transaction Date: 12/1/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Credit
- Transaction Value: $300M
- Participants: KKR
Ecoplexus has closed a $300 million credit facility from capital accounts advised by KKR, with development capital and a letter of credit facility provided by Sumitomo Mitsui Banking Corporation, to accelerate the development of more than 13GW of solar and storage projects across the United States. The facility provides scalable, cost-effective capital to advance projects to construction and support over $2.5 billion of downstream project financing and long-term asset ownership.
- Transaction Date: 12/17/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Real Assets
- Transaction Value: $280M
- Participants: Asterion Industrial Partners, TotalEnergies SE, Clifford Chance LLP
Asterion has acquired a 50% stake in TotalEnergies’ Greek renewables portfolio, comprising 424 MW of operating and under-construction wind and solar assets, in a transaction valuing the portfolio at €508 million. TotalEnergies will retain the remaining 50% and continue operating and marketing the assets, while the investment provides Asterion with a strategic entry into the Greek power market and strengthens its pan-European renewable energy platform.
- Transaction Date: 12/11/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Real Assets
- Transaction Value: $252.5M
- Participants: Stonepeak, Repsol S.A., Vinson & Elkins LLP, Latham & Watkins LLP
Repsol has agreed to sell a 43.8% stake in its 629 MW Outpost solar project in Texas to Stonepeak for $252.5 million, valuing the asset at approximately $775 million including tax equity proceeds from Production Tax Credits. The deal represents Repsol’s second renewable asset rotation in the U.S. and deepens its partnership with Stonepeak, while allowing Repsol to optimize capital and advance its U.S. renewable growth strategy, subject to regulatory approvals.
- Transaction Date: 12/16/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: >$100M
- Participants: JAM Fund, Gigafund, The Haskell Company, Woori Technology Investment Co.,Ltd (WTIC), AE Ventures, Ultranative, Galaxy, Astera Institute
Last Energy has closed an oversubscribed Series C financing of more than $100 million, led by the Astera Institute with participation from a group of strategic and institutional investors, to support the development and commercialization of its advanced micro-modular nuclear technology. The capital will fund completion of the company’s DOE-backed pilot reactor, advance commercialization of its PWR-20 design, and expand manufacturing capabilities as Last Energy positions itself for large-scale deployment in the U.S. and internationally.
- Transaction Date: 12/16/2025
- Industry: Energy Equipment & Industrial Services.
- Type: Acquisition/Merger
- Transaction Value: $72M
- Participants: Flowserve Corporation, Endless LLP, Piper Sandler & Co., Gordons LLP, KPMG
Flowserve Corporation has acquired U.K.-based Greenray Turbine Solutions for approximately $72 million in cash, expanding its aftermarket products and services offering for industrial gas turbines. The acquisition enhances Flowserve’s rotating equipment portfolio, adds an estimated $25 million in annual revenue, and strengthens its ability to serve global power generation customers through its worldwide service network.
- Transaction Date: 12/19/2025
- Industry: Independent Power and Renewable Electricity Producers
- Type: Venture
- Transaction Value: $70M
- Participants: Lowercarbon Capital, Balderton Capital
Fuse Energy closed a $70 million Series B round led by Balderton Capital and Lowercarbon Capital, pushing the London-based company’s valuation to $5 billion. The funding will support international expansion as Fuse looks to scale its integrated approach to disrupting the global energy system.
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.
