Germany-based Encavis AG has secured all regulatory approvals for its voluntary public takeover offer for Stern Energy, an O&M specialist for PV plants. The offer, launched on September 1, 2024, has received clearance from the European Commission under merger control rules and approvals from competition and foreign trade authorities. According to Encavis, this acquisition strengthens its solar energy operations and maintenance expertise, aligning with its renewable energy growth strategy. Shareholders, including global investment firm KKR and financial services company Abacon Capital, support the transaction. The acceptance period ends on October 30, 2024. Encavis emphasizes this move as critical to scaling its renewable energy portfolio and contributing to Europe’s clean energy transition while maintaining regulatory compliance.
Encavis to acquire Stern Energy after completed regulatory clearance
The European Commission and regulatory authorities have approved Encavis’ acquisition under competition and trade laws. (Image Source: Encavis AG)
TotalEnergies suspends future financial contributions while awaiting further clarity on the allegations. (Image Source: TotalEnergies)
TOYO will utilize facilities in Vietnam and Ethiopia to deliver premium solar cell solutions to India and the US. (Image Source: TOYO Solar)
The Albuquerque facility is part of Maxeon’s plan to build a domestic solar panel supply chain in the US. (Image Source: Maxeon)
The acquisition is expected to close by the end of fiscal year 2024, pending standard conditions. (Image Source: Alternus Clean Energy)