A group of investors led by BlackRock’s Global Infrastructure Partners and private equity firm EQT has agreed to acquire U.S. power company AES in a $33.4 billion deal including debt. The transaction reflects growing investor demand for large-scale power assets as electricity consumption rises, driven in part by AI data centers. Backed by investors including CalPERS and the Qatar Investment Authority, the deal would give AES greater access to capital to expand power generation and infrastructure.

Brookfield Asset Management, Norges Bank Investment Management and British Columbia Investment Management Corp have launched Northview Energy, a North American renewables platform seeded with about 2.3 GW of operating wind and solar assets across 11 U.S. states. The portfolio includes 22 contracted projects backed by long-term power purchase agreements with an average remaining term of roughly 16 years. NBIM will invest about $425 million for a 33.3% stake, implying a total enterprise value of roughly $2.6 billion, with the partners planning to deploy up to $1.5 billion of additional equity into future renewable acquisitions.

Innagreen Investments will become the long-term equity partner in the proposed 436.5-MW Tarong West Wind Farm in Queensland, replacing state-owned generator Stanwell, which transferred its option to acquire the project. The project is being developed by RES Group and is planned to include up to 97 turbines near Kingaroy. Stanwell will retain exclusivity to negotiate a power purchase agreement for the project’s electricity output as it moves toward financing and construction.

Vor Systems, an AI platform designed to support complex renewable energy transactions, has raised $3 million in pre-seed funding led by Gigascale Capital with participation from Virta Ventures and several tech and energy executives. The platform analyzes large volumes of transaction documents to help developers and investors manage diligence, identify risks, and structure deals more efficiently. Founded by former DoorDash executive Victor Shao alongside Guillaume Nozière and John Bragg, the startup plans to use the funding to expand product development and begin early deployments with renewable developers and infrastructure investors.

Home energy storage startup Lunar Energy has raised $232 million across Series C and D funding rounds to scale its AI-enabled residential battery platform. The Series C round included about $130 million led by Activate Capital, while the $102 million Series D round was led by B Capital and Prelude Ventures, with participation from investors including DCVC, Piva Capital, Leitmotif, Sunrun and Itochu. Founded by former Tesla Energy executive Kunal Girotra, Lunar develops software-integrated home battery systems designed to optimize electricity use, integrate rooftop solar and enable participation in virtual power plants.

Enhanced geothermal startup Fervo Energy has reportedly submitted a confidential S-1 filing with the U.S. Securities and Exchange Commission as it seeks additional capital to expand its next-generation geothermal projects. The company has raised about $1.5 billion since 2017 and is developing the 500-MW Cape Station project in Utah, which would become the world’s largest enhanced geothermal system if completed as planned in 2028. Fervo is also preparing to bring the first 100 MW of the project online later this year.

Meta has signed a long-term power purchase agreement with MN8 Energy to buy the full output from the 80-MW Walker Solar project in Pennsylvania. The project, currently under development and expected to begin operations in 2026, will supply renewable electricity to support Meta’s data center operations. The agreement reflects growing demand for clean power from large tech companies as electricity needs rise alongside AI and cloud computing.