Fengate Asset Management closes acquisition of Accelergen Energy. The acquisition also includes a portfolio of solar and storage projects October 8, 2026 Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights Fengate Asset Management, an infrastructure investment manager, has closed its acquisition of Accelergen Energy through Fengate Infrastructure Fund V and its affiliated entities. The acquisition includes a portfolio of seven utility-scale solar-plus-battery energy storage systems and standalone battery storage projects, under development in the U.S. Accelergen Energy is a U.S.-based renewable energy developer focused on utility-scale solar, solar-plus-storage, and standalone battery energy storage projects. The company uses its proprietary Grid Miner analytics platform to forecast grid conditions, commercial performance, and development risks. The platform helps identify substations and project sites for greenfield development and acquisitions of projects under development. The transaction's financial terms and the combined capacity of the acquired projects were not disclosed. Accelergen's management team, led by Chief Executive Officer Tom Houle and Chief Development Officer Josh Skogen, will continue overseeing the development of the acquired portfolio. The team will also pursue new acquisitions and greenfield development opportunities. "This investment reflects our conviction that unprecedented power demand growth in the United States will be met in large part by pairing solar generation with battery storage," said Greg Calhoun, Managing Director, Head of Energy Transition, Fengate Asset Management. "Accelergen is a proven development team with a disciplined and data-driven approach to site selection and interconnection." The acquired Accelergen portfolio is located across power markets within the Southwest Power Pool and Western Electricity Coordinating Council. According to the release, long-term transmission improvement plans, thermal power plant retirements, and increasing electricity demand from industrial electrification and new large loads are driving the need for additional power generation and battery storage capacity in these markets. In the first half of 2026, corporate M&A activity in the solar sector increased to 57 transactions, compared to 50 transactions in 1H 2025, as per Mercom's 1H and Q2 2026 Solar Funding and M&A Report. Earlier this year, Asia-Pacific real asset owner and manager ESR signed an agreement to acquire 100% of Aquila Clean Energy APAC from Aquila Group. Aquila Clean Energy APAC has a 1.6 GW portfolio of operational, under-construction, and advanced-stage development assets across Australia and New Zealand, South Korea, Japan, and Taiwan.

Fengate Asset Management has acquired Accelergen Energy, securing a portfolio of seven utility-scale solar-plus-battery energy storage system and standalone battery energy storage system development-stage projects. The acquisition was made through Fengate Infrastructure Fund V and its affiliated entities. Accelergen's management team, including chief executive officer Tom Houle and chief development officer Josh Skogen, will continue leading portfolio development and pursuing new opportunities. The portfolio is located across Southwest Power Pool and Western Electricity Coordinating Council markets. These regions face growing electricity demand from industrial electrification and new large loads, alongside thermal plant retirements. Accelergen uses its proprietary Grid Miner analytics platform to forecast grid conditions and identify optimal project sites, accelerating market entry. The investment aims to support the company's goal of becoming a premier independent power producer.

Novaporte advances Cape Breton Offshore Wind Manufacturing Port following successful Canada Investment Summit. Sep 22, 2026, 07:30 ET Canadian capital, Indigenous partnership, global operating expertise and workforce development converge around an offshore wind industrial ecosystem supporting Nova Scotia's Wind West ambitions TORONTO, Sept. 22, 2026 /CNW/ - Novaporte concluded a successful Canada Investment Summit in Toronto this past week, advancing discussions with Canadian and international institutional investors around its proposed offshore wind manufacturing port and broader infrastructure platform in Sydney Harbour, Nova Scotia. The inaugural Summit brought together many of the world's leading investment executives, Canadian institutional investors, business leaders and governments with a common objective: attracting long-term capital to build major Canadian projects. Following more than 13 years of development, Novaporte's US$1 billion+ Phase One infrastructure program was selected for inclusion in the Summit investment deal book. Novaporte worked alongside federal and provincial representatives in welcoming international investors to Canada and encouraging them to consider Nova Scotia and Cape Breton as they evaluate Canadian infrastructure opportunities. Novaporte and its Canadian investment partner, Fengate Asset Management, also hosted meetings at Fengate's Toronto offices with international fund executives and leading Canadian institutional investors, including investors focused on marine and infrastructure assets. A central focus was the development of an integrated offshore wind industrial ecosystem in Cape Breton capable of supporting Nova Scotia's Wind West ambitions. As part of this effort, Fengate has provided indicative support for an equity investment of up to C$300 million across the Novaporte platform. Building the infrastructure behind Wind West At the centre of that ecosystem is Novaporte's proposed Sydney Harbour Offshore Wind Manufacturing Port, designed to extend beyond conventional turbine marshalling. Novaporte plans to combine heavy-lift marine infrastructure with industrial lands supporting component manufacturing, fabrication, assembly, logistics, operations and maintenance and other elements of the offshore wind supply chain. The objective is to attract anchor manufacturers and suppliers to Cape Breton and connect Canadian manufacturing to North Atlantic and European markets. The port is also being designed to support the future requirements of Novaporte Wind Canada LP, the SHIP-Membertou offshore wind development partnership successfully pre-qualified by the Canada-Nova Scotia Offshore Energy Regulator. Fengate participated alongside Novaporte Wind Canada LP in the CNSOER prequalification process, extending its relationship with the Novaporte development team that spans more than a decade. "Nova Scotia has a generational opportunity through Wind West to build a world-class offshore wind industry, create good-paying jobs and attract major investment to our province. Novaporte and Membertou have spent more than a decade building partnerships and positioning Cape Breton to participate in that opportunity. It is encouraging to see Canadian institutional capital, international offshore wind expertise and workforce development coming together around a Nova Scotia project. This is the kind of collaboration that can help us build an offshore wind industry and supply chain here at home." - Tim Houston, Premier of Nova Scotia Canadian capital supporting Canadian infrastructure Fengate has followed and supported SHIP's Novaporte development plans for more than a decade as the platform has evolved into a broader Canadian infrastructure and offshore wind opportunity. "Fengate has followed and supported SHIP's Novaporte development plans for more than a decade, and we have seen it evolve into an opportunity of national significance. We were pleased to participate alongside the Novaporte team through the offshore wind prequalification process and are equally proud to back this platform as it enters this next phase of development. What sets this opportunity apart is the combination of Canadian institutional capital, SHIP's longstanding partnership with Membertou, and meaningful Indigenous economic participation - that's the kind of nation-building infrastructure Cape Breton, and Canada, need right now." - Darcy Wilson, Managing Director, Infrastructure Investments, Fengate Asset Management An integrated offshore wind ecosystem At the foundation of Novaporte's ecosystem is its longstanding partnership with Membertou First Nation. Blue Water Shipping of Denmark, Novaporte's exclusive offshore wind marshalling port operator, brings more than 25 years of wind logistics and terminal operating experience. That global expertise will be paired with a Canadian workforce through Novaporte's partnership with the International Longshoremen's Association (ILA). The ecosystem extends internationally through the Northern Lights Ports Alliance, connecting Sydney Harbour with Nordic and North Atlantic partner ports and supporting trade relationships between Canadian manufacturers, northern communities and established European offshore wind markets. "Membertou and SHIP have worked together for more than a decade because we have always believed this opportunity could create lasting economic benefits for our people and for Cape Breton. The conversations in Toronto demonstrate the importance of bringing Indigenous partnership, Canadian capital and international investment together around projects that can create opportunities for generations. We are proud to continue advancing Novaporte together." - Chief Terry Paul, Chief & CEO, Membertou Building with Canadian capital "The Canada Investment Summit demonstrated what can happen when governments, Indigenous partners, Canadian institutional capital and global investors come together around projects that are ready to move forward. Prime Minister Carney has challenged Canada to build, attract investment and put Canadian capital to work alongside global capital. We intend for Novaporte to contribute to that vision. After 13 years of development, our objective is to assemble a Canadian capital stack around Novaporte, anchored by partners such as Membertou and Fengate and complemented by international infrastructure investment and expertise. We want Cape Breton to participate fully in Wind West-not simply by staging turbines, but by attracting manufacturing, supply-chain companies and skilled jobs to Nova Scotia." - Albert Barbusci, CEO, Novaporte Novaporte will continue working with its Indigenous, government, investment, operating and workforce partners as Nova Scotia advances its offshore wind strategy and Canada mobilizes Canadian and international capital into nation-building infrastructure. The objective is to be positioned to execute when the market, regulatory and investment conditions are ready. About Novaporte Novaporte is an Indigenous-partnered North Atlantic infrastructure development platform being advanced in Sydney Harbour, Nova Scotia. Developed alongside Membertou First Nation, Novaporte combines proposed deep-water marine infrastructure, industrial development, offshore wind manufacturing and logistics, rail connectivity and strategic access to Canadian, North Atlantic and European markets. Forward-Looking Information This release contains forward-looking information regarding proposed infrastructure, investment and development opportunities. Plans remain subject to regulatory approvals, commercial agreements, financing, engineering and market conditions. Fengate's indicative financial support remains subject to the terms of its proposal and does not constitute a commitment to invest C$300 million in any individual Novaporte project. Inclusion in the Canada Investment Summit investment deal book does not constitute a government endorsement or financing commitment. SOURCE Novaporte Wind Canada LP Media contacts: Justin Forian, Novaporte, [email protected]; Kelsea MacNeil, Membertou Development Corporation, [email protected]