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.