Polish energy firm PKN Orlen has announced a tender offer to acquire a minority stake in Energa Group, an electricity distribution company.

PKN Orlen has offered $2.18 (PLN8.35) per share to acquire a 20% stake.

PKN Orlen president Daniel Obajtek said: “We are building a strong multi-utility group capable of meeting the challenges of Poland’s energy transition. Effective integration within the group is key to the process, therefore we said we want to acquire the full stake in the Energa Group from the very beginning.

“Acquiring full control of Energa would bring measurable organisational and operational benefits. This tender offer is also our response to the expectations expressed by those of our shareholders who did not take part in the first tender offer.

“Their interest in the offer best demonstrates our proposed terms were and still are optimal and attractive.”

Last December, PKN Orlen announced its first tender offer to purchase all shares in the Energa Group. Opening from 9 October, the new tender offer will close on 20 November 2020.

With this acquisition proposal, a spokesperson for PKN Orlen has said the company aims to further integrate the assets of the two companies. It believes the synergies generated by the merger would benefit the shareholders and investors of its group.

In April this year, the company acquired an 80% interest in the Energa Group, which was reported to be one of the largest deal in Poland’s fuels and energy market.

India Grid Trust has reportedly entered advanced talks to acquire Fotowatio Renewable Ventures’ (FRV’s) Indian renewable portfolio for $101m (Rs7.5bn).

The Economic Times reported that FRV started discussions with multiple investors including Hero Future Energies, EverSource and Edelweiss. The company plans to sell its Indian assets, but has failed to do so thus far.

Neoenergia Renováveis has bought 400MW of wind energy generation pipeline projects from PEC Energia in Brazil.

The portfolio spans approximately 7,800ha of land area in Serra da Gameleira, Bahia State.

Belgium-based renewable energy company Vortex Energy has sold its controlling stake in a 365MW UK solar photovoltaic (PV) portfolio.

TNB International, a subsidiary of Tenaga Nasional Berhad, will now increase its stake to 55% in a $14.28m (£11m) agreement.

Israel’s electricity firm OPC Energy plans to acquire US-based electricity generation company Competitive Power Ventures (CPV).

The company has produced a letter of intent for the deal, requiring an investment of $700m-$800m. Part of the purchase price will go towards CPV’s future projects.

Spanish electric utility company Iberdrola has agreed to buy out Japan’s green energy supplier Acacia Renewables.

Macquarie’s Green Investment Group (GIG) will sell the shares, but financial details have not been disclosed by either company.