Naturgy nears deal to acquire Candela Renewables – Reuters

Spain's Naturgy Energy Group SA is close to signing a deal to acquire San Francisco-based solar developer Candela Renewables LLC, Reuters reported Jan. 13, citing two sources familiar with the matter.

Expected to be finalized this week, the transaction would be the Spanish company's first deal in the U.S., according to the report.

One of the sources told Reuters that Candela Renewables, which was founded in 2018 by former First Solar Inc. employees, is valued at $80 million to $100 million.