Power Capital Renewable Energy is up for sale: Power Capital Renewable Energy (PCRE), a big developer of solar energy and battery storage in the UK, is up for sale by its backer Omnes Capital, Bloomberg reports. The valuation of the company came at EUR 400 mn (USD 424 mn). PCRE has a 3.5 GW portfolio of solar and energy storage assets across Ireland and the US. Akereos Capital has been retained to find a buyer, and the sale will either involve a majority stake or 100% of the firm.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Occidental quietly offloads major CCS plant: Oil giant Occidental sold its Century carbon capture and storage (CCUS) plant last year after a decade of economic issues. The plant was found to have run with less than a third of its capacity since it was established and was sold for USD 200 mn, 4x less than the construction investment alone. (Bloomberg)