Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through CMS ENERGY's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
4 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
A 1,176-megawatt (1,200-MW nameplate) natural gas-fired combined cycle generating plant located in Van Buren County, Michigan, purchased by Consumers Energy from New Covert Generating Company, LLC, a non-affiliated company. Consumers signed the Purchase and Sale Agreement on June 21, 2021 and completed the purchase in May 2023 for $810 million, with an additional $2 million paid in August 2023 under a post-closing working capital adjustment. The acquisition was a centerpiece of Consumers Energy's Clean Energy Plan to exit coal generation, adding dispatchable natural gas capacity to bridge the transition.
We are proud to lead Michigan's clean energy transformation and be one of the first utilities in the country to end coal use. We are committed to being a force of change and good stewards of our environment, producing reliable, affordable energy for our customers while caring for our communities during this transition.Garrick Rochow — President and CEO, Consumers Energy
CMS Energy purchased a majority (51%) stake in Aviator Wind, a 525-megawatt wind energy project in Coke County, Texas, roughly 250 miles southwest of Dallas. The stake was acquired from funds managed by Ares Management Corporation's Infrastructure and Power strategy, which constructed and managed the project. The facility, operated by CMS Energy subsidiary CMS Enterprises, supplies clean energy committed to Facebook and McDonald's under their corporate renewable-energy goals.
Consumers Energy, the principal subsidiary of CMS Energy, entered into a development-asset acquisition agreement to own, construct and operate the Gratiot Farms Wind Project, then being developed by Tradewind Energy. Located in North Shade and New Haven Townships in Gratiot County, Michigan, the project was planned for up to 75 turbines and a capacity of up to 150 megawatts. Consumers Energy acquired the development package and would manage construction, with Tradewind continuing development work (studies, permits, real estate) to the construction stage.
CMS Enterprises, a subsidiary of CMS Energy, signed an agreement to purchase the 105-megawatt Northwest Ohio Wind project once construction was nearly complete. The project, spanning roughly 10,000 acres, was under construction by subsidiaries of Starwood Energy Group Global, with completion expected by fall 2018. CMS Enterprises would finish construction and then own and operate the facility, committing its renewable output to General Motors under a 15-year renewable energy purchase agreement.