Consolidation on the Horizon: What Happens to Storage Pipelines and Valuations?

Synopsis

• With consolidation expected in 2026 and 2027, how will developers, IPPs, and funds approach pipeline acquisitions and portfolio M&A?
• How are investors valuing projects still in development, and what discounts or premiums apply depending on stage, interconnection status, or equipment compliance under FEOC?
• What structures are being used for acquisitions such as full takeovers, JV partnerships, or partial offtake of development rights?
• How do lenders and equity backers assess the risks of acquiring projects mid development compared to backing greenfield builds?
• What exit options are available for mid-tier developers under pressure, and how does that shape the competitive landscape?