Renewable deals hit new heights in 2017
Renewable growth propelled power and utilities mergers and acquisitions to eight-year highs in 2017, both in terms of value and volume.
According to business services firm EY, this figure reached $200 billion (£143.4bn) across 516 deals over the year, with around $43 billion (£30.8bn) of this figure made up from low carbon energy sources such as wind and solar.
Renewable deal volume increased by around 28%, which drove an overall 10% rise in all energy mergers and acquisitions.
EY says investment in renewables rose by 150% in 2017, with most value attributed to European deals at $15.1 billion (£10.8bn).
Transmission and distribution accounted for nearly exactly half of total deal value, as buyers continued to favour long-term stable returns.
Last year also saw a resurgence in mergers and acquisitions involving independent power producers, particularly in Europe and the US, where these deals more than doubled in value, from $15.2 billion (£10.9bn) to $33 billion (£24bn) year-on-year.