North America’s power industry saw a drop of 19.35% in deal activity during March 2021, when compared with the last 12-month average, led by PPL’s $3.8bn acquisition of The Narragansett Electric, according to GlobalData’s deals database.

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A total of 50 power industry deals worth $4.68bn were announced for the region in March 2021, against the 12-month average of 62 deals.

Of all the deal types, M&A saw most activity in March 2021 with 28 transactions, representing a 56% share for the region.

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In second place was venture financing with 19 deals, followed by private equity deals with three transactions, respectively capturing a 38% and 6% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s power industry with $4.6bn, while venture financing and private equity deals totalled $87.44m and $0m, respectively.

North America power industry deals in March 2021: Top deals

The top five power deals accounted for 98.3% of the overall value during March 2021.

The combined value of the top five power deals stood at $4.6bn, against the overall value of $4.68bn recorded for the month.

The top five power industry deals of March 2021 tracked by GlobalData were:

1) PPL’s $3.8bn acquisition of The Narragansett Electric

2) The $760m asset transaction deal with NRG Energy by ArcLight Capital Partners

3) New Jersey American Water’s $21.8m venture financing of CITY OF and EGG HARBOR CITY

4) The $11m asset transaction with Element one by Ardmore Shipping

5) Breakthrough Energy Ventures, Congruent Ventures and The Engine’s venture financing of Veir for $10m.