Total power industry cross border deals worth $8.8bn were announced globally for June 2021, with the $3.46bn private equity deal for 50% stake in Stockholm Exergi being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 887.4% over the previous month of $890.21m and a rise of 66.8% when compared with the last 12-month average of $5.27bn.

In terms of number of cross border deals, the sector saw a drop of 14.71% with 29 deals in June 2021 when compared to the last 12-month average of 34 deals.

In value terms, Europe led the activity with cross border deals worth $7.64bn in June 2021.

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Power industry cross border deals in June 2021: Top deals

The top five cross border deals accounted for 97.1% of the overall value during June 2021.

The combined value of the top five cross border deals stood at $8.53bn, against the overall value of $8.8bn recorded for the month.

The top five power industry cross border deals of June 2021 tracked by GlobalData were:

1) Alecta Pensionsforsakring Omsesidigt, APG Groep, Axa Real Estate Investment Managers, Keva and PGGM’s $3.46bn private equity deal for 50% stake with Stockholm Exergi

2) The $2.75bn private equity deal with Northvolt by AMF Pensionsforsakring, AP1, Baillie Gifford, Baron Capital Management, Bridford Investments, Compagnia di San Paolo, Cristina Stenbeck, Daniel Ek, Goldman Sachs Asset Management, IMAS Foundation, KIC InnoEnergy, Norrsken VC, OMERS Capital Markets, PCS, Scania, Second Swedish National Pension Fund, Stena Metall, The Fourth Swedish National Pension Fund, The Third Swedish National Pension Fund (Tredje AP-fonden) and Volkswagen

3) Veleta BidCo S.a’s $1.29bn acquisition of SolarPack Corporacion Tecnologica

4) The $645m acquisition deal of SPX Transformer Solutions by Prolec GE International S de RL de CV

5) Enlight Renewable Energy’s acquisition deal for 90% stake in Clenera for $389.7m.