Total power industry cross border M&A deals worth $4.74bn were announced in Europe in December 2020, led by Cubico Sustainable Investments’ $1.82bn acquisition of Grupo T-Solar Global, according to GlobalData’s deals database.

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The value marked an increase of 118.4% over the previous month of $2.17bn and a rise of 190.8% when compared with the last 12-month average of $1.63bn.

Europe held a 46.70% share of the global power industry cross border M&A deal value that totalled $10.15bn in December 2020. With a 27.49% share and deals worth $2.79bn, Spain was the top country in Europe’s cross border M&A deal value across power industry.

In terms of cross border M&A deal activity, Europe recorded 34 deals during December 2020, marking an increase of 30.77% over the previous month and a rise of 47.83% over the 12-month average. Spain recorded six deals during the month.

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Europe power industry cross border M&A deals in December 2020: Top deals

The top five power industry cross border M&A deals accounted for 94.2% of the overall value during December 2020.

The combined value of the top five power cross border deals stood at $4.46bn, against the overall value of $4.74bn recorded for the month.

The top five power industry cross border M&A deals of December 2020 tracked by GlobalData were:

1) Cubico Sustainable Investments’ $1.82bn acquisition of Grupo T-Solar Global

2) The $969m acquisition of EVBox by TPG Pace Beneficial Finance

3) ORIX Corporation Europe’s $964m acquisition of Elawan Energy

4) The $543.78m asset transaction with Equinor and SSE by Eni

5) Greencoat Renewables’ asset transaction with Statkraft for $166.12m.