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  1. Deals Analysis
May 4, 2021

Power industry M&A deals total $12.25bn in North America in Q1 2021

By Baghmar P

Total power industry M&A deals worth $12.25bn were announced in North America in Q1 2021, led by PPL’s $3.8bn acquisition of The Narragansett Electric, according to GlobalData’s deals database.

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The value marked a decrease of 34.5% over the previous quarter and a drop of 4.7% when compared with the last four-quarter average of $12.86bn.

North America held a 32.51% share of the global power industry M&A deal value that totalled $37.68bn in Q1 2021. With a 24.92% share and deals worth $9.39bn, the US was the top country in North America’s M&A deal value across power industry.

In terms of deal activity, North America recorded 126 deals during Q1 2021, marking a decrease of 2.33% over the previous quarter and a rise of 29.23% over the last four-quarter average. The US recorded 109 deals during the quarter.

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North America power industry M&A deals in Q1 2021: Top deals

The top five power industry M&A deals accounted for 68.01% of the overall value during Q1 2021.

The combined value of the top five M&A deals stood at $8.33bn, against the overall value of $12.25bn recorded for the quarter.

The top five power industry deals of Q1 2021 tracked by GlobalData were:

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

2) The $2.19bn asset transaction with Brookfield Infrastructure Partners by IFM Investors and Ontario Teachers’ Pension Plan

3) $822m merger of Microvast Power Systems and Tuscan

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

5) ArcLight Capital Partners’ asset transaction with NRG Energy for $760m.

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