Total power industry M&A deals worth $24bn were announced in the US in October 2022, with Brookfield Renewable Partners and Cameco’s $7.88bn acquisition of Westinghouse Electric Co being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 677.02% over the previous month of $3.09bn and a rise of 799.3% when compared with the last 12-month average of $2.67bn.

The US held a 93.46% share of the global power industry M&A deal value that totalled $25.69bn in October 2022.

In terms of M&A deal activity, the US recorded 41 deals during October 2022, marking an increase of 7.89% over the previous month and a rise of 5.13% over the 12-month average.

US power industry M&A deals in October 2022: Top deals

The top five power industry M&A deals accounted for 91.1% of the overall value during October 2022.

The combined value of the top five power M&A deals stood at $21.88bn, against the overall value of $24bn recorded for the month.

The top five power industry M&A deals of October 2022 tracked by GlobalData were:

1) Brookfield Renewable Partners and Cameco’s $7.88bn acquisition deal with Westinghouse Electric Co

2) The $6.8bn acquisition of Con Edison Clean Energy Businesses by RWE Renewables Americas

3) BP’s $4.1bn acquisition deal with Archaea Energy

4) The $2bn acquisition of Great River Hydro by HQI US Holding

5) NextEra Energy Resources’s $1.1bn asset transaction deal with Energy Power Partners Fund I and North American Sustainable Energy Fund