Power industry M&A deals total $93.2m in Europe in March 2022

Total power industry M&A deals worth $93.2m were announced in Europe in March 2022, led by Hanwha Solutions ‘ $44m acquisition of 4.67% stake in REC Silicon , according to GlobalData’s deals database.

The value marked a decrease of 72.2% over the previous month of $335.4m and a drop of 97.01% when compared with the last 12-month average of $3.12bn.

Europe held a 4.59% share of the global power industry M&A deal value that totalled $2.03bn in March 2022. With a 2.17% share and deals worth $44m, Norway was the top country in Europe’s M&A deal value across power industry.

In terms of M&A deal activity, Europe recorded 24 deals during March 2022, marking an increase of 20% over the previous month and a drop of 7.69% over the 12-month average. The UK recorded five deals during the month.

Europe power industry M&A deals in March 2022: Top deals

The top five power industry M&A deals accounted for 99.2% of the overall value during March 2022.

The combined value of the top five power deals stood at $92.36m, against the overall value of $93.2m recorded for the month.

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

1) Hanwha Solutions $44m acquisition deal for 4.7% stake in REC Silicon

2) The $29.1m acquisition of 35% stake in MaxSolar by Greenvolt – Energias Renovaveis

3) Luceco $13.16m acquisition deal for 80% stake in EV Charge Points UK T/A EVCP

4) The $3.57m acquisition of 65% stake in Tropos Motors Europe by Cenntro Electric Group

5) EDP Energia Polska $2.53m acquisition deal with Soon Energy Poland