Total power industry private equity deals worth $5.04bn were announced in the US in Q1 2021, with Duke Energy Indiana’s $2.05bn private equity deal with GIC being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 148.3% over the previous quarter and a rise of 171% when compared with the last four-quarter average of $1.86bn.

The US held a 33.49% share of the global power industry private equity deal value that totalled $15.05bn in Q1 2021.

In terms of deal activity, the US recorded 28 private equity deals during Q1 2021, marking an increase of 27.27% over the previous quarter and a rise of 128.57% over the last four-quarter average.

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US power industry private equity deals in Q1 2021: Top deals

The top five power private equity deals accounted for a 91.5% share of the overall value during Q1 2021.

The combined value of the top five private equity deals stood at $4.61bn, against the overall value of $5.04bn recorded for the quarter.

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

1) GIC’s $2.05bn private equity deal with Duke Energy Indiana

2) The $963m private equity deal with Aegion by New Mountain Capital

3) I Squared Capital’s $961m private equity deal with Atlantic Power

4) The $482m private equity deal with Intersect Power by CarVal Investors and Generate Capital

5) Cottonwood Technology Group, Fortistar, Newlight Partners and Sun Mountain Capital’s private equity deal with BayoTech for $157m.