US power industry sees a flat growth in deal activity in September 2020

21 October 2020 (Last Updated October 21st, 2020 16:02)

US power industry sees a flat growth in deal activity in September 2020

The US power industry saw a flat growth in overall deal activity during September 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 42 deals worth $3.53bn were announced in September 2020, compared to the 12-month average of 42 deals.

M&A was the leading category in the month in terms of volume with 31 deals which accounted for 73.8% of all deals.

In second place was venture financing with seven deals, followed by private equity with four transactions, respectively accounting for 16.7% and 9.5% of overall deal activity in the country’s power industry during the month.

In terms of value of deals, M&A was the leading deal category in the US power industry with total deals worth $3.38bn, while private equity and venture financing deals totalled $124m and $31.7m, respectively.

US power industry deals in September 2020: Top deals

The top five power industry deals accounted for 95.9% of the overall value during September 2020.

The combined value of the top five power deals stood at $3.39bn, against the overall value of $3.53bn recorded for the month.

The top five power industry deals of September 2020 tracked by GlobalData were:

1) BP’s $1.1bn asset transaction with Equinor

2) The $800m acquisition of Competitive Power Ventures by OPC Energy

3) Alpha Asset Management Mutual Funds ManagementS.A., Hana Financial Investment, Korea Hydro & Nuclear Power, Korea Investment & Securities and Sprott Korea’s $735m asset transaction with Brookfield Renewable Energy Partners and Invenergy

4) The $660m acquisition of GridLiance by NextEra Energy

5) Africa Renewable Power Fund, ARCH Emerging Markets Partners, CDC Group, FMO, Global Partnerships, Norfund, responsAbility Investments, Social Investment Managers & Advisors and Symbiotics’ private equity deal with Greenlight Planet for $90m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.