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US power industry sees a drop of 14.55% in deal activity in March 2021

29 Apr 2021 (Last Updated April 29th, 2021 18:52)

US power industry saw a drop of 14.55% in overall deal activity during March 2021, when compared with the last 12-month average, led by PPL’s $3.8bn acquisition of The Narragansett Electric, according to GlobalData’s deals database.

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A total of 47 deals worth $4.68bn were announced in March 2021, compared with the 12-month average of 55 deals.

M&A was the leading category in the month in terms of volume with 27 deals, which accounted for 57.5% of all deals.

In second place was venture financing with 18 deals, followed by private equity with two transactions, respectively accounting for 38.3% and 4.3% of overall deal activity in the US technology 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 $4.6bn, followed by venture financing deals totalled $87.44m.

US power industry deals in March 2021: Top deals

The top five power industry deals accounted for 98.3% of the overall value during March 2021.

The combined value of the top five power deals stood at $4.6bn, against the overall value of $4.68bn recorded for the month.

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

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

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

3) New Jersey American Water’s $21.8m venture financing of CITY OF and EGG HARBOR CITY

4) The $11m asset transaction deal with Element one by Ardmore Shipping

5) Breakthrough Energy Ventures, Congruent Ventures and The Engine’s venture financing with Veir for $10m.

Visit our ‘Power Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the power industry.