US power industry saw a drop of 18.67% in overall deal activity during November 2022, when compared with the last 12-month average, led by Nextera Energy Partners’ $805m asset transaction with NextEra Energy Resources, according to GlobalData’s deals database.

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A total of 61 deals worth $2.1bn were announced in November 2022, compared with the 12-month average of 75 deals.

M&A was the leading category in the month in terms of volume with 34 deals, which accounted for 55.7% of all deals.

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In second place was venture financing with 18 deals, followed by private equity with nine transactions, respectively accounting for 29.5% and 14.8% 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 $1.27bn, while private equity and venture financing deals totalled $605m and $245.49m respectively.

US power industry deals in November 2022: Top deals

The top five power industry deals accounted for 84.02% of the overall value during November 2022.

The combined value of the top five power deals stood at $1.79bn, against the overall value of $2.1bn recorded for the month.

The top five power industry deals of November 2022 tracked by GlobalData were:

1) Nextera Energy Partners’s $805m asset transaction deal with NextEra Energy Resources

2) The $430m acquisition of Navitar and RTDS Technologies by AMETEK

3) The Carlyle Group’s $350m private equity deal with Aspen Power Partners

4) The $120m private equity of Swell Energy by Ares Infrastructure Opportunities Fund, Greenbacker Development Opportunities Fund I, Ontario Power Generation Pension Fund and SoftBank Vision Fund 2

5) Bill Gates, Korea Shipbuilding & Offshore Engineering, SK, SK Innovation and XCarb Innovation Fund’s $80m private equity deal with TerraPower