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  1. Deals Analysis
March 31, 2022

US power industry sees a rise of 10.87% in deal activity in February 2022

By Nikitha Ladda

US power industry saw a rise of 10.87% in overall deal activity during February 2022, when compared with the last 12-month average, led by Chevron’s $3.15bn acquisition of Renewable Energy Group, according to GlobalData’s deals database.

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A total of 51 deals worth $4.7bn were announced in February 2022, compared with the 12-month average of 46 deals.

venture financing was the leading category in the month in terms of volume with 30 deals, which accounted for 58.8% of all deals.

In second place was M&A with 14 deals, followed by private equity with seven transactions, respectively accounting for 27.5% and 13.7% 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 $3.19bn, while venture financing and private equity deals totalled $1.18bn and $357.5m respectively.

US power industry deals in February 2022: Top deals

The top five power industry deals accounted for 90.4% of the overall value during February 2022.

The combined value of the top five power deals stood at $4.28bn, against the overall value of $4.7bn recorded for the month.

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

1) Chevron $3.15bn acquisition deal with Renewable Energy Group

2) The $375m venture financing of Palmetto Solar by Bennett &Inc.,ArcTern Ventures ,Gaingels,Lerer Hippeau Ventures,MacKinnon and Social Capital

3) Yorkville Advisors $350m private equity deal with Romeo Power

4) The $200m venture financing of Epirus by Bedrock Capital Partners,Broom Ventures,Eight Partners,EPIQ Capital Group,Gaingels,General Dynamics Land Systems,I Squared Capital,Moore Strategic Ventures,Parkwood,Piedmont Capital Partners,Red Cell Partners,StepStone Group and T Rowe Price Associates

5) Coatue Management,Emerson Collective,Energize Ventures,Fifth Wall Ventures II,ICONIQ Capital and Lux Capital $200m venture financing deal with Aurora Solar

Related Companies

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.

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