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According to EY, global power and utilities deals hit an all-time record of $180 billion in the first half of 2018 as renewable energy transactions continued to surge in the second quarter of this year
.
According to EY's Power Transactions and Trends report, the second-quarter deal value fell 14 percent to $83 billion, but it still hit a record high
.
Renewable energy accounts for 46 per cent
of this figure.
According to the report, 63 renewable energy transactions totaled $12.
9 billion in the second quarter of 2018, between April and June.
"The first half of 2018 reflects a complex deal environment characterized by changes in the generation mix and growing interest in renewable energy investments, which will continue to drive the deal agenda into the second half of the year," said
Miles Huq, EY's global power and utilities consulting specialist.
Huq also added, "Utilities around the world are increasingly exploring new technologies
such as battery storage, electric vehicle infrastructure and digital grid technology.
”
China led global outbound investment in the second quarter, involving US$31.
2 billion in cross-border energy transactions, including the largest deal of the quarter, China's Three Gorges US$27.
4 billion acquisition
of Portugal's EDP.
During the quarter, a number of developing markets became mergers and acquisitions (M&A) destinations, with Thailand trading at $5.
3 billion, India at $3.
2 billion and Estonia at $600 million
, according to the report.
Ernst & Young said M&A in Europe remained strong in the quarter, reaching $45.
7 billion.
In the Americas, transaction value decreased 8% sequentially to US$26.
9 billion, while Asia Pacific increased 78% sequentially to US$10.
3 billion, driven by renewable energy.
There were 25 clean energy deals totaling $3.
8 billion
in the Asia-Pacific region during the quarter.
According to EY, global power and utilities deals hit an all-time record of $180 billion in the first half of 2018 as renewable energy transactions continued to surge in the second quarter of this year
.
According to EY's Power Transactions and Trends report, the second-quarter deal value fell 14 percent to $83 billion, but it still hit a record high
.
Renewable energy accounts for 46 per cent
of this figure.
According to the report, 63 renewable energy transactions totaled $12.
9 billion in the second quarter of 2018, between April and June.
"The first half of 2018 reflects a complex deal environment characterized by changes in the generation mix and growing interest in renewable energy investments, which will continue to drive the deal agenda into the second half of the year," said
Miles Huq, EY's global power and utilities consulting specialist.
Huq also added, "Utilities around the world are increasingly exploring new technologies
such as battery storage, electric vehicle infrastructure and digital grid technology.
”
China led global outbound investment in the second quarter, involving US$31.
2 billion in cross-border energy transactions, including the largest deal of the quarter, China's Three Gorges US$27.
4 billion acquisition
of Portugal's EDP.
During the quarter, a number of developing markets became mergers and acquisitions (M&A) destinations, with Thailand trading at $5.
3 billion, India at $3.
2 billion and Estonia at $600 million
, according to the report.
Ernst & Young said M&A in Europe remained strong in the quarter, reaching $45.
7 billion.
In the Americas, transaction value decreased 8% sequentially to US$26.
9 billion, while Asia Pacific increased 78% sequentially to US$10.
3 billion, driven by renewable energy.
There were 25 clean energy deals totaling $3.
8 billion
in the Asia-Pacific region during the quarter.
