Merger and acquisition activity in the global renewables sector surged to a record $55.3 billion (£38.8bn) last year, nearly doubling the value of deals recorded in 2014.
Figures show that, while the number of deals completed rose only marginally, the value of individual transactions increased substantially. On the latter measure, renewables accounted for 28 per cent of all mergers and acquisitions in the power and utility sector during 2015, up from 12 per cent the previous year.
The Power and Renewables Deals report from PwC found the value of green energy deals in the Asia-Pacific region more than doubled, followed closely by Europe where activity increased nearly two-fold. Deal values increased by a factor of nearly three in Central and South America, and by more than a quarter in North America.
Continuing momentum in the renewables sector is expected to support robust deal flow across the wider industry in 2016. Norbert Schweiters, global head of power and utilities at PwC, said activity should remain strong despite “global economic headwinds”.
“The record highs for Asia Pacific and the strength of renewables activity from Europe to Central and South America clearly demonstrate the global and technological shifts taking place across the sector,” Schweiters said.