PwC report: $1.6bn in European renewables deals in Q2

Price Waterhouse Coopers have released a report entitled European Power and Renewables deals Quarterly M&A outlook, following an analysis of European renewables utilities.

The analysis found that despite economic and financial uncertainty, $1.6bn worth of deals were made in the sector in the second quarter of this year.
Mergers and acquisitions
Although deal numbers declined to a relatively low level in the second quarter, total deal value was buoyed by three multi-billion dollar deals which accounted for $18.1bn of the $19.6bn European power deals Q2 2012 total.

On top of this there was a further US$1.6bn of deals for Renewable power assets.

Much of the power deals total came from two transactions for gas network assets – Open Grid Europe (OGE) in Germany and Snam in Italy.

Nearly US$1.3bn of the US$1.6bn renewables deals total comes from four US$100m plus transactions. Heading the list is Belgian company Electrawinds’ US$538m reverse takeover of European CleanTech.

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