August 05, 2022
☀️ And just like that, it's already Friday.
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1 big thing: M&A volume up 25% in first half
The renewables and storage sectors hit a record number of deals in the first half of 2022, Alan reports.
Why it matters: The pace of strategic and private equity deals underscores the sector's promise and resilience amid global economic turmoil.
Yes, but: M&A deals take months (or longer) to come together. We'll see what the second-half data brings.
What's happening: Corporate acquisitions and private equity buyouts in H1 soared to $29.3 billion — a 25% jump from the same period last year, per BNEF data.
- The U.S. was the most active market by deal count, followed by China and India.
The biggest deals: Chevron's acquisition of Renewable Energy Group for $3.1 billion, IIF International Holding's acquisition of Falck Renewables SpA for $2.6 billion, and Japan Renewable Energy's buyout by Eneos Holdings Inc for $1.7 billion.
What we're watching: How the incentives in the Inflation Reduction Act — if the bill passes, and with the energy provisions intact — might further stoke dealmaking.