Lagos — The UK power industry saw a drop of 25% in overall deal activity during Q2 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.
A total of 27 deals worth $1.59bn were announced in Q2 2020, compared to the last four-quarter average of 36 deals.
M&A was the leading category in the quarter with 20 deals which accounted for 74.1% of all deals.
In second place was venture financing with six deals, followed by private equity with one transactions, respectively accounting for 22.2% and 3.7% of overall deal activity in the country’s power industry during the quarter.
In terms of value of deals, M&A was the leading deal category in the UK power industry with total deals worth $1.56bn, while private equity and venture financing deals totalled $17.34m and $8.96m, respectively.
The UK power industry deals in Q2 2020: Top deals
The top three power deals accounted for 79.2% of the overall value during Q2 2020.
The combined value of the top three power deals stood at $1.26bn, against the overall value of $1.59bn recorded for the month.
The top three power industry deals of Q2 2020 tracked by GlobalData were:
– Diamond Transmission Partners Walney Extension’s $555.6m asset transaction with Orsted, PFA Holding and PKA.
– The $395.46m asset transaction with Vattenfall Wind Power by Greencoat UK Wind
– Origin Energy’s $311.29m acquisition of Octopus Energy