𝙒𝙝𝙖𝙩 𝙘𝙖𝙪𝙜𝙝𝙩 𝙢𝙮 𝙖𝙩𝙩𝙚𝙣𝙩𝙞𝙤𝙣? The 5.4% decline from 2022-2024 in Fortune Global 500 companies with “carbon” targets, versus 8.0% and 7.4% increases in targets for “chemicals and plastics” and “biodiversity” according to McKinsey & Company.
The Constellation and Calpine deal is BIG, but just the latest big deal in the power and energy transition space. We're tracking all the deals, across all the technologies. Check out some of the summary recent deal trends and metrics from our team’s Power and ET M&A Review:
Mergers and acquisitions in the energy and power sector reached $129 billion in the first three quarters of 2024, up from $120 billion in the same period last year, despite a slowdown in the third quarter.
• Valuations are stabilizing as clean energy technologies mature, with a focus on operational efficiency and predictable cash flows. The Inflation Reduction Act continues to drive transactions, particularly through tax credits for carbon capture and clean fuels, though regulatory uncertainty is prompting companies to seek broader geopolitical exposure.
• Energy and power M&A activity saw a slight decline in deal value to $42 billion in 3Q24, with year-to-date deal value at $146 billion, driven by generation and distribution assets.
