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Deals in global power, renewables touch $243 billion in 2014: PwC

  • Global M&A value in the power and renewables sector stood at USD 243.1 billion in 2014, a 70 per cent jump on a year-on-year basis, according to report. The total worldwide power and renewables deal value rose from USD 143.3 billion in 2013 to USD 243.1 billion in 2014, a 70 per cent rise over last year, said the PwC and Strategy&'s latest annual Power and Renewables Deals report. This is the first time the total has broken out of the USD 100-200 billion range established since the pre-credit crisis year of 2007. "The scope for deal flow is substantial in conventional power, but most players are on a 'wait and watch' mode due to unresolved regulatory issues," PwC India partner and Leader Power Utilities and Mining Kameswara Rao said.

  • With respect to India, Rao said "In renewable energy sector in India, investors are largely inclined towards project or platform level investments; so the M&A activity will take some time to build." "We expect strong inward investment from global utilities and funds who will partner with local players to develop renewable portfolio," he said. "The big new factor in the mix is falling energy prices and this will add an extra dynamic into the all-important regulatory environment for companies," he added.

  • In 2015, a more globally-balanced spread of deals is expected with fewer of the US mega-deals that buoyed 2014 total figure, according to the report. "A flow of privatisation and other government sales could have a significant impact on 2015 deal activity, particularly in Australia and Turkey," the report added.

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