TTR Data Report: decline in M&A deals in the power sector in 2023

TTR Data, the platform specialised in Mergers & Acquisitions, Private Equity, Venture Capital, and Capital Markets, has launched a special report on the Spanish transactional market in the renewable energy sector, revealing a 22% decrease in Mergers & Acquisitions (M&A) deals in the Spanish power sector during 2023.
According to the report, Spain has witnessed 235 deals in the Renewable Energy sector during 2023, covering both announced and closed transactions, with a total value of EUR 31,506 million.

Despite a 22% decrease in the number of transactions, the report highlights a 65% increase in the total amount of transactions compared to the same period last year. Non-confidential mobilised capital peaked in April 2023, with a total of EUR 9.68 billion. July 2023 also stands out as the most active period in the last 12 months, with a total of 34 transactions in the Renewable Energy sector.

As sub-sectors of note, the report highlights that solar and wind have emerged as the most active sub-sectors, with 136 and 52 deals respectively, underlining a significant focus on these sustainable energy sources. And a highlight of the year was Siemens Energy acquiring an additional 25.65% of Siemens Gamesa, marking a significant milestone in the sector’s M&A landscape.

Cross-Border Transactions

In terms of Cross-Border transactions, Spanish companies have mainly directed their investments to the United States and Portugal, with 8 and 6 operations respectively. Portugal was the destination with the highest disbursement by Spanish companies, reaching a total amount of EUR 2,121 million. In addition, the United Kingdom and Italy were the countries with the highest number of investments made in Spain in the renewables sector in 2023, with 2 investments each.
This report provides a comprehensive overview of the current M&A landscape in the Renewables sector in Spain, highlighting both trends and key developments driving the market during 2023.