APAC M&A Trends 2024: Australia Led the Activity for the First Time With 32 Deals, Overtaking India

updated on 18 January 2025

Stable Market Conditions and Growing Power Demand Fueled M&A Activity in Australia: Rising demand for clean energy, combined with Australia’s stable political and economic environment, positioned the country as a leading destination for M&A activity. Investors were gravitating towards large-scale development portfolios, drawn by advantages such as abundant land, competitive development costs, and a well-established PPA market.

International Players Adopted Selective Investment Strategy in India and Southeast Asia: Macroeconomic challenges and regulatory hurdles prompted International investors to take a prudent approach to M&A opportunities in these markets. Domestic IPPs/utilities led most of the activity, focusing on contracted renewable assets with long-term revenues. However, select international players like TotalEnergies and Brookfield capitalized on value-accretive opportunities to strengthen their presence.

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