EU Solar M&A Trends 2024: Spain and UK Lead the Activity this Year, While Emerging Markets Gain Traction

updated on 21 December 2024

Dominance of UK and Spain Driven by Rising Demand for De-risked Assets: Enerdatics data highlights that over 75% of deals in the UK and Spain involved de-risked projects—those that had secured/advanced beyond the Final Investment Decision (FID) or Notice to Proceed (NTP). Amid elevated capital costs, persistent supply chain challenges, and heightened development risks, investors are gravitating towards assets with mitigated risks in these markets, thereby guaranteeing stable and predictable returns.

Emerging Markets Gain Momentum, Driven by Rising Demand for Clean Energy: Markets such as Poland, Romania, and Greece are emerging as key players, fueled by escalating demand for clean energy and a growing focus on energy independence. Elevated power prices and supportive government policies are attracting investors, who are currently targeting individual assets. However, Enerdatics projects a transition in the coming years, with buyers likely to pursue larger portfolios or development platforms.

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