PE Consolidation Accelerates in Europe and North America with $14B+ in Deals YTD 2025: Firms, including CDPQ, Brookfield, and TPG Rise, have maintained their aggressive dealmaking momentum from 2024, announcing multi-billion-dollar transactions within the first two months of 2025. While undervalued listed developers remain the key target, PE firms are increasingly targeting equity investments in privately owned platforms also, as seen with Origis Energy (US) and Bute Energy (UK).

India’s M&A Activity Surges to $5.5B YTD 2025—Already 66% Above Last Year’s Total: India’s M&A activity is accelerating, with domestic IPPs/utilities acquiring PE-backed platforms, whose backers are looking to exit them after years of holding. The trend was underscored by AM Green’s $2.8B acquisition of Greenko (backed by Orix Corp) and ONGC NTPC Green’s $2.3B deal for Ayana Renewable (backed by NIIF, BII, and GGEF). Enerdatics expects more such deals, with Vibrant Energy (backed by Macquarie) emerging as a prime target for domestic buyers.

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