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Market intelligence and renewable energy transaction analysis firm Enerdatics predicts that new annual contracted capacity in Europe will reach 10 GW by the end of 2024. In France, PPAs total 0.5 GW of capacity this year for a median duration of 20 years, compared to 10 years in Germany, Spain and the UK.

By region, green M&A rose 80% in the US, to $40,000 mn, surpassing Europe, which stayed at $32,000 mn. According to Enerdatics, in Spain the value of operations fell by 24% "due to the complex regulations for permits for new facilities", but they could rebound in 2023.

Enerdatics believes that constructive dialogue between developers, financiers and the administration will be critical to navigate through the various obstacles en route to positioning the US as one of the world’s leading offshore wind markets.

PE firms haveAccording to Enerdatics, farm-ins have become the preferred mode of entry of funds into large-scale, capital-intensive renewable energy projects, primarily due to the lower development uncertainty associated with those that have been reasonably devoid of risk by the developer.

M&A deal value in Asia Pacific increased by 11% year-on-year to $19 bn in 2022, primarily due to a surge in onshore wind and geothermal M&A activity. The latest data from Enerdatics, showed India and Australia led the M&A activity with a 72% rise in onshore wind deals to $7.4bn, driven by PE firms, oil majors and large-integrated utilities.

Despite automakers' delayed production plans and slowing electric vehicle growth, battery startups raised at least $5.2 billion from institutional investors this year, including $4.9 billion in August and September, according to an Automotive News analysis of fundraising rounds.