The value marked a decrease of 12.8% over the previous month and a rise of 22.1% when compared with the last 12-month average of $11.1bn.

In terms of number of deals, the sector saw a drop of 14.8% over the last 12-month average with 132 deals against the average of 155 deals.

In value terms, North America led the activity with deals worth $7.59bn.

The value marked a decrease of 12.8% over the previous month and a rise of 22.1% when compared with the last 12-month average of $11.1bn.

In terms of number of deals, the sector saw a drop of 14.8% over the last 12-month average with 132 deals against the average of 155 deals.

In value terms, North America led the activity with deals worth $7.59bn.

Power industry deals in November 2019: Top deals

The top five power deals accounted for 90.5% of the overall value during November 2019.

The combined value of the top five power deals stood at $12.27bn, against the overall value of $13.55bn recorded for the month.

The top five power industry deals of November 2019 tracked by GlobalData were:

1) Canada Pension Plan Investment Board’s $6.1bn private equity deal with Pattern Energy Group

2) The $4.52bn acquisition of Eneco Holding by Chubu Electric PowerInc and Mitsubishi

3) Seaspan’s $750m acquisition of APR Energy

4) The $608m asset transaction with American Water WorksInc by Liberty Utilities

5) Utico FZC’s acquisition of Hyflux for $293.07m.

Pinnacle West Capital subsidiary Bright Canyon Energy has acquired ownership stakes in two wind farms developed by independent energy company Tenaska.

The two projects are currently under construction and are expected to be fully operational this year.

According to the agreement, Bright Canyon acquired indirect minority stakes in both Tenaska Clear Creek Wind, which owns Tenaska Clear Creek Energy Center in Missouri, and Nobles 2 Power Partners, owner of the Nobles 2 wind farm in Minnesota.

Norwegian energy company Equinor has acquired 6.5 million shares (5.2% stake) in Scatec Solar for a consideration of Nkr754m ($84m).

Under the deal, Equinor has agreed to pay Nkr116 ($12.93) per Scatec Solar share.

Equinor New Energy Solutions executive vice-president Pål Eitrheim said: “Through this acquisition of additional shares in Scatec, Equinor further strengthens its exposure to the fast-growing solar energy sector.

A total of 33 deals worth $7.59bn were announced in November 2019, compared to the 12-month average of 50 deals.

M&A was the leading category in the month in terms of volume with 20 deals which accounted for 60.6% of all deals. In second place was venture financing with nine deals, followed by private equity with four transactions, respectively accounting for 27.3% and 12.1% of overall deal activity in the country’s power industry during the month.

China’s State Grid International Development (SGID) has signed an agreement to acquire a 49% stake in Oman Electricity Transmission (OET). The fee for the transaction is believed to be just under $1bn, giving OET an initial valuation of $2bn.

The deal is part of China’s “Belt and Road” initiative to invest in infrastructure projects in Asia and the Middle East.

The value marked a decrease of 29.9% over the previous month and a drop of 20.6% when compared with the last 12-month average, which stood at $9.26bn.

Comparing deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $5.23bn. At the country level, The Netherlands topped the list in terms of deal value at $4.52bn.