Deal activity by volume related to ESG increased by 16% year-on-year in 2023 in the power industry  

Analysis of the key themes driving deal activity reveals that ESG accounted for 9,821 power deals between 2019 and 2023, worth a total value of $1t, according to GlobalData’s Deals database covering mergers and acquisitions, private equity, venture financing, equity offerings and partnerships.  

The $7.5bn acquisition of 100% stake in Evoqua Water Technologies by Xylem in an acquisition deal was the largest disclosed deal in 2023, while the $24.3bn investment in Baihetan Hydropower Plant by China Three Gorges was the largest disclosed deal in 2022.  

In volume terms, ESG related deal activity increased by 16% year-on-year in 2023 and by 310% year-on-year in 2022.  

Asset transaction accounted for the highest number of deals in the last five years, with 3,591 deals, followed by Acquisition (1,944 deals), and Partnership (1,337 deals).

The top financial advisors supporting deals related to ESG in the power industry in the last five years in terms of value were BofA Securities, BNP Paribas, Goldman Sachs, Lazard, and Rothschild.

The top legal advisors supporting deals related to ESG in the power industry in the last five years in terms of value were Clifford Chance, Weil, Gotshal & Manges, Davis Polk & Wardwell, Kirkland & Ellis, and Latham & Watkins.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.  

GlobalData’s Deals database provides comprehensive coverage across industries tracking market activity of global mergers & acquisitions, including asset acquisitions/divestments; private equity deals (PE); venture finance deals (VC); equity offerings, including IPOs, follow-on offerings, and private placements; debt offerings, including private placements, ESG bonds and loans; partnerships; and licensing agreements.  

 This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumored deals.