After a slow year for buying and selling power projects in 2013, momentum is likely to rise again according to PwC.
Last year the total value of power and renewables deals was down 10% year on year, finds PwC’s annual Power and Renewables Deals report released today.
But when it came to the Asia Pacific region and the renewables sector alone, they bucked the trend. Renewables deal value rose 25% and the value of Asia Pacific deals was up 6%.
The PwC report suggests this underlying trend for renewables deals will continue as topsy-turvy government policy in Europe over the last few years quietens down.
Norbert Schwieters, global power and utilities leader at PwC said: “Some encouraging trends lead us, on balance, to anticipate upward deal momentum in the year ahead. After a year in which considerable sector uncertainty has affected deals, we anticipate greater confidence during 2014.”
The next year could also see a spate of “mega-mergers” in the United States’ power sector suggests the report, which could pump up the value of worldwide power and renewables M&A.