Asian renewable energy deals triple to $13.6bn in 2021

Asian renewable energy deals triple to $13.6bn in 2021

The deal volume for renewable energy assets in Asia more than tripled to $13.6 billion in 2021, as the number of transactions surged by 53% year-on-year to 75. Significantly, large corporate mergers in the solar energy sector fuelled the considerable increase in value, reported Enerdatics, a research company.

The largest deal in the region was Adani Green Energy’s $3.5 billion purchase of India’s SB Energy Holdings. The deal involved 1.4GW of operational solar capacity and 2.7GW of capacity under development. Another significant acquisition was EDP Renewables’ $880 million purchase of Singapore-based solar developer Sunseap, which offers a build, own, and operate strategy for rooftop, ground-mounted utility-scale, and floating solar PV projects. The company has a solar development pipeline of 4.8 GW.

The solar sector dominates the renewables mergers and acquisitions (M&A) landscape in Asia, occupying a 66% share of the total deal volume and a 78% share of the aggregate deal value in the region, in 2021, said Enerdatics.