Analysis of the key themes driving M&A activity reveals that environmental sustainability accounted for 304 power deals announced in Q1 2024, worth a total value of $28.1bn. The $7.3bn acquisition of NuStar Energy by Sunoco was the industry’s largest disclosed deal. GlobalData’s Power Industry Mergers and Acquisitions Deals report for Q1 2024 uncovers key trends behind the power market M&A deals and helps gain a comprehensive understanding of the disruptive themes driving most notable to deals. Buy the report here.

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In value terms, environmental sustainability-related deal activity increased by 15% in Q1 2024 compared with the previous quarter’s total of $24.5bn and rose by 18% as compared to Q1 2023. Related deal volume decreased by 10% in Q1 2024 versus the previous quarter and was 6% lower than in Q1 2023.

The top-ranked financial advisors supporting these M&A deals in Q1 2024 were Deloitte Touche Tohmatsu; KPMG International Coop; Lazard with 3, 3, 3 deals respectively.

The top-ranked legal advisors supporting these M&A deals in Q1 2024 were Vinson & Elkins; White & Case; Clifford Chance with 8, 4, 3 deals respectively.

For further understanding of GlobalData's Power Industry Mergers and Acquisitions Deals by Top Themes in Q1 2024 – Thematic Intelligence, buy the report here.

This content was updated on 23 April 2024

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

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.