M&A Quarterly Market Report: Q3' 21 Review – Utilities

The utilities industry is undergoing consolidation with multiple large players, which is driving mergers and acquisitions. The gross transaction value in 2021 (until the end of September) was the highest in the last five years. SPAC activities shaped out well in 2021 in technology-centric energy transition assets, particularly in the space of EV and batteries. Global transformation to achieve net zero emission and focus on ESG will encourage M&A deals and other project investment decisions in utilities.