Renewable deals get powered up
MUMBAI : Goldman Sachs-backed ReNew Power’s successful attempt at a public listing in the US has rekindled hopes among clean energy firms of a brighter future ahead after the covid-induced turbulence of last year.
Deal activity in the renewable energy space grounded to a near halt as developers struggled to complete projects due to strict curbs placed since March 2020 to contain the pandemic while investors turned wary.
While the first three months of 2020 saw eight merger and acquisition deals worth $1.2 billion, the figure plunged to just $234 million across 10 transactions for the rest of the year, showed data from financial market data provider Refinitiv.
