U.S. Renewable Energy M&A: Review of 2023 and Outlook for 2024
Entering 2023, renewable energy mergers and acquisitions (“M&A”) faced significant headwinds, including sustained high interest rates, inflationary pressures, supply chain constraints, government support program uncertainty and grid reliability. As a result, renewable energy deal volume declined significantly in 2023 from 2022 levels. Despite these challenges, investor optimism grew during the back half of the year with easing supply chain bottlenecks and legislative clarity on the $369 billion energy and climate spending earmarked by the Inflation Reduction Act (“IRA”).
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