Europe’s oil and gas majors again led the way in terms of green and renewable energy sector deal-making among oil producing peers in Q2, according to Evaluate Energy’s latest M&A report.
“With the energy transition in mind, traditional E&P companies are heavily engaged in deal-making for renewable projects to diversify portfolios,” said Mark Young, report co-author and Senior Oil and Gas Analyst at Evaluate Energy.
“Over the past few years, intense and consistent investor pressure over carbon usage and climate goals has prompted European producers into leading the way. The usual suspects showed up again in Q2, with BP, Equinor, Repsol and TotalEnergies all featuring in our report thanks to deals covering wind, solar and electric vehicle sectors.”
Evaluate Energy’s quarterly M&A report expanded in Q1 to include a review of green and renewable energy sector deals by companies historically associated with oil and gas production. The Q2 report is now available to download free here.
The report includes details of:
- BP and Repsol deals for U.S. renewable sector projects
- BP’s second electric vehicle-related deal in as many quarters
- Three separate Equinor deals, including a solar power acquisition in Poland
- TotalEnergies’ wind farm deal in Taiwan
The report also includes the usual rundown of this quarter’s major upstream oil and gas deals. A total of $35 billion was spent in Q2 in a series of multi-billion-dollar U.S. mergers.