The US power industry saw a drop of 37% in overall deal activity during May 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 29 deals worth $497.39m were announced in May 2020, compared to the 12-month average of 46 deals.

M&A was the leading category in the month in terms of volume with 18 deals which accounted for 62.1% of all deals.

In second place was venture financing with nine deals, followed by private equity with two transactions, respectively accounting for 31.03% and 6.9% of overall deal activity in the country's power industry during the month.

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In terms of value of deals, M&A was the leading deal category in the US power industry with total deals worth $353.8m, while venture financing and private equity deals totalled $143.59m and $0m, respectively.

US power industry deals in May 2020: Top deals

The top five power industry deals accounted for 88.3% of the overall value during May 2020.

The combined value of the top five power deals stood at $439.2m, against the overall value of $497.39m recorded for the month.

The top five power industry deals of May 2020 tracked by GlobalData were:

1) SolRiver Capital's $200m asset transaction with

2) The $84m venture financing of Commonwealth Fusion Systems by Breakthrough Energy Ventures, Devonshire Investors, Eni Next, Future Ventures, HostPlus, Khosla Ventures, Moore Strategic Ventures, Safar Partners, Schooner Capital, Starlight Ventures, Equinor, Temasek Holdings (Private) and The Engine

3) Spruce Finance's $75m asset transaction with Clearway Energy

4) The $70m asset transaction with Repowering Partnership II by Clearway Energy

5) ArcTern Ventures, Capricorn Investment Group and Incite Ventures’ venture financing of Span.IO for $10.2m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term 'acquisition' refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.