S&P Global Market Intelligence’s latest data analysis found private equity and venture capital investments in the battery energy storage system, energy management and energy storage sector so far in 2024 have exceeded 2023’s levels and are on pace to reach one of the highest annual totals in five years.
Key highlights from the analysis include:
- In the year to Aug. 20, aggregate deal value stood at $17.86 billion globally compared with the $16.17 billion recorded during full year 2023. The number of announced deals totaled 151 transactions as of Aug. 20.
- For the year through Aug. 20, global deal value was the highest at the end of Q2/24, at $9.91 billion, up from $3.15 billion for the same quarter in 2023.
- Largest battery energy storage system deals:_x000D_
- The industrial sector secured the most battery energy storage system deals, followed closely by the energy and utility sector.
- In the largest transaction, battery storage company NineDot raised $225 million in a round of funding led by Manulife Investment Management, with participation from existing backer The Carlyle Group.
_x000D_
_x000D_
_x000D_
_x000D_
The full analysis is available online: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-equity-targets-battery-energy-storage-driven-largely-by-evs-renewables-83158660.
