According to PTI, the report titled Volatility and opportunity: Energy M&A in Asia-Pacific by law firm Eversheds in collaboration with deal tracking firm Merger market highlighted that however the Asia-Pacific energy M&A logged a 33 per cent drop in value terms year-on-year while the number of deals (196) were similar to 2015.
Market-wise, China maintained its top spot in 2016, accounting for 36 per cent of deals and 31 per cent of value.
India had the second-largest year-end totals, accounting for 18 per cent of deals and 22 per cent of value, followed by Australia with corresponding figures of 11 per cent and 20 per cent, the report added.
The Indian government has established clean energy targets such as 175 gw of renewable energy, or 15 per cent of total capacity, by 2022, of which 100 gw is expected to come from solar power.
Meanwhile, renewable energy transactions accounted for over half of Asia-Pacific energy M&A deals in 2016.
