February 27, 2018 / 12:03 AM / a year ago

Global utility, power deals at eight-year high in 2017 - report

LONDON, Feb 27 (Reuters) - The value of global power and utilities transactions hit an eight-year high of $200.2 billion last year, as energy firms sought new growth opportunities amid low energy prices, a report by consultancy firm Ernst & Young said on Tuesday.

* The value of global deals last year was 4 percent higher than in 2016 and renewables deals, such as wind and solar, accounted for $42.8 billion of the total, the report said.

* In the Americas, stretching from Canada to Chile, deal value reached $102.2 billion, partly driven by a 71 percent increase in the value of deals in the renewable power sector which reached $14.2 billion in 2017.

* European deal value was similar to 2016 levels at $50.3 billion.

* European deal value was curbed by low electricity prices and flat demand, the report said.

* In the Asia-Pacific region, total deal value rose by 14 percent to $46.7 billion, driven by a 72 percent increase in the value of renewable deals at $13.5 billion. (Reporting by Susanna Twidale; Editing by Edmund Blair)

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