Powering the Future: The Rising Demand for Lawyers in Renewable Energy M&A

What do rising M&A deals in Europe’s renewable energy sector mean for the legal job market? An article¹ published by the International Financial Law Review (IFLR) caught my eye recently, highlighting a significant uptick in high-value M&A activity in the sector. This surge, alongside what I’ve observed to be a steady influx of new jobs opening up recently, signals exciting opportunities for lawyers specialising in energy and M&A despite a heretofore challenging economic backdrop.

The first half of 2024 has seen several major acquisitions of European renewable energy businesses, including “multi-billion dollar takeovers of power developers” in France and Greece. This trend is particularly noteworthy given the headwinds faced by the industry at the start of the year — geopolitical tensions, high interest rates, and inflationary pressures².

So, what’s driving this ‘renewed appetite’ for deals? The IFLR piece¹ points to several factors. Firstly, there’s a view that cost pressures have depreciated values in the sector, creating opportunities for buyers to capitalise when conditions improve. Secondly, strategic buyers are looking to consolidate their market positions, seeking synergies in development and operation costs.

But perhaps most importantly, there’s a strong belief in the long-term growth prospects of renewable energy. The International Energy Agency forecasts that “renewable energy’s share of power generation in Europe will increase to 61% by 2028 (up from 41% in 2022)”. Furthermore, the electrification of transport, heating, and data centres is expected to drive significant growth in electricity consumption, which will be met with a proportional demand in clean energy sources.

For lawyers, this trend presents a wealth of opportunities. As deals become more frequent and complex, law firms will need to bolster their teams with specialists who can navigate the unique challenges of renewable energy M&A. Key skills that are already in hot demand include expertise in energy regulations, experience with project finance and development, and a deep understanding of the renewable energy market.

As inflationary pressures ease and interest rates potentially come down, we could see this trend gain even more momentum. To position yourself for a lucrative and fulfilling career at the forefront of the energy transition, now is the time to consider specialising in renewable energy M&A.

At Wadkins Associates, we’re uniquely positioned to connect talented lawyers with firms leading the charge in this exciting sector. If you’re interested in exploring opportunities in renewable energy law, we’d be delighted to discuss how we can help shape your career trajectory in this trending market.

 

¹ Higson, Ben, et al. “European Renewable Energy M&A Expected To See Uptick,” IFLR, September 26, 2024, https://www.velaw.com/insights/european-renewable-energy-ma-expected-to-see-uptick/.

 ² Feingold, Spencer. “‘No shortages of headwinds’: Chief economists detail the hurdles facing the global economy,” World Economic Forum, January 15, 2024, https://www.weforum.org/agenda/2024/01/chief-economists-headwinds-facing-global-economy/.