Renewables deals helped push global power and utilities transactions to an eight-year high, with most value attributed to European deals, according to an EY report.

Global power and utilities mergers and acquisitions (M&A) transactions reached $200.2bn from 516 deals in 2017, according to the consultancy’s Power Transactions and Trends study.

The growth was largely driven by a 28% rise in renewables deals, to the value of $42.8bn