Horizontal
- Regional roll‑ups to stabilise utilisation and procurement.
- Portfolio synergy via shared engineering and sales channels.
- Specialist private capital backing buy‑and‑build platforms.
Deal Watch
Energy transition supply chain consolidation
Mapping horizontal and vertical integration strategies for battery, grid and hydrogen participants navigating volatility.
Why consolidation now
Policy incentives, commodity swings and scale economics are pushing manufacturers and developers to secure upstream and downstream positions.
Vertical
- Upstream raw materials to reduce input volatility.
- Downstream integration for project pipeline and service revenue.
- Strategic partnerships with utilities and OEMs.
How buyers are executing
We highlight diligence focus areas and deal structures we see in market.
Diligence priorities
- Input price passthrough, warranty tails and customer concentration.
- Interconnection timelines and regulatory dependencies.
- Unit economics vs. capacity expansion plans.
Structuring
- Earn‑outs tied to production and interconnection milestones.
- Minority JV structures to align incentives with strategic partners.
- Private credit/convertible solutions for growth plans.