PwC: Romania’s M&A market dominated by renewables in Q3

The mergers and acquisitions (M&A) market in Romania reached a total value of approximately EUR 1.5 billion in the third quarter of 2025, according to a PwC Romania analysis, signed by George Ureche, partner.

Compared to the same period in 2024, the market recorded an increase of over 50%, excluding the impact of the EUR 700 million transaction between PPC and Evryo, which would have generated a negative base effect, Ziarul Financiar reported.

The energy sector dominated M&A activity, generating over half of the total market value (55%), through transactions that mainly targeted photovoltaic and wind farms, including projects integrating battery energy storage (BESS) capacities.

In volume, the market recorded 61 transactions, 9 transactions less than last year, of which 15 were in the energy sector.

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