Iberia: Trend Report H1 2021
Hard-hit by the COVID-19 crisis, Spain and Portugal are showing signs of recovery, underpinned by international interest and high-growth, innovative segments of the energy sector
Appetite for renewables assets propels early-year Iberian activity
Iberia suffered considerably as the COVID-19 pandemic took hold in 2020 – but the peninsula’s outlook is already beginning to brighten. While Spain’s economy was one of the hardest hit across Europe last year, the country’s central bank has raised its 2021 growth forecast to 6.2%, as a declining number of infections coupled with a successful vaccine drive stimulate activity. Portugal is also recuperating, albeit more slowly. Its GDP is projected to increase by 3.7% in 2021 and 4.9% in 2022, according to the Organisation for Economic Co-operation and Development.
This improving outlook seems to be reassuring Iberian dealmakers. In H1 2021, the region recorded 320 deal announcements worth €31.3bn in aggregate – up 54.6% in value terms compared to H1 2020. Deal volume, meanwhile, also registered a leap, increasing by 76 deals (31%) from the same period last year.
To find out more, download the trend report below.
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