Blog — 9 May, 2023
Insight Weekly: Renewables lead capacity additions; bank mergers of equals up; nickel IPOs surge
By Sarah Cottle
Today is Tuesday, May 09, 2023, and here’s your weekly selection of essential intelligence on financial markets and the global economy from S&P Global Market Intelligence. Subscribe to be notified of each new Insight Weekly.
In this edition of Insight Weekly, we examine the outlook for the US power grid. Much like 2022, planned US capacity additions in 2023 are expected to be dominated by intermittent renewable resources, with more than 45 GW of intermittent solar generation alone planned to come online, according to an analysis of S&P Global Market Intelligence data. In its most recent Regional Transmission Expansion Plan, PJM Interconnection noted that solar made up 66% of the generation in its interconnection queue as of the end of 2022. In the Midcontinent ISO region, utilities are retiring fossil capacity in exchange for investments in renewable energy resources. But those exchanges are not happening fast enough to replace all the generation coming offline, making MISO "somewhat an area of concern," said Steve Piper, director of energy research for S&P Global Commodity Insights.
In what is shaping up to be a historically slow year for US bank M&A, merger of equals (MOE) makes up an unusually large portion of the deals announced so far in 2023. Banks have announced three MOEs through mid-April, compared with four transactions throughout 2022 when MOEs hit a five-year low. Investment bankers expect more MOE announcements this year as the wider dealmaking environment remains weak.
Indonesia's nickel mining boom has put global nickel IPOs on track for a multiyear high. Companies engaging in nickel mining and processing announced IPOs that aimed to raise an aggregate $1.36 billion in the first three months of 2023, the highest amount for the first quarter of any year, according to an analysis of Market Intelligence data.
The Big Number
Trending
—Listen to the S&P Global Market Intelligence’s Podcast and follow @EconomicsRisk on Twitter.
Additional Insights from S&P Global Market Intelligence
Increase your competitive edge with essential insights delivered straight to your inbox. We offer complimentary newsletters on a wide variety of topics to help you stay on top of what’s moving the markets, separating the immaterial from the invaluable. Review our newsletters and sign up here.
IHS Markit is now part of S&P Global.
Compiled by Roma Arora.
Theme