The energy sector recorded 46 mergers and acquisitions in the first half of 2026, according to a survey by KPMG. This number represents a 30,3% decrease compared to the 66 deals closed in the same period of 2025.
The value of transactions also decreased. R$20 billion was traded between January and June of this year, compared to R$26 billion in the first half of 2025, a reduction of 23,1%.
Of the 46 transactions carried out in 2026, nine involved private equity and venture capital funds. The majority of the deals were domestic: 39 transactions occurred between Brazilian companies, while seven involved companies from different countries.
According to Paulo Guilherme Coimbra, a partner at KPMG, the drop in the number of deals was accompanied by a change in the profile of operations. "While generation, bioenergy, and other traditional segments lost momentum, transmission lines doubled the number of operations, and Energy Tech showed strong growth," he states. He adds that a few deals concentrated a significant portion of the value transacted in the first half of the year.
Among the transactions cited by the consultancy are Amaggi's purchase of 40% of FS Bioenergia for approximately R$ 4,9 billion, and the sale of Energisa Transmissão Tocantins e Goiás to Taesa for R$ 1,5 billion. KPMG also highlights the acquisition of 50% of Verene Energia by Grupo Energía Bogotá for R$ 2,8 billion.
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