What is the median EV/EBITDA multiple for solar M&A deals?

The median EV/EBITDA multiple for solar is 17.14×, based on 27 disclosed transactions. The interquartile range is 12.09× to 21.99×.

What is the median EV/Revenue multiple for solar M&A deals?

The median EV/Revenue multiple for solar is 9.42×, based on 39 disclosed transactions. The interquartile range is 5.13× to 12.52×.

Who are the active acquirers in solar M&A?

Recent named acquirers include La Caisse de dépôt et placement du Québec, La Caisse de dépôt et placement du Québec, TPG Global, LLC, Nayax Ltd., Sitka Power Inc.. Browse the full deal records for each.

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SolarM&A Valuation Benchmarks

Median multiples, deal-size medians, named acquirers, and per-bracket multiples — based on 43real M&A transactions in the solar space.

17.14× median EBITDA9.42× median revenue$299.3M median deal sizeMarket: growing

State of SolarM&A in 2026

The solar M&A market is currently trading at a median 17.14× EBITDA (interquartile range 12.09×–21.99×) and 9.42× revenue (interquartile range 5.13×–12.52×), based on 43 disclosed transactions at a median deal size of $299.3M. The market trend is currently growing.

Active acquirers include La Caisse de dépôt et placement du Québec, TPG Global, LLC, Nayax Ltd., Sitka Power Inc.. Recent named transactions: Boralex Inc. (2026, $6,285.6M, 16× EBITDA); Innergex Renewable Energy Inc. (2025, $7,067.6M, 14.4× EBITDA); Altus Power, Inc. (2025, $2,339.6M, 20.5× EBITDA).

All figures based on disclosed deals only. Source: SEC filings, EDGAR 8-K/S-4, and verified press releases (43 deals total, 27 with EBITDA, 39 with revenue). Quality grade: green.