Energy & Power

Sector Spotlight

Leadership spotlight

The Little-Known Financing Tool Gaining Momentum Across the Energy Sector

As oil and gas M&A activity has surged over the past two years, a relatively new financing structure has quietly moved from the margins of the market to the center of some of its most competitive deal processes.

Leadership Spotlight

How Data Centers Are Shaping the Future of Energy Consumption

The explosive growth in data centers, coupled with infrastructure and power constraints, presents both challenges and opportunities for a myriad of sectors.

Markets

The Upstream M&A Market Is Stronger Than the Headlines Suggest

With volatile front-end oil prices, an escalating conflict in the Middle East, and a closing window on favorable antitrust conditions, the upstream energy market is navigating a complex set of conditions heading into the second half of 2026. Yet dealmaking has not slowed. If anything, it has accelerated.

Markets

Midstream’s Most Active Period in Years

While volatile oil prices have introduced uncertainty across the energy sector, midstream is experiencing something closer to the opposite effect.

Policy

The Future of Carbon Removal, According to the People Building It

Jefferies hosted CEOs from fourteen leading carbon removal companies. Their perspectives offer a candid look at the sector’s key risks — and how winners could emerge from this moment of uncertainty.

Core Coverage & Services

We cover and advise companies on mergers and acquisitions and debt and equity capital issuances. Key focus areas are outlined below. A comprehensive list is available upon request. We invite you to contact us to discuss your specific requirements.

Energy Sector Transformation

The energy sector is undergoing fundamental transformation driven by the transition to renewable energy, technological innovation, evolving energy security dynamics, and changing investor capital allocation. From renewable development and energy storage to traditional energy optimization and energy transition infrastructure, opportunities span the entire energy value chain.

Jefferies combines deep energy sector expertise, global dealmaking capabilities, and senior-level engagement to guide energy companies through the energy transition, navigate complex M&A, access capital markets, and capitalize on emerging opportunities

View other tabs to learn about how we can help you achieve your goals.

Current Themes

Energy Transition: Renewable Growth & Investment. Record renewable capacity additions and investment in grid modernization infrastructure.
Energy Security: Traditional Energy Demand. Geopolitical factors driving sustained demand for reliable, diverse energy sources.
Technology: Storage & Grid Tech. Battery storage and smart grid technologies critical to energy transition success.

Featured Transactions

All Recent Transactions

Power

Mar-2026
Pending

$5,000,000,000

Sale of Gas Generation Assets to LS Power

Joint Financial Advisor
Power
Jefferies Serves as Financial Advisor to Constellation Energy (NASDAQ: CEG) on $5.0 Billion Power Portfolio Sale

Jefferies served as sell‑side financial advisor to Constellation Energy, the largest independent power producer in the U.S., on its $5.0 billion sale of a 4.4 GW PJM‑based gas‑fired generation portfolio to LS Power

The five‑asset portfolio (Bethlehem, York 1, York 2, Hay Road, Edge Moor) formed part of Constellation’s commitment to divest select legacy Calpine assets following its recent acquisition of Calpine

The mandate represents a strong win for both Jefferies and the Jefferies–SMBC partnership, as Constellation is a joint coverage account

The transaction, valued at approximately $1,142/kW, further solidifies Jefferies and the PUI team as clear leaders in power generation M&A, reinforcing our dominant position in PJM thermal generation advisory
Energy

Aug-2025

$3,100,000,000

Acquisition of Vital Energy, Inc.

Lead Financial Advisor
Energy
Jefferies Served as Lead Financial Advisor to Crescent Energy (NYSE: CRGY) in a $3.1 Billion Acquisition of Vital Energy (NYSE: VTLE)

Jefferies served as Lead Financial Advisor to Crescent Energy in a $3.1 billion all-stock transaction to acquire Vital Energy, Inc.

The combined business will be a top 10 independent energy company, with a consistent and free cash flow focused strategy and flexible capital allocation across large-scale positions in premier basins.

Jefferies has been the #1 advisor on M&A transactions in the energy sector for the ten-year period ending August 25, 2025, per Dealogic.
View Press Release
Energy

Dec-2024

$1,116,000,000

Constellation Recapitalization

Financial Advisor to the Company
Energy
Jefferies Serves as Financial Advisor to Constellation Energy (NASDAQ: CEG) on $5.0 Billion Power Portfolio Sale

Jefferies served as sell‑side financial advisor to Constellation Energy, the largest independent power producer in the U.S., on its $5.0 billion sale of a 4.4 GW PJM‑based gas‑fired generation portfolio to LS Power

The five‑asset portfolio (Bethlehem, York 1, York 2, Hay Road, Edge Moor) formed part of Constellation’s commitment to divest select legacy Calpine assets following its recent acquisition of Calpine

The mandate represents a strong win for both Jefferies and the Jefferies–SMBC partnership, as Constellation is a joint coverage account

The transaction, valued at approximately $1,142/kW, further solidifies Jefferies and the PUI team as clear leaders in power generation M&A, reinforcing our dominant position in PJM thermal generation advisory

Our Insights

All Insights

What the Global Political Shift Means for Energy

Boardroom Intelligence
Revamping the Grid: How AI and Renewables Are Reshaping US Energy Infrastructure

Boardroom Intelligence
Ralph Eads on Achieving a Sustainable Energy Future That Doesn’t Sacrifice Supply

Boardroom Intelligence
Inside the Mega Deals: What’s Driving Oil and Gas Consolidation?

The Big Picture

Upcoming Events

Past Events

Sector Specialization	Technical Expertise	Global Infrastructure	Project Finance	Leadership Insight
120+ dedicated Energy & Power professionals globally, with deep expertise across all energy segments.	In-house technical and engineering specialists advising on project economics and feasibility.	Global network across major energy markets enabling seamless cross-border transaction support.	Integrated capital markets, lending relationships, and project financing expertise.	Leading advisor on energy transition strategies and renewable infrastructure investments.

Important Message – Fraud Alert / Alerta de Fraude / Alerte à la Fraude

Important Message – Fraud Alert / Alerta de Fraude / Alerte à la Fraude

Português

Español

Français

Korean

South Korea / Financial Supervisory Service

Our Services

Our Insights

About

Careers

Investor Relations

Energy & Power

Sector Spotlight

The Little-Known Financing Tool Gaining Momentum Across the Energy Sector

How Data Centers Are Shaping the Future of Energy Consumption

The Upstream M&A Market Is Stronger Than the Headlines Suggest

Midstream’s Most Active Period in Years

The Future of Carbon Removal, According to the People Building It

Core Coverage & Services

Energy Sector Transformation

Current Themes

Representative Coverage Areas

Representative Capabilities

Representative Capabilities

Representative Capabilities

Unlocking opportunity starts with expert insight.

Featured Transactions

Our Insights

Upcoming Events

Power, Energy, Utilities, Clean & Pipes Conference

Biotech on the Beach Summit

Asia Forum

Pan-European Mid-Cap Conference