Morgan Stanley has emerged as the leading financial adviser in the power sector mergers and acquisitions (M&A) market in 2025. The bank supported a record 24 advisory deals, for an astounding $63.4 billion. This accomplishment not only enhanced its stature as a technology leader but crowned it as the ultimate champion of value and volume rankings. This accomplishment demonstrates the depth of Morgan Stanley’s significant power sector reach and expertise.
JPMorgan Chase & Co. was immediately behind Morgan Stanley, second by value with $63 billion of deals from 16 transactions. The race between these two financial heavyweights highlights the competitive, fast-paced environment the power sector M&A space has experienced this year. In fact, Moelis & Company was the third most active advisor by deal value, advising on $45.5 billion in transaction value.
According to Aurojyoti Bose, a lead analyst with GlobalData’s Verdict Network, understanding this competitive landscape has become more important than ever.
“Morgan Stanley emerged as the leading financial adviser in the power sector M&A market in 2025, topping both the value and volume rankings. The bank advised on 24 deals worth $63.4bn, narrowly outperforming JPMorgan, which ranked second by value with $63bn across 16 transactions.” – Aurojyoti Bose
Rothschild & Co. took second in volume as an advisor on 20 deals. It was an impressive showing of their abilities, despite being out-run in total value by the market leaders at the top. Barclays and Lazard rounded out the top 5, producing 18 and 16 advised deals respectively. This distribution of advisory roles is a reflection of the hyper-competitive market for financial advisers working on the power sector’s transition.
Morgan Stanley takes the top spot in total deal value, flexing its muscles by advising on 11 billion-dollar deals. At the same time, JPMorgan had a winning hand, claiming 10 similar transactions. This combined performance gives Morgan Stanley the ability to invest in further honing their competitive advantage in a rapidly changing landscape.
“While Morgan Stanley advised on 11 billion-dollar deals, JPMorgan advised on ten. In the volume rankings, Rothschild & Co secured the second position with 20 deals, highlighting intense competition among the top advisers in the sector.” – GlobalData
The power sector is changing at an extraordinary pace while grappling with unprecedented challenges. During the upcoming transformation, financial advisers will be indispensable allies for making successful transactions from cities and rural areas alike. The list for 2025 points to a strong year for M&A activity in this sector.