According to a recent study by DealWatch, Renewable Energy Production M&A has been on a fast growth path in Emerging Europe: in the first three quarters of 2010, the number of M&A transactions in the sector in CEE and SEE was approximately 4 times as much as in the whole year of 2007, representing an average annual growth rate of 60%. In the same period, the total value of deals grew to EUR 363 million from EUR 67 million. The very high value in 2008 was the result of a few large deals, like the wind farm project acquisitions by Iberdrola and CEZ in Romania and the privatisation of several hydroelectric and geothermal power plants in Turkey.