Energy & Infrastructure M&A - Law And Practice

1. Market Trends

1.1 Energy and Infrastructure M&A Market

In the past year, Switzerland's energy and infrastructure M&A market has faced notable challenges, including inflation, elevated interest rates, a strong Swiss franc, geopolitical tensions, and the introduction of 39% US tariffs on Swiss goods in August 2025. These factors have extended deal timelines and added complexity to transactions.

Despite these headwinds, the Swiss market has demonstrated resilience. Deal activity in energy and infrastructure rebounded in the second half of 2024 and continued into 2025, fuelled by strong investor interest in renewables, digital infrastructure, and energy security. Compared to global trends, Switzerland's M&A activity has kept pace – and in some areas, outperformed – thanks to its reputation as a stable, safe-haven market and its ongoing commitment to sustainability.