Merger and acquistion (M&A) activity within the renewable energy sector surged to an increase of over 70 percent throughout 2010 on the 260 deals completed in 2009. According to KPMG's annual review of M&A deals in the sector, this trend has continued in 2011, with a record 141 renewable deals totaling $11.2 billion in value announced in the first quarter of 2011. Iberdrola's pending 20 percent stake bid for Iberdrola Renovables SA is the biggest deal of the year at €2.6 billion ($3.74 billion), followed by Electricité de France SA's €1.5 billion ($2.16 billion) bid for EDF Energies Nouvelles SA (50 percent stake).