VC funding and M&A activity down compared to
Mercom Capital Group, llc, a
global communications and consulting firm, today released its report on funding
and merger and acquisition (M&A) activity for the wind sector during the second
quarter of 2012.
Venture Capital (VC) funding in
the second quarter of 2012 amounted to just $17 million in three deals compared
to a strong first quarter where $240 million went into 12 deals. Top VC deals
this quarter included $9.8 million raised by ReGen Powertech and $7.5 million
raised by Southwest Windpower, both manufacturers of wind turbines.
Announced large-scale project
funding in Q2 2012 totaled $5.4 billion in 23 deals. Of that, $4 billion went
to onshore projects and $1.4 billion went to offshore projects. The top
announced large-scale project funding deal this quarter was the $741 million
raised by Colruyt for its 216 MW Northwind offshore wind farm, followed by $662
million raised by Lincs Wind Farm Limited for its 270 MW offshore wind farm,
and $650 million raised by Terra-Gen Power for its 300 MW Alta Wind VII &
IX wind projects. Other top project funding deals included $444 million raised
by Invenergy for its 200 MW California Ridge Wind Energy Project, and $379
million raised by Iberdrola and Neoenergia for 10 wind farms totaling 288 MW.
Large-scale project funding
investors with multiple deals this quarter included BNDES, KfW IPEX-Bank, Union Bank, Bank of Tokyo-Mitsubishi UFJ, BayernLB, EBRD, Lloyds, Rabobank and Santander.
Corporate Merger and Acquisition
(M&A) activity in Q2 2012 amounted to $93 million in five transactions
compared to $872 million in 11 transactions in Q1 2012. Disclosed M&A
transactions this quarter were the $60 million acquisition of Suzlon (Suzlon Energy Tianjin Limited), a wind turbine
manufacturer, by China Power New Energy
Development Co. and the $33 million acquisition of Tellhow Wind Power, a
wind blade manufacturer, by Simomatech.
There were 17 project M&As announced in Q2
2012 amounting to $705 million in six disclosed transactions. Top project
M&A transactions were the $301 million acquisition of Agaoglu Group’s two
wind farms (126 MW) by Dogan Sirketler Grubu Holding, and the $174 million
acquisition of AGL Energy’s Hallett 5 wind farm (52.5 MW) by Eurus Energy.
Other top transactions included the $85.5 million acquisition
of a 49 percent stake in each of four AES Corporation wind farms (120 MW) by
Sembcorp, the $62 million acquisition of the Dobrich wind farm (40 MW) by
LUKERG Bulgaria, and the $42 million acquisition of AES Southern Europe
Holdings’ St. Patrick wind farm and three InnoVent projects by Boralex (90.5
For a complete list of Q2
2012 transactions in the wind sector, visit: http://www.mercomcapital.com/cleanenergyreports.php.
Mercom Capital Group
Mercom Capital Group, llc,
is a global communications and consulting firm focused exclusively on clean
energy and financial communications. Mercom’s consulting division advises
cleantech companies on new market entry, custom market intelligence and overall
strategic decision-making. Mercom’s consulting division also delivers highly
respected industry market intelligence reports covering Solar Energy, Wind
Energy and Smart Grid. Our reports provide timely industry happenings and
ahead-of-the-curve analysis specifically for C-level decision making. Mercom’s
communications division helps clean energy companies and financial institutions
build powerful relationships with media, analysts, government decision-makers,
local communities and strategic partners. For more information about Mercom
Capital Group, visit: http://www.mercomcapital.com.
To get a copy of Mercom’s popular market intelligence reports, visit: http://mercomcapital.com/market_intelligence.php.
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