Mercom Capital Group Reports Second Quarter 2012 Funding and M&A Activity for the Wind Sector

VC funding and M&A activity down compared to last quarter 

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 MW). 

For a complete list of Q2 2012 transactions in the wind sector, visit: http://www.mercomcapital.com/cleanenergyreports.php. 

About 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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