Strong project M&A activity, 12 GW in new projects announced
Mercom Capital Group, llc, a global clean energy communications and
consulting firm, released its report on funding and merger and acquisition
(M&A) activity for the wind sector during the first quarter of 2014.
Wind venture capital (VC) funding fell to $32 million compared to $93
million in Q4 2013. Total funding in the wind sector came in at $10.5 billion
in Q1 2014, including VC funding, public market financing, debt financing, and
announced project funding deals.
The largest VC deal in the wind sector in the first quarter was by 3sun
Group, a company that installs and maintains offshore wind turbines, which raised
$16.7 million from Business Growth Fund.
Announced large-scale project funding in Q1 2014 totaled $7.2 billion in 29
deals compared to $4.9 billion in 32 deals in Q4 2013. There were a total of 20
investors that participated in multiple project funding deals this quarter. The top project funding deal
this quarter was the $1.47 billion received by Typhoon Offshore for its 600 MW
Mercom also tracked more than 12 GW of new project announcements globally
this quarter in various stages of development.
There were six M&A transactions in Q1 2014, one of which disclosed
amounts totaling $419 million.
Project acquisitions in the first quarter totaled $3.8 billion compared
to $2 billion in Q4 2013. The Top 5 largest
project acquisitions by disclosed amount were led by the investment group La
Caisse, which purchased a 25 percent share of the 630 MW London Array 1 wind project
for $1.1 billion. That was followed by Brookfield Renewable Energy Partners’
purchase of the 321 MW Bord Gais Energy wind project portfolio for $960
million, Green Investment Bank and Marubeni Corporation’s 50 percent stake in
the 210 MW Westermost Rough offshore wind project for $832 million, Copenhagen
Infrastructure Partners’ purchase of a 67 percent economic stake in a 900 MW
offshore grid connection for wind projects for $526 million, and the Green
Investment Bank’s purchase of a 10 percent stake in the 576 MW Gwynt y Mor offshore
wind project for $366 million.
Of the disclosed project acquisitions in Q1 2014, there were nine project
developers that acquired wind projects, 10 investment funds, two independent
power producers, and two utilities.
There are 142 companies, 181 projects and 78 investors covered in this report.
The report also includes 41 charts and tables.
To learn more about
the report, visit: WIND Q1 2014 Funding and M&A Report
Companies in Q1 2014: 3sun
Group, AES Corporation, Airsynergy, ALLETE Clean Energy, Alstom, Alterra Power,
Areva Wind, Atlantic Energias Renovaveis, Baraunas I Energetica, Beothuk
Energy, Bhilwara Energy, BluEarth Renewables, Bord Gais Energy, BP Wind Energy,
Broadview Energy, Brookfield Renewable Energy Partners, C&C, Cape Wind
Associates, Capital Power, CEE, Centrais Eolicas Bela Vista, Centrais Eolicas
Piloes, Central Eolica Coqueirinho, China Longyuan, China Ming Yang Wind Power,
China National Offshore Oil Corporation, Cielo Wind Power, Clean Currents, Community
Windpower, Continuum Wind Energy, COPEL Renovaveis, Copenhagen Infrastructure
Partners (CIP), CPFL Renovaveis Dobreve Energia (Desa), DONG Energy, Duke
Energy, E.ON, Ecogen Projects, EDF Renewable Energy, EKI Energy Services,
Elektrizitatswerk der Stadt Zurich (EWZ), Element Power, EMV, Endurance Wind
Power, Eneco Wind UK, Enel Green Power, Eolica Valle Hermoso, Ethical Electric,
Ferrostaal Industrial Projects, Fersa Panama, Fintel Energia Group, First Wind,
Fortum, Gama Holding, Gamesa, GDF SUEZ, GAMA Enerji, GE Energy Financial
Services, GEO Renewables, Geronimo Energy, Globeleq, Green Investment Bank,
Greenko Group, Grupo Soluciones en Energias Renovables (GSEER), H2air, Hardin
Wind, HgCapital, Horn Wind, HT Aiwanger, Huadian Fuxin Energy, Ilmatar Windpower,
Infinity Wind Power, Invenergy, KDE Energy, KGAL, Kuber Securities, La Caisse,
Lake Turkana Wind Power, Mainstream Renewable Power, Marubeni Corporation,
Minas Energy, miniPower, Mira Subco, MITCON, Morro Branco I Energetica,
National Hydroelectric Power Corporation, New Generation Power Texas, NextEra
Energy, NJR Clean Energy Ventures, NOP Agrowind, Nordex, North British
Windpower, Northland Power, Norvento USA, O2, OwnEnergy, Pattern Energy,
Petkim, PNE WIND, Principle Power, Prokon, Rayala Wind Power, Recursos y
Desarrollos Eolicos B&E, Renewable Energy Generation (REG), Renewable
Energy Systems (RES), Repsol Nuevas Energias UK, Resonance Asset Management,
Rialma Eolica Serido, RWE Innogy, Sainshand Wind, Samsung Renewable Energy,
Scotian WindFields, Senvion, Siemens Government Technologies, SSE Renewables,
Stadtwerke Munchen, Starwood Energy Group, Statkraft UK, Steag, TenneT, The
Renewables Infrastructure Group (TRIG), Tornator, TPI Composites, TPI Kompozit
Kanat Sanayi ve Ticaret, Tres Amigas, Tri Global Energy, Triodos Renewables,
TuuliWatti, Typhoon Offshore, UNION Fenosa Wind Australia, United Wind, Usinas
y Trasmisiones Electricas (UTE), Vattenfall, Vestas, Vientos de Eletrotecnia,
Vive Energia, West Coast Energy, Wind Power Holdings, WKN, wpd, YARD ENERGY,
Yemen Ministry of Electricity and Energy.