Strong Corporate and Project M&A Activity Reported
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 in 2015.
Total global corporate
funding in the wind sector, including venture capital/private equity (VC), debt
financing, and public market financing, raised by public companies shot up to a
record $15.4 billion, compared to $11.8 billion in 2014.
To learn more about the report, visit: http://bit.ly/MercomWind2015.
VC investments rose to $520 million in 14 deals in 2015, compared to $311 million
in 15 deals in 2014.
downstream companies accounted for most of the VC funding with $505 million of
the $520 million raised.
The top VC funded
company in 2015 was by
ReNew Power Ventures, an independent power producer, which raised $265 million.
Eren Renewable Energy, a renewable energy project developer, raised $114
million; followed by Apex Clean Energy, an independent renewable energy
company, which secured $80 million in two separate deals, and UrbanWind, a wind
project developer, raised $45 million.
Public market financing in the wind sector was
down this year with $2.8 billion in 20 deals, compared to 16 deals for $3.7
billion in 2014. There were three IPOs in 2015, including two yieldcos, raising
a total of $1.3 billion.
Announced debt financing this year increased by more than 56 percent
bringing in $12 billion in 40 deals, compared to 2014 with $7.7 billion in 23
project funding deals in 2015 totaled $18.3 billion in 101 deals compared to
$19.9 billion in 120 deals in 2014. A total of 113 investors participated in
these deals. Top investors continued to be development banks
including KfW IPEX-Bank, which funded 14 projects, Brazilian Development Bank
with nine, Santander with seven and Overseas Private Investment Corporation,
which funded five projects.
Wind corporate M&A activity in 2015 accounted for 48 transactions of which only
30 disclosed transaction amounts. In comparison, there were 28 transactions (12
disclosed) in 2014.
Of the 48 M&A transactions, wind downstream companies accounted for
32 this year compared to 20 of the total 28 M&A
transactions in 2014. The top three M&A transactions this year all involved
wind downstream companies.
M&A transaction in 2015 was the acquisition of Pacific Hydro by China’s
State Power Investment Corporation for $2 billion.
There were 154 wind project acquisitions in 2015 for nearly 30 GW
compared to 2014 also with 154 transactions for about 25 GW of wind projects. Investment
funds once again led project acquisitions with 9 GW in 2015, followed by
project developers with 8 GW, utilities with 7 GW and yieldcos with 5 GW of
wind project acquisitions.
Of the 154 project
acquisitions this year, 140 involved onshore wind projects In 2014, compared to 136 that exchanged hands in 2014.
The largest disclosed project
acquisition by dollar amount in 2015 was the $2 billion acquisition of 930 MW
of wind projects from Invenergy Wind, a wind project developer, in the U.S. and
Canada by TerraForm Power, a yieldco company of SunEdison.
also tracked 48.8 GW of announced large-scale onshore and offshore projects in 2015 various
stages of development globally that could be potential candidates for financing and M&A.
There were 647 companies and investors covered in this report. It
is 121 pages in length, and contains 69 charts, graphs and tables.
To learn more about the report, visit: http://bit.ly/MercomWind2015
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and research and
consulting firm focused on cleantech. Mercom delivers market intelligence and
funding and M&A reports covering Wind, Smart Grid and Solar and advises
companies on new market entry, custom market intelligence and strategic
decision-making. Mercom's communications division helps companies and financial
institutions build powerful relationships with media, analysts, local
communities, and strategic partners. About Mercom: http://www.mercomcapital.com. Mercom's clean energy reports: http://store.mercom.mercomcapital.com/page/.