NewEnergyNews: TODAY’S STUDY: THE WIND BUSINESS THIS YEAR

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

The new challenge: To make every day Earth Day.

YESTERDAY

  • ORIGINAL REPORTING: HAWAII'S UTILITIES PLAN FOR 67% RENEWABLES BY 2030
  • ORIGINAL REPORTING: CAN WARREN BUFFETT'S PACIFICORP BRING THE NORTHWEST'S RENEWABLE RICHES TO MARKET?
  • THE DAY BEFORE

  • ORIGINAL REPORTING: A UTILITY IN THE MAKING: THE MUNICIPALIZATION OF BOULDER, COLORADO
  • ORIGINAL REPORTING: WHAT HAPPENED TO THAT NATIONAL HIGH VOLTAGE TRANSMISSION SYSTEM?
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    GET THE DAILY HEADLINES EMAIL: CLICK HERE TO SUBMIT YOUR EMAIL ADDRESS OR SEND YOUR EMAIL ADDRESS TO: herman@NewEnergyNews.net

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    THE DAY BEFORE THE DAY BEFORE

  • ORIGINAL REPORTING: THE STATE OF THE U.S. WIND INDUSTRY (AND WHAT IT MEANS FOR UTILITIES)
  • ORIGINAL REPORTING: HOW SACRAMENTO'S PUBLIC UTILITY IS GETTING IN THE RESIDENTIAL SOLAR BUSINESS
  • THE DAY BEFORE THAT

  • ORIGINAL REPORTING: HAS APS INVENTED A ROOFTOP SOLAR BUSINESS MODEL FOR UTILITIES?
  • ORIGINAL REPORTING: THE GRID NEEDS INDEPENDENT DISTRIBUTION SYSTEM OPERATORS
  • AND THE DAY BEFORE THAT

  • ORIGINAL REPORTING: HOW SHOULD UTILITIES VALUE SOLAR?
  • ORIGINAL REPORTING: IS PUERTO RICO THE NEW POSTER CHILD FOR THE UTILITY DEATH SPIRAL?
  • THE LAST DAY UP HERE

  • Weekend Video: Reindeer Stresses
  • Weekend Video: Pink Fracking
  • Weekend Video: Fighting Duke For Solar
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    Anne B. Butterfield of Daily Camera and Huffington Post, is an occasional contributor to NewEnergyNews

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    Some of Anne's contributions:

  • Another Tipping Point: US Coal Supply Decline So Real Even West Virginia Concurs (REPORT), November 26, 2013
  • SOLAR FOR ME BUT NOT FOR THEE ~ Xcel's Push to Undermine Rooftop Solar, September 20, 2013
  • NEW BILLS AND NEW BIRDS in Colorado's recent session, May 20, 2013
  • Lies, damned lies and politicians (October 8, 2012)
  • Colorado's Elegant Solution to Fracking (April 23, 2012)
  • Shale Gas: From Geologic Bubble to Economic Bubble (March 15, 2012)
  • Taken for granted no more (February 5, 2012)
  • The Republican clown car circus (January 6, 2012)
  • Twenty-Somethings of Colorado With Skin in the Game (November 22, 2011)
  • Occupy, Xcel, and the Mother of All Cliffs (October 31, 2011)
  • Boulder Can Own Its Power With Distributed Generation (June 7, 2011)
  • The Plunging Cost of Renewables and Boulder's Energy Future (April 19, 2011)
  • Paddling Down the River Denial (January 12, 2011)
  • The Fox (News) That Jumped the Shark (December 16, 2010)
  • Click here for an archive of Butterfield columns

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    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

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    Your intrepid reporter

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      A tip of the NewEnergyNews cap to Phillip Garcia for crucial assistance in the design implementation of this site. Thanks, Phillip.

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    Pay a visit to the HARRY BOYKOFF page at Basketball Reference, sponsored by NewEnergyNews and Oil In Their Blood.

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  • Monday, August 20, 2012

    TODAY’S STUDY: THE WIND BUSINESS THIS YEAR

    Wind Funding and M&A, Q2 2012 Report; Funding and merger & acquisition activity for the wind sector

    July 2012 (Mercom Capital Group)

    Introduction

    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.

    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 IPEXBank,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 (~$2.39/W), and the $174 million acquisition of AGL Energy’s Hallett 5 wind farm (52.5 MW) by Eurus Energy (~$3.31/W). 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 (~$1.45/W), 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).

    In Q2 2012, VC funding in the wind sector totaled $17 million in three deals compared to $240 million in 12 deals in Q1 2012, and $64 million in three deals in Q2 2011.

    Announced large-scale project funding in Q2 2012 amounted to $5.4 billion in 23 deals.

    Large-scale onshore wind projects received $4 billion in 21 deals, compared to $1.4 billion in two deals for offshore wind.

    Top large-scale project funding deals announced in the second quarter included $741 million raised by Colruyt for its 216 MW Northwind offshore wind farm, $662 million in project funding raised by Lincs Wind Farm Limited for its 270 MW offshore wind farm, and $650 million in construction debt raised by Terra-Gen Power for its 300 MW Alta Wind VII & IX wind projects.

    Other top deals were $444 million in debt raised by Invenergy for its 200 MW California Ridge Wind Energy Project, and a $379 million loan received by Iberdrola and Neoenergia for 10 wind farms with a total capacity of 288 MW.

    Most of the large-scale project deals announced in Q2 2012 were in the United States.

    The top large-scale project investor position was shared by BNDES (Brazilian Development Bank), KfW IPEX-Bank and Union Bank, with three deals each, followed by Bank of Tokyo-Mitsubishi UFJ, BayernLB, EBRD, Lloyds, Rabobank and Santander, funding two deals each.

    Debt Funding

    Debt deals in Q2 2012 amounted to $26 million in two deals compared to $6.5 billion in six deals in Q1 2012.

    There were two other types of funding deals totaling $13 million in Q2 2012, compared to $109 million in five deals in Q1 2012.

    Mergers and Acquisitions (M&A)

    M&A activity in Q2 2012 amounted to $93 million in five transactions compared to $872 million in 11 transactions in Q1 2012.

    Of $93 million in M&A activity in Q2 2012, manufacturing companies accounted for $60 million in one transaction, followed by component companies with $33 million in two transactions.

    M&A activity saw a steep downward trend in the wind sector in Q2 2012 with $93 million in five transactions. Only two transactions disclosed details.

    The top M&A transactions 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 in Q2 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).

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