Global wind project funding falls to USD 6.3bn in Q2 - Mercom
Jul 22, 2014 - Large-scale project funding in the wind sector globally dropped to USD 6.3 billion (EUR 4.7bn) in April-June from USD 7.2 billion in the prior quarter, Mercom Capital Group LLC said today.
The consulting firm’s latest report on wind sector funding and merger and acquisition (M&A) activity shows that a total of 38 deals involving large-scale project financing were executed during the past quarter. Mercom noted it had tracked almost 11 GW of new project announcement worldwide for the period.
When it comes to overall corporate funding, the figure reached USD 4 billion and included venture capital (VC), public market and debt financing transactions. Wind sector VC funding alone rose to USD 48 million from USD 32 million.
The largest disclosed M&A deal during the quarter was the roughly USD-567-million purchase of a 33.33% interest in the renewable energy generation business of Acciona Energia by US investment group KKR & Co LP (NYSE:KKR). In total, seven M&A transactions were carried out. Furthermore, among 31 unveiled project acquisitions in the second quarter, the largest one was NRG Yield's (NYSE:NYLD) USD-870-million buy of the 947-MW Alta Wind Energy Centre in California from Terra-Gen Power LLC.