Q2.14: Cleantech and Renewable Energy Investment Review
|
|
- Archibald Clark
- 7 years ago
- Views:
Transcription
1 Q2.14: Cleantech and Renewable Energy Investment Review
2 2 Welcome to Taylor Wessing s analysis of clean energy investment activity in Europe in the second quarter of 214. Following a bumper first quarter of the year, total investment, defined as the sum of project finance, public markets, venture capital and private equity investment, returned to normal levels in Q2.14 ($12.6 billion). In total, $31.2 billion was invested in the first half of 214, only 31% below the $45. billion invested during the entirety of 213. Barring a major decline in investment in the second half of the year, 214 will be an upyear for European clean energy investment. Clean energy project finance totalled $12.2 billion in Q2.14, a 25% decrease on the $16.3 billion invested in Q1.14 but a 33% increase on the $9.2 billion invested in the corresponding period last year. Despite the quarterly increase, project finance was still 6% above the quarterly average during the past two years ($11.5 billion). Project finance in Q2.14 was boosted by the Eur2.8 billion ($3.8 billion) project finance deal structured for the 6 MW Gemini offshore wind farm in the Netherlands. The deal, which is the largest ever non-recourse project finance transaction for a single asset tracked by Clean Energy Pipeline, accounted for just under a third of total project finance in Europe in Q2.14. Venture capital and private equity investment in European clean energy companies slumped to $252 billion in Q2.14, less than half the $642 million invested in Q1.14. That said, Q1.14 represented one of the largest ever quarters for European clean energy investment, owing largely to two major investments in solar companies, most notably Gothaer Versicherungen s $25 million investment in Juwi Renewable IPP. Indeed investment in Q2.14 was ahead of the $239 million invested in the corresponding quarter last year. The one asset class to hit a major bump in the road was public markets European clean energy companies only raised $21 million on the public markets in Q2.14, compared with $1.6 billion in the previous quarter. The huge decrease was a direct result of a lack of YieldCo fundraising activity, which has propped up public market deal activity in Europe during the past 18 months. NextEnergy Solar Fund s $118 million IPO on the London Stock Exchange was the only YieldCo deal in Q2.14. Last quarter, four separate YieldCos raised $4 million through a mixture of IPOs and secondary offerings. M&A activity was particularly robust in Q2.14 some 131 deals valued at a combined $5.7 billion were announced in Q2.14, a 14% increase in value compared to the 11 deals totalling $5 billion that were announced the previous quarter. The most notable deal was GE s announced acquisition of Alstom s renewable, thermal and grid business. The total size of the deal is $16.9 billion, although Clean Energy Pipeline estimates that the purchase price for the renewable energy business is c.$2.1 billion.
3 Contents Venture Capital and Private Equity... 4 Mergers and Acquisitions... 9 Project and Asset Finance Public Markets... 17
4 4 Venture Capital and Private Equity European Venture Capital and Private Equity Investment: Q2.12 to Q Private equity (Development capital) Venture capital - Late stage (Series D+) Venture capital - Early growth (Series A to C) Number of deals Deal value ($ billion) Number of deals 1 5 Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q4.13 Q1.14 Q2.14 Average Quarterly VC/PE Investment Q2.12 to Q2.14 ($ million) Venture Capital (early-stage) Venture Capital (late-stage) 32.4 Private Equity (development capital) Average deal size Q2.12 to Q2.14 ($ million) Venture Capital (early-stage) 4.6 Venture Capital (late-stage) 18.5 Private Equity (development capital) 49.2
5 5 Venture Capital and Private Equity Q2.14: Top 1 Venture Capital Deals Company Sector Country Deal value ($ million) Avantium Technologies BV Investor(s) Biofuels Netherlands 5. Aescap Venture Management BV / Capricorn Venture Partners NV / Navitas Capital / ING Corporate Investments / Aster Capital SA / Sofinnova Partners / De Hoge Dennen Capital PE BV / The Coca- Cola Company / Swire Pacific Ltd. / Groupe Danone / ALPLA Nenuphar Wind France 2.7 IDInvest Partners / AREVA SA / Bpifrance (Banque Publique d'investissement) Nujira Ltd. Energy Efficiency UK 2. Amadeus Capital Partners Ltd. / NES Partners (New Energy Solutions Management ApS) / Environmental Technologies Fund LP / BankInvest Group / GAM Fund Management Limited / Investec plc / Climate Change Capital Ltd. / SAM Private Equity AG Oxitec Ltd. Agriculture UK 1.2 East Hill Management LLC / University of Oxford / Oxford Capital Partners Ltd. Cylon Controls Ltd. Energy Efficiency Ireland 9.5 ESB Novusmodus / Greencoat Capital LLP (f.k.a. Novusmodus LLP) Leosphere Inc. Wind France 9.5 Electranova Capital Sunpartner Technologies Mcor Technologies Ltd. GreenStream Network Plc Solar France 9.3 Credit Agricole SA / Eurowatt / Davaniere Capital Partenaire / Sigma Gestion Other cleantech products & services Environmental Services & Remediation Ireland 9. WHEB Partners Finland 4.9 Finnfund Amoéba SAS Amoéba SAS France 4.2 CM-CIC Private Equity / Siparex Ventures / Rhone-Alpes Création / Evolem / Eurekap!
6 6 Venture Capital and Private Equity European Private Equity Buyouts: Q2.12 to Q Deals of over $1 million Deals of under $1 million Number of deals Deal value ($ billion) Number of deals Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q4.13 Q1.14 Q2.14 Average Private Equity Buyout Investment: Q2.12 to Q2.14 Average Quarterly PE Buyout Volume ($ billion) 2.7 Average Number of Deals per Quarter 31 Average PE Buyout transaction value ($ million) 66
7 7 Venture Capital and Private Equity Q2.14: Top five investments by Private Equity funds, infrastructure funds and institutional investors. 1 Marius Pedersen AS $326.6 million Country: Czech Republic Sector: Recycling & Waste Investor: Entreprenør Marius Pedersens Fond (Marius Pedersen Foundation) 2 Wind farm (24MW) - Maerdy $89.9 million Country: UK Sector: Wind Investor: Greencoat UK Wind 3 Wind farm (18.4MW) - Kildrummy, UK $73.6 million Country: UK Sector: Wind Investor: Greencoat UK Wind 4 Ballast Phoenix Ltd. $46.7 million Country: UK Sector: Recycling & Waste Investor: H2 Equity Partners 5 Solar plant (17.5MW) - Hertfordshire $32.2 million Country: UK Sector: Solar Investor: Bluefield Solar Income Fund Ltd Note: This table includes investments by institutional investors
8 8 Venture Capital and Private Equity European Venture Capital Investment by Sector Solar Biofuels 5.6 Q2.13 Q1.14 Q2.14 Energy Efficiency Wind Green Transportation Deal value ($ million) European Venture Capital Investment by Country Q2.13 UK Q1.14 Q2.14 France 6.4 Netherlands Ireland 2.7 Germany Deal value ($ million)
9 9 Mergers and Acquisitions European M&A Activity: Q2.12 to Q Deals of over $5 million Deals of under $5 million Number of deals Deal value ($ billion) Number of deals Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q4.13 Q1.14 Q2.14 Clean Energy Pipeline calculates M&A activity based on announced transactions within each quarter. Average M&A Investment: Q2.12 to Q2.14 Average Quarterly M&A Deal Volume ($ billion) 5.6 Average number of deals per quarter 111 Average M&A transaction value ($ million) 5.
10 1 Mergers and Acquisitions European M&A Activity by Sector Wind Solar Q2.13 Q1.14 Recycle & Waste Q2.14 Hydro Energy Efficiency Deal value ($ billion) European M&A Activity by Country France Italy Q2.13 Q1.14 Q2.14 UK Germany Finland Deal value ($ billion)
11 11 Mergers and Acquisitions Q2.14: Top five European M&A Transactions 1 Target: Alstom Power SA (renewables business) Acquirer: General Electric Company Country: France Sector: Wind $2,1 million* 2 Target: Marius Pedersen AS Acquirer: Entreprenør Marius Pedersens Fond (Marius Pedersen Foundation) Country: Czech Republic Sector: Recycling & Waste $326.6 million 3 Target: Hydro plant (76MW) - Harjavalta, Hydro plant (2MW) - Koivukoski, Hydro plant (45MW) - Kolsi, Hydro plant (9MW) - Korkeakoski Acquirer: Oulun Energia, Vantaan Energia Oy, Turku Energia Sähköverkot Oy, Pori Energia Oy, Oulun Seudun Sähkö Country: Finland Sector: Hydro $325.8 million 4 Target: Wind farm (24MW) - Maerdy Acquirer: Greencoat UK Wind Country: UK Sector: Wind $89.9 million 5 Target: Wind farm (18.4MW) - Kildrummy, UK Acquirer: Greencoat UK Wind Country: UK Sector: Wind $73.6 million * The deal value is estimated by Clean Energy Pipeline
12 12 Project and Asset Finance European Project Finance Deal Volume: Q2.12 to Q Northern Europe Central & Eastern Europe 14 Southern Europe Western Europe 12 Deal value ($ billion) Q2.12 Q3.12 Q4.12 Q1.13 Q2.13 Q4.13 Q1.14 Q2.14
13 13 Project and Asset Finance Q2.14 : European Project Finance by Sector as a Percentage of Total Deal Volume / Total Number of Deals Wind Solar Biomass Water & Waste Water Treatment % of total deal value % of total numbers of deals Hyrdo Geothermal Other Energy Storage % Percentage (%)
14 14 Project and Asset Finance European Project Finance - Top Five Countries Q2.13 Total: $6.1 billion Spain 8% Italy 8% France 15% Germany 36% UK 33% France 8% Italy 6% Spain 1% Total: $12.8 billion Germany 42% UK 43% Q4.14 Total: $4.3 billion France 2% Italy 5% Germany 46% UK 29%
15 15 Project and Asset Finance European Project Finance - Top Sectors Q2.13 Solar PV 17% Solar thermal 3% Total: $8.8 billion Onshore wind 4% Offshore wind 19% Biomass 21% Total: $15.5 billion Solar (PV) 8% Onshore wind 32% Offshore wind 29% Biomass 31% Q4.13 Total: $11.8 billion Solar PV 13% Offshore wind 15% Onshore wind 37% Biomass 35%
16 16 Project and Asset Finance Q2.14 : Top Five European Project Finance Transactions 1 NETHERLANDS - Offshore wind $3,845. million Project Wind farm (6MW) - Gemini (Buitengaats & ZeeEnergie) Developer Northland Power Inc. / Siemens Financial Services Ltd. (inlcd. Siemens Bank) / Van Oord NV / HVC Group Equity Provider Northland Power Inc. / Siemens Financial Services / Van Oord NV / HVC Group Debt Provider Deutsche Bank AG / European Investment Bank / Export Development Canada / Natixis SA / ABN AMRO Bank NV / Banco Santander SA / BNP Paribas SA / La Caixa d Estalvis i Pensions de Barcelona / Mitsubishi UFJ Financial Group / Sumitomo Mitsui Banking Corp. / Eksport Kredit Fonden / Euler Hermes / CIBC World Markets Inc. / Bank Nederlandse Gemeenten / BMO Financial Group / Delcredere / Ducroire 2 SWEDEN - Biomass $735.6 million Project Biomass plant (13MW) - Vartan, Stockholm Developer Equity Provider Debt Provider Fortum Oyj Fortum Oyj European Investment Bank / Nordic Investment Bank 3 UK - Onshore wind $335.2 million Project Wind farm (99MW) - Dunmaglass Developer Equity Provider Debt Provider - SSE plc SSE plc 4 DENMARK - Biomass $328.4 million Project Biomass plant - Skærbæk Power Station Developer Equity Provider Debt Provider - DONG Energy A/S DONG Energy A/S / TVIS 5 ROMANIA - Onshore wind $275.4 million Project Wind farm (18MW) - Crucea North, Dobrogea Developer Equity Provider Debt Provider STEAG GmbH STEAG GmbH European Bank for Reconstruction and Development / Erste Group Bank AG / Banca Comerciala Romana
17 17 Public Markets Quarterly Breakdown Number of Public Market Deals (Q2.12 to Q2.14) Quarterly breakdown - number of public market deals (2Q12 to 2Q14) Q2.12 Q3.12 Q1.13 Q4.13 Q1.14 Q Deals 5 Deals 3 Deals 5 Deals 9 Deals 1 Deals 5 Deals Quarterly breakdown - number of public market deals (2Q12 to 2Q14) Quarterly breakdown - public markets activity as a percentage of total amount raised (2Q12 to 2Q14) Q2.12 Q3.12 Q Deals 4% 1% Q1.13 Q3.12 Q1.13 Q4.13 Q Deals 3 Deals 5 Deals 1% 19% 24% Q1.14 Q1.14 Q2.14 Q Deals 5 Deals 38% 5% Quarterly Breakdown - Analysis of Percentage Contribution of Total Funds Raised by Quarter between Q2.12 and Q2.14 Quarterly breakdown - public markets activity as a percentage of total amount raised (2Q12 to 2Q14) 9 Deals Q2.12 Q3.12 Q1.13 Q4.13 Q1.14 Q2.14 4% 1% 1% 19% 24% 38% 5%
18 Europe > Middle East > Asia Taylor Wessing LLP 214 This publication is intended for general public guidance and to highlight issues. It is not intended to apply to specific circumstances or to constitute legal advice. Taylor Wessing s international offices operate as one firm but are established as distinct legal entities. For further information about our offices and the regulatory regimes that apply to them, please refer to: NB_145_8.14
Q2.15: Cleantech and Renewable Energy Investment Review
Q2.15: Cleantech and Renewable Energy Investment Review 02 Welcome to Taylor Wessing s analysis of clean energy investment activity in Europe in the second quarter of 2015 (Q2.15). Total investment in
More informationCLEAN ENERGY PIPELINE GLOBAL CLEAN ENERGY REVIEW 2Q14 ANALYTICS AND GRAPHS
CLEAN ENERGY PIPELINE GLOBAL CLEAN ENERGY REVIEW 2Q14 ANALYTICS AND GRAPHS CONTACT CLEAN ENERGY PIPELINE For any questions regarding the information contained herewith or to request additional data / information,
More informationQ1.14: Cleantech and Renewable Energy Investment Review
Q1.14: Cleantech and Renewable Energy Investment Review 02 Welcome to Taylor Wessing s analysis of clean energy investment activity in the first quarter of 2014. The year has started on a positive note,
More information3Q13: Cleantech and Renewable Energy Investment Review
3Q13: Cleantech and Renewable Energy Investment Review 02 Welcome to Taylor Wessing s analysis of clean energy investment activity in the third quarter of 2013. As we review this quarter s investment activity
More information4Q12: Cleantech and Renewable Energy Investment Review
4Q12: Cleantech and Renewable Energy Investment Review Contents Venture Capital and Private Equity... 03 Mergers and Acquisitions... 09 Project and Asset Finance... 12 Public Markets... 17 03 Venture Capital
More informationGLOBAL TRENDS IN CLEAN ENERGY INVESTMENT
09 January 2015 GLOBAL TRENDS IN CLEAN ENERGY INVESTMENT Rebound in clean energy investment in 2014 beats expectations Luke Mills CONTENTS 1. Annual clean energy investment overview 2. Quarterly trends
More informationAlternative Investments The PensionDanmark Way. March 26 th 2015 The Danish Securities Dealers Association CEO Torben Möger Pedersen
Alternative Investments The PensionDanmark Way March 26 th 2015 The Danish Securities Dealers Association CEO Torben Möger Pedersen PensionDanmark at a Glance 660,000 members Member profile by industry:
More informationRenewable Energy Sources (RES) Support Levels, 2009
Austria Hydropower Green electricity act Feed-in tariff (incentive only) 3.25 644,000 5.05 Wind (onshore) Green electricity act Feed-in tariff (incentive only) 59.46 1,915,000 31.05 Biomass Green electricity
More informationHow does a venture capitalist appraise investment opportunities?
1 How does a venture capitalist appraise investment opportunities? Michael Queen - Finance Director, 3i Group plc A presentation to: 23 Pensions Convention 2 June 23 A How presentation does a venture to:
More informationPNE WIND AG. Webcast March 31, 2015
PNE WIND AG Webcast March 31, 2015 Windpark Windpark Buchholz Buchholz 2014 - HIGHLIGHTS The financial year 2014 was characterized by 1. the continuation of our on and offshore development activities in
More informationERMInE Database. Presentation by Nils Flatabø SINTEF Energy Research. ERMInE Workshop 2 - Northern Europe Oslo, 1. November 2006
ERMInE Database Presentation by Nils Flatabø SINTEF Energy Research ERMInE Workshop 2 - Northern Europe Oslo, 1. November 26 Overview Content of the Ermine Database Electronic Questionnaire RTD&D Data
More informationINVESTING IN A TRANSITIONING SECTOR
INVESTING IN A TRANSITIONING SECTOR Eurelectric conference Jon Moore, CEO NEW INVESTMENT IN CLEAN ENERGY 24-14 ($BN) 32% 17% $318bn -7% $294bn 16% -9% $31bn.5% $272bn $268bn 17% 46% 36% $175bn $25bn $26bn
More informationGreen Bonds Turning Red Hot
800 700 600 500 400 300 200 100 0-100 -200 2Q 2014 Green Bonds Turning Red Hot 2014 is shaping up to be a market defining year for green bonds. The value of green bond issuances year-to-date through September
More informationEnvironmentally sound technologies in Poland market overview and business opportunities for SMEs
Environmentally sound technologies in Poland market overview and business opportunities for SMEs Prof. Krzysztof Klincewicz Faculty of Management, University of Warsaw Member of UNFCCC Technology Executive
More informationLeaseurope releases its Ranking of Top European Leasing Companies for 2009
PRESS RELEASE FOR IMMEDIATE RELEASE Leaseurope releases its Ranking of Top an Leasing Companies for 2009 Brussels, 20 August 2010 Leaseurope is pleased to announce the release of its ninth consecutive
More informationESBI Carbon Solutions. Partnering with Countries to Achieve their Full Carbon Credit Potential
ESBI Carbon Solutions Partnering with Countries to Achieve their Full Carbon Credit Potential ESB International ESB International (ESBI) is a growing international energy company and one of Europe s leading
More informationDeveloping solar in emerging markets
Developing solar in emerging markets Swedbank Conference March 17, 2016 Our values Predictable Driving results Change makers Working together Disclaimer The following presentation is being made only to,
More informationOur global capabilities: Energy and Cleantech
Our global capabilities: Energy and Cleantech Our global capabilities Energy and Cleantech: the energy revolution The industrialisation of emerging markets continues to drive up energy demand and costs,
More informationPattern Energy and its 115MW El Arrayan wind project - CHILE. May 2012
Pattern Energy and its 115MW El Arrayan wind project - CHILE May 2012 Agenda Pattern Energy Overview How to find a 38.4% NCF wind project in Chile And how to build it (hint: successful partnerships) Operating
More informationThe Role of a Pension Fund in Renewable Energy Investments. Transformational NAMA in the Renewable Energy Sector May 2013
The Role of a Pension Fund in Renewable Energy Investments Transformational NAMA in the Renewable Energy Sector May 2013 PensionDanmark at a Glance Industry-wide pension fund established in the early 1990
More informationC h a r t 1 - KPNQwest Group
C h a r t 1 - Group NV BIJLAGE / ANNEX 1 IP Services BV Services Finance BV financing moratorium: 30-05 bankruptcy: 25-09 09-2002 Assets Central Europe BV moratorium: 18-06 moratorium has ended Netherlands
More informationSection 5 Electricity
Section 5 Electricity Key results show: In 2015 Q3, total electricity generated fell by 0.5 per cent, from 76.4 TWh a year earlier to 75.9 TWh. (Chart 5.1). Renewables share of electricity generation was
More informationTrends in the European Investment Fund Industry. in the First Quarter of 2016
Quarterly Statistical Release May 2016, N 65 This release and other statistical releases are available on Efama s website (www.efama.org) Trends in the European Investment Fund Industry in the First Quarter
More informationInvesting for Strathclyde...
STRATHCLYDE PENSION FUND DIRECT INVESTMENT PORTFOLIO Investing for Strathclyde......investing in Strathclyde INDEX Page 01 Introduction 02 Overview 03 Strategy 04 Timeline 06 Portfolio INTRODUCTION With
More informationRenewable Energy Financing point view
Renewable Energy Financing point view 16 May 2013 Prepared by: Samar Obaid Partner TAS Presentation Agenda 1. Energy Leaders 2. MENA Cleantech Trends 3. How to Establish an RE Project 4. Investment Risks
More informationPNE WIND AG. Webcast Presentation May 11, 2015
PNE WIND AG Webcast Presentation May 11, 2015 Windpark Windpark Buchholz Buchholz 1Q 2015 HIGHLIGHTS The first quarter of 2015 was characterized by 1. the continuation of our on and offshore development
More informationFinancing renewable energies. The role of the banking sector
Financing renewable energies The role of the banking sector Milan, 20 June 2014 UniCredit at a glance Key figures (March 2014) UniCredit is a leading European commercial bank with an international network,
More informationWinning Support for Wind Farms
Sustainable Energy Best Practice in the European Regions Eco Centre Wales Tobias Cossen Project Manager International Markets Marketing & Acquisition 100% Renewable Energies juwi Holding AG Content 1.
More informationPNE WIND AG. Investor Relations Presentation March 31, 2015
PNE WIND AG Investor Relations Presentation March 31, 2015 Windpark Windpark Buchholz Buchholz 2014 - HIGHLIGHTS The financial year 2014 was characterized by 1. the continuation of our on and offshore
More informationPress Release. During the third quarter of 2013/14
Press Release 21 January 2014 During the third quarter of 2013/14 Alstom booked a sound level of orders, but continuing weakness in Thermal Power s new build weighs on outlook Over the third quarter 2013/14
More informationRenewable Energy Projections as Published in the National Renewable Energy Action Plans of the European Member States
Renewable Energy Projections as Published in the National Renewable Energy Action Plans of the European Member States Covering all 27 EU Member States L.W.M. Beurskens M. Hekkenberg ECN-E--10-069 1 February
More informationTrends in the European Investment Fund Industry. in the Fourth Quarter of 2015. Results for the Full Year of 2015
Quarterly Statistical Release February 2016, N 64 This release and other statistical releases are available on Efama s website (www.efama.org) Trends in the European Investment Fund Industry in the Fourth
More informationItämeren alueen energiahaasteet yhteinen etu vai riesa?
Itämeren alueen energiahaasteet yhteinen etu vai riesa? Itämeri-foorumi 2012 Turku 7.6.2012 Harro Pitkänen 13 JUNE 2012 NIB - Basic information Founded by the Nordic countries in 1975 (active since 1976)
More informationDisclaimer. purposes only. Not for distribution in the United States, Japan, Australia, Italy or Canada.
8 April 2011 Disclaimer THIS PRESENTATION MAY NOT BE DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, JAPAN, ITALY, AUSTRALIA, CANADA OR ANY OTHER COUNTRY IN WHICH THE DISTRIBUTION OR DIFFUSION
More informationSolar Power: Photovoltaic Systems for a Variety of Applications. Christian Hinsch Director Corporate Communications juwi Holding AG
Solar Power: Photovoltaic Systems for a Variety of Applications Christian Hinsch Director Corporate Communications juwi Holding AG Contents 1. We make it happen 1.1 Our Vision & Our Services 1.2 juwi at
More informationProfit earner or cost driver? A combined view of retail banking and payments. Bertrand Lavayssière Frankfurt, May 25th
Profit earner or cost driver? A combined view of retail banking and payments Bertrand Lavayssière Frankfurt, May 25th Payments are crucial for Retail Banking Retail banking revenues are rather stable and
More informationBROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. Wells Fargo (Lux) Worldwide Fund
Argen na CITIBANK, N.A. BUENOS AIRES BRANCH Australia Austria HSBC BANK AUSTRALIA LIMITED FOR THE HONGKONG AND SHANGHAI DEUTSCHE BANK AG, VIENNA BRANCH Belgium DEUTSCHE BANK AG, AMSTERDAM BRANCH Brazil
More informationHow To Understand The Renewable Energy Market In Europe 2014-2018
Brochure More information from http://www.researchandmarkets.com/reports/2880887/ Renewable Energy Market in Europe 2014-2018 Description: About Renewable Energy Renewable energy sources include solar,
More informationFINANCING OF LOW-CARBON ENERGY TECHNOLOGIES
FINANCING OF LOW-CARBON ENERGY TECHNOLOGIES Juan Alario Associate Director Head of Division, Energy Efficiency and Renewables European Investment Bank (EIB) III International Conference on Energy Innovation
More informationOrder Execution Policy - Citco Bank Nederland N.V.
Order Execution Policy - Citco Bank Nederland N.V. 1. Objective of Policy The objective of the Policy is to summarize the arrangements that Citco Bank Nederland N.V. ( CBN ) has established in order to
More informationLow Carbon and Environmental Goods and Services: an industry analysis. Update for 2008/09
Low Carbon and Environmental Goods and Services: an industry analysis Update for 2008/09 Innovas Solutions Ltd March 2010 In partnership with 1 Copyright Crown copyright, 2010 The views expressed within
More informationCapital Stage AG, Conference Call, Monday, 11/17/14 Strategic Partnership with Gothaer Insurance Group
Capital Stage AG, Conference Call, Monday, 11/17/14 Strategic Partnership with Gothaer Insurance Group Who we are We are an independent operator of PV and wind parks in Germany, Italy and France. Over
More informationOctober 2015 Imagination at work.
Grid Software Solutions Providing Solutions that Modernize the Grid October 2015 Imagination at work. 200 Over years combined experience in providing advanced energy solutions Grid Solutions Grid Solutions,
More informationIEWT 2011 TOWARDS AN EFFECTIVE AND EFFICIENT RES TARGET FULFILLMENT FROM BAU TO STRENGTHENED NATIONAL POLICIES WITH PROACTIVE RISK MITIGATION
TOWARDS AN EFFECTIVE AND EFFICIENT RES TARGET FULFILLMENT FROM BAU TO STRENGTHENED NATIONAL POLICIES WITH PROACTIVE RISK MITIGATION Vienna University of Technology, 7 th IEWT Slide 1 Cost estimates of
More informationOverview on DHC pricing and regulations in Europe-
Overview on DHC pricing and regulations in Europe- Challenges and need of development Birgitta Resvik, Corporate Relations Sweden, Vice President, Fortum Our geographical presence today Nr 3 Nr 1 Nr 1
More informationPress Release. FY 2012/13 Alstom achieves a solid commercial and operational performance and free cash flow turns positive
Press Release 7 May 2013 FY 2012/13 Alstom achieves a solid commercial and operational performance and free cash flow turns positive Between 1 April 2012 and 31 March 2013, Alstom booked 23.8 billion of
More informationGLOBAL SPECIALTY LINES GLOBAL EXPERTISE, DELIVERED LOCALLY.
GLOBAL SPECIALTY LINES GLOBAL EXPERTISE, DELIVERED LOCALLY. 02 Global expertise, delivered locally. introducing rsa RSA is one of the world s leading multinational quoted insurance groups. The services
More informationElectricity, Gas and Water: The European Market Report 2014
Brochure More information from http://www.researchandmarkets.com/reports/2876228/ Electricity, Gas and Water: The European Market Report 2014 Description: The combined European annual demand for electricity,
More informationBostik International Presence
TOTAL Group Fourth largest international oil and gas company and a world-class chemicals manufacturer Chemical industry Petro chemicals Speciality chemicals Holding company located in France, Paris La
More informationInvesting in renewables infrastructure
Infrastructure Investing in renewables infrastructure Nearly half of all power is expected to be generated from renewables in ten years time. The German government is pursuing this goal very rigorously:
More informationWind energy scenarios for 2020. A report by the European Wind Energy Association - July 2014. Wind energy scenarios for 2020
A report by the European Wind Energy Association - July 2014 1 WIND ENERGY SCENARIOS FOR 2020 Content Background...3 Reasons for the new scenarios...3 Proposed new scenarios...3 Text and analysis: Jacopo
More informationEarnings Release Q3 2014 April 1 to June 30, 2014. Good Q3 Results Challenges in Energy Sector. Fiscal Year Outlook Confirmed. Financial Highlights*:
Good Q3 Results Challenges in Energy Sector Fiscal Year Outlook Confirmed Joe Kaeser, President and Chief Executive Officer of Siemens AG Financial Highlights*: While we made good progress in most areas,
More informationThe UK solar gold rush: Navigating the end of the RO regime and preparing for CfDs ORRICK 1. In association with
The UK solar gold rush: Navigating the end of the RO regime and preparing for CfDs ORRICK 1 In association with U.S. RENEWABLE ENERGY FINANCING AND REGULATORY OUTLOOK 2015 2 ORRICK US renewable energy
More informationRENEWABLE ENERGY IN AUSTRALIA
RENEWABLE ENERGY IN AUSTRALIA Increasing electricity generation from renewable energy sources is one of the main strategies to reduce greenhouse emissions from the power sector. Australia has historically
More informationHow To Sell Yellow Corn Grade Human Harvest
DECEMBER th 2014. (This document loses its validity on DECEMBER, 2014). COMMODITY YELLOW CORN GRADE # 2 SPECIFICATIONS: YELLOW CORN GRADE 2 HUMAN FEED TEST: weight min 70 kgs per hl FOREIGN MATTER: 3,00%
More informationPGE - Polish Energy Group. Nuclear power development in Poland - we need decision today. Organisation of the Polish Power Sector After Consolidation
Nuclear power development in Poland - we need decision today Hanna Trojanowska Director of International Affairs and New Technologies Department PGE Polska Grupa Energetyczna S.A. Organisation of the Polish
More informationRenewable Energy in France
Renewable Energy in France Finance & investment Maritime Energy Natural resources Transport Real estate ICT Corporate Finance Tax Dispute resolution Employment Regulatory London New York Paris Hamburg
More informationInvestment Brief for the Electricity Sector in Ghana
Investment Brief for the Electricity Sector in Ghana Overview Ghana s economy growth decelerated sharply to an estimated 4.2% in 2014, down from 7.4 % in 2013. Manufacturing and oil production from the
More informationCode 1220 - Deposit-taking corporations except the national central bank (i.e. credit institutions and electronic money institutions)
1220 - Deposit-taking corporations except the national central bank (i.e. credit institutions and electronic money institutions) SHS 1220 BE0451289431 AACHENER BANK EG (BELGIAN BRANCH) 1220 BE0470926684
More informationDECEMBER th 2014 (This document loses its validity on DECEMBER, 2014). COMMODITY GMO SOYA BEANS GRADE # 2
DECEMBER th 2014 (This document loses its validity on DECEMBER, 2014). COMMODITY GMO SOYA BEANS GRADE # 2 SPECIFICATIONS: GMO SOYA BEANS GRADE # 2 SOYA BEAN GRADE 2 GMO: suitable for human consumption
More informationPNE WIND AG. WEBCAST presentation November 9, 2015
PNE WIND AG WEBCAST presentation November 9, 2015 Windpark Windpark Buchholz Buchholz 9M 2015 HIGHLIGHTS The first nine months of 2015 was characterized by 1. the successful sale of PNE WIND UK to Brookfield
More informationBond Financing for Renewable Energy
Bond Financing for Renewable Energy 21 July 2015 Energy Studies Institute, Singapore Thiam Hee Ng, Senior Economist Asian Development Bank Outline Introduction Why Bonds? Trends in Bond Issuance from the
More informationFinancing Renewables and Energy Efficiency Projects in Developing Countries
Mobilising Private Capital to reduce Climate Change Instruments and Policies to mobilise International Green Energy Investment Berlin June 29-30, 2010 Financing Renewables and Energy Efficiency Projects
More informationBANKING JOB LOSS SURVEY JOB LOSSES AND RESTRUCTURING PROCESS IN THE FINANCIAL SECTOR
BANKING JOB LOSS SURVEY JOB LOSSES AND RESTRUCTURING PROCESS IN THE FINANCIAL SECTOR UNI Finance Global Union Job Losses and Restructuring Process in the Financial Sector 1 Summary of key trends and results
More informationQuest for Growth. Press & Analyst Meeting. 23 January 2015
Quest for Growth Press & Analyst Meeting 23 January 2015 1 Agenda 2014 FY results and performance Quest for Growth Comments on quoted portfolio Comments on unquoted portfolio Questions and Answers 2 2014
More informationContents. Wind power sector facts. Growth drivers. Immediate challenges. Innovative and global response
Wind power sector 'Keys to competitiveness on the international stage ESADE-Deloitte Jorge Calvet, Chairman of Gamesa Madrid, 1 July 2010 Contents 5 5 5 1 Wind power sector facts Growth drivers Immediate
More informationBridging the Funding Gap: The financing challenge for European cleantech and renewable energy
Bridging the Funding Gap: The financing challenge for European cleantech and renewable energy Contents > About the research 04 > Executive summary 08 > Foreword 06 > Venture capital and Private equity
More informationACCIONA Solar, A world leader in Solar Energy
ACCIONA Solar, A world leader in Solar Energy Index ACCIONA, a world leader in Solar Energy 1. ACCIONA, pioneers in development and sustainability 2. ACCIONA Energy, leader in renewable energies 3. ACCIONA
More informationTURKEY S HYDROPOWER POTENTIAL and
ERE OTOPRODÜKTÖR, ELEKTRİK ÜRETİM, İLETİM ve DAĞITIM SANAYİ ve TİCARET A.Ş. TURKEY S HYDROPOWER POTENTIAL and REVIEW of ELECTRICITY GENERATION POLICIES from EU PERSPECTIVE FEASIBILITY CRITERIA FOR HEPP
More informationWind Power opportunities in Västerbotten, northern Sweden
Wind Power opportunities in Västerbotten, northern Sweden - Explore the resources of a truly powerful province Why Sweden One of the world s most globalized and competitive nations Meeting-point for Scandinavia
More informationVenture Capital Report
Europe 1Q 2015 The following report presents Dow Jones VentureSource s quarterly findings for European venture capital fundraising, investment, valuation, and liquidity. The included charts and graphs
More informationWind in power 2015 European statistics. February 2016 THE EUROPEAN WIND ENERGY ASSOCIATION
Wind in power 2015 European statistics February 2016 1 WIND IN POWER: 2015 EUROPEAN STATISTICS Contents Executive summary... 3 2015 annual installations... 5 Wind power capacity installations... 5 Power
More informationWood market in Poland: structure of use, industrial and energy purposes
InnovaWood/Wood Technology Institute Poznan, 25-26.06.2007 Wood market in Poland: structure of use, industrial and energy purposes Prof. Ewa Ratajczak, PhD Wojciech Cichy, PhD Joanna Pikul, MSc Wood Technology
More informationTrends in the European Investment Fund Industry. in the Second Quarter of 2014. Results for the first half of 2014
Quarterly Statistical Release September 2014, N 58 This release and other statistical releases are available on efama s website (www.efama.org) Trends in the European Investment Fund Industry in the Second
More informationVattenfall Q2 2013 results
Vattenfall Q2 2013 results Øystein Løseth, CEO and Ingrid Bonde, CFO Conference call for analysts and investors, 23 July 2013 Q2 Highlights Impairment charges on thermal assets and goodwill amounting to
More informationAlfa Business Advisors Company Profile
Alfa Business Advisors Company Profile Project Finance M&A Renewable Energy Infrastructure February 2014 www.alfaba.com 8300 Greensboro Drive, Suite 800, McLean, VA 22102 About Us Alfa Business Advisors,
More informationInvestor Presentation
Executing on Growth Investor Presentation September 2015 0 NPI.TO Forward-Looking Statements Disclaimer This written and accompanying oral presentation contains certain forward-looking statements which
More informationSteady increase of global market value
Steady increase of global market value (in Billion US$) 176 $180 Other project-based Other allowances Secondary CER 135 144 159 Primary CER post-2012 $120 Primary CER pre-2013 EU Allowances 63 $60 31 11
More informationLife Sciences Financing Summary Europe December 2014
Europe December 2014 In stark contrast to their summer inactivity, private Biotech European companies (Therapeutics & Diagnostics) raised the highest equity financing amount of the year in September with
More informationIOOF QuantPlus. International Equities Portfolio NZD. Quarterly update
IOOF QuantPlus NZD Quarterly update For the period ended 31 March 2016 Contents Overview 2 Portfolio at glance 3 Performance 4 Asset allocation 6 Overview At IOOF, we have been helping Australians secure
More informationZephyr Monthly M&A Activity Report
The following report details mergers and acquisitions activity in Western Europe in February 2016 using data from the Zephyr database. It focuses on deal activity by target company. Click here to access
More informationForeign collective investment schemes Changes - April 2007
Foreign collective investment schemes Changes - April 2007 Authorized for the distribution in Switzerland: Alternative Capital Enhancement - Ace Natural Resources Fund (CHF), fonds luxembourgeois à risque
More informationCapital Market Linkages: How to facilitate cross border trading?
Capital Market Linkages: How to facilitate cross border trading? OIC Member States Stock Exchanges Forum Dr. Jochen Biedermann Istanbul, 02 October 2010 Agenda 1. About Deutsche Börse 2. Capital Market
More informationFinnish wind power from an investor perspective
Finnish wind power from an investor perspective Talking about Invest in Finland Current status Opportunities Key questions 2 3/27/2015 Finpro Invest in Finland Invest in Finland Mission what we do Assist
More informationLife Bancassurance in the Asia-Pacific Region: Investment-Related Life Insurance and Retirement Savings
Life Bancassurance in the Asia-Pacific Region: Investment-Related Life Insurance and Retirement Savings Report Prospectus March 2013 Finaccord, 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 1
More informationPlease address your inquiries to balances@iea.org.
Excerpt from: ii - EXCERPT FROM ENERGY BALANCES OF OECD COUNTRIES (215 edition) The following analysis is an excerpt from the publication Energy Balances of OECD Countries (215 edition). Please note that
More informationFRAUNHOFER INSTITUTE FOR SOLAR ENERGY SYSTEMS ISE
FRAUNHOFER INSTITUTE FOR SOLAR ENERGY SYSTEMS ISE Power generation from renewable energy in Germany assessment of 2015 Prof. Dr. Bruno Burger Fraunhofer Institute for Solar Energy Systems ISE Freiburg,
More informationWind in power 2014 European statistics. February 2015 THE EUROPEAN WIND ENERGY ASSOCIATION
Wind in power 2014 European statistics February 2015 1 WIND IN POWER: 2014 EUROPEAN STATISTICS Contents Executive summary... 3 2014 annual installations... 5 Wind power capacity installations... 5 Power
More informationFirst Quarterly Report 2005.
First Quarterly Report 2005. FIRST QUARTER AT A GLANCE. Business Development of Kf W Bankengruppe: First quarter operations went according to plan. First quarter 2005 commitments of KfW Bankengruppe totalled
More informationForatom event 29 April 2015
Foratom event 29 April 2015 New nuclear in the UK and Electricity Market Reform Colin Parker Head of European Liaison - EDF Energy 1 April 2015 EDF Energy plc. All rights reserved. EDF Energy A UK energy
More informationIntegrating 300 GW wind power in European power systems: challenges and recommendations. Frans Van Hulle Technical Advisor
Integrating 300 GW wind power in European power systems: challenges and recommendations Frans Van Hulle Technical Advisor Worldbank, SDN Week, Washington, February 21-22, 2008 Leonard Crettaz What is the
More informationEnergy Solutions with Powerful Results. Energy Industry Team
Energy Solutions with Powerful Results Energy Industry Team Overview Experience. Kilpatrick Townsend s Energy Team serves clients who develop and finance solar, biomass, clean fuels, and energy storage
More informationRanking of Top European Leasing Companies
Ranking of Top European Leasing Companies 2013 Leaseurope Ranking of Top European Leasing Companies 2013 Leaseurope is pleased to present the thirteenth annual Ranking of Top European Leasing Companies.
More informationLife Bancassurance in Latin America: Protection-Related Life Insurance
Life Bancassurance in Latin America: Protection-Related Life Insurance Report Prospectus April 2013 Finaccord, 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 1 Prospectus contents Page What is
More informationErnst Rauch Munich Re 29 June 2010
WORKSHOP A: REDUCING RISKS OF GREEN INVESTMENT IN DEVELOPING COUNTRIES Riskmanagement for Green Investments BMU-KfW Conference 29 June 2010, Berlin Ernst Rauch Head Corporate Climate Centre, Munich Re
More informationCash machine withdrawal in the EU (+Norway and Iceland)
Cash machine withdrawal in the EU (+Norway and Iceland) Country Is it free of charge to go to a cash machine from a different bank than consumers own to withdraw money? If withdrawal is not free of charge,
More informationENERGY LAW. GREEN ENERGY Kromann Reumert leads the way for investors
ENERGY LAW GREEN ENERGY Kromann Reumert leads the way for investors 1 During the past few years we have seen an increasing focus on the reduction of CO2 emissions through reduction in energy consumption
More informationInternational Solar Energy Arena January 23rd, 2009, Istanbul STEAM (Strategic Technical Economic Research Center)
International Solar Energy Arena January 23rd, 2009, Istanbul STEAM (Strategic Technical Economic Research Center) Good morning. Sayin Bakanım. Members of Parliament. Ladies and Gentlemen. Slide 1: Opening
More informationReallocating Energy Investments?
Reallocating Energy Investments? Consider the Clean Energy Sector June 2015 Executive Summary Today, Clean Energy is an established sector, continues to grow, and offers an increasingly diverse set of
More information