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UK Renewable Energy Finance 2017

10 May 2017

The UK Renewable Energy Finance 2017 report is produced by TLT in collaboration with Clean Energy Pipeline. With the sector at a crossroads as subsidy options close, this report examines project finance and M&A activity in 2016 and quarter one of 2017.

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Smart cities in Europe: Can public procurement be used as leverage to drive smart city solutions?

07 Mar 2017

The Lawyer Research Service and Osborne Clarke have collaborated to produce 'Smart cities in Europe - Can public procurement be used as leverage to drive smart city solutions?'. The report sets out the shift in mind-set and working practices needed for the public sector to truly champion smart solutions. We also share some of the success stories and which huge opportunities are under way for local authorities and government agencies in empowering players in the market to drive future innovations.

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Lincoln Clean Energy Cost of Capital Survey Results - Summer 2016

28 Sep 2016

Clean Energy Pipeline and Lincoln International release the results of their clean energy cost of capital survey. The survey confirms that the unlevered cost of capital for ground mount solar and onshore wind in the UK has dropped to 5.6% and 6.3% respectively. The survey is the first of a biannual report designed to educate investors on this important topic on which there is little or no publicly disclosed information. The next report will be released in February 2017.

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Energy Infrastructure in the UK

25 Sep 2016

Clean Energy Pipeline and Santander Global Corporate Banking have collaborated to produce 'Energy Infrastructure in the UK'. Based on deals tracked in Clean Energy Pipeline's exhaustive transaction databases, the report includes an analysis of M&A and public markets activity in the UK renewable energy sector during 2014 and the first half of 2015. It also includes an overview of the UK energy and infrastructure investment climate written by Santander.

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UK Renewable Energy Finance 2016

25 Apr 2016

Clean Energy Pipeline and UK law firm TLT have collaborated to produce 'UK Renewable Energy Finance 2016'. This report reviews M&A and project finance activity in 2015 and quarter one of 2016 in four main sub-sectors: onshore wind, offshore wind, solar and biomass. Record breaking volumes of investment were recorded in 2015. This is directly linked to the large number of solar PV and onshore wind projects that were financed in order to qualify for ROC and FiT subsidies. Whilst the levels of investment seen in 2015 are unlikely to be repeated in 2016, the outlook remains positive. There are still significant opportunities for investors in the UK renewable energy market, despite subsidy curtailments and regulatory changes.

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Southeast Asian Clean Energy Projects

07 Mar 2016

Clean Energy Pipeline and UK law firm Bird & Bird have collaborated to produce 'Southeast Asian Clean Energy Projects'. The report reviews clean energy projects in South East Asia during 2015. South East Asian clean energy project finance totalled $2.7 billion in 2015, a 16% decrease on the $3.2 billion invested in 2014.

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The rise of corporate PPAs

10 Dec 2015

Clean Energy Pipeline and Baker & McKenzie have collaborated to produce ‘The rise of corporate PPAs: a new driver for renewables’. The report, based on a survey of more than 100 senior executives, explores what is driving the growing corporate renewables PPA market, what the primary risk factors are and how financing challenges can be overcome.

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Smart cities in Europe

04 Dec 2015

From the emergence of Uber taxis and ultra-fast railways to paperless tickets and smartphone travel apps, travelling around cities has changed dramatically in the past ten years. But with the population density of urban areas increasing across Europe – almost three-quarters of Europeans currently live in cities – more innovation is needed to ensure that people and goods can travel in a quick and effective yet safe manner. This report, the second in a series of white papers produced in collaboration with The Lawyer Research Service, explores what urban mobility might look like in future smart cities.

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North America Renewable Energy Brief - Fall Issue

26 Nov 2015

Clean Energy Pipeline and CohnReznick’s Renewable Energy Industry Practice have joined forces to produce ‘North America Renewable Energy Brief’ – a quarterly publication focused on the clean energy sector in North America. This issue shines a spotlight on the evolving investment landscape for Yieldcos in the U.S. Specifically, it explores what is behind recent stock price declines, how this is impacting financing and M&A strategies, and how Yieldcos will respond to the challenges caused by the anticipated expiration of the 30% solar Investment Tax Credit (ITC). In light of the current challenging environment, this issue also explores alternative structures for long-term asset ownership.

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DATA INSIGHT REPORT: Green Bond Update - 1H15

30 Sep 2015

This Data Insight Report analyses global green bond issuances in the first half of 2015 (1H15). The analysis is based on deals tracked in Clean Energy Pipeline’s green bond deal database. Green bond issuances totalled $19.8 billion in 1H15, exactly the same as the $19.8 billion issued in the corresponding period of 2014. Green bond issuances in 1H15 were 32% higher than the entirety of 2013 ($15 billion) and triple the $5.9 billion issued in 2012.

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DATA INSIGHT REPORT: European Clean Energy Yieldcos - 1H15

30 Sep 2015

This Data Insight Report analyses the fundraising and investment activities of European clean energy yieldcos in the first half of 2015 (1H15). The analysis is based on deals tracked in Clean Energy Pipeline’s public markets and mergers & acquisitions (M&A) transaction databases.

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Energy and Infrastructure in the UK 2015: Challenges and Opportunites

25 Sep 2015

Clean Energy Pipeline and Santander have collaborated to produce ‘Energy and Infrastructure in the UK 2015: Challenges & Opportunities’. Based on deals tracked in Clean Energy Pipeline's exhaustive transaction databases, the report includes an analysis of M&A and public markets activity in the UK renewable energy sector during 2014 and the first half of 2015. It also includes an overview of the UK energy and infrastructure investment climate written by Santander.

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What is the Greensolver Index?

10 Sep 2015

Clean Energy Pipeline and Greensolver have collaborated to produce a new report exploring the benefits of an onshore wind farm benchmarking tool, the Greensolver Index. This second collaborative report shows how the tool can aid asset owners in managing onshore wind farms effectively, from helping to purchase wind turbines to negotiating O&M contracts.

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North America Renewable Energy Brief - Summer Issue

01 Sep 2015

Clean Energy Pipeline and CohnReznick’s Renewable Energy Industry Practice have joined forces to produce ‘North America Renewable Energy Brief’ – a quarterly publication focused on the clean energy sector in North America. This Summer issue focuses on the energy storage market in North America. Which states are set for a surge in storage installation? How will storage projects be financed? What regulations are underpinning storage investment? How are utilities embracing storage? These are just some of the questions addressed in this report.

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Smart cities in Europe: Financing the commercialisation of smart city technology

14 Jul 2015

Cities need innovative solutions to help meet the long-term challenges arising from urbanisation. But, for cities to justify investment in smart technology, it needs to have been proven at scale and delivered tangible benefits. Some of the most innovative technology is being developed by early-stage companies that simply don’t have the funding to finance a large scale demonstration of their technology. This is where the real funding gap emerges.

This report, written in collaboration with Osborne Clarke, looks at the structure, participants and funding models of existing smart city demonstration projects. It analyses why these were successful, discusses why more demonstration projects are not being launched and provides insights on what might be done to encourage more.

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North America Renewable Energy Brief - Issue 1

20 May 2015

Clean Energy Pipeline and CohnReznick’s Renewable Energy Industry Practice have joined forces to produce ‘North America Renewable Energy Brief’ – a quarterly publication focused on the clean energy sector in North America. This first issue focuses on a number of themes including the prospects for renewable energy post 2016 with reduced tax incentives, energy storage, community solar and yieldcos.

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Investment and Financing Opportunities in Alternative Energy 2015

23 Apr 2015

Clean Energy Pipeline and international law firm Kaye Scholer have collaborated to produce ‘Investment and Financing Opportunities in Alternative Energy and Related Infrastructure’. The report covers five topics shaping the US and European renewable energy sector: the rise of Yieldcos and structuring considerations, the changing regulatory landscape in Europe, the impact of declining oil prices, the growing offshore wind market and a retrospective on the US project finance and investment market in 2014.

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U.S. renewable energy financing and regulatory outlook 2015

31 Mar 2015

Clean Energy Pipeline and international law firm Orrick have collaborated to produce ‘U.S. renewable energy financing and regulatory outlook 2015’. This report looks back at major regulatory changes during 2014 and early 2015 and what is on the agenda for the rest of the year. Topics covered include the wind energy production tax credit, California’s 50% renewable energy target and FERC changes to priority grid access. This report also touches on new trends in financing U.S. renewable energy projects.

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European Acquisition Finance Debt Report 2015

05 Feb 2015

This report, written in collaboration with DLA Piper, provides insight into the European acquisition finance debt market. It is based on a survey of over 300 debt providers, advisors, sponsors and corporates in November and December 2014 and features extracts from interviews with numerous senior dealmakers.

2014 was another busy year in the debt markets. Some 267 deals were executed last year, in line with the 269 transactions completed in 20131. Survey data indicates that 2015 will be another busy year – 94% of survey respondents expect 2015 to be either more active or similar in terms of deal activity to 2014.

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Five new trends in onshore wind operations and maintenance

14 Jan 2015

Clean Energy Pipeline and Greensolver collaborated to produce ‘Five new trends in onshore wind O&M’. This report analyses trends in the way operations and maintenance (O&M) of European onshore wind farms is procured and undertaken. It also explores the growing use of new technology, analytical software and benchmarking tools in wind farm O&M.

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Smart cities in Europe - enabling innovation

14 Jan 2015

The Lawyer Research Service and Osborne Clarke have collaborated to produce 'Smart cities in Europe - enabling innovation'. The report provides insight into the development of smart cities in Europe. Specifically, it focuses on how the challenges cities face in becoming ‘smart’ can be overcome. The findings are based on a survey of 300 senior executives from technology companies, investment funds, banks, consultancies and government officials. The survey identified that, by some margin, the biggest obstacle to the development of smarter cities is funding.

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Energy Storage Update - 2014 California Storage RFO

15 Dec 2014

Clean Energy Pipeline and international law firm Orrick have collaborated to produce ‘Energy storage update – 2014 California Storage RFO’. This report focuses on the challenges and opportunities in the US energy storage market, with specific focus on California’s energy storage procurement program. It covers the current status of the storage RFO, key issues in the 2014 storage RFO pro forma agreements, and financing issues for storage projects.

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European offshore wind 2014 - Financing the opportunities

04 Dec 2014

Clean Energy Pipeline and Freshfields have collaborated to produce ‘European offshore wind 2014 - Financing the opportunities’. Based on a survey of 300 senior executives in the offshore wind industry and interviews with sector exports, the report provides insight into investment trends in Europe’s offshore wind sector. It also provides an update on key regulatory developments in four major offshore wind markets – the UK, Germany, the Netherlands and France.

The report explains how, in the context of increasingly stretched balance sheets, utilities are seeking to partner with financial investors at the construction stage. Many utilities are also evaluating project finance structures to fund construction of offshore wind farms. But given utilities’ historic preference for balance sheet financing, these strategies are proving very complex and challenging to execute.

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The UK solar gold rush - Navigating the end of the RO regime and preparing for CfDs

09 Sep 2014

Clean Energy Pipeline and international law firm Orrick have collaborated to produce "The UK solar gold rush - Navigating the end of the RO regime and preparing for CfDs". This report explores the evolving dynamics of the UK solar market as the industry moves towards the end of the Renewables Obligation (RO) subsidy regime for utility scale projects (>5 MW) in April 2015. It also explores the investment viability of the contract-for-difference (CfD) subsidy mechanism, which will replace the RO from April 2015.

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The European Renewable Energy Investor Landscape

22 Jul 2014

Clean Energy Pipeline and international investment banking and financial services firm Global Capital Finance have collaborated to produce ‘The European Renewable Energy Investor Landscape’. The report analyses the renewable energy investment strategies of seven major investor classes in Europe – major utilities, municipal utilities, independent power producers, Japanese trading houses & OEMs, infrastructure and private equity funds, pension funds and insurance companies, and YieldCos and closed-end funds.

The report also provides an overview of the investment opportunities in three major renewable energy markets in Europe – Germany, the UK, and Scandinavia.

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US renewable energy - choices and challenges

03 Jul 2014

Clean Energy Pipeline and Kaye Scholer have collaborated to produce ‘US renewable energy: choices and challenges’. The report describes the state of the US renewable energy M&A market and the many considerations confronting investors as the market continues to innovate and evolve.

Specifically, this report explores where transactions are taking place, what is driving deal activity and the ways in which new acquirers such as Yieldcos, REITs and institutional investors are making an impact.

A record 126 acquisitions valued at $9.1 billion were announced in the US renewable energy sector in 2013, a 5% increase in deal value and deal numbers on 2012. Early year-over-year indicators already have 2014 ahead of 2013, suggesting 2014 is on track to be another good year.

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The Renewable Heat Incentive - A Clean Energy Pipeline guide

25 Jun 2014

This latest report from Clean Energy Pipeline provides an overview of the UK’s Renewable Heat Incentive. It discusses its purpose, the technologies covered, the subsidies available and recent changes to the incentive mechanism itself.

The RHI is a financial support programme for renewable heat designed to bridge the gap between the cost of fossil fuel heat installations and more expensive renewable alternatives. It is part of a suite of policies and incentive mechanisms designed to assist the UK meet its renewable energy and carbon reduction targets.

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Green Energy 2014 - Renewable energy M&A in the US and Canada

17 Jun 2014

Clean Energy Pipeline and KPMG have collaborated to produce ‘Green Energy 2014 – Renewable energy M&A in the US and Canada’. The findings are based on a survey of over 800 senior executives in the renewable energy industry worldwide. Survey respondents include corporates, investors, service providers, debt providers and governments.

The US and Canadian renewable energy market is poised for a further upswing in M&A activity. Two thirds of survey respondents expect the number of sub-$50 million deals to increase during the next 18 months while 58% expect the number of $50-$500 million sized deals to increase. These predictions are particularly striking given they were made following a very busy year for M&A. Some 222 acquisitions of US and Canadian renewable energy companies and projects valued at $12.1 billion were announced in 2013, a 13% increase in deal numbers on the 197 deals totalling $11.8 billion announced in 2012.

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Department of Defense's Renewable Energy Program: Exploring the challenges and opportunities

13 May 2014

Clean Energy Pipeline and international law firm Orrick have launched a series of reports dedicated to exploring investment opportunities and challenges in the U.S. renewable energy sector.

In this first issue, we analyse the exciting investment opportunities arising from the Department of Defense’s (DoD) major renewable energy procurement initiatives. This white paper pays particular attention to the impact that DoD power purchase agreement contract clauses and language might have on the bankability and profitability of renewable energy projects.

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Energy and Infrastructure in the UK

08 May 2014

Clean Energy Pipeline and Santander have collaborated to produce ‘Energy and Infrastructure in the UK: Challenges & Opportunities’. Based on deals tracked in Clean Energy Pipeline's exhaustive transaction databases, the report includes an analysis of M&A and public markets activity in the UK renewable energy sector during 2013 and the first quarter of 2014. It also includes an overview of the UK energy and infrastructure investment climate written by Santander.

Some 95 renewable energy M&A transactions valued at $4.6 billion were announced in the UK in 2013, more than double the 44 deals totalling $2.2 billion recorded in 2012. This trend has continued in the beginning of 2014 - 28 M&A transactions valued at $2.4 billion were announced in 1Q14, making it the most active quarter by deal value in the past three years.

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Offshore Wind Project Cost Outlook (2014 Edition)

22 Apr 2014

Clean Energy Pipeline and PD Ports have collaborated to produce ‘Offshore Wind Project Cost Outlook – 2014 edition’. Based on a survey of over 200 senior executives in the European offshore wind industry, this report analyses the potential for cost reductions and efficiencies in the offshore wind supply chain in Europe. It examines the areas of the supply chain where the most significant cost savings may be achievable and what might underpin cost reductions.

The offshore wind industry is confident that significant cost reductions are achievable across the supply chain during the next ten years. On average, survey respondents expect the cost of developing and constructing offshore wind farms to fall to £2.8 million per MW for projects that reach a final investment decision (FID) in 2018 and to £2.4 million per MW for projects that reach a FID in 2023. This represents a 10% and 23% decrease respectively on the £3.1 million per MW cost at the beginning of 2014.

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Cleantech’s going mainstream: exploring new opportunities

14 Apr 2014

Clean Energy Pipeline and KPMG have collaborated to produce ‘Cleantech’s going mainstream: exploring new opportunities’. It is the fourth in a series of quarterly reports published by Clean Energy Pipeline and KPMG’s Power & Utilities team.

The report discusses the impact cleantech innovation is having on Canada’s power sector in terms of reducing the cost of solar and wind, lowering power demand through energy efficiency, and bringing energy storage to the grid. It also explores the state of cleantech innovation, investment and government support in Canada.

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European Acquisition Finance Debt Report 2014

25 Feb 2014

This report, written in collaboration with DLA Piper, provides insight into the European acquisition finance debt market. It is based on a survey of over 250 debt providers, advisors, sponsors and corporates in November and December 2013 and features extracts from interviews with numerous senior dealmakers.

2013 was a busy year, with a surge of refinancing activity leading to an increase of over 25% in deal volume. In fact, the quantum of refinancings was so significant that, for the first time in many years, the number of refinancing transactions exceeded primary deals. Deal activity aside, 2013 will long be remembered for the influx of alternative lenders offering a diverse range of new structures. Private debt funds have had the most profound impact on the European market, participating in over 50 deals in 2013, a significant increase on 2012.

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Alberta’s future energy mix: exploring the potential for renewables

24 Feb 2014

Clean Energy Pipeline and KPMG have collaborated to produce ‘Alberta’s future energy mix: exploring the potential for renewables’. It is the third in a series of quarterly reports published by Clean Energy Pipeline and KPMG’s Power & Utilities team.

The report discusses the drivers for new electricity generation in Alberta, the energy sources that will feature most prominently, and the role that renewable energy might play in meeting generation requirements. It also analyses the complexities of Alberta’s unique merchant market structure, the impact of power policy revisions on investment in renewable energy, and the issues related to project financing in the region.

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Profitability and Bankability of Renewable Energy Projects - Increasing opportunities using...

09 Jan 2014

This White Paper explores the ways in which the bankability of renewable energy projects can be improved through sophisticated risk management and insurance. It outlines how three specific measures – homogenising contract insurance requirements; modelling CAT exposure; and master insurance programs – can improve the profitability of projects. It was written by Clean Energy Pipeline and is based on interviews with three executives at Beecher Carlson.

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Hidden dragon? China’s evolving relationship with the European renewable energy industry

12 Dec 2013

Clean Energy Pipeline and Taylor Wessing have collaborated to produce ‘Hidden dragon? China’s evolving relationship with the European renewable energy industry’. Based on a survey of 200 senior business executives in China and Europe, the report provides insight into M&A and project finance deal activity between Chinese and European renewable energy companies. It also examines sector trends including expansion strategies such as technology licensing and localised manufacturing. Despite a quiet year for cross boarder investment in 2013, our survey uncovers plenty of evidence that deal activity will rebound.

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The Future for Renewable Energy in the MENA Region

28 Nov 2013

Clean Energy Pipeline and Squire Sanders have collaborated to produce 'The Future for Renewable Energy in the MENA Region’. The report includes country-by-country analysis of renewable energy development across the MENA region, covering Saudi Arabia, Jordan, Morocco, the UAE, Kuwait, Qatar, Oman and Yemen. Each country profile includes comprehensive tables of major projects, including those at the operational, construction and development stage. The report also includes an overview of the legal framework for doing business and developing projects in the MENA region.

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The CARLO Foundation Sustainable Investments Report (2013 Edition)

15 Nov 2013

The CARLO Foundation commissioned Clean Energy Pipeline to produce 'The CARLO Foundation Sustainable Investments Report - Making Sustainability Mainstream (2013 Edition)'. The report findings are based on a survey of over 400 stakeholders in the sustainable investments market conducted in July and August of 2013. These findings were then corroborated by interviews with 20 global experts in the field of sustainable investment.

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European offshore wind 2013 - France in focus

07 Nov 2013

Clean Energy Pipeline and Freshfields collaborated to produce ‘European offshore wind 2013 - France in focus' as a supplement to ‘European offshore wind 2013 - Realising the opportunity’. The report provides insight into the development of the offshore wind market in France and provides a snapshot of the key findings from the main report.

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Wind Energy in Canada: Realizing the Opportunity

01 Aug 2013

Clean Energy Pipeline and KPMG have collaborated to produce 'Wind Energy in Canada: Realizing the Opportunity'. This report provides insight into financing, M&A, policy and development trends in Canada’s wind energy sector. It also highlights the opportunities for renewable energy investment in Quebec. It is the second of a series of quarterly reports published by Clean Energy Pipeline and KPMG’s Power & Utilities team.

Project finance rates for Canadian wind energy assets are still attractive despite the recent increase in benchmark rates. However, uncertainty around the US Federal Reserve’s quantitative easing program may prompt further increases in rates. Developers requiring long-term debt financing should act now to secure capital at attractive rates.

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European offshore wind 2013 - Realising the opportunity

26 Jun 2013

Clean Energy Pipeline and Freshfields have collaborated to produce ‘European offshore wind 2013 - Realising the opportunity’. Based on a survey of 200 senior executives in the offshore wind industry and interviews with sector exports, the report provides insight into the challenges facing the European offshore wind industry. It also outlines emerging trends in offshore wind investment.

Two thirds of survey respondents do not believe there will be sufficient long-term debt financing capacity for European countries to collectively meet their 2020 offshore wind targets. In the region of $9 billion debt financing will be needed every year to hit 43GW by 2020. Only $2.1 project debt finance was invested in 2012.

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The Future for Clean Energy in Africa

18 Jun 2013

Clean Energy Pipeline and Baker & McKenzie have collaborated to produce ‘The Future for Clean Energy in Africa’. Based on a survey of 140 senior African energy executives and in-depth interviews with industry experts, the report provides insight into investment and development trends in Africa’s clean energy sector.

Many African countries have strong renewable energy ambitions but to date only South Africa and Morocco have introduced fully fledged independent power producer (IPP) procurement programmes. Survey data indicates that wind, solar, hydro and biomass projects will play a major role in meeting Africa’s growing power needs, while geothermal power also has potential in East Africa. African renewables projects will offer great rewards but also present additional risks that investors and developers may not have encountered in other markets. These are discussed in the body of this report.

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Green Energy 2013: Renewable energy M&A activity in the Americas

05 Jun 2013

Clean Energy Pipeline and CohnReznick have collaborated to produce ‘Green Energy 2013: Renewable energy M&A activity in the Americas’. Some 217 renewable energy M&A deals valued at $15.9 billion were announced across the Americas in 2012, representing a 9% increase in value on the 225 deals totalling $14.6 billion announced in 2011. Wind and solar were the most active sectors, accounting for a combined 78% of the total value of all transactions.

The USA is by far the most attractive country for global corporates and investors. Almost 45% of survey respondents plan to invest in or acquire in the US renewable energy sector during the next 18 months, more than double the number targeting 2nd placed Germany. The USA is highly attractive due to its strong economy and attractive long term incentive framework. Canada shot up the Renewables Country A-list in the last 12 months – 20% of survey respondents are targeting Canada for clean energy investments during the next 18 months, significantly more than 12% last year.

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The UK offshore wind supply chain: why clusters matter

19 Apr 2013

Clean Energy Pipeline and PD Ports have collaborated to produce ‘The UK offshore wind supply chain: why clusters matter’. The report analyses the rationale behind establishing clusters of offshore wind technology, equipment and services companies. It also examines the optimal strategic location for offshore wind clusters in the UK as well as those areas within the supply chain where investment is required most urgently.

The northeast of England is the preferred location for an offshore wind cluster ahead of both the Scottish and East Anglian coasts. The northeast‘s attraction is due to its strong offshore oil and gas heritage, its close proximity to large offshore wind farms and development zones such as Dogger Bank, not to mention its extensive port infrastructure. The findings are based on a survey of over 70 senior executives in the European offshore wind sector, which was completed in March 2013.

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2013: A New Era for Clean Energy in Canada

17 Apr 2013

Clean Energy Pipeline and KPMG have collaborated to produce '2013: A New Era for Clean Energy in Canada'. This report provides insight into financing, investment and development trends in Canada’s clean energy sector. It is the first of a series of quarterly reports that will be published by Clean Energy Pipeline and KPMG’s Power & Utilities team.

As major pipeline of projects enter into their final phases of development and into construction and operation, 2013 looks to be a busy year for the industry. There is genuine consensus that project finance markets have materially improved since the Great Recession and that securing long term debt capital will be less challenging for developers marketing well structured projects. There are no signs that the availability of finance, rates or tenors will worsen this year, meaning that 2013 should be a healthy year for project finance.

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Crouching Tiger: How China will impact Europe’s renewable energy landscape

28 Nov 2012

Clean Energy pipeline and Taylor Wessing have collaborated to produce ‘Crouching Tiger: How China will impact Europe’s renewable energy landscape’. Based on a survey of 200 senior business executives in China and Europe, the report provides insight into M&A and project financing deal activity between Chinese and European renewable energy companies. It also examines sector trends including expansion strategies such as technology licensing and localised manufacturing.

Amongst other findings, the report highlights the dramatic increase of Chinese investment into Europe’s renewable energy sector. Survey respondents are unequivocal that this is just the beginning – over 75% of survey respondents predict that the number of Chinese acquisitions of European clean energy companies and projects will increase during the next 18 months.

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Private Capital and Clean Energy: Exploring a growing relationship

11 May 2012

Clean Energy pipeline and Taylor Wessing collaborated to produce ‘Private Capital and Clean Energy: Exploring a Growing Relationship’. Based on a survey of 120 senior business executives, the report analyses the growing role that private capital (family offices, private wealth managers, angel investors and high net worth individuals) will play in financing the European clean energy sector in response to the retreat of conventional financing sources.

The survey reveals that over 40% of private capital investors plan to allocate over 10% of their available funds to clean energy during the next 18 months, an increase of over 300% on the number that allocated this proportion during the previous 18 months.

Energy efficiency is set to be the greatest beneficiary of private capital investors’ growing interest in the clean energy sector. On the generation side, biomass and solar power projects are the most favoured sub-sectors according to 48% and 45% of surveyed family offices respectively. This is in stark contrast with institutional investors’ sector preferences.

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Green Power 2012

09 May 2012

For the third year running, KPMG and Clean Energy pipeline collaborated to produce ‘Green power 2012’. Based on a survey of 500 industry leaders comprising corporates, investors, debt providers, service providers and government agencies worldwide, the report analyses the M&A landscape in renewable energy in 2011/12, and provides insights on future market activity.

Renewable energy M&A activity shifted up a number of gears in 2011. A total of 591 deals valued at US$51.2bn were announced during the year, a significant increase on the 431 transactions totalling US$24.2bn recorded in 2010. Survey respondents are optimistic that renewable energy M&A activity will build on the momentum of 2011 and scale new heights during the next two years.

The report identifies that Asian investors are finally starting to push the acquisition button after many years of promising much but delivering very little. On the flipside utilities look set to throttle back on new acquisition activity as their focus turns to development and operation of their existing renewable portfolio. Many utilities are also undertaking divestment programmes in order to recycle funds into capital intensive offshore wind development initiatives.

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European Offshore Wind: Project cost and financing outlook

13 Apr 2012

Clean Energy pipeline and Invest Northern Ireland collaborated to produce ‘European Offshore Wind: Project cost and financing outlook’. Based on a survey of over 100 senior business executives, the report provides insights into the specific obstacles that must be overcome if Europe’s 2020 installation targets are to be achieved. It also outlines the potential for cost reductions across the entire supply chain and the factors that underpin greater efficiency.

On average, survey respondents expect the cost of developing and constructing offshore wind farms to fall to Eur2.28 million per MW in five years and Eur2.03 million per MW in ten years, a 6.1% and 16.5% decrease respectively compared to the cost today. These savings will be delivered by a c.5% reduction in the cost of wind farm installation, foundations and turbine towers over the next five years.

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Myths of Wind Power in India

07 Mar 2012

Hiren Shah's Myths of Wind Power in India analyses the Indian wind turbine market and addresses the pressures on profit margins, the limitations of existing infrastructure, future prospects of growth for equipment vendors and the imminent entry of Chinese turbine manufacturers to India.

The report outlines the existing turnkey solutions model that dominates Indian wind development and argues that it must shift to a more flexible, developer-led approach.

Hiren Shah leads Strategy and Sales for Global Wind Power Ltd, a renewable energy company and wind turbine manufacturer promoted by Reliance ADAG and other investors. The opinions expressed by the author do not necessarily reflect those of the company. The report was originally published in Renewable Watch magazine in September 2011.

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Renewables Deals - 2012 outlook and 2011 review

30 Jan 2012

PricewaterhouseCoopers’ Renewables Deals report analyses global trends in renewable energy and energy efficiency activity in 2011 and 2010 based on Clean Energy pipeline’s M&A and public markets data. The report analyses the major factors that drove M&A to reach record heights in 2011, which saw total deal volumes increase to $32.8 billion, up 40% from 2010. It also looks ahead to what will be driving M&A activity in the future. Clean Energy pipeline’s proprietary data reveals that total deal volumes in solar and energy efficiency nearly doubled year-on-year, accounting for 79% of the $15.3 billion increase in renewable energy M&A activity.

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Enter the Dragon: How China will impact Europe’s renewable energy landscape

20 Oct 2011

Clean Energy pipeline and Taylor Wessing collaborated to produce ‘Enter the Dragon: How China will impact Europe’s renewable energy landscape’. Based on a survey of 120 senior business executives, the report provides insight into M&A and project financing deal activity between Chinese and European renewable energy companies. It also examines sector trends including expansion strategies such as technology licensing and localised manufacturing.

Amongst other findings, the report identifies that Europe’s renewable energy sector, particularly the less mature markets of Central and Eastern Europe, are likely to benefit from significant investment by Chinese companies during the next 18 months. This investment will focus on pre-construction stage wind and solar projects where renewable energy manufacturers have a strategic interest in deploying their equipment.

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Green power 2011: The KPMG renewable energy M&A report

16 May 2011

For the second year running, KPMG and Clean Energy pipeline collaborated to produce Green power 2011. The report analyses the M&A landscape in renewable energy in 2010/11, as well as providing insights on future market activity. Based on a survey of 500 industry leaders comprising corporates, investors, debt providers, service providers and government agencies worldwide, the report identifies a clear regional investment bias. Green power 2011 also explores the potential impact of greater investment from pension funds in the clean energy sector, as well as the fluid transaction environment caused by spiralling oil prices, low gas prices and concerns over the viability of nuclear energy following the Fukushima disaster.

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Renewables Deals: 2010 Analysis and 2011 Foresight

28 Mar 2011

PricewaterhouseCoopers’s Renewables Deals report analyses global trends in renewable energy and energy efficiency activity in 2010 based on Clean Energy pipeline’s M&A and public markets data. The report shows a European and Asian cleantech sector dominated by smaller M&A deals, while larger deals continue to dominate in the USA. Clean Energy pipeline’s proprietary data marks 2010 as the coming of age of solar and energy efficiency sectors with significant growth in deal activity.

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Cleantech and the UK growth opportunity: Time to deliver

16 Dec 2010

This report was written as a collaboration between Ernst & Young, Clean Energy pipeline and Verdantix. Based on 300 survey responses and 23 interviews with cleantech industry leaders, the report outlines the cleantech and renewable energy growth opportunity and argues that clear and strong government policy is critical to delivering this growth and ensuring that the UK becomes a genuine market leader in the renewable sector. The report examines the effects of the Comprehensive Spend Review, the barriers to green economic growth and the UK’s current and future areas of green expertise.

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Bridging the Funding Gap: The financing challenge for European cleantech and renewable energy

29 Nov 2010

Written in conjunction with the international law firm Taylor Wessing, this report addresses the challenges of securing funding for European cleantech and renewable energy projects and companies. Despite the EU’s adoption of a target to generate 20% of energy from renewable energy by 2020, long-term bank financing is in short supply while VC/PE investment in the EU fell dramatically in 2009. Bridging the Funding Gap is based on a survey of over 200 senior industry executives conducted between June and September 2010 supplemented by in depth interviews with some of the industry’s leading figures. The report also includes data extracted from Clean Energy pipeline’s proprietary venture capital & private equity (VC/PE), mergers & acquisitions (M&A), project finance and public markets transaction databases.

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Cleantech Open 2010 – Driving Innovation: Trends, Technology and Investment

17 Nov 2010

Produced exclusively by Clean Energy pipeline, Cleantech Open 2010 – Driving Innovation: Trends, Technology and Investment examines the commercial and financial challenges facing early stage US cleantech and renewable energy companies. Conclusions were drawn from a survey of over 150 alumni of the Cleantech Open and the MIT Enterprise Forum's Ignite Clean Energy Competition. The survey was conducted in September and October 2010 with respondents coming from a wide range of sectors, with a particular emphasis on energy efficiency, green transportation and solar power. The report also draws on data and statistics from Clean Energy pipeline’s M&A and VC/PE transaction databases.

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Powering Ahead: 2010 (KPMG’s 2010 renewable energy M&A report)

24 May 2010

Solar continues to lead the way in the renewable energy sector as cleantech M&A activity picked up the pace in late 2009. Written in collaboration with Clean Energy pipeline, KPMG’s 2010 Renewable Energy M&A report, Powering Ahead: 2010, looks at the state of global M&A in the cleantech and renewable energy sector in 2009/2010, as well as identifying forward looking trends in the coming 18 months. The report is based on a global survey of 250 of the sector’s leading executives including corporates, investors, debt providers, service providers and government agencies.

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