Jan. 17 (Bloomberg) — Europe’s development bank arranged
the most loans for clean-energy projects last year, pushing
ahead of the U.S. government as it financed some of the world’s
biggest offshore wind farms.
The European Investment Bank loaned $2.16 billion for the
industry in 2012 with 18 deals including funds for a wind farm
in the Baltic Sea owned by EnBW Energie Baden-Wuerttemberg AG,
according to an annual ranking by Bloomberg New Energy Finance.
Brazil’s state-lender was second, and the U.S. Federal Financing
Bank, which led a year ago, dropped out of the top 20.
Mitsubishi UFJ Financial ranked third after banking crises
in the U.S. and Europe dried up funds from commercial lenders
worldwide. The biggest and third biggest financing deals of the
year were for offshore wind farms.
“The EIB has played a vital role in financing large
renewable energy projects in the last few years as commercial
banks have been constrained by balance sheet pressures,” said
Angus McCrone, senior analyst for New Energy Finance.
The rankings by the London-based research group detail the
companies most active in financing the renewable energy industry
last year. Total investment dropped 11 percent to $268.7 billion
for industry segments including wind, solar, biofuels and
biomass power generation. Asset finance for utility-scale
projects fell 17 percent to $148.6 billion.
Investment Plunge
Investment dropped as much as 32 percent in the U.S., 51
percent in Italy and 68 percent in Spain. That offset gains in
China, which became the world’s biggest clean energy investor
last year, and in other developing nations.
In private equity and venture capital, HEAG SuedHessische
Energie AG invested the most through its $355.7 million
acquisition from EON SE of a stake in Suedgessische Energie, a
utility based in Darmstadt, Germany, that develops wind, solar
and bioenergy projects. Emerald Technology Ventures AG completed
the most number of deals, followed by Kleiner Perkins Caufield &
Byers.
Goldman Sachs Group Inc. led public market transactions in
2012, with Shanghai-based Guotai Junan Securities Co. in the
second position.
Goldman completed three deals valued at $405.6 million
including a share offering by Tesla Motors Corp. and the initial
public offering of Solarcity Corp. Morgan Stanley dropped to the
13th spot after leading in 2011 and 2009. Goldman last led in
2010.
“Last year was a very disappointing one for public market
investment in clean energy, with the total raised down 57
percent to $5.1 billion, the lowest since 2004,” McCrone said.
“But Goldman emerged as the lead manager for two of the most
interesting issues of the year.”
Linklaters LLP rose to the top of the list of legal
advisers on asset finance deals, supporting projects including
offshore wind farms in the U.K., and solar parks in Bulgaria and
South Africa.
To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net
To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net
