DGAP-News: M&A activity in the Renewable Energy sector is set to increase / Most deals are expected to take the form of strategic acquisitions / Study from Mergermarket and Rödl&Partner
(firmenpresse) - DGAP-News: Rödl&Partner GbR / Key word(s): Study/Mergers&Acquisitions
M&A activity in the Renewable Energy sector is set to increase / Most
deals are expected to take the form of strategic acquisitions / Study
from Mergermarket and Rödl&Partner
14.06.2012 / 09:00
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M&A activity in the Renewable Energy sector is set to increase / Most deals
are expected to take the form of strategic acquisitions / Study from
Mergermarket and Rödl&Partner
14 June 2012, London/Munich - The renewable energy space is expected to see
a high level of M&A activity in the next 12 months despite changes to
government incentive schemes in Europe and regulatory uncertainty in the
United States, according to the third edition of M&A in Renewable Energy -
Global Outlook 2012. The report, published by Rödl&Partner in association
with mergermarket , draws from interviews with 100 renewable energy M&A
professionals from the corporate, private equity and investment banking
communities to examine the challenges, opportunities and underlying deal
drivers in the sector.
The wind and photovoltaic (PV) subsectors are expected to experience the
most significant M&A activity, and respondents believe both wind and PV
will achieve grid parity as early as 2015 or 2016 in Germany, Italy and
Spain.
As far as specific geographies are concerned, 46% of respondents expect the
highest levels of M&A to come from the Asia-Pacific region, followed by
Europe and North America. The experts frequently note rising demand and a
desire for energy independence as important motivations for renewable
energy development in emerging markets.
Respondents expect government support (76%) and cash-rich corporate buyers
(47%) to be the most significant external drivers of M&A in the next 12
months. The top internal drivers include an acquirers' appetite for new
technology (72%) and their desire to grow market share (62%), followed by
attractively low valuations.
Recent M&A data shows the renewable energy sector has proved remarkably
resilient despite eurozone volatility, constrained bank lending and changes
to government incentive programmes. In 2011 the sector saw 210 deals worth
EUR25bn, representing a 135% increase in value and a modest 2% increase in
volume against 2010.
Additional findings in the report include:
- 47% of respondents expect special purpose vehicles (SPVs) to be the
most widely used deal structure.
- Access to financing will present the largest obstacle to dealmaking,
say 49% of respondents.
- 84% of respondents believe PE buyouts will increase over the coming
year in the sector, up from 55% in 2011.
- Trade sales will comprise the primary route to exit from PE portfolio
companies, say 54% of respondents.
Click here to download the full report: www.roedl.de/energie2012
Oliver Schmitt, Rödl&Partner Munich, says:
'It is a clear trend for 2012 that renewable energy companies will continue
to remain a dominant factor in the M&A market. This is partly due to the
consolidation of this market, where smaller players will be absorbed by
larger competitors. Furthermore, PE funds and pension funds are aware that
renewable energy projects and parks may provide quite high yields on their
investment compared to traditional investments in other sectors.'
Georg Abegg, Rödl&Partner Madrid, says:
'Spain and the other South European countries remain attractive for
investors, especially for those active in the solar sector. In numerous
regions, due to high amounts of sunshine and decreasing production costs,
energy supply at market prices is already theoretically possible. Grid
parity, supported by better efficiency and further reductions in plant and
system costs, could soon stimulate a new wave of investments in the
sector.'
Roberto Pera, Rödl&Partner Rome, says:
'The legislative uncertainty in Italy has brought the market to a stop for
new project developments, but the real M&A market, meaning the sale and
purchase of existing power plants, has become an increasingly attractive
investment option. US and German investment funds as well as private
investors have been particularly active buyers.'
Ulrike Brückner, Rödl&Partner Berlin/Johannesburg, says:
'The recent introduction of supportive programmes by several African
governments, particularly in South Africa, will promote the establishment
of a private sector in the respective markets. The enormous size of many of
the projects will lead to an increase in transactions in the sector.'
For more information please contact:
Felicity James
Mergermarket, a part of the Financial Times Group
Ph: +44 (0)207 010 6399
E: Felicity.James(at)mergermarket.com
Matthias Struwe
Rödl&Partner, Press officer
Ph: +49 (0) 911 9193-2845
E: matthias.struwe(at)roedl.de
About mergermarket:
mergermarket is an unparalleled mergers and acquisitions (M&A) intelligence
tool. In any market, the life blood of advisers is deal flow. Mergermarket
is unique in the provision of origination intelligence to the investment
banking, legal, private equity, acquisition finance, public relations and
corporate markets. With an unrivalled network of journalists covering M&A
across Europe, North America and APAC, mergermarket generates proprietary
intelligence and delivers it, together with daily aggregated content, both
on its mergermarket.com platform and by real-time email alerts to over 400
institutional subscribers. mergermarket is all about deal-making
intelligence.
www.mergermarket.com
About Rödl&Partner:
As one of the leading professional services firms in the field of
renewables, Rödl&Partner has decades of experience in advising the full
spectrum of interested parties - from utilities in Germany to project
developers in India, engineering groups in Brazil and investment funds in
USA. Our thorough and practical knowledge of the renewables markets ensures
that our clients get the best return from their opportunities and have the
right answers to proceed - anytime and anywhere in the world. With more
than 3,000 people in over 80 locations we are by your side as dynamic and
reliable partners in all of the world's major markets.
www.roedl.com
End of financial news
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