openPR Logo
Press release

Sector Spotlight - Q2 2011 European Environmental Roundup

07-06-2011 08:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: InfraNews

By Peter Kneller

The European renewable energy sector saw a heightened number of mid-sized M&A deals in the second quarter of 2011, with a strong showing from infrastructure funds and big buyout houses.

Perhaps most interestingly, the sector witnessed two infrastructure exits. At the start of June, Infigen, formally Babcock & Brown, finally managed to sell off its 128MW German wind portfolio in a EUR154m deal. The group had previously called off an auction of the assets in April 2010 after deciding bids were too low. The acquirer was German leasing and asset management business KGAL, as exclusively revealed by InfraNews on June 17.

Also in Germany, DIF sold off a 72.5MW portfolio of operational wind energy assets to EOS Holding, a Swiss company owned by a group of Swiss utilities and public institutions. The transaction occurred in March, though this was first reported, exclusively, by InfraNews in June. The assets are understood to have been valued at approximately EUR100m.

In addition, EOS also acquired a further 91MW of German wind from Danish developer Scan Energy, again, for approximately EUR100m.

In May, Antin Infrastructure Partners reached an agreement to acquire a 28MW Italian solar PV portfolio, valued at just over EUR100m, from developer Kinexia, while NIBC took an undisclosed stake in a 32MW French and Belgian wind portfolio in the same month.

European Renewables Ready for Investment
KKR global head of energy and infrastructure, Marc Lipshultz, told an IIF Americas conference, organised by InfraAmericas in New York in February, that the European renewables sector was ripe for investment. The firm backed up his comment when it announced the creation of a 50-50 joint venture with Sorgenia, the Italian energy company, to develop the production of energy from wind farms in France at the start of June. Assets in the JV, which has an enterprise value of EUR236m, include operational wind parks of around 153MW in installed capacity as well as a 95MW pipeline in an advanced stage of development. Swiss-based Partners Group will be investing alongside KKR in the venture.

Terra Firma has been increasingly vocal about its renewable energy appetite in recent times, and the firm struck two deals through portfolio companies in the second quarter. Its UK-based renewable energy business Infinis acquired a 100MW operational wind farm portfolio from SSE in April, more than doubling its installed wind capacity. This was followed up by Italian PV business Rete Rinnovabile’s EUR98m bolt-on of a 19MW portfolio of solar PV assets from Sorgenia in May.

In other deals, BNP Paribas Clean Energy Fund acquired the 25MW Gruig wind farm in Northern Ireland from developer RES UK & Ireland in April. In addition, Spain-based renewables business Gamesa lined up two exits, reaching an agreement to sell a 48MW wind farm to Polish utility PGE and selling a 30MW Spanish wind farm to Danish renewables business Greentech, both in June.

Elsewhere, Swiss utility BKW acquired two Italian wind farms totalling 62MW in installed capacity from Italian developer Fortore Energia in May.

Offshore Wind
Germany launched its long-anticipated EUR5bn offshore wind financing programme in June. The scheme, to be run by KfW, will have the firepower to support up to 10 offshore wind projects in Germany.

In the first instance, KfW can directly lend up to EUR400m to offshore projects alongside commercial banks. However, KfW’s commitment is not allowed to comprise more than 50% of the total debt package for a given project.

A second option would involve KfW making a direct investment in a project of up to EUR350m alongside commercial banks, while it could also fund commercial banks in the bank club a total of up to EUR350m.

The package also offers contingency financing support in the event of over-runs.

It is envisaged that the KfW package will help plug a debt funding gap for offshore wind projects which had previously been unable to bring in the requisite amount of bank finance.

To read the full article, click here:

For more information about InfraNews ( and find out if you are eligible for a free trial call Ken McAllister on + 44 (0) 207 786 9282 or e-mail at Please remember to quote your reference: INPR20OPR.

InfraNews is the most relevant, timely & accurate provider of news, analysis & research about the latest greenfield & brownfield infrastructure projects & deals across the European and global infrastructure communities.

1st Floor
4 City Road
Tel: + 44 (0) 207 786 9282
Fax: +44 (0) 207 256 7926
Contact: Celine Brissay

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Sector Spotlight - Q2 2011 European Environmental Roundup here

News-ID: 182272 • Views: 1014

More Releases from InfraNews

Why the Eurozone Sovereign Crisis is a Bad Thing for Infrastructure Investors
By Peter Allison To say that fear stalked European financial markets during August is something of an understatement. While temperatures rose in Greece, Italy and Spain, markets headed in the opposite direction. The underlying theme was volatility. The swing in yields on ten-year Spanish and Italian government treasuries was an eye-watering 1% during one week in August. Equities dropped in value and then recovered slightly. Then they fell again. The price
Will KKR, Munich Re T-Solar Investment Kickstart Renewables M&A In Spain?
By Peter Kneller The Spanish solar market has been experiencing some strange goings-on of late, most notably KKR and Munich Re’s investment in Grupo T-Solar’s 168MW Spanish and Italian solar portfolio. The deal – one of the largest investments in an operational solar PV portfolio in the renewable energy sector’s short history - took place against the background of increased regulatory pressure in the country’s solar market. The bulk of installed solar PV
InfraNews Case Study: Multicurrency Programme Sets a Precedent for Infra Investo …
The NOK3.8bn (EUR477.8m) of sterling, dollar and kroner bonds that a venture between UBS International Infrastructure Fund and CDC Infrastructure issued in the second half of June to finance its acquisition of an 8% stake in Gassled has established a template for other recent financial investors in Norway’s offshore gas pipeline company to follow. Further bond issues to provide acquisition finance for shares in the company that ships a quarter
InfraNews Case Study: BAA Broadens its Investor Base with Inaugural US Dollar Bo …
UK airports operator BAA refinanced most of its outstanding medium-term bank debt in June with an inaugural USD1bn bond issue that significantly furthered the company’ strategic plan of broadening its investor base. The BAA funding securitisation vehicle, set up by the Ferrovial-led Airport Development and Investment (ADI) consortium in August 2008 to refinance its GBP10.3bn acquisition of the company two years earlier, has now issued significant volumes of capital markets

All 5 Releases

More Releases for June

Cultural Club Community Day on June 8th
Cultural Club Community Day Thursday- June 08, 2017 This year's project focus was chosen by Heidi Theodore and the KW Market Center based on a need Heidi seen within her community. To debut this year's community event, KW has chosen the VFW(Veterans of Foreign War) Post 8679. Cultural Club Community Day is an initiative dedicated to celebrating Heidi Theodore's commitment to improve local communities. She is passionate about living wel on Monterey Peninsula. Please
Cultural Club Community Day on June 8th
Cultural Club Community Day Thursday- June 08, 2017 Keller Williams Coastal Estates Carmel is passionate about everyone living well on Monterey Peninsula. This year's project focus was chosen by Heidi Theodore and the KW Market Center based on a need Heidi seen within her community. To debut this year's community event, KW has chosen the VFW(Veterans of Foreign War) Post 8679. Cultural Club Community Day is an initiative dedicated to celebrating Heidi Theodore's commitment to improve local communities.
ReportsWorldwide has announced the addition of a new report title KENYA - POWER SECTOR JUNE 2016 to its growing collection of premium market research reports. This Report provides a comprehensive industry profile, analysis and outlook of Kenya’s Power Sector. Hydropower continues to dominate Kenya’s energy sector, however its share in the overall energy mix has decreased. In early 2016, total installed electricity capacity increased to 2,333MW. Total electricity generation expanded by 4.1%
AddressBase Events Announced for June 2012
Woking, Surrey 2nd May 2012 – Gazetteer specialists Aligned Assets have announced two free of charge events that will be providing attendees with further information on the Ordnance Survey’s AddressBase range of data products. Titled ‘AddressBase – All you need to know’, the first of these events will be held at Cardiff University on Thursday 14th June 2012, with the second at Minster Exchange in London on Wednesday 20th June 2012. The
Music fest on this June
Paying an ode to different genres like Instrumental, Punjabi & Bengali along with independent artists Mumbai 3rd June, 2010: For all fans of, the month of June is going to be a TREAT with music that promises to fulfill every listener's palette. Different genres will be highlighted every week starting with Instrumental followed by Punjabi, Bengali and finally showcasing the individual style of well known reality show contestants and winners.
Consolidated accounts as per 30 June 2007
During its meeting of 30 August 2007, the Board of Directors of CMB approved the consolidated accounts as per 30 June 2007. This press release also refers to the one distributed on 26 July 2007. All figures in this press release have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union. * * * The prospects for the remainder of the year remain favourable. Bocimar has