bnef_global_trends_in_clean_energy_investment_q2_2012_fact_pack copy

GLOBAL TRENDS IN CLEAN ENERGY INVESTMENT, 11 JULY 2012 1 / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /

GLOBAL TRENDS IN CLEAN ENERGY INVESTMENT CHINA STARS AS QUARTERLY CLEAN ENERGY INVESTMENT NUMBERS REBOUND 24% OVER Q1

11 JULY 2012

FACT PACK AS AT Q2 2012

GLOBAL TRENDS IN CLEAN ENERGY INVESTMENT, 11 JULY 2012 2 / / / /

CONTENTS

1. Global clean energy new financial investment overview

2. Global clean energy acquisitions overview

3. Clean energy indexes

4. Appendix


8.6 7.8 7.79.711.5

15.713.2

18.219.021.021.6

32.9

26.127.6

33.3

46.2

34.3

46.7

41.241.2

25.3

45.0 44.942.4

47.6 48.5

55.5

63.8

52.3

72.5 70.9

58.2

48.0

59.6

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2004 2005 2006 2007 2008 2009 2010 2011 2012

Four quarter running average

NEW INVESTMENT IN CLEAN ENERGY Q1 2004–Q2 2012 ($BN)

Source: Bloomberg New Energy Finance Note: Total values include estimates for undisclosed deals. Excludes corporate and government R&D. Now includes small distributed capacity & adjustment for re-invested equity. NEW


8.6 7.8 7.79.711.5

15.713.2

18.219.021.0

21.6

32.9

26.127.6

33.3

46.2

34.3

46.741.2 41.2

25.3

45.0 44.942.4

47.6 48.5

55.5

63.8

52.3

72.5 70.9

58.2

48.0

59.6


2004 2005 2006 2007 2008 2009 2010 2011 2012

EMEA AMER ASOC

NEW INVESTMENT IN CLEAN ENERGY BY REGION Q1 2004–Q2 2012 ($BN)



8.6 7.8 7.79.711.5

15.713.2

18.219.021.0

21.6

32.9

26.127.6

33.3

46.2

34.3

46.741.2

41.2

25.3

45.044.942.4

47.648.5

55.5

63.8

52.3

72.5 70.9

58.2

48.0

59.6


2004 2005 2006 2007 2008 2009 2010 2011 2012

Wind Solar Biofuels Other

NEW INVESTMENT IN CLEAN ENERGY BY SECTOR Q1 2004–Q2 2012 ($BN)



8.6 7.8 7.79.711.5

15.713.2

18.219.021.0

21.6

32.9

26.127.6

33.3

46.2

34.3

46.7

41.2 41.2

25.3

45.0 44.942.4

47.648.5

55.5

63.852.3

72.5 70.9

58.2

48.0

59.6


2004 2005 2006 2007 2008 2009 2010 2011 2012

Asset finance* Public markets VC/PE Small distributed capacity

NEW INVESTMENT IN CLEAN ENERGY BY ASSET CLASS Q1 2004–Q2 2012 ($BN)



0.2 0.1 0.0 0.4 0.7 0.9 0.7

2.5 1.9

4.4

1.3

3.44.4 4.2 3.8

13.5

1.7

6.9

2.9

1.00.4

3.9 3.8

5.6

1.4

3.2 3.5

5.64.4 4.8

1.5 0.9 0.61.2


2004 2005 2006 2007 2008 2009 2010 2011 2012


PUBLIC MARKET NEW INVESTMENT IN CLEAN ENERGY Q1 2004–Q2 2012 ($BN)

Source: Bloomberg New Energy Finance


VC AND PE NEW INVESTMENT IN CLEAN ENERGY Q1 2004–Q2 2012 ($BN)

Source: Bloomberg New Energy Finance Note: Total values include estimates for undisclosed deals

0.2 0.6 0.4 0.3 0.5 0.7 0.4 0.8 1.1 1.5 1.8 1.21.8 1.5 1.7

2.6 2.53.1

4.02.6

1.31.7 2.2

1.42.7 2.6

1.5 1.7 1.9 2.4 2.0 1.9 2.1 1.5


2004 2005 2006 2007 2008 2009 2010 2011 2012



6.0 4.8 5.16.8 7.5

11.49.4

12.214.4

13.5

17.3

26.6

18.420.6

25.327.7

25.6

32.530.6

32.9

16.5

32.331.328.4

29.629.2

37.0

43.0

29.5

47.350.4

37.2

24.0

35.9


2004 2005 2006 2007 2008 2009 2010 2011 2012


ASSET FINANCING FOR NEW BUILD CLEAN ENERGY ASSETS, Q1 2004–Q2 2012 ($BN)

Source: Bloomberg New Energy Finance Note: Total values include estimates for undisclosed deals. Excludes small distributed capacity and adjustment for re-invested equity.


CONTENTS




4. Appendix


ACQUISITION TRANSACTIONS IN CLEAN ENERGY Q1 2004–Q2 2012 ($BN)


2.9 3.6

1.6

4.53.6

7.5 7.0

12.9

8.511.0

5.7

14.3

10.0

15.6

18.4

21.820.7

14.215.2

17.3

11.6

18.7

16.2

21.2

18.7

12.9

15.9

21.2

14.4

16.9

28.5

16.1

21.7

10.4


2004 2005 2006 2007 2008 2009 2010 2011 2012



CORPORATE M&A TRANSACTIONS IN CLEAN ENERGY, Q1 2004–Q2 2012 ($BN)


1.3 1.1 1.12.4

1.5

4.62.1

4.7 5.13.6 3.0 4.4 3.9 3.7

7.5

10.3

8.0

3.3

6.0

3.85.1

3.7

6.48.3 8.2

4.6 4.76.0

3.0

6.7

17.8

7.4

4.5

2.2


2004 2005 2006 2007 2008 2009 2010 2011 2012



RENEWABLE ENERGY ASSET ACQUISITIONS & REFINANCING, Q1 2004–Q2 2012 ($BN)


1.6 1.80.4

1.7 1.5 1.52.8

6.5

3.2 4.02.2

9.1

3.6

8.9 8.9 9.7

11.9

8.3

7.2

11.7

6.2

12.9

8.410.7

9.0

7.4

9.810.810.3 9.5 9.1

7.7

15.4

7.6


2004 2005 2006 2007 2008 2009 2010 2011 2012



CONTENTS




4. Appendix


NEX CLEAN ENERGY INDEX 2003 – 2012 YTD

Source: Bloomberg New Energy Finance Note: Values as of 1 July 2012; NASDAQ and S&P 500 rebased to 100 on 01 Jan 2003

0

100

200

300

400

500

Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12

S&P 500 NASDAQ NEX


NEX CLEAN ENERGY INDEX 2011 – 2012 YTD


50

60

70

80

90

100

110

120

130

140

150

Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12

S&P 500 NASDAQ NEX

Note: Values as of 1 July 2012; NASDAQ and S&P 500 rebased to 100 on 01 Jan 2011


NYSE BNEF REGIONAL CLEAN ENERGY INDEXES 2006 – 2012 YTD

Source: NYSE; Bloomberg New Energy Finance Note: Values as of 5 July 2012; rebased to 1000 on 30 Dec 2005

0

500

1,000

1,500

2,000

2,500

3,000

Dec 05 Sep 06 Jun 07 Mar 08 Dec 08 Sep 09 Jun 10 Mar 11 Dec 11

NYSE BNEF AMER Index

NYSE BNEF ASOC Index

NYSE BNEF EMEA Index

MSCI World & Emerging


NYSE GLOBAL CLEAN ENERGY SECTOR INDEXES 2006 – 2012 YTD

Source: NYSE; Bloomberg New Energy Finance Note: Values as of 5 July 2012; rebased to 1000 on 30 Dec 2005

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

Dec 05 Sep 06 Jun 07 Mar 08 Dec 08 Sep 09 Jun 10 Mar 11 Dec 11

NYSE BNEF Wind Index

NYSE BNEF Solar Index

NYSE BNEF EST Index

MSCI World & Emerging


CONTENTS




4. Appendix


TOP PUBLIC MARKET TRANSACTIONS OF THE QUARTER Q2 2012


ORGANISATION STOCK EXCHANGE SECTOR TYPE OF TRANSACTION

NEW EQUITY RAISED

TOTAL OFFERING

SIZE

Ilika PLC Shanghai Stock Exchange Fuel Cells IPO $339.9m $339.9m

American Superconductor Corp

Shenzhen Stock Exchange - Main Board Digital Energy IPO $157m $157m

Finavera Wind Energy Inc US - OTC Bulletin Board Wind OTC Secondary/PIPE $88m $88m

Lime Energy Co Shenzhen Stock Exchange - Main Board

Efficiency: Built Environment IPO $61m $61m

Unison Co Ltd/South Korea Nasdaq Global Select Market Wind Convertible $50m $50m


GLOBAL ASSET FINANCE SUMMARY Q2 2012

Source: Bloomberg New Energy Finance Note: Total values include estimates for undisclosed deals. Small distributed capacity excluded.

TYPE OF INVESTMENT AMOUNT NO. OF DEALS

Total new build asset financing $35.9bn 263

Refinancing $2.3bn 14

Acquisition $5.3bn 45

Total refinancing & acquisitions $7.6bn 59

Total asset financing $43.5bn 322

SECTOR AMOUNT NO. OF DEALS

Wind $21.5bn 126 Solar $11.5bn 108 Biomass & Waste $1.3bn 20 Small Hydro $1.1bn 7 Biofuels $0.5bn 1 Marine $0.04bn 1 Geothermal - - Total new build asset financing $35.9bn 263

REGION AMOUNT NO. OF DEALS

China $16.0bn 131

United States $6.8bn 28

Europe $6.6bn 36

Other AMER $2.6bn 16

India $1.3bn 12

Brazil $1.0bn 6

Other ASOC $1.0bn 29

Other EMEA $0.6bn 5 Total new build asset financing $35.9bn 263


GLOBAL VC AND PE SUMMARY Q2 2012


STAGE/TYPE OF INVESTMENT AMOUNT NO. OF DEALS

VC early stage. $0.8bn 32

VC late stage. $0.4bn 41

Total VC $1.2bn 73

PE expansion capital.. $0.3bn 17

Total VCPE new investment in companies $1.5bn 90

PE buy-out. $0.6bn 6

Total VCPE for companies $2.1bn 96 SECTOR AMOUNT NO. OF

DEALS

Energy smart technologies $0.6bn 35 Solar $0.5bn 25 Biofuels $0.3bn 13 Biomass & Waste $0.1bn 7 Low carbon services & support* $0.05bn 4 Wind $0.03bn 2 Marine $0.01bn 2 Small Hydro $0.004bn 1 Geothermal $0.002bn 1 Total VCPE new investment in companies $1.5bn 90

REGION AMOUNT NO. OF DEALS

United States $1.2bn 64 Europe $0.2bn 17 China $0.05bn 1 India $0.04bn 3 Other AMER $0.03bn 4 Other EMEA $0.004bn 1 Other ASOC - - Brazil - - Total VCPE new investment in companies $1.5bn 90


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GLOBAL TRENDS IN CLEAN ENERGY INVESTMENT ANGUS MCCRONE, [email protected] NICOLE ASPINALL, [email protected]

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