Javelin Capital’s Post

Check out this quick read on renewable energy M&A predictions in 2024 from my friends at Javelin Capital. Excerpt: "Renewable industry observers expect a rebound in M&A deal flow in 2024 on expectations of interest rates stabilizing, helping to free up investor capital to flow back into the sector. One of the more promising drivers behind the bullish take on next year is that interest from foreign investors in the sector continues to remain high. That interest is partially due to favorable tax regimes under the Inflation Reduction Act, energy storage gaining more traction as an investable industry and further consolidation expected amongst industry participants." Jason Segal Matt Eastwick, CAIA #mergersandacquisitions #solar #energystorage #renewableenergy

New Project Media (NPM) looks at M&A trends in 2023 and a look ahead to 2024 Industry experts predict a return capital markets activity in renewable energy in 2024 driven by an easing of interest rates, a strong bid from foreign corporates and continued increase in the energy storage space. CLICK HERE to read: https://lnkd.in/eF-vButE #2024 #ready

GREENALIA, a pioneer in sustainable power generation, has secured $200M in funding to propel its U.S. renewable energy endeavors. Three-year credit facilities, supported by Greenalia Power US Advanced II, LLC, will fuel the development of solar, wind, and energy storage projects throughout the nation. Nomura Securities International led the charge as sole underwriter, arranger, and bookrunner, demonstrating their commitment to Greenalia's ambitious goals. PEI Global Partners served as exclusive financial advisor, ensuring optimal results. Legal expertise came courtesy of Holland & Knight LLP and Norton Rose Fulbright. With this landmark achievement, Greenalia embarks on a bold path towards expanding its presence in the U.S. market. Proceeds from the financing will enable Greenalia US to acquire, develop, construct, and operate utility-scale renewable energy projects, thus advancing its project portfolio. "We celebrate this monumental step in our U.S. expansion," said Antonio Fernández-Montells Rodríguez, CFO of Greenalia S.A. "Vinod Mukani, Head of Nomura Infrastructure & Power Business, expressed his enthusiasm regarding the partnership with Greenalia, stating, "Together, we envision unlocking the full potential of Greenalia's renewable energy project development capabilities in the U.S." #solarpower #solarenergy #solarindustry #cleanenergy #cleanenergytransition #solar #usa #finance #financing

Brookfield Unleashes $1.1bn into SAF – What’s Their Strategy for Diversifying Beyond Traditional Renewables? 💰 Analyse with Enerdatics! Brookfield Asset Management has made its first foray into sustainable aviation fuel (SAF) with a $1.1bn investment in Infinium’s eFuels platform. This includes a $200mn commitment to develop Project Roadrunner in Texas and up to $850mn for global eFuels projects. Funded through their $15bn Global Transition Fund, Brookfield is positioning itself at the forefront of decarbonization. Why SAF? As returns in traditional renewables (solar, wind) decline to single digits, Brookfield is pivoting toward high-growth areas like SAF and RNG, which promise double-digit IRRs. With robust policy support—like the $1.25/gallon SAF tax credit under the 2022 Inflation Reduction Act—SAF is becoming a lucrative investment opportunity. 🌍 A Broader Trend Among PE Majors Brookfield’s move aligns with similar actions by other global players: – KKR’s $2.5bn deal for stake in Enilive (SAF-focused subsidiary of Eni) – Macquarie’s $190mn investment in SkyNRG ♻️ Expanding Low-Carbon Horizons This SAF investment further solidifies Brookfield’s leadership in the low-carbon space, building on other significant deals: – $500mn investment in RNG firm California Bioenergy in Dec'22 – $550mn investment in CCS firm LanzaTech in Oct'22 – $500mn deal for 49% stake in a CCS facility in California in Aug'22 #BrookfieldAssetManagement #SustainableAviationFuel #SAF #CleanEnergy #GreenInvestments #RenewableEnergy #Decarbonization #LowCarbonEconomy #PrivateEquity #GlobalTransitionFund #eFuels #EnergyTransition #CarbonCapture #RNG #ClimateAction

"BrightNight, a leading renewable power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions, announced today a $440 million strategic investment from the Infrastructure business at Goldman Sachs Alternatives." #PrivateWealth #WealthManagement #RealAssets #PrivateMarkets #AlternativeInvestments #Alts #UHNW #HNW #FamilyOffices #IBD #RIA #PrivateInvestments #PrivateCredit #PrivateEquity

QuotedData have conducted an analysis of Downing’s Renewables & Infrastructure Trust (DORE), providing insights into DORE’s performance, market outlook, and current position.   Key takeaways from their extract:   • NAV total return of 33% since its IPO in December 2020 highlights the strong performance of DORE and there remains significant scope for the asset value to compound further as the portfolio develops.     • Operating profit was £24.7m, up 27% from the year prior, showcasing impressive profitability metrics given the portfolio is yet to fully mature.     • DORE announced a 7.85% increase in the 2024 target dividend, supported by a forecasted cash coverage ratio of 1.35x, highlighting stable earnings.    • DORE advanced its portfolio construction, investing £47m in 11 diversified projects across multiple technologies. “By almost every measure, DORE has delivered above expectations since its IPO in December 2020.” Read the full review here: https://lnkd.in/e2KbM2V2   Capital at risk. Returns not guaranteed.  #DORE #Renewables #Trust #Infrastructure  

ENVIRIA , a German C&I decentralised energy solutions provider, has entered into a definitive agreement on an equity investment of over $200 million from BlackRock, through its Global Renewable Power IV (GRP IV) fund. ENVIRIA said the additional capital will support the expansion of its already existing portfolio of 500 C&I solar projects across Germany as part of the company’s growth plan. “We are delighted to have found such a strong partner in BlackRock, who so enthusiastically supports our vision of empowering companies to harness the potential of solar,” said Melchior Schulze Brock, Founder and Chief Executive Officer of ENVIRIA. “BlackRock brings exactly the resources we need to continue our growth – both financially and in terms of knowledge." ENVIRIA is also supported in its goal by its Series A investors Galileo Green Energy, Redalpine, Alter Equity and BNP Paribas Développement. In addition to its 500 C&I solar portfolio, ENVIRA boasts a development pipeline that includes c.2,000 C&I projects totalling more than 2.3 GW, with a plan to deploy 1.7 GW by 2029. ENVIRIA represents the second investment that BlackRock’s GRP IV has made following the fund’s investment in Recurrent Energy in January. “Our investment in ENVIRIA adds to our strong track record of staying ahead of the curve in investing into infrastructure assets that are aligned with the energy transition, an investment theme that continues to show its growth and scalability,” commented Keith Mangan, Head of EMEA for Climate Infrastructure at BlackRock. Dirk Schmitz, Country Head of BlackRock in Germany, Austria, and Eastern Europe, added: “Germany’s shift to a low-carbon economy requires significant investment in renewable power infrastructure. “We are pleased to provide our clients access to this investment in a promising macro-economic environment for climate infrastructure in Germany." J.P. Morgan SE acted as exclusive placement agent to ENVIRIA on this transaction, while White & Case LLP acted as the legal advisor. #cleanenergy

Policy and regulatory uncertainty, as well as illiquidity, were also found to be barriers in AlphaReal study #renewables #investment #greenenergy https://lnkd.in/eNxyJHkz Author: Michael N.

The L&G NTR Clean Power (Europe) Fund, alongside the Development Bank of Japan Inc., acquired a minority stake in the 714 MW East Anglia ONE offshore wind farm in the UK. The UK offshore wind deal was completed by NTR plc on behalf of the fund, which is a joint partnership between NTR and Legal & General Investment Management (LGIM). “Following recent investments in solar and onshore wind, this latest investment in offshore wind diversifies the Fund’s allocation by asset type and geography,” said Anthony Doherty, NTR’s Chief Investment Officer. “Providing clean power for over 630,000 homes across the UK, East Anglia ONE Offshore windfarm is one of the country’s largest projects of its type and it’s hugely exciting to be part of it. This is the latest addition to the Fund which is helping to make contributions to the clean energy transition across Europe and we are delighted that DBJ has co-invested alongside the Fund to secure the asset.” “The range of investable assets coming as a result of Europe’s clean energy transition has been, and will continue to, grow rapidly in the coming years – particularly within the private markets arena,” added Bill Hughes, LGIM’s Global Head of Real Assets. “With a mix of diversification, resilience of cash flows and strong sustainability credentials, we believe there’s increasing potential for institutional investors. Marking its first investment in the UK, the East Anglia ONE Offshore windfarm is a fantastic milestone for the Fund. Hughes continued: “With a strong pipeline of capital deployment, we continue to strengthen and diversify our portfolio; seeking to deliver significant growth opportunities for long-term investors who are looking to tap into the European energy transition story. “The L&G NTR Clean Power Europe Fund is an exemplar partnership, and so we’re pleased to build on this: co-investing alongside Development Bank of Japan.” L&G NTR Clean Power (Europe) Fund has also completed recent investments in Spain, France, and Finland, including the Pajuperänkangas wind farm, which is currently under construction in North Ostrobothnia. The fund was advised by Watson Farley & Williams (legal), with K2 Management (technical) and Marsh (insurance). LGIM and NTR announced last year April that €390 million in committed capital and co-investment opportunity had been raised for the Clean Power (Europe) Fund. #cleanenergy

Are you looking to upgrade your real estate fund from Article 6 to Article 8 under the EU’s SFDR? In this new article in Renewables Investor, Kamahn Lee-Barron, Designated Person for Investment Management at TMF Group, outlines the factors you should consider. Read the full piece and align your real estate investments with SFDR to promote a more sustainable future: https://lnkd.in/e46wUCV7 #SFDR #realestate #RenewablesInvestor