Investment Manager Survey: Renewables, Environment & Cleantech
Published: 15 May 2009
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30 slides, 27 figures
Executive Summary
This report provides insights into the future of investments in the renewables, environmental assets and cleantech (REC) sector. Based on interviews with 26 investment managers across the funding value chain and discussions with 7 industry experts the study concludes investors, funds and executives who successfully traverse the 2009 to 2010 funding gap will benefit from a positive investment environment from 2011.
How You Benefit
For Limited Partners and General Partners this survey-based report provides consistent industry data to validate decisions. The report details the industry consensus on the current challenges facing the REC investment community and identifies emerging remedies. Data on investment managers’ fund raising plans, expectations for the opening of the IPO market and rebalancing of investments clarify the future direction of REC investing. Taken together the data and analysis serve as a benchmark for the many decisions that must be taken to bridge the 2009 to 2010 funding gap. For corporate finance and technical advisory firms the report explains which areas clients will require help during the next 2 years and provides talking points for decision-maker meetings.
TABLE OF CONTENTS
EXECUTIVE SUMMARY
Key Findings
WHAT IS THE STRUCTURE OF THE REC SECTOR?
Defining The REC Sector
REC Investors Populate The Entire Value Chain
The REC Funding Value Chain
Investment Stages And Business Models
Renewables Dominate REC Portfolios
Number And Size Of REC Sector Investments
Key Advisory Firms For REC Investors
WHAT ARE THE KEY ISSUES TODAY?
Pre-Crunch Problems, Post-Crunch Remedies
Secondary Market In VC Portfolios
Acquire Technical Expertise
Carbon Compliance Buyers/Traders Buy Developers
More Valuable Grants And Subsidies
WHAT DOES THE FUTURE HOLD?
Key Issues For The Future
Strong Fundamentals: CO2 = The Macro Case For REC
Strong Fundamentals: Oil Prices Rebound
Strong Fundamentals: Carbon Prices Recover
Bridge The Funding Gap
Enhance Expertise, Expect Large Capital Needs
Manage Long Development, Old Tech Challenges
Future Investment Plans 2009/2010
Market Expectations For IPO Exits
Trade Sale And IPO Expectations 2009 To 2012
Fund Raising Continues In 2009 And 2010
REC Trends Summary