Cleantech news and financial analysis company Clean Energy Pipeline has reported a 20% year-on-year decrease in new investments in the global clean energy sector in 2013.
The company, in its preliminary financial analysis for the fourth quarter of 2013 (Q4 2013) and the whole year, has recorded a total investment of $212bn throughout 2013, which represents total investment in the global clean energy sector has fallen for two consecutive years.
In Q4 2013, the global clean energy sector attracted new investment of $58.2bn, up 15% on the $50.7bn compared to that of the third quarter of 2013 (Q3 2013), and down 21% on the $74.1bn compared to that of the year-ago quarter.
Clean Energy Pipeline has included venture capital, private equity, project finance, mergers and acquisitions (M&A) and public markets activity in its preliminary financial analysis.
It has reported a 25% year-on-year decline to $119b in project finance throughout 2013, but, Q4 2013 has recorded a 22% increase to $34.3bn as against the $28.2bn recorded in the Q3 2013 due to a 26% increase in European wind deals.
The company cited the surge in the European wind deals was due to $1.3bn debt financing allocated to four large offshore wind transmission assets, Greater Gabbard, HelWin1, SylWin1 and DolWin1, and $697m debt finance being invested in London Array and Gemini offshore wind farms.
The report has also attributed the refinancing of onshore wind farm portfolios including the $525m loan secured by Infinis for its 274MW portfolio of operational UK assets as the reasons for the increase in European deals.
In its preliminary financial analysis, the company reported that clean energy companies have secured $4.5bn and $13bn on the public markets via IPOs, secondaries and convertible notes for Q4 2013 and the whole year, respectively.
Additionally, clean energy M&A activity recorded a 6% increase to $12.6bn in Q4 2013 compared to the $11.9bn in Q3 2013, but a 39% year-on-year decrease on $20.6bn.
The company reported a 29% quarterly increase to $1.5bn in Q4 2013 and a 24% year-on-year decrease to $6.1bn in 2013.