Global funding in the wind sector totalled $10.5bn (€7.5bn) in Q1 2014, which included VC funding, public market financing, debt financing, and announced project funding deals.
According to the report, during Q1 2014 the major VC deal was by 3sun Group, a company that installs and maintains offshore wind turbines, which raised $16.7m (€12m) from Business Growth Fund.
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During the first quarter of 2014, announced large-scale project funding increased to $7.2bn (€5.1bn) in 29 deals compared to $4.9bn (€3.5bn) in 32 deals in the previous quarter.
Mercom said that a total of 20 investors have participated in multiple project funding deals during the quarter.
The major project funding deal was the $1.47bn received by Typhoon Offshore for its 600MW project.
More than 12GW of new project announcements globally were tracked by Mercom during the quarter in various stages of development.
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By GlobalDataAccording to the report, there were also six M&A transactions in Q1 2014, one of which disclosed amounts totaling $419m (€301m).
In the first quarter of 2014, project acquisitions totalled $3.8bn (€2.7bn) compared to $2bn (€1.4bn) in the previous quarter.
Mercom said the top five major project acquisitions by disclosed amount were led by the investment group La Caisse, which acquired a 25% stake of the 630MW London Array 1 wind project for $1.1bn (€792m).
This follows Brookfield Renewable Energy Partners’ purchase of the 321MW Bord Gais Energy wind project portfolio for $960m (€691m); Green Investment Bank and Marubeni’s 50% stake in the 210MW Westermost Rough offshore wind project for $832m (€599m); Copenhagen Infrastructure Partners’ purchase of a 67% economic share in a 900MW offshore grid connection for wind projects for $526m (€378m); and the Green Investment Bank’s purchase of a 10% stake in the 576MW Gwynt y Mor offshore wind project for $366m (€263m).
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