2013 CLEAN ENERGY & ENERGY SMART TECHNOLOGIES … · 2014. 1. 15. · financing of the 81MW Aichi...

1 2013 CLEAN ENERGY & ENERGY SMART TECHNOLOGIES LEAGUE TABLES / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /

2013 CLEAN ENERGY &

ENERGY SMART

TECHNOLOGIES LEAGUE

TABLES

JANUARY 2014

PATRICK MADDEN

ASSET FINANCE / M&A / PUBLIC MARKETS /

VENTURE CAPITAL / PRIVATE EQUITY

2 2013 CLEAN ENERGY & ENERGY SMART TECHNOLOGIES LEAGUE TABLES / / / /

CLEAN ENERGY & EST LEAGUE TABLES

CONTENTS

2. Introduction

3. League table role coverage

4. Asset finance

Lead arrangers

Syndicated lenders

Sponsors

Legal advisors

Financial advisors

Tax equity

11. M&A

Acquirers

14. Venture capital & private equity

Investors

Investors (by count)

18. Acquisition advisors

VC/PE and M&A financial advisors

VC/PE and M&A legal advisors

22. Public markets

Lead managers

Co-lead managers

Legal advisors

Bloomberg New Energy Finance (BNEF) Clean Energy & Energy Smart Technology

League Tables are the most transparent and comprehensive benchmarks for identifying

active clean energy investors, project financiers, investment banks and law firms.

The tables in this report cover deals across asset finance, M&A, venture capital/

private equity and public markets that have been reported as completed in 2013.

BNEF subscribers can access live league tables and apply filters to focus the results at

the link below:

www.bnef.com/LeagueTable

If you are not a subscriber and would like to hear more about the BNEF products,

please contact [email protected].

Due to the dynamic nature of the BNEF online product, league table rankings may vary

between this publication and data found on the BNEF website following the release date.

BNEF Clean Energy League Tables represent only transactions that are executed and

notified to BNEF at the time of writing.

BNEF does all it can to guarantee the accuracy of deal input data. Organisations are

recommended to contact the league table team directly prior to quarterly publication to

ensure that all applicable deals are correctly reflected in the BNEF database.

For league table data submissions or calculation queries, please contact:

[email protected]

http://www.bnef.com/LeagueTablehttp://www.bnef.com/LeagueTablemailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


LEAGUE TABLE ROLE COVERAGE

CLASS LEAGUE TABLE ROLE COVERAGE

ASSET FINANCE

Lead arrangers Mandated lead arrangers

Syndicated lenders Syndicated lenders

Sponsors Financial sponsors or acquirers

Legal advisors Legal advisor to equity sponsors and to sponsors

Financial advisors* Financial advisor to equity sponsors and to lenders

Tax equity* Tax equity investors

M&A, VENTURE

CAPITAL & PRIVATE

EQUITY (VC/PE)

M&A – acquirers Acquirers

VCPE – investors Lead and non-lead investor

VC/PE/M&A – financial advisors Advisor to M&A acquirer, M&A target, VC/PE investor, and VC/PE target

VC/PE/M&A – legal advisors Legal advisor to M&A acquirer, M&A target, VC/PE investor, and VC/PE target

PUBLIC MARKETS

Lead managers Global coordinator

Co-lead managers Co-lead manager

Legal advisors Legal advisor to issuer and to underwriter

The BNEF Clean Energy & EST League Tables cover a variety of activities in the clean energy and energy smart technology investment space. An

overview of the roles covered and the tables covering each role are given below.

Note: * New tables introduced this year.


ASSET FINANCE


ASSET FINANCE >>

TOP 10 DEALS – BY TOTAL DEBT

Note: The sponsors table calculates credit based on the total value of the deal while the lead arranger and syndicated lender tables use the disclosed deal debt value.

RANK ASSET CLOSE SECTOR DEBT VALUE ($M) LEAD ARRANGERS ($M CREDIT) SYNDICATED LENDERS ($M CREDIT)

1 Butendiek Offshore Wind Farm

07/02/2013 Wind 1,253.8 EIB (401.2); UniCredit (85.6); Rabobank (85.6);

BayernLB (85.6); Nord/LB (85.6); Sparkassen

Finanzgruppe Hessen-Thueringen (85.6); HSH

Nordbank (85.6); ING (82.2); SEB (85.6); KFW (85.6)

None disclosed

2 SunPower Solar Star PV Plant

27/06/2013 Solar 1,000.0 Citigroup (500.0) Sumitomo Mitsui Financial (15.0); Royal Bank

of Scotland (150.0); Canadian Imperial Bank

of Commerce (60.0); Mitsubishi UFJ Financial

(85.0); BNP Paribas (25.0); Barclays (150.0);

Mizuho Financial (15.0)

3 South Kent Wind Farm 08/03/2013 Wind 664.8 BPCE (48.5); Canadian Imperial Bank of Commerce (29.3); Royal Bank of Canada (48.5); Mitsubishi UFJ

Financial (87.8); BayernLB (48.5); Nord/LB (48.5);

Credit Agricole (44.5); Societe Generale (29.3); Royal

Bank of Scotland (48.5); Bank of Montreal (25.3);

KeyCorp (44.5)

Manulife Financial (67.8); Siemens (24.6)

4 Baltic II Offshore Wind Farm

10/01/2013 Wind 653.0 EIB (653.0) None disclosed

5 Continental US Wind Portfolio Refinancing

30/09/2013 Wind 635.0 None disclosed None disclosed

6 Alta Wind Farm Phase X & XI

03/06/2013 Wind 548.9 KeyCorp (80.7); Bank of Montreal (80.7); Credit

Agricole (65.0); Royal Bank of Scotland (80.7);

Mitsubishi UFJ Financial (80.7); Canadian Imperial

Bank of Commerce (80.7); ING (80.7)

US Bancorp (183.0); Federal Farm Credit

Banks (183.0); SunTrust Banks (183.0)

7 Macarthur Wind Farm Malakoff Acquisition

28/06/2013 Wind 483.5 Australia & New Zealand Banking (77.8); National

Australia Bank (56.7); EKF (158.3); Industrial &

Commercial Bank of China (33.7); ING (57.3); Shinsei

Bank (53.9); Clean Energy Finance (45.7)

None disclosed

8 Infinis UK Wind Portfolio Refinancing

07/10/2013 Wind 476.5 National Australia Bank (104.8); Royal Bank of

Scotland (185.8); Banco Santander (185.8)

None disclosed

9 Grand Renewable PV Plant

27/09/2013 Solar 472.5 Canadian Imperial Bank of Commerce (60.4); Royal

Bank of Canada (61.0); Mitsubishi UFJ Financial

(48.5); Rabobank (49.3); Nord/LB (49.3); National

Bank of Canada (49.3); Le Mouvement des Caisses

Desjardins (60.4); BPCE (48.5); KeyCorp (45.6)

None disclosed

10 Comber Wind Farm Refinancing

22/02/2013 Wind 440.5 None disclosed None disclosed


ASSET FINANCE >>

LEAD ARRANGERS

Mitsubishi UFJ Financial returns to top spot in the 2013

lead arrangers table, with a $2,094.3m credit and a 6.92%

table share across 36 deals. Notable deals include: Eurus

Energy Holdings’ project financing for the 148MW Eurus

Energy Rokkasho PV plant (Japan, $399.3m credit), the

refinancing of Consolidated Edison Development’s

$244.8m ConEd California PV portfolio (US), and the

financing of the 81MW Aichi Tahara Mega PV plant (Japan,

$104.9m credit).

The European Investment Bank (EIB) drops to second, with

a $1,821.2m credit from 13 deals, giving it a table share of

6.02%. Its largest deal remains the financing of EnBW’s

288MW Baltic II Offshore Wind Farm (Germany, $653m

credit). Other notable deals include the 270MW Butendiek

Offshore Wind Farm (Germany, $401.22m credit), the

258MW Enel Romania Wind Farm Portfolio (Romania,

$270.1m credit) and the 60MW Dalkia Biomass Plant

Portfolio (France, $129m credit).

BNDES enters the table in third, with $1,523.6m of credit

and a table share of 5.03% for 17 deals in 2013. These

included the following refinancings in Brazil: the 256MW

Verace Geribatu Wind Portfolio ($274 credit), the 40MW

and 120mLpa Adecoagro Ivinhema Bioethanol and Power

Plant ($241m credit), the 150MW Energisa Renascenca

Wind Portfolio ($190.4m credit) and the 108.2MW CPFL

Renovaveis Rio Grande do Norte Wind Portfolio ($176.4m

credit).

RANK ORGANISATION COUNT CREDIT ($M) TABLE SHARE (%)

1 Mitsubishi UFJ Financial 36 2,094.3 6.92

2 EIB 13 1,821.2 6.02

3 BNDES 17 1,523.6 5.03

4 Mizuho Financial 22 1,432.4 4.73

5 Deutsche Bank 13 934.8 3.09

6 Sumitomo Mitsui Financial 21 811.6 2.68

7 UniCredit 21 799.7 2.64

8 KFW 13 775.0 2.56

9 Banco Santander 16 666.1 2.20

10 Nord/LB 15 663.0 2.19

11 Overseas Private Investment 6 638.9 2.11

12 Credit Agricole 18 637.5 2.11

13 Standard Bank 6 620.2 2.05

14 Royal Bank of Scotland 7 572.3 1.89

15 HSH Nordbank 15 570.7 1.89

16 National Australia Bank 9 564.7 1.87

17 ING 10 552.3 1.83

18 SEB 10 533.6 1.76

19 Citigroup 2 505.8 1.67

20 Old Mutual 4 490.3 1.62

https://www.bnef.com/Organizations/40758https://www.bnef.com/Organizations/40758https://www.bnef.com/Organizations/40758https://www.bnef.com/Organizations/40758https://www.bnef.com/Organizations/40758https://www.bnef.com/Organisations/445https://www.bnef.com/Organisations/445https://www.bnef.com/Organisations/445https://www.bnef.com/Organisations/445https://www.bnef.com/Organisations/445https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/AssetFinancing/43570https://www.bnef.com/Organisations/71390https://www.bnef.com/Organisations/71390https://www.bnef.com/Organisations/71390https://www.bnef.com/Organisations/71390https://www.bnef.com/Organisations/71390https://www.bnef.com/AssetFinancing/42838https://www.bnef.com/AssetFinancing/42838https://www.bnef.com/AssetFinancing/42838https://www.bnef.com/AssetFinancing/42838https://www.bnef.com/AssetFinancing/42838https://www.bnef.com/AssetFinancing/42838https://www.bnef.com/AssetFinancing/42838https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/AssetFinancing/34762https://www.bnef.com/Organizations/538https://www.bnef.com/Organizations/538https://www.bnef.com/Organizations/538https://www.bnef.com/Organizations/538https://www.bnef.com/Organizations/538https://www.bnef.com/Organisations/8626https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/12214https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/45505https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/AssetFinancing/41036https://www.bnef.com/Organizations/1849https://www.bnef.com/AssetFinancing/43396https://www.bnef.com/AssetFinancing/43396https://www.bnef.com/AssetFinancing/43396https://www.bnef.com/AssetFinancing/43396https://www.bnef.com/AssetFinancing/43396https://www.bnef.com/AssetFinancing/43396https://www.bnef.com/AssetFinancing/43396https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/34426https://www.bnef.com/AssetFinancing/45947https://www.bnef.com/AssetFinancing/45947https://www.bnef.com/AssetFinancing/45947https://www.bnef.com/AssetFinancing/45947https://www.bnef.com/AssetFinancing/45947https://www.bnef.com/AssetFinancing/45947https://www.bnef.com/AssetFinancing/45947https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951https://www.bnef.com/AssetFinancing/45951


ASSET FINANCE >>

SYNDICATED LENDERS

Royal Bank of Scotland (RBS) takes first position in the

syndicated lenders table, with a $282.3m credit across four

deals, receiving a 6.56% market share. The deals were the

financing of the 681.2MW SunPower Solar Star PV Plant

(US, $150m credit), the acquisition financing of two UK

wind farm deals – Portfolio Middlemoor Lindhurst

Greencoat ($56.5m credit) and the Cotton Farm and Earls

Hall Wind Farms Greencoat ($48.4m credit) – as well as

the debt financing of the 218.3MW Pattern Panhandle Wind

Farm (US, $27.4m credit).

Mitsubishi UFJ Financial comes second for four deals, with

a total credit of $276.1m and a table position of 6.41%. It

took part in the development of the 42.9MW SB Energy

Yonago PV Plant (Japan, $139.8m credit), shared credit

with RBS on the SunPower Solar Star PV Plant (US, $85m

credit), took part in the 94.5MW Hallett I Wind Farm

Refinancing (Australia, $30.37m credit) and the 81.5MW

Marubeni Oita PV Plant (Japan, $20.93m credit).

Rabobank enters the table in third position, with a $212.5m

credit and a table share of 4.94% for the 100.6MW

SunEdison Llano de Llampos PV Plant (Chile).

SunTrust Banks, US Bancorp and Federal Farm Credit

Banks take joint fourth place, with $182.970m credit for one

deal – the development of the 226.5MW Alta Wind Farm

Phase X & XI (US).



2 Mitsubishi UFJ Financial 4 276.1 6.41

3 Rabobank 1 212.5 4.94

4 SunTrust Banks 1 183.0 4.25

4 US Bancorp 1 183.0 4.25

4 Federal Farm Credit Banks 1 183.0 4.25

7 Barclays 1 150.0 3.48

8 Old Mutual 2 144.5 3.36

9 Sparkassen Finanzgruppe Hessen-

Thueringen 1 126.3 2.93

10 Siemens 3 112.4 2.61

11 Shinhan Financial 1 111.3 2.58

11 LIG Insurance 1 111.3 2.58

13 Sumitomo Mitsui Financial 3 87.2 2.03

14 Nord/LB 1 83.5 1.94

15 Century Tokyo Leasing 1 78.7 1.83

15 Kagoshima Bank 1 78.7 1.83

15 Bank of Kyoto 1 78.7 1.83

18 EIB 1 72.3 1.68

19 World Bank 2 71.9 1.67

20 Bank Hapoalim BM 1 68.9 1.60

https://www.bnef.com/Organizations/40840https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/44468https://www.bnef.com/AssetFinancing/44468https://www.bnef.com/AssetFinancing/44468https://www.bnef.com/AssetFinancing/44468https://www.bnef.com/AssetFinancing/44468https://www.bnef.com/AssetFinancing/44468https://www.bnef.com/AssetFinancing/43240https://www.bnef.com/AssetFinancing/43240https://www.bnef.com/AssetFinancing/43240https://www.bnef.com/AssetFinancing/42560https://www.bnef.com/AssetFinancing/42560https://www.bnef.com/Organizations/40758https://www.bnef.com/AssetFinancing/28252https://www.bnef.com/AssetFinancing/28252https://www.bnef.com/AssetFinancing/28252https://www.bnef.com/AssetFinancing/28252https://www.bnef.com/Organizations/40840https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/38128https://www.bnef.com/AssetFinancing/38128https://www.bnef.com/AssetFinancing/38128https://www.bnef.com/AssetFinancing/38128https://www.bnef.com/AssetFinancing/31518https://www.bnef.com/Organizations/3586https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/Organizations/17352https://www.bnef.com/Organizations/28002https://www.bnef.com/Organizations/41463https://www.bnef.com/Organizations/41463https://www.bnef.com/AssetFinancing/40620https://www.bnef.com/AssetFinancing/40620


ASSET FINANCE >>

TOP 10 DEALS – BY TOTAL VALUE

RANK ASSET CLOSE DATE SECTOR TOTAL VALUE ($M) SPONSORS ($M CREDIT)

1 SunPower Solar Star PV Plant 27/06/2013 Solar 2,500.0 Berkshire Hathaway (2,500.0)

2 Butendiek Offshore Wind Farm 07/02/2013 Wind 1,897.0 Marguerite Adviser (426.8); Pensionskassernes Administration (426.8); Industriens

Pensionsforsikring (426.8); wpd (189.7); Siemens

(426.8)

3 Eskom Upington STEG Plant 16/10/2013 Solar 818.0 Eskom (818.0)

4 South Kent Wind Farm 08/03/2013 Wind 715.9 Pattern Energy (358.0); Samsung C&T (358.0)

5 Macarthur Wind Farm Malakoff Acquisition

28/06/2013 Wind 602.3 Malakoff (602.3)

6 ACWA & SolAfrica Bokpoort STEG Plant

28/06/2013 Solar 506.1 Lereko Investments (65.8); Lereko Metier Trustees

(60.7); Kurisani Youth Development Trust (25.3);

Arabian for Water and Power Development (202.4);

Public Investment (126.5)

7 Infinis UK Wind Portfolio Refinancing

07/10/2013 Wind 500.6 Terra Firma Capital Partners (500.6)

8 Eurus Energy Rokkasho PV Plant

30/09/2013 Solar 497.0 Toyota Tsusho (497.0)

9 Comber Wind Farm Refinancing 22/02/2013 Wind 440.5 Brookfield Asset Management (440.5)

10 Collgar Wind Farm Refinancing 28/11/2013 Wind 418.2 Retail Employees Superannuation (209.1); UBS International Infrastructure Fund (209.1)


ASSET FINANCE >>

SPONSORS

Berkshire Hathaway retains first place, with a credit of

$2,500m and a table share of 8% for the 681MW

SunPower Solar Star PV Plant located in California.

Eskom, South Africa’s parastatal power utility, enters the

table to take second position with a 3.44% table share

from closing financing to develop two South African

plants: the 100MW Upington STEG Plant ($818m credit)

and the Sere Wind Farm ($257.5m credit).

The South Africa-based wind and solar project

developer Cennergi drops to third with the same deals

as end-Q3. It receives a 1.98% table share from closing

financing to develop the 134.4MW Amakhala Emoyeni

Wind Farm ($391.2m credit) and the 93.3MW

Tsitsikamma Community Wind Farm ($228.98m credit),

both in the Eastern Cape, South Africa.

Similarly, Malakoff drops one position to fourth and a

table share of 1.93% and $602.3m credit for sponsoring

its 50% acquisition of the 420MW Macarthur Wind Farm

(Australia).

In fifth place, SunEdison receives a $581.3m credit and

a table share of 1.86% across 10 deals. The largest

credit was for developing the 100.6MW Llano de

Llampos PV Plant (Chile, $241m credit).

Brookfield Asset Management drops to sixth position,

with a table share of 1.82%, for the refinancing of the

Comber Wind Farm ($440.49m credit) and for

sponsoring the refinancing of the 50MW Gosfield Wind

Farm (128.1m credit), both in Canada.


1 Berkshire Hathaway 1 2,500.0 8.00

2 Eskom Holdings 2 1,075.5 3.44

3 Cennergi 2 620.1 1.98

4 Malakoff 1 602.3 1.93

5 SunEdison 10 581.3 1.86

6 Brookfield Asset Management 2 568.6 1.82

7 Toyota Tsusho 3 535.2 1.71

8 Terra Firma Capital Partners 2 500.6 1.60

9 Samsung C&T 5 457.1 1.46

10 Siemens 2 426.8 1.37

10 Marguerite Adviser 1 426.8 1.37

10 Pensionskassernes Administration 1 426.8 1.37

10 Industriens Pensionsforsikring 1 426.8 1.37

14 Mubadala Development 1 412.0 1.32

15 Veolia Environnement 2 403.0 1.29

16 Acciona 4 379.4 1.21

17 Pattern Energy 4 358.0 1.15

18 Renovalia Reserve 1 347.9 1.11

19 Instituto Costarricense de Electricidad 1 346.6 1.11

20 Sempra Energy 1 345.4 1.11

https://www.bnef.com/Organizations/15338https://www.bnef.com/Organizations/15338https://www.bnef.com/Organizations/15338https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/AssetFinancing/39776https://www.bnef.com/Organizations/5096https://www.bnef.com/AssetFinancing/17230https://www.bnef.com/AssetFinancing/17230https://www.bnef.com/AssetFinancing/17230https://www.bnef.com/AssetFinancing/17230https://www.bnef.com/AssetFinancing/17230https://www.bnef.com/AssetFinancing/19968https://www.bnef.com/AssetFinancing/19968https://www.bnef.com/AssetFinancing/19968https://www.bnef.com/AssetFinancing/19968https://www.bnef.com/AssetFinancing/19968http://dt4.prod.bloomberg.com/Organizations/63598http://dt4.prod.bloomberg.com/AssetFinancing/27728http://dt4.prod.bloomberg.com/AssetFinancing/27728http://dt4.prod.bloomberg.com/AssetFinancing/27728http://dt4.prod.bloomberg.com/AssetFinancing/27728http://dt4.prod.bloomberg.com/AssetFinancing/27728http://dt4.prod.bloomberg.com/AssetFinancing/27728http://dt4.prod.bloomberg.com/AssetFinancing/27728http://dt4.prod.bloomberg.com/AssetFinancing/27724http://dt4.prod.bloomberg.com/AssetFinancing/27724http://dt4.prod.bloomberg.com/AssetFinancing/27724http://dt4.prod.bloomberg.com/AssetFinancing/27724http://dt4.prod.bloomberg.com/AssetFinancing/27724http://dt4.prod.bloomberg.com/AssetFinancing/27724http://dt4.prod.bloomberg.com/AssetFinancing/27724https://www.bnef.com/Organizations/13765http://dt4.prod.bloomberg.com/Projects/918http://dt4.prod.bloomberg.com/Projects/918http://dt4.prod.bloomberg.com/Projects/918http://dt4.prod.bloomberg.com/Projects/918http://dt4.prod.bloomberg.com/Projects/918https://www.bnef.com/Organizations/8715https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810https://www.bnef.com/AssetFinancing/42810http://dt4.prod.bloomberg.com/Organizations/3465http://dt4.prod.bloomberg.com/Organizations/3465http://dt4.prod.bloomberg.com/Organizations/3465http://dt4.prod.bloomberg.com/Organizations/3465http://dt4.prod.bloomberg.com/Organizations/3465http://dt4.prod.bloomberg.com/AssetFinancing/36016http://dt4.prod.bloomberg.com/AssetFinancing/36016http://dt4.prod.bloomberg.com/AssetFinancing/36016http://dt4.prod.bloomberg.com/AssetFinancing/36016http://dt4.prod.bloomberg.com/AssetFinancing/36016http://dt4.prod.bloomberg.com/AssetFinancing/37738http://dt4.prod.bloomberg.com/AssetFinancing/37738http://dt4.prod.bloomberg.com/AssetFinancing/37738http://dt4.prod.bloomberg.com/AssetFinancing/37738http://dt4.prod.bloomberg.com/AssetFinancing/37738


ASSET FINANCE >>

LEGAL ADVISORS

Topping the asset finance legal advisors table is

Norton Rose, with a total credit of $2,650.2m and a

table share of 9.98% for 17 deals. The largest credit of

$948.5m came from the 288MW Butendiek Offshore

Wind Farm financing and the second-largest was for

the refinancing of the Infinis Wind Portfolio (UK,

$500.62m credit), with the third largest being the

refinancing of the London Array Offshore Wind Farm

Phase I Masdar (UK, $412m). Other deals included

the Scatec Solar Dreunberg PV Plant (South Africa,

$252.0m credit) and the Scatec Solar Linde PV Plant

(South Africa, $129.5m credit).

Dropping to second place is Herbert Smith Freehills

with a credit of $2,387.1m and a table share of 8.99%

for advising on 11 deals. The largest credit was for

advising the lenders on the Macarthur Wind Farm

Malakoff acquisition (Australia, $602.3m). Other

significant deals included advising on the Collgar Wind

Farm Refinancing (Australia, $418.2m credit), Boco

Rock Wind Farm Phase I (Australia, credit $334.0m

credit), Hallett IV Wind Farm Refinancing (Australia,

$418.2m), Musselroe Wind Farm refinancing

(Australia, credit $289.2m) and the Kiscol Kwale

Bioethanol and Power Plant (Kenya, credit $200.0m).

Linklaters remains in third place, with a $1,505.1m

credit for nine deals. It also received a $948.5m credit

for advising on the Butendiek Offshore Wind Farm.


1 Norton Rose Fulbright LLP 17 2,650.2 9.98

2 Herbert Smith Freehills LLP 11 2,387.1 8.99

3 Linklaters 9 1,505.1 5.67

4 Milbank Tweed Hadley & McCloy 15 1,296.2 4.88

5 Chadbourne & Parke 8 1,290.1 4.86

6 Baker & McKenzie LLP 8 1,217.6 4.58

7 Torys 5 1,215.9 4.58

8 Ashurst 5 1,202.4 4.53

9 Allen & Overy 9 1,201.6 4.52

10 King & Wood Mallesons 5 1,150.1 4.33

11 Bowman Gilfillan Inc 5 1,107.4 4.17

12 Blanke Meier Evers 1 948.5 3.57

13 Webber Wentzel 4 916.6 3.45

14 Shearman & Sterling 3 742.3 2.79

15 Clifford Chance 19 619.4 2.33

16 Fasken Martineau DuMoulin LLP 2 612.6 2.31

17 Latham & Watkins 4 582.0 2.19

18 Morgan Lewis & Bockius 2 371.5 1.40

19 Mijares Angoitia Cortes y Fuentes 1 347.9 1.31

20 Pillsbury Winthrop Shaw Pittman 1 319.4 1.20

https://www.bnef.com/Organizations/45968https://www.bnef.com/Organizations/45968https://www.bnef.com/Organizations/45968https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/44650https://www.bnef.com/AssetFinancing/44650https://www.bnef.com/AssetFinancing/44650https://www.bnef.com/AssetFinancing/44650https://www.bnef.com/AssetFinancing/44650https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/12180https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38528https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/AssetFinancing/38598https://www.bnef.com/Organizations/60082https://www.bnef.com/Organizations/60082https://www.bnef.com/Organizations/60082https://www.bnef.com/Organizations/60082https://www.bnef.com/Organizations/60082https://www.bnef.com/AssetFinancing/41072https://www.bnef.com/AssetFinancing/41072https://www.bnef.com/AssetFinancing/41072https://www.bnef.com/AssetFinancing/41072https://www.bnef.com/AssetFinancing/41072https://www.bnef.com/AssetFinancing/41072https://www.bnef.com/AssetFinancing/41072https://www.bnef.com/AssetFinancing/45395https://www.bnef.com/AssetFinancing/45395https://www.bnef.com/AssetFinancing/45395https://www.bnef.com/AssetFinancing/45395https://www.bnef.com/AssetFinancing/45395https://www.bnef.com/AssetFinancing/45395https://www.bnef.com/AssetFinancing/45395https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/40930https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/45577https://www.bnef.com/AssetFinancing/19483https://www.bnef.com/AssetFinancing/19483https://www.bnef.com/AssetFinancing/19483https://www.bnef.com/AssetFinancing/19483https://www.bnef.com/AssetFinancing/19483https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227https://www.bnef.com/AssetFinancing/15227http://www.bnef.com/Organizations/5936https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266https://www.bnef.com/AssetFinancing/16266


ASSET FINANCE >>

FINANCIAL ADVISORS

ANZ enters and takes first position in the asset finance

financial advisors table, with a $602.3m credit and a

table share of 14.99% for advising Malakoff on its

acquisition of the Macarthur Wind Farm (Australia).

HSBC drops one position to take second place, with a

table share of 12.56% for two South African deals. It

advised the borrower of the Gouda Wind Farm

($267.4m credit) and the lender of the Sishen PV Plant

($237.5m credit).

Bank of Nova Scotia takes third place, having not

advised on any additional deals in H2 2013. It advised

the lenders on the refinancing of the 166MW Comber

Wind Farm (Ontario, $440.5m credit) in Q1.

In fourth place, Banco Santander receives credit of

$358.5m for advising the sponsor on the refinancing of

the Renova Energia Wind Portfolio (Brazil, $271m

credit) as well as for advising the sponsor on the

refinancing of the Cabeco Preto and Pedra do Reino

Wind Portfolio (Brazil, 87.52m).

Special mention should go to the State Bank of India for

advising on seven deals in 2013. It reached sixth

position with a table share of 7.11% and received

$285.8m of credit.


1 ANZ 1 602.3 14.99

2 HSBC 2 504.9 12.56

3 Bank of Nova Scotia 1 440.5 10.96


5 Riverside Risk Advisors 1 319.4 7.95

6 State Bank of India 7 285.8 7.11

7 BNP Paribas 1 271.4 6.75

8 Macquarie 1 225.5 5.61

9 Willis Group 1 206.0 5.13


11 Infrastructure Leasing &

Financial Services 1 145.3 3.62

12 KPMG 1 124.3 3.09

13 Giza Singer Even 1 113.3 2.82

14 Carl Marks Advisory 1 101.0 2.51

15 Dexia 2 84.0 2.09

16 Deloitte Touche Tohmatsu 1 31.0 0.77

17 Royal Bank of Canada 1 0.0 0.00


17 Standard Bank 1 0.0 0.00

17 Operis Business Engineering 1 0.0 0.00

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ASSET FINANCE >>

TAX EQUITY

Since Q3 2013, Bloomberg New Energy Finance

has included small-scale distributed portfolio

deals in its Clean Energy and EST League

Tables. This has had a significant impact on the

number of tax equity deals credited.

JPMorgan Chase tops the table with a 26.53%

share of the disclosed credit to a value of

$768.5.0m over nine investments. The largest

credit was for the Vivint & JPM US Residential PV

Portfolio deal ($200m credit). Other significant

deals include the Sunrun, JPM & US Bank US

Residential PV Portfolio ($157.5m credit) and the

Anacacho Wind Farm (US, $105.6m credit).

Goldman Sachs retains the second spot as in Q3

2013, with a 22.24% share of the disclosed credit

to a value of $644.5m over two investments, the

largest of which is the SolarCity & Goldman

Sachs US PV Portfolio $500.0m credit).

Bank of America enters the table in third place,

with a total credit of $569.1m and a table share of

19.64%. It closed seven tax-equity deals, most

notably the Blackwell & Minco III Wind Portfolio

($170m credit), the SolarCity & BAC US

Commercial PV Portfolio ($100m credit) and the

SunPower & BAC US Residential PV Portfolio

($100m credit).


1 JPMorgan Chase 9 768.5 26.53

2 Goldman Sachs 2 644.5 22.24

3 Bank of America 7 569.1 19.64

4 US Bancorp/MN 2 257.5 8.89

5 Wells Fargo & Co 3 135.1 4.66

6 MetLife Inc 2 132.3 4.56

7 Citigroup 1 97.7 3.37



9 General Electric 1 72.5 2.50

11 State Street Corp 1 59.8 2.06

12 PNC Financial Services

Group Inc/The 1 0.0 0.00

Bloomberg New Energy Finance defines a ‘tax equity investor’ as an equity provider for

a renewable project made for the purpose of claiming a production tax credit (PTC) or

investor tax credit (ITC) created from the sale of power generated by the project.

2013 is the first time Bloomberg New Energy Finance has published a table tracking

tax equity investors. At present we only consider tax equity deals in the US on the plant

level (not aggregated investment figures).

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For data submissions or queries, please contact:

[email protected]

M&A M&A


M&A >>

TOP 10 DEALS


[email protected]

RANK TARGET CLOSE DATE SECTOR VALUE ($M) ACQUIRERS ($M CREDIT)

1 ERG Wind Investments 13/02/2013 Wind 1,155.7 ERG (1155.7)

2 Kraftgarden 27/06/2013 Small hydro 770.0 EPV Energy (770.0); Helsingin Energia (770.0); Kymppi-Maukkaat (770.0)

3 Power-One 26/07/2013 Solar 748.5 ABB (748.5)

4 Invenergy Wind 08/01/2013 Wind 500.0 Caisse de Depot et Placement du Quebec (500.0)

5 EDP Renovaveis Portugal 30/06/2013 Wind 467.0 China Three Gorges (467.0)

6 RidgeWind 01/02/2013 Wind 396.4 Blue Energy (396.4)

7 DONG Energy 19/02/2013 Wind 318.9 Energa (318.9); PGE (318.9)

8 Western Wind Energy 27/05/2013 Wind 295.9 Brookfield Asset Management (295.9)

9 Iberdrola 26/02/2013 Wind 263.8 Energa (263.8); PGE (263.8)

10 B456 Systems 29/01/2013 Energy storage 256.6 Wanxiang (256.6)


M&A >>

ACQUIRERS

ERG has been in first place since Q2 with its acquisition

of an 80% stake in ERG Wind Investments, a Gibraltar-

based company focused on renewable energy from

wind. It receives $1,155.7m in credit and a table share

of 10.98%.

Remaining in joint second place, EPV Energy, Kymppi-

Maukkaat and Helsingin Energia are each credited with

$770.0m and a table share of 7.31% for the acquisition

of a 25.7% stake in Kraftgarden, a Sweden-based

hydropower generation company.

ABB enters the M&A acquirers table in fifth place with a

credit of $748.5m and a table share of 7.11% for the

100% acquisition of Power-One, a California-based

manufacturer of power conversion products.

PGE and Energa take joint sixth place, with a $582.7m

credit and a table share of 5.54% for three deals. The

acquisitions were for DONG Energy, a Denmark-based

power generator and related service provider ($318.9m

credit), Iberdrola, a Spain-based renewable energy

project developer ($263.8m credit) and a 25% stake in

Iberdrola Renewables Polska, a Poland-based wind

farm developer (for an undisclosed amount).

Caisse de Depot et Placement du Quebec moves into

eighth position after acquiring Invenergy Wind, a

Chicago-based wind project developer, for $500.0m


1 ERG 1 1,155.7 10.98

2 EPV Energy 1 770.0 7.31

2 Helsingin Energia 1 770.0 7.31

2 Kymppi-Maukkaat 1 770.0 7.31

5 ABB 1 748.5 7.11

6 Energa 3 582.7 5.54

6 PGE 3 582.7 5.54

8 Caisse de Depot et Placement du

Quebec 1 500.0 4.75

9 China Three Gorges 1 467.0 4.44

10 Blue Energy 1 396.4 3.77

11 Green Investment Bank 2 337.8 3.21


13 SolarCity 2 278.0 2.64

14 Wanxiang 1 256.6 2.44

15 PNE Wind 2 241.1 2.29

16 Neo Solar Power 1 216.3 2.05

17 Quadran 1 214.0 2.03

18 Beijing Energy Investment Holding 1 208.7 1.98

19 Anhui Shengyun Machinery 1 202.3 1.92

20 DCNS 1 173.1 1.64

https://www.bnef.com/Organizations/11060https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/Organizations/12927https://www.bnef.com/Organizations/12927https://www.bnef.com/Organizations/12927https://www.bnef.com/Organizations/85800https://www.bnef.com/Organizations/85800https://www.bnef.com/Organizations/85800https://www.bnef.com/Organizations/85798https://www.bnef.com/Organizations/85798https://www.bnef.com/Organizations/85798https://www.bnef.com/MA/28858https://www.bnef.com/Organizations/594https://www.bnef.com/MA/29222https://www.bnef.com/MA/29222https://www.bnef.com/MA/29222https://www.bnef.com/Organizations/26528https://www.bnef.com/Organizations/12341https://www.bnef.com/MA/29072https://www.bnef.com/MA/29072https://www.bnef.com/MA/29072https://www.bnef.com/MA/29074https://www.bnef.com/MA/29060https://www.bnef.com/MA/29060https://www.bnef.com/MA/29060https://www.bnef.com/MA/29060https://www.bnef.com/MA/29060https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/Organizations/7112https://www.bnef.com/MA/29068https://www.bnef.com/MA/29068https://www.bnef.com/MA/29068



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VENTURE CAPITAL/

PRIVATE EQUITY VENTURE CAPITAL/

PRIVATE EQUITY


VC/PE >>

TOP 10 DEALS


[email protected]

RANK TARGET CLOSE DATE SECTOR VALUE ($M) INVESTORS ($M CREDIT)

1 CeramTec 16/06/2013 Fuel cells 1,988.7 Cinven (1988.7)

2 National Electric Vehicle Sweden

08/01/2013 Advanced

transportation 308.1 Qingdao Qingbo Investment (308.1)

3 China Merchants New Energy Holdings

10/06/2013 Solar 273.0 Goldpoly New Energy Holdings (273.0)

4 Renewable Energy Developers

08/10/2013 Wind 176.9 Capstone Infrastructure (176.9)

5 Greenko Mauritius 15/03/2013 Wind 151.1 GIC (151.1)

5 Bloom Energy 13/05/2013 Fuel cells 130.0 Credit Suisse (130.0)

7 Entergy Solutions District Energy

30/09/2013 Efficiency: built

environment 130.0 Brookfield Asset Management (130.0)

8 InterEnergy 21/02/2013 Wind 100.0 World Bank (100.0)

9 Capistrano Wind Partners 11/02/2013 Wind 100.0 AMP (100.0)

10 Energias Renovaveis do Brasil

19/09/2013 Biomass & waste 96.9 BNDES (42.6)


VC/PE >>

INVESTORS BY CREDIT

Cinven enters the table for the first time and ends up

in first position with a significant table share of 38.76%

and a total credit of $1,988.7m. Rockwood Holdings (a

US-based chemicals and materials company) sold

CeramTec to Cinven in a private equity buy-out.

Qingdao Qingbo Investment drops to second position

and a table share of 6%, with the acquisition of a 22%

stake in National Electric Vehicle Sweden – a

Stockholm-based investment holding company – for

$308.1m in a private equity funding round.

Goldpoly New Energy finishes in third place. It

invested $273.02m for an 8% stake in China

Merchants New Energy, a China-based rooftop solar

project developer.

Capstone Infrastructure enters the table in fourth

position for the $176.87m buy-out of Renewable

Energy Developers.

GIC comes fifth. It invested $151.1m in Greenko, a

Mauritius-based renewable energy project developer,

for a table share of 2.94%.

Credit Suisse and Brookfield Asset Management take

joint sixth position with a $130m credit each. For

Credit Suisse this was for the investment in Bloom

Energy, a California-based fuel cell developer, and for

Brookfield Asset Management for the acquisition of an

undisclosed stake in Entergy Solutions District Energy,

a Louisiana-based company that manages, operates,

and serves thermal energy and related systems.


1 Cinven 1 1,988.7 38.76

2 Qingdao Qingbo Investment 1 308.1 6.00

3 Goldpoly New Energy 1 273.0 5.32

4 Capstone Infrastructure 1 176.9 3.45

5 GIC 1 151.1 2.94

6 Credit Suisse 1 130.0 2.53


8 World Bank 2 113.6 2.21

9 Proventus 2 100.3 1.96

10 AMP 1 100.0 1.95

11 6963218 Canada 2 57.4 1.12

12 New Zealand Superannuation

Fund Authority 1 55.0 1.07


14 Venrock Associates 2 45.3 0.88

15 Google 3 44.9 0.87


17 BNDES 1 42.6 0.83

18 Denham Capital Management 2 33.8 0.66

19 Massachusetts Mutual Life

Insurance 1 30.0 0.58

19 Hanwha Chemical 1 30.0 0.58

https://www.bnef.com/Organizations/88246https://www.bnef.com/Organisations/34456https://www.bnef.com/VCPE/6988https://www.bnef.com/Organizations/88246https://www.bnef.com/Organizations/80086https://www.bnef.com/Organizations/80086https://www.bnef.com/Organizations/80086https://www.bnef.com/Organizations/80086https://www.bnef.com/Organizations/80086https://www.bnef.com/VCPE/6420https://www.bnef.com/VCPE/6420https://www.bnef.com/VCPE/6420https://www.bnef.com/VCPE/6420https://www.bnef.com/VCPE/6420https://www.bnef.com/VCPE/6420https://www.bnef.com/VCPE/6420https://www.bnef.com/Organizations/38027https://www.bnef.com/Organizations/38027https://www.bnef.com/Organizations/38027https://www.bnef.com/Organizations/38027https://www.bnef.com/Organizations/38027https://www.bnef.com/VCPE/5636https://www.bnef.com/VCPE/5636https://www.bnef.com/VCPE/5636https://www.bnef.com/VCPE/5636https://www.bnef.com/VCPE/5636https://www.bnef.com/VCPE/5636https://www.bnef.com/VCPE/5636https://www.bnef.com/Organizations/38316https://www.bnef.com/Organizations/38316https://www.bnef.com/Organizations/38316https://www.bnef.com/Organizations/37982https://www.bnef.com/Organizations/37982https://www.bnef.com/Organizations/37982https://www.bnef.com/Organizations/37982https://www.bnef.com/Organizations/37982https://www.bnef.com/Organizations/7734https://www.bnef.com/VCPE/6376https://www.bnef.com/Organizations/2025https://www.bnef.com/Organizations/2025https://www.bnef.com/Organizations/2025https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/2025https://www.bnef.com/Organizations/2025https://www.bnef.com/Organizations/2025https://www.bnef.com/VCPE/6528https://www.bnef.com/VCPE/6528https://www.bnef.com/VCPE/6528https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/Organizations/3465https://www.bnef.com/VCPE/7000https://www.bnef.com/VCPE/7000https://www.bnef.com/VCPE/7000https://www.bnef.com/VCPE/7000https://www.bnef.com/VCPE/7000https://www.bnef.com/VCPE/7000https://www.bnef.com/VCPE/7000


VC/PE >>

INVESTORS BY DEAL COUNT

Demeter Partners remains first with nine investments. The

highest credit is for its involvement in the $8.7m investment

in Quadran, a France-based company which owns wind,

solar and small hydropower plants. Other investments

include raising $3m for the second tranche investment in

Semco Engineering, a France-based solar equipment

manufacturer; a second deal with Quadran, this time a

$2.27m private equity expansion; a $1.3m acquisition of an

undisclosed stake in Electrawinds, a Belgium-based clean

energy provider; as well as a $1.0m investment in Comarth

Engineering, a Spain-based company engaged in the design

and development of electric sports vehicles.

Khosla Ventures and 350 Investment Partners are tied in

second place for seven deals. The former receives $29.7m,

primarily from its investment in View, California-based

electronically tinting window technology developer ($12m

credit), and Varentec, a US-based advanced power

electronics equipment developer, ($8m credit). 350

Investment Partners receives $5.4m, most notably from its

investment in 4energy, a UK-based cooling systems

company ($2.75m credit) and MHA Lighting ($1.1m credit), a

UK-based energy efficient LED manufacturer.

RockPort Capital Partners and Draper Fisher Jurvetson hold

joint fourth place, with a table share and deal credit of 0.46%

and $23.4m and $17m and 0.33% respectively.


1 Demeter Partners 9 18.0 0.35

2 Khosla Ventures 7 29.7 0.58

2 350 Investment Partners 7 5.4 0.10

4 RockPort Capital Partners 6 23.4 0.46

4 Draper Fisher Jurvetson 6 17.0 0.33

6 Kleiner Perkins Caufield & Byers 5 20.4 0.40

6 Chrysalix Energy 5 9.3 0.18


8 New Enterprise Associates 4 13.6 0.26

8 Claremont Creek Ventures 4 11.4 0.22

8 Chrysalix SET 4 0.0 0.00

12 Google 3 44.9 0.87

12 Sigma Partners 3 15.5 0.30

12 ABB 3 15.2 0.30

12 EnerTech Capital 3 14.3 0.28

12 Clipper Acquisitions 3 13.5 0.26

12 NRG Energy 3 12.8 0.25

12 Vision Ridge Partners 3 11.1 0.22

12 North Bridge Venture Partners 3 8.9 0.17

12 Edison International 3 8.1 0.16

https://www.bnef.com/Organizations/7694https://www.bnef.com/Organizations/7694https://www.bnef.com/Organizations/7694https://www.bnef.com/VCPE/6778https://www.bnef.com/VCPE/7149https://www.bnef.com/VCPE/7149https://www.bnef.com/VCPE/7149https://www.bnef.com/VCPE/7147https://www.bnef.com/VCPE/3894https://www.bnef.com/VCPE/6272https://www.bnef.com/VCPE/6272https://www.bnef.com/VCPE/6272https://www.bnef.com/Organizations/3132https://www.bnef.com/Organizations/13195https://www.bnef.com/Organizations/13195https://www.bnef.com/Organizations/13195https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/VCPE/7012https://www.bnef.com/VCPE/6894https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/Organizations/14https://www.bnef.com/VCPE/6594https://www.bnef.com/VCPE/6594https://www.bnef.com/VCPE/6390https://www.bnef.com/VCPE/6390https://www.bnef.com/VCPE/6390https://www.bnef.com/Organizations/586https://www.bnef.com/Organizations/586https://www.bnef.com/Organizations/586https://www.bnef.com/Organizations/586https://www.bnef.com/Organizations/586https://www.bnef.com/Organizations/151https://www.bnef.com/Organizations/151https://www.bnef.com/Organizations/151https://www.bnef.com/Organizations/151https://www.bnef.com/Organizations/151



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ADVISORS ADVISORS


ACQUISITION ADVISORS >>

TOP 10 DEALS


[email protected]

RANK TARGET CLOSE

DATE SECTOR

VALUE

($M)

FINANCIAL ADVISORS ($M

CREDIT) LEGAL ADVISORS ($M CREDIT)

1 CeramTec 16/06/2013 Fuel cells 1,988.7 None disclosed None disclosed

2 ERG Wind Investments 13/02/2013 Wind 1,155.7 BNP Paribas (577.9); UniCredit

(577.9) DLA Piper (1155.7)

3 Kraftgarden 27/06/2013 Small hydro 770.0 PricewaterhouseCoopers (770.0) None disclosed

4 Power-One 26/07/2013 Solar 748.5 Credit Suisse (748.5); Goldman

Sachs (748.5)

Jones Day (249.5); Freshfields

Bruckhaus Deringer (249.5); Cleary

Gottlieb Steen & Hamilton (249.5);

Simpson Thacher & Bartlett (374.3);

Gibson Dunn & Crutcher (374.3)

5 Invenergy Wind 08/01/2013 Wind 500.0 HSBC (500.0) None disclosed

6 EDP Renovaveis

Portugal 30/06/2013 Wind 467.0 Banco Espirito Santo SA (467.0) None disclosed

7 RidgeWind 01/02/2013 Wind 396.4 None disclosed None disclosed

8 DONG Energy 19/02/2013 Wind 318.9 Banco Santander (159.5); Morgan

Stanley (159.5) Clifford Chance (318.9)

9 National Electric

Vehicle Sweden 08/01/2013

Advanced

transportation 308.1 None disclosed None disclosed

10 Western Wind Energy 27/05/2013 Wind 295.9 Rothschild (295.9) Torys (148.0); McMillan (148.0);

Troutman Sanders (295.9)


M&A AND VC/PE >>

FINANCIAL ADVISORS

PricewaterhouseCoopers remains in the top position, with a

deal credit of $952.4m and table share of 13.64%. $770.0m

credit was gained for advising EPV Energy, Kymppi-

Maukkaat and Helsingin Energia on their 25.7% acquisition

of Kraftgarden, a Sweden-based hydropower generation

company. Other significant deals include advising Marubeni

on its 25% acquisition of Mainstream Renewable Power, a

Dublin-based renewable energy project developer ($136.2m

credit) and for advising MillinetSolar on its sale to BST and

JIN Young R&S for $46.2 credit. It also advised Eagle West

Wind Energy of Abbotsford, a Canada-based wind turbine

installation firm on its sale to Borea, for an undisclosed

amount.

Credit Suisse takes second place with a credit of $780.9m

and a table share of 11.18% for advising ABB on its

acquisition of Power-One, the California-based manufacturer

of power conversion products ($748.5m credit) as well as

advising Apia Sp Participacoes and Indoagri Brazil

Participacoes on their 50% acquisition of Cia Mineira de

Acucar e Alcool Participacoes, a Brazilian sugarcane

bioethanol, sugar and bioelectricity producer and project

developer ($32.4m credit).

In third place is Goldman Sachs, with an 11.15% table share

and a total credit of $778.5m. It advised Power-One in the

above-mentioned sale to ABB ($748.5m credit) as well as

advising MiaSole, a California-based manufacturer of CIGS

thin-film solar products, in its sale to Hanergy.


1 PricewaterhouseCoopers 4 952.4 13.64



4 BNP Paribas 1 577.9 8.28

4 UniCredit 1 577.9 8.28

6 Rothschild 4 512.0 7.33

7 HSBC 1 500.0 7.16

8 Banco Espirito Santo 1 467.0 6.69



10 Morgan Stanley 2 291.4 4.17

12 China Development Financial

Holding 1 216.3 3.10

13 Huatai Securities 1 202.3 2.90

14 Macquarie 1 136.2 1.95

15 Marathon Capital 2 100.0 1.43

16 National Bank of Canada 1 91.5 1.31

17 Banco Bradesco 1 64.8 0.93

18 Greentech Capital Advisors 2 45.0 0.64

19 Rabobank 1 32.4 0.46

20 Yuanta Financial 1 27.0 0.39

https://www.bnef.com/Organizations/2220https://www.bnef.com/Organizations/12927https://www.bnef.com/Organizations/12927https://www.bnef.com/Organizations/12927https://www.bnef.com/Organizations/85800https://www.bnef.com/Organizations/85800https://www.bnef.com/Organizations/85800https://www.bnef.com/Organizations/85798https://www.bnef.com/Organizations/85798https://www.bnef.com/Organizations/85798https://www.bnef.com/MA/28858https://www.bnef.com/Organisations/846https://www.bnef.com/Organisations/846https://www.bnef.com/MA/29006https://www.bnef.com/MA/29006https://www.bnef.com/MA/29006https://www.bnef.com/MA/29006https://www.bnef.com/MA/29006https://www.bnef.com/Organisations/17136https://www.bnef.com/MA/29094https://www.bnef.com/Organisations/88210https://www.bnef.com/Organisations/88186https://www.bnef.com/Organisations/88186https://www.bnef.com/Organisations/88186https://www.bnef.com/Organisations/88186https://www.bnef.com/Organisations/88186https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/MA/28992https://www.bnef.com/Organisations/86796https://www.bnef.com/Organizations/2025https://www.bnef.com/Organizations/2025https://www.bnef.com/Organizations/2025https://www.bnef.com/Organisations/594https://www.bnef.com/MA/29222https://www.bnef.com/MA/29222https://www.bnef.com/MA/29222https://www.bnef.com/Organisations/80230https://www.bnef.com/Organisations/80230https://www.bnef.com/Organisations/80230https://www.bnef.com/Organisations/80230https://www.bnef.com/Organisations/80230https://www.bnef.com/Organisations/79970https://www.bnef.com/Organisations/79970https://www.bnef.com/Organisations/79970https://www.bnef.com/Organisations/79970https://www.bnef.com/Organisations/79970https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/MA/29416https://www.bnef.com/Organizations/293https://www.bnef.com/Organizations/293https://www.bnef.com/Organizations/293https://www.bnef.com/Organisations/4007https://www.bnef.com/Organisations/4007https://www.bnef.com/Organisations/4007https://www.bnef.com/Organisations/594https://www.bnef.com/Organisations/665https://www.bnef.com/MA/28002https://www.bnef.com/Organisations/15550


M&A AND VC/PE >>

LEGAL ADVISORS

DLA Piper remains in first position in the joint M&A and

VC/PE legal advisors table, with a $1,262.7m credit and a

21.1% table share across four deals. It received credit for

advising ERG on its 80% acquisition of ERG Wind

Investments, a Gibraltar-based company focused on wind

energy ($1,155.7m); and JouleX, an Atlanta-based energy

management software solutions provider, on its sale to Cisco

Systems for ($107.0m). It also advised Qnergy on its

acquisition of Infinia, a Washington state-based developer

and manufacturer of a stirling engine systems, as well as

John Swire & Sons on its acquisition of Argent Energy UK, a

waste-to-energy biodiesel producer.

Clifford Chance too retain second place, with a 10.17% table

share and a credit of $608.7m for advising Energa and PGE

on the acquisition of DONG Energy, a Denmark-based power

generator and related service provider ($318.9m credit); their

acquisition of Iberdrola, a Spain-based renewable energy

project developer ($263.8m); as well as advising Synergo on

itsacquisition of an undisclosed stake in Building Energy, a

Milan-based owner, operator and developer of solar PV

projects ($26m credit).

Simpson Thacher & Bartlett and Gibson Dunn & Crutcher

come joint third, with a $374.3m credit and a table share of

6.25% for advising Power-One on its acquisition by ABB.


1 DLA Piper 4 1,262.7 21.10

2 Clifford Chance 3 608.7 10.17

3 Simpson Thacher & Bartlett 1 374.3 6.25

3 Gibson Dunn & Crutcher 1 374.3 6.25

5 Troutman Sanders 1 295.9 4.94

6 Wilson Sonsini Goodrich & Rosati 5 278.0 4.64

7 Jones Day 3 264.5 4.42

8 Sidley Austin 2 257.8 4.31

9 Cleary Gottlieb Steen & Hamilton 3 249.5 4.17

9 Freshfields Bruckhaus Deringer 1 249.5 4.17

11 Beijing JunZeJun Law Offices 1 202.3 3.38

12 Matheson 1 173.1 2.89

13 Fenwick & West 2 173.0 2.89

14 AZB & Partners 1 151.1 2.52

15 Torys 1 148.0 2.47

15 McMillan 1 148.0 2.47

17 Bracewell & Giuliani 1 130.0 2.17


19 PriceWaterhouseCoopers Legal 1 108.2 1.81

19 Lexcel Partners Attorney-at-Law 1 108.2 1.81

https://www.bnef.com/Organizations/28631https://www.bnef.com/Organizations/28631https://www.bnef.com/Organizations/28631https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/MA/28182https://www.bnef.com/MA/28624https://www.bnef.com/Organisations/5813https://www.bnef.com/Organisations/5813https://www.bnef.com/Organisations/5813https://www.bnef.com/Organisations/120206https://www.bnef.com/MA/29362https://www.bnef.com/Organisations/49410https://www.bnef.com/Organisations/49410https://www.bnef.com/Organisations/49410https://www.bnef.com/Organisations/49410https://www.bnef.com/Organisations/49410https://www.bnef.com/Organisations/49410https://www.bnef.com/Organisations/49410https://www.bnef.com/MA/29062https://www.bnef.com/MA/29062https://www.bnef.com/MA/29062https://www.bnef.com/MA/29062https://www.bnef.com/MA/29062https://www.bnef.com/MA/29062https://www.bnef.com/Organizations/8349https://www.bnef.com/Organizations/8349https://www.bnef.com/Organizations/8349https://www.bnef.com/Organisations/12341https://www.bnef.com/Organisations/26528https://www.bnef.com/MA/29072https://www.bnef.com/MA/29072https://www.bnef.com/MA/29072https://www.bnef.com/MA/29074https://www.bnef.com/Organisations/85922https://www.bnef.com/VCPE/6688https://www.bnef.com/VCPE/6688https://www.bnef.com/VCPE/6688https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/43766https://www.bnef.com/Organizations/43766https://www.bnef.com/Organizations/43766https://www.bnef.com/Organizations/43766https://www.bnef.com/Organizations/43766https://www.bnef.com/Organizations/43766https://www.bnef.com/Organizations/43766https://www.bnef.com/Organisations/4007https://www.bnef.com/Organisations/4007https://www.bnef.com/Organisations/4007https://www.bnef.com/Organisations/594



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PUBLIC MARKETS PUBLIC MARKETS


PUBLIC MARKETS >>

TOP 10 DEALS


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RANK ORGANISATION CLOSE

DATE SECTOR

VALUE

($M)

LEAD MANAGERS

($M CREDIT)

CO-LEAD MANAGERS

($M CREDIT)

LEGAL ADVISORS

($M CREDIT)

1 Mighty River Power 10/05/2013 Geothermal 1,439.4 None disclosed Macquarie (479.8); Goldman Sachs (479.8); Credit Suisse (479.8)

Chapman Tripp (719.7); Bell Gully

(719.7); Sidley Austin (1439.4)

2 Darling International 13/12/2013 Biofuels 874.0 Goldman Sachs (874.0)

JP Morgan Securities (437.0); Bank of

Montreal (437.0)

Cravath Swaine & Moore (874.0);

K&L Gates (874.0)

3 Tesla Motors 22/05/2013 Advanced transportation

660.0 Goldman Sachs

(660.0)

Goldman Sachs (220.0); JP Morgan

Securities (220.0); Morgan Stanley

(220.0)

Simpson Thacher & Bartlett (660.0);

Wilson Sonsini Goodrich & Rosati

(660.0)

4 SunEdison 20/12/2013 Solar 600.0 None disclosed Wells Fargo (150.0); Bank of America (150.0); Goldman Sachs (150.0);

Deutsche Bank (150.0)

None disclosed

5 SunEdison 20/12/2013 Solar 600.0 None disclosed Wells Fargo (150.0); Bank of America (150.0); Goldman Sachs (150.0);

Deutsche Bank (150.0)

None disclosed

6 China Everbright International

11/12/2013 Biomass &

waste

472.5 None disclosed Morgan Stanley Hong Kong 1238

(472.5)

Freshfields Bruckhaus Deringer

(472.5)

7 Renewables Infrastructure

29/07/2013 Wind 461.5 None disclosed Canaccord Genuity (230.8); Leucadia

National (230.8)

Norton Rose Fulbright (461.5);

Hogan Lovells (461.5)

8 First Solar 12/06/2013 Solar 448.4 JP Morgan Securities (448.4)

Citigroup (64.1); Credit Agricole (64.1);

Credit Suisse (64.1); Morgan Stanley

(64.1); Bank of America (64.1);

Goldman Sachs (64.1); HSBC (64.1)

Cravath Swaine & Moore (448.4);

Skadden Arps Slate Meagher &

Flom (448.4)

9 CPFL Energias Renovaveis

19/07/2013 Wind 410.6 None disclosed Banco do Brasil SA (68.4); Grupo BTG

Pactual (68.4); Morgan Stanley (68.4);

Bank of America (68.4); Itau Unibanco

Holding SA (68.4); Banco Bradesco

(68.4)

Davis Polk & Wardwell (205.3);

Pinheiro Neto Advogados (205.3);

Mattos Filho Veiga Filho Marrey Jr e

Quiroga Advogados (205.3);

Simpson Thacher & Bartlett (205.3)

10 Pattern Energy 27/09/2013 Wind 404.8 Bank of Montreal (404.8)

Royal Bank of Canada (134.9); Morgan

Stanley (134.9); Bank of America

(134.9)

Vinson & Elkins (202.4); Latham &

Watkins (202.4); Torys (202.4);

Blake Cassels & Graydon (202.4)


PUBLIC MARKETS >>

LEAD MANAGERS

Goldman Sachs retains the top position for its role

as lead manager for seven deals in 2013 in the

public markets league table. It receives a total credit

of $2,583.1m and a table share of 39.62%. Its

largest credit comes from managing the secondary

placement for Darling International, a Texas-based

provider of recycling, and recovery services for the

US food industry ($874m credit). Other significant

deals include the issuing of Tesla Motors’

convertible bonds ($660m credit) as well as

managing the secondary placement for Tesla

($360.0m credit). Credit was also received for

managing the offer of shares in GCL-Poly Energy, a

Hong Kong-based operator of renewable energy

projects and supplier of PV materials via a

secondary-share placement ($287.6m credit),

managing SolarCity’s secondary placement and the

raising of $125m by Solazyme, a San Francisco-

based company that develops renewable oil and

bio-products, via a convertibles issue.

Royal Bank of Canada jumps from fifth position in

Q3 to second place to end the year with a credit

total of $812.25m and a table share of 12.46%. The

largest credit was received for the Greencoat UK

Wind Fund IPO (UK, $394.2m).

Deutsche Bank drops one position to third place

with a credit of $613.3m and a table share of 9.41%

for three deals. The largest was SunPower’s

convertible issue ($300.0m credit).





4 JP Morgan Securities 1 448.4 6.88

5 Bank of Montreal 1 404.8 6.21



8 Barclays 3 226.0 3.47

9 Canadian Imperial Bank of Commerce 1 214.0 3.28

10 Morgan Stanley 2 142.1 2.18

11 China Development Financial 3 54.7 0.84

12 Standard Chartered 1 49.7 0.76

13 Cowen 3 45.7 0.70

14 LFCM Holdings 1 38.0 0.58

15 Siam Commercial Bank 1 34.5 0.53

15 Finansia Syrus Securities 1 34.5 0.53

15 Capital Nomura Securities 1 34.5 0.53

18 REORIENT Financial Markets 1 34.0 0.52

19 Yuanta Financial Holding 1 25.7 0.39

20 US Bancorp 1 25.0 0.38

https://www.bnef.com/Organizations/293https://www.bnef.com/Organizations/293https://www.bnef.com/Organizations/293https://www.bnef.com/PublicMarkets/8985https://www.bnef.com/PublicMarkets/8985https://www.bnef.com/PublicMarkets/8985https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8246https://www.bnef.com/PublicMarkets/8318https://www.bnef.com/PublicMarkets/8318https://www.bnef.com/PublicMarkets/8318https://www.bnef.com/PublicMarkets/8318https://www.bnef.com/PublicMarkets/8318https://www.bnef.com/PublicMarkets/8320https://www.bnef.com/PublicMarkets/7864https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/Organizations/3548https://www.bnef.com/Organizations/3548https://www.bnef.com/Organizations/3548https://www.bnef.com/PublicMarkets/8518


PUBLIC MARKETS >>

CO-LEAD MANAGERS


1 Goldman Sachs 9 1,458.6 14.59

2 Morgan Stanley 6 1,066.92 10.67




6 JP Morgan Securities 3 692.50 6.93


8 Wells Fargo 4 513.50 5.14

9 Barclays 4 500.45 5.01

10 Macquarie 2 488.77 4.89

11 Bank of Montreal 1 437.00 4.37

12 Leucadia National 2 266.25 2.66

13 Canaccord Genuity 1 230.75 2.31

14 Credit Agricole 3 185.12 1.85

15 BNP Paribas 3 124.03 1.24

16 HSBC 3 118.39 1.18


18 UBS 1 88.45 0.88

19 Banco do Brasil 1 68.43 0.68

20 Banco Bradesco 1 68.43 0.68

Goldman Sachs retains top spot with a 14.59% table

share for acting as co-lead manager on nine deals.

The largest credit was for the Mighty River Power IPO

($479.8m credit). Notable deals include the $220.0m

in credit received for co-managing Tesla Motors’

convertibles issue, as well as for three SunEdison

deals: two convertible issues for which it received

$150.0 each; as well as a secondary-share placement

for $125.05 credit.

Morgan Stanley climbs to second place with a total of

$1,066.92m credit and a table share of 10.67% for six

deals in 2013. The largest share was earned through

the secondary-share placement of the China

Everbright International deal ($472.5m credit). Other

noteworthy deals include shared credit in Tesla

Motors’ convertible issue (as above) as well as

Pattern Energy’s IPO ($134.93m).

Royal Bank of Canada ends the year in third place for

seven deals, with a total credit of $910.3m and a table

share of 9.11%. The largest credit was received for

acting as co-lead manager on TransAlta Renewables’

IPO for which it received $214.0m credit. Other deals

include Greencoat UK Wind’s IPO for $197.1m,

Pattern Energy’s IPO for $134.93m and Infinis

Energy’s IPO for $127.4m credit.

https://www.bnef.com/Organizations/293https://www.bnef.com/Organizations/293https://www.bnef.com/Organizations/293https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/Organizations/8715https://www.bnef.com/PublicMarkets/8620https://www.bnef.com/PublicMarkets/8620https://www.bnef.com/PublicMarkets/8620https://www.bnef.com/PublicMarkets/8620https://www.bnef.com/PublicMarkets/8620https://www.bnef.com/Organizations/41636https://www.bnef.com/Organizations/41636https://www.bnef.com/Organizations/41636https://www.bnef.com/PublicMarkets/8991https://www.bnef.com/PublicMarkets/8991https://www.bnef.com/PublicMarkets/8991https://www.bnef.com/PublicMarkets/8991https://www.bnef.com/PublicMarkets/8991https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8652https://www.bnef.com/PublicMarkets/8652https://www.bnef.com/PublicMarkets/8652https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/Organizations/625https://www.bnef.com/PublicMarkets/8496https://www.bnef.com/PublicMarkets/8496https://www.bnef.com/PublicMarkets/8496https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8608https://www.bnef.com/PublicMarkets/8652https://www.bnef.com/PublicMarkets/8652https://www.bnef.com/PublicMarkets/8652https://www.bnef.com/PublicMarkets/8732https://www.bnef.com/PublicMarkets/8732https://www.bnef.com/PublicMarkets/8732


PUBLIC MARKETS >>

LEGAL ADVISORS


1 Sidley Austin 1 1,439.4 8.92

2 Wilson Sonsini Goodrich & Rosati 4 1,432.0 8.87

3 Simpson Thacher & Bartlett 4 1,416.4 8.78

4 Cravath Swaine & Moore 2 1,322.4 8.19

5 Davis Polk & Wardwell 7 1,039.9 6.44

6 K&L Gates 1 874.0 5.41

7 Skadden Arps Slate Meagher & Flom 4 868.4 5.38

8 Bell Gully 1 719.7 4.46

8 Chapman Tripp 1 719.7 4.46

10 Norton Rose Fulbright 2 532.8 3.30

11 Freshfields Bruckhaus Deringer 2 528.6 3.27

12 Hogan Lovells 1 461.5 2.86


14 Torys 3 452.2 2.80

15 Blake Cassels & Graydon 2 416.4 2.58

16 Ashurst 1 382.2 2.37

17 Kirkland & Ellis 4 302.3 1.87

18 Ropes & Gray 2 300.0 1.86

19 Goodmans 1 243.8 1.51

20 Pinheiro Neto Advogados 1 205.3 1.27

Sidley Austin remains in first position for

advising on New Zealand’s Mighty River Power

IPO in May 2013. Sidley Austin receives a

$1,439.4m credit, with a table share of 8.92%.

Wilson Sonsini Goodrich & Rosati advised on

two additional deals in Q4 2013 to come a close

second in the table, with a total credit of

$1,432.0m and a table share of 8.87% across

four deals. It received $660.0m for advising on

Tesla Motors’ convertibles issue, and $360.0m

for advising on Tesla’s secondary-share

placement, as well as $230.0m for SolarCity’s

convertible issue and $182.0m for the

company’s secondary-share placement.

Simpson Thacher & Bartlett drops to third

position in the table despite advising on the

Infinis Energy IPO in November 2013 ($191.1m

credit). It advised Tesla on the convertibles

issue and secondary-share placement

mentioned above and received a $660.0m and

$360.0m credit respectively, as well as a

$205.3m credit for advising the issuers for

CPFL Energias Renovaveis’ IPO.

https://www.bnef.com/Organizations/16021https://www.bnef.com/Organizations/16021https://www.bnef.com/Organizations/16021https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/PublicMarkets/8178https://www.bnef.com/Organizations/16021https://www.bnef.com/Organizations/16021https://www.bnef.com/Organizations/16021https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/Organizations/4325https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8246https://www.bnef.com/PublicMarkets/8918https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/Organizations/13522https://www.bnef.com/PublicMarkets/8732https://www.bnef.com/PublicMarkets/8732https://www.bnef.com/PublicMarkets/8732https://www.bnef.com/PublicMarkets/8346https://www.bnef.com/PublicMarkets/8222https://www.bnef.com/PublicMarkets/8222https://www.bnef.com/PublicMarkets/8222https://www.bnef.com/PublicMarkets/8222https://www.bnef.com/PublicMarkets/8222https://www.bnef.com/PublicMarkets/8222


GUIDELINES

COVERAGE

We define large hydro assets as being any hydroelectric plant above or equal to 50MW. The tables also cover fossil fuel technologies that are electricity

generating assets of 1MW+ and fuelled by either coal, oil or natural gas.

ACCURACY

Due to the dynamic nature of the BNEF online product, league table rankings may vary between this release and data found on the BNEF website following

the release date. BNEF Clean Energy League Tables represent only transactions that are executed and about which BNEF has been notified.

BNEF does all it can to guarantee the accuracy of deal input data. Organisations are recommended to contact the league table team directly prior to

quarterly publication to ensure that all applicable deals are correctly reflected in the BNEF database.

SUBMISSIONS

Three weeks prior to the quarter/year end, all missing submissions for the quarter/year end must be submitted. Participants should also notify BNEF of all

deals expected to close within the final two weeks of the quarter/year end, and must provide subsequent confirmation of the closing date, prior to the BNEF

League Tables being locked.

Preliminary tables are provided two weeks prior to quarter end for all participants. Any data feedback received following publication of the Q1

2013 CLEAN ENERGY & ENERGY SMART TECHNOLOGIES … · 2014. 1. 15. · financing of the 81MW Aichi...

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Transcript of 2013 CLEAN ENERGY & ENERGY SMART TECHNOLOGIES … · 2014. 1. 15. · financing of the 81MW Aichi...