8 minute read
Conclusion
Overall, we foresee a very active M&A market in renewables for years to come especially as the level of renewable assets to be built will increase substantially as the transition to a low carbon economy accelerates. It should not be assumed, however, that the current trend of ever-decreasing cost of capital will continue as any upward movement in the global interest rate environment would adversely impact this. Also, notwithstanding the competitive environment for assets, investors do need to recognize that there are some risks associated with renewable assets which do need to be evaluated in the context of any acquisition. Otherwise, the industry will suffer if investors ever start to lose confidence in the asset class. We have seen this happen in the past in some countries where unanticipated legislative changes have threatened the predictability of future cash flows. Overall, though, we expect a thriving M&A market in 2018 and beyond.
About KPMG’s Energy and Natural Resource practice
Advertisement
Businesses today are under more pressure than ever to deliver better and more sustainable results for stakeholders. At KPMG, our professionals think like an investor, looking at how opportunities to buy, sell, partner, fund or fix a company can help preserve and enhance value.
Today’s deals do not happen in a vacuum. From your business to acquisition strategy, your plans for divestments or for raising funds, or even your need to restructure, every decision must be made in the light of your entire business, your sector and the global economy.
Our teams of specialists across member firms combine a global mindset and local experience with deep sector knowledge and analytic tools to help you navigate a complex, fragmented process. From helping to plan and implement strategic change to measurably increasing portfolio value, our teams focus on delivering tangible results. The kind of results that let you clearly see what you gained from the deal at hand, and what you want to bring to the next deal down the road.
In relation to renewable energy, we are extremely committed to doing our part in making a low carbon future a reality. We are working with all participants across the renewable spectrum including developers, investors, governments and utilities.
A key part of our work is to help our clients design and implement innovative solutions to the many challenges and opportunities that this market sector brings. Also, we are actively involved with policy makers across the world in helping them to create the market environment necessary to action these objectives.
About Mergermarket
Mergermarket is an unparalleled, independent mergers and acquisitions (M&A) proprietary intelligence tool. Unlike any other service of its kind, Mergermarket provides a complete overview of the M&A market by offering both a forward-looking intelligence database and a historical deals database, achieving real revenues for Mergermarket clients.
For more information, please contact: Simon Elliot Publisher, Acuris Studios T: +44 20 3741 1060
Charles Abbey Partner, Deal Advisory T: +33 6 28 56 39 75 KPMG in France E: cabbey@kpmg.fr Charles focuses on the energy and infrastructure sectors and has been advising clients in the clean energy and renewable sectors for more than 15 years, about their financial due diligence in the context of financing, acquisition, disposal, refinancing, etc. In France Charles has been involved in transactions across the spectrum of technologies, onshore and offshore wind, solar, biomass and cleantech (smart grid, demand management, aggregation etc.). Charles is part of the Paris-based Francophone Africa Hub and advises clients investing in Africa.
Henry Berling Managing Director T: +1 804 780 1905 KPMG in the US E: hberling@kpmg.com Henry joined KPMG in August 2015 as a managing director in the Corporate Finance practice. Prior to KPMG, Henry worked with a middle-market investment banking firm focused on the energy sector and was instrumental in building the firm’s energy investment banking effort, an advisory practice focused on developers of renewable and distributed energy projects, and providers of products and services to the oil and gas sector. Henry previously worked for KPMG as a supervising senior tax consultant in the financial services area in Richmond, Virginia.
Valérie Besson Partner, Head of Energy and Utilities T: +33 1 5568 6199 KPMG in France E: valeriebesson@kpmg.fr Valérie is leading the energy and utilities sector within KPMG in France. She has been advising our clients in this sector for more than 10 years. Her primary focus is the audit of large energy and utilities companies. Besides audit, Valerie has advised her clients in areas such as financial due diligence, GAAP conversions, carve-outs, IPOs and internal control reviews. Currently, Valerie specializes in French listed clients.
Dmitry Danilovich Director, Head of Clean Energy T: +61 3 9288 5096 KPMG Australia E: ddanilovich@kpmg.com.au Dmitry has over 20 years of experience in the Australian energy sector having advised developers of energy projects and investors on feasibility studies, project development and financing, acquisitions and divestments. Dmitry has extensive experience in energy procurement and has advised electricity retailers and large energy users on Power Purchase Agreements for electricity and Large-scale Generation Certificates. These included power supply to mining and resource operations, manufacturing facilities, port and rail, desalination plant, public transport, hospitals, and office buildings. He is a Fellow of the Australian Institute of Energy.
Mike Hayes Global Leader of Renewables T: +353 1410 1656 KPMG in Ireland E: michael.hayes@kpmg.ie Mike advises clients in the renewable energy, infrastructure and asset management sectors (principally alternative investments). Mike works with global institutional investor’s independent utilities and investment funds across the full spectrum of renewable assets. He has advised on transactions in over 30 jurisdictions globally. He is involved in helping to develop policy in the renewable energy industry at a national and at an EU level. Also a key area of focus for Mike is working with global corporations who wish to transition to low carbon solutions particularly for their own energy needs. Mike has recently become Global Leader of Renewables at KPMG in Ireland.
Éric Jacquet Partner, Head of Renewables — Audit T: +33 1 5568 7521 KPMG in France E: ejacquet@kpmg.fr Eric is the signing partner of French listed companies in energy and aviation. Most of the time, he travels on a regular basis in Africa, Asia and Eastern Europe to assist his clients. During a 2 year experience with Deal Advisory, Eric performed several purchase due diligence and conducted IPO in the Energy sector. As the Global Lead Partner of significant renewable energy developers and producers located in France and abroad, Eric has gained a deep knowledge and vision of the renewable market in France, South America and Eastern Europe.
Wilfrid Lauriano do Rego Partner, Deal Advisory T: +33 1 5568 6872 KPMG in France E: wlaurianodorego@kpmg.fr Wilfrid focuses on the energy and infrastructure sectors. With 27 years’ experience, Wilfrid has been fully dedicated to the Transaction Services practice since 1998, working extensively on cross-border Energy engagements and is the global lead partner for several major priority accounts in the energy and telecommunications sector.
Annette Schmitt Partner, Deal Advisory T: +49 69 9587-1467 KPMG in Germany E: aschmitt@kpmg.com Annette’s focus is on M&A transactions in the energy and renewables sector. With more than 20 years' experience, she is advising utility clients as well as inbound investors on investments across the energy sector value chain, with a specific focus on offshore and onshore wind. Annette leads the energy M&A sector team in KPMG in Germany.
Adrian Scholtz Partner, Head of Renewables T: +44 (0) 20 73114230 KPMG in the UK E: adrian.scholtz@kpmg.co.uk Focusing on the renewables and low carbon sector for 12 years, Adrian advises major utilities, new entrants, financial institutions and independent developers across the spectrum of technologies and business activities (development, construction, asset value optimization and asset management). Adrian maintains a high profile across the European renewables sector, attending and speaking at a range of events and preparing analysis materials for key clients.
Oscar Silva Partner, Global Strategy Group T: +01 800 292 5764 KPMG in Mexico E: osilva@kpmg.com.mx Oscar has over 15 years of professional experience, of which he has dedicated 10 exclusively to advising investors in their establishment process in Mexico and other countries, in projects in sectors such as automotive, pharmaceutical, telecommunications, IT, chemical, and oil and gas, among others. Oscar focuses on M&A strategy projects, market entry projects, market and macroeconomic analysis, and commercial due diligence for financial and strategic buyers. He has participated in international projects with teams from the United States, Latin America, Asia and Europe.
Ted Surette Partner, Industry Leader, Energy & Natural Resources T: +61 2 9335 8720 KPMG Australia E: tsurette@kpmg.com.au In his role as Industry Leader, Energy & Natural Resources, Ted is sought after for his skilled adaptation of knowledge from one sector to help find solutions to complex challenges in another, technology acumen and collaborative working style. Bringing corporate sector operation processes to the government-led reforms to the power and utilities sector is one example of how Ted strives to add value and learning to every project he’s involved with. Understanding the client’s needs and knowledge gaps, as well as their end goals, shapes his approach to building a project team. It also guides his work when assisting other areas of KPMG involved in a client’s project.
KPMG Global Energy Institute
Access valuable insights
Connect with us
Launched in 2007, the KPMG Global Energy Institute (GEI) is a worldwide knowledge-sharing forum on current issues and emerging industry trends. The GEI interacts with its over 38,000 members through multiple media channels including audio and video webcasts, publications and white papers, events, and newsletters.
As part of the KPMG GEI, you will be able to access valuable insights covering critical business topics and industry issues.
kpmg.com/energy kpmg.com/socialmedia
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
© 2018 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
