3rd Annual GIFF Investment Financing Forum

1. 3RD OECD
GREEN INVESTMENT
FINANCING FORUM
Financing green innovation and
commercialisation
Ali Izadi
14 October 2015

2. 1
Note: Total values include estimates for undisclosed deals. AF = asset finance,
SDC = small distributed capacity.
Source: Bloomberg New Energy Finance
2015 CLEAN ENERGY INVESTMENT TYPES & FLOWS
($BN)
Technology
development
Equipment
manufacturing/ scale-up
Projects
Asset and company
mergers,
acquisitions,
refinancing, buy-outs
etc.
This chart shows the full range of investment in clean
energy by asset class:
● It runs from the early ‘tech’ stage corporate
finance fund raisings and R&D to the left,
● through to the roll-out phase of new build asset
finance (AF) in the middle
● finishing with total secondary market, non-new
investment including corporate M&A, PE
buyouts, investor exits and asset refinancing and
acquisitions.
+4
+15
+13 +2
+14 48 -6
+199
+20
+67 329
+97 425
VC CorpRD&D GovR&D PE Publicmarkets
newequity
Totalcompany
investment
Re-invested Renewable
energyAF
Digitalenergy&
storageAF
SDC Total
investment
M&A/buy-outs
etc.
Total
transactions

3. 2
CLEAN ENERGY INVESTMENT BY ASSET CLASS
2004 – 2015 ($BN)
Asset finance Public markets
Venture capital and private equity Small distributed capacity
Source: Bloomberg New Energy Finance
$32
$53
$85
$110
$136
$120
$153
$181
$163$158
$189
$228
2004 05 06 07 08 09 10 11 12 13 14 15
$1 $5 $10
$25
$12 $15 $13 $11 $5 $12 $19 $15
2004 05 06 07 08 09 10 11 12 13 14 15
$8 $10 $9 $14 $22
$33
$62
$75 $73
$50 $60 $58
2004 05 06 07 08 09 10 11 12 13 14 15
$1 $2 $6 $8 $12 $7 $11 $8 $6 $4 $5 $6
2004 05 06 07 08 09 10 11 12 13 14 15

4. 3
Note: Total values include estimates for undisclosed deals. Source: Bloomberg New Energy Finance
VC/PE NEW INVESTMENT IN CLEAN ENERGY
Q1 2004-Q2 2016 ($BN)

5. 4
SELECTED UTILITY’S SHARE OF CLEAN ENERGY
TECHNOLOGY VC/PE, 2011-16 ($BN)
Source: Bloomberg New Energy Finance Note: 2016 includes deals through 30 June 2016 only (H1 2016). Utility CVC investments for renewables/EST segments
only; excludes ‘other’ sectors. ‘EST’ includes digital energy, storage, fuel cells, advanced transport and efficiency/built environment. Utility CVC value is equal to the
full value raised in a funding round which had utility CVC backing. The utility data covers 29 North American and European utilities.
ALL CLEAN ENERGY TECHNOLOGY AND
ENERGY SMART TECHNOLOGY
ENERGY SMART TECHNOLOGY ONLY
8.2
6.4
4.5
5.5
6.6
6.1
6%
2%
8% 7%
6%
7%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
1
2
3
4
5
6
7
8
9
10
2011 2012 2013 2014 2015 2016
Expected deals (annualised) All other VC/PE
Utility CVC Utility CVC share
3.4
2.2 2.2 2.3
2.9 2.86%
1%
12%
4%
12%
13%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
1
2
3
4
5
6
7
8
9
10
2011 2012 2013 2014 2015 2016
Expected deals (annualised) All VC/PE into EST
Utility CVC in EST Utility CVC share in EST

6. 5
UTILITY CVC INVESTMENT BY FUNDING ROUND
SINCE 2012 ($M)
RENEWABLES
ENERGY SMART
TECHNOLOGIES
OTHER
Note: ‘Energy smart technologies’ includes digital energy, storage, fuel cells, advanced transport and
efficiency/built environment. Covers deals from 1 January 2002 – 23 September 2016 with publically
disclosed values only. Amount is equal to the full value raised in a funding round. The utility data covers
29 North American and European utilities.
Source: Bloomberg New Energy Finance, company
publications, Bloomberg LP via {MA<GO>}
$0
$213
$366
$1
Seed
VCearly
stage
VClate
stage
Other/
undisclosed
$0
$523
$409
$1
Seed
VCearly
stage
VClate
stage
Other/
undisclosed
$10
$78 $71
$45
Seed
VCearly
stage
VClate
stage
Other/
undisclosed

7. 6
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