The Facts Renewable Energy Infrastructure

alternative assets. intelligent data.

Renewable Energy Infrastructure

We take a detailed look at the renewable energy infrastructure industry, including fundraising, deals and investors. To
arrange a demonstration of Preqins Infrastructure Online, please visit: www.preqin.com/infrastructure

14% 58% 64%

Proportion of aggregate renewable Proportion of renewable energy Proportion of renewable energy
energy infrastructure deal value since infrastructure deals completed in 2016 YTD infrastructure deal value in 2016 YTD
2011 accounted for by UK assets. for less than $100mn, up from 45% in 2015. accounted for by greenfield assets.

Fig. 1: Annual Renewable Energy-Focused Unlisted Fig. 2: Renewable Energy-Focused Unlisted Infrastructure
Infrastructure Fundraising, 2011 - 2016 YTD Fundraising by Primary Geographic Focus, 2011- 2016
(As at 24 August 2016) YTD (As at 24 August 2016)

20 19 35
32
18
30
16 15
14 13 25 No. of Funds
12 Closed
10 20 18
10
8
8 15 Aggregate
6 11 Capital
3.9 4 10 8 Raised ($bn)
4 7.0
2.4 2.4
2 1.2 1.6 1.5 4.4
5
0 0.8 0.8
2011 2012 2013 2014 2015 2016 YTD 0
North Europe Asia Rest of World
Year of Final Close
America
No. of Funds Closed Aggregate Capital Raised ($bn)
Primary Geographic Focus
Source: Preqin Infrastructure Online Source: Preqin Infrastructure Online

Fig. 3: Five Largest Primarily Renewable Energy-Focused Unlisted Infrastructure Funds Closed, 2015-2016 YTD
(As at 24 August 2016)

Final Close Final Close

Fund Firm Location Geographic Focus
Size (mn) Date
BlackRock Renewable Income EU North America,
BlackRock New York, US 650 EUR Aug-16
Fund West Europe
Guangdong Oriental
Guangdong Renewable Energy Guangdong,
Millennium Renewable Energy 3,080 CNY China Sep-15
Industry Fund China
Industry Fund Management
EUROFIDEME III Mirova Paris, France 350 EUR Europe Jun-16
NTR Wind 1 Fund NTR Group Dublin, Ireland 250 EUR UK, Ireland Feb-16
Enhanced Sustainable Power Fund Munich,
KGAL Real Investments 247 EUR Global Dec-15
3 Germany
Source: Preqin Infrastructure Online
Fig. 4: Five Largest Primarily Renewable Energy-Focused Unlisted Infrastructure Funds Currently in Market
(As at 24 August 2016)

Fund Firm Location Target Size (mn) Geographic Focus

Enhanced Sustainable Power Fund 4 KGAL Real Investments Munich, Germany 500 EUR Europe
Impax New Energy Investors III Impax Asset Management London, UK 500 EUR Europe
Aviva Investors PiP Solar PV Fund Aviva Investors London, UK 250 GBP UK
Aquila Renewables Fund III Aquila Capital Hamburg, Germany 300 EUR Europe
Renewable Energy Infrastructure Fund II Goodyields Capital Munich, Germany 300 EUR West Europe, Nordic
Source: Preqin Infrastructure Online

Page 1 of 2 2016 Preqin Ltd. / www.preqin.com

The Facts Renewable Energy Infrastructure
alternative assets. intelligent data.

Fig. 5: Number and Aggregate Value of Renewable

Energy Infrastructure Deals Completed Globally, Fig. 6: Completed Renewable Energy Infrastructure
2011 - 2016 YTD (As at 24 August 2016) Deals by Industry, 2011 - 2016 YTD (As at 24 August 2016)

600 200 100%

1% 3% 9%
180 4% Diversified
90% 2%

Aggregate Deal Value ($bn)

500 9% 3% Renewable Energy
160
80%
140 17% Geothermal Power
400

Proportion of Total
No. of Deals

70%
120
39% Biomass/Biofuel
300 100 60%
23% Facility
80 50%
200 Hydropower
60
40%
40
100 30%
20 Solar Power
43% 46%
0 0 20%
2011 2012 2013 2014 2015 2016 YTD 10% Wind Power

No. of Deals Reported Deal Value ($bn) 0%

Estimated Deal Value ($bn) No. of Deals Aggregate Deal Value

Source: Preqin Infrastructure Online Source: Preqin Infrastructure Online

Fig. 7: 10 Largest Renewable Energy Infrastructure Deals Completed in 2016 YTD (As at 24 August 2016)

Project Deal Size Deal

Asset Location Industry Investor(s) Stake (%)
Stage (mn) Date
Diga di Rogun Dam Project Tajikistan Hydropower Greenfield Impregilo 3,900 USD 100 Jul-16
Koysha Dam Project Ethiopia Hydropower Greenfield Impregilo 2,500 EUR 100 May-16
Baltic Srodkowy III Offshore
Poland Wind Power Greenfield Kulczyk Investments 2,576 USD - Aug-16
Wind Farm
Brookfield Renewable
Secondary
Isagen Colombia Hydropower Energy Partners, 2,200 USD 57.6 Jan-16
Stage
Unidentified Investor/s
ADEME, Deme Group,
General Electric, InfraRed
Merkur Wind Project Germany Wind Power Greenfield 1,600 EUR 100 Aug-16
Capital Partners, Partners
Group
Geothermal
Khulna Power Plant Bangladesh Greenfield Bharat Heavy Electricals 1,600 USD - Feb-16
Power
Welspun Renewables Renewable Secondary
India IDFC Alternatives 1,500 USD - Feb-16
Energy Energy Stage
1140MW Welspun Wind and Renewable Secondary
India Tata Power 1,380 USD 100 Apr-16
Solar Assets Energy Stage
Welspun Renewables Renewable Secondary
India Tata Power 92,490 INR - Jun-16
Energy Energy Stage
385MW Arkona-Offshore
Germany Wind Power Greenfield E.ON, Statoil 1,200 EUR 100 Apr-16
Wind Farm
Source: Preqin Infrastructure Online

Fig. 8: Sample Institutional Investors Seeking Renewable Energy Infrastructure Opportunities in the Next 12 Months

Investor Type Location Investment Plans for the Next 12 Months

Daido Life Insurance
Private Sector Pension
DSM Pension Services
St. Lawrence University
Endowment
Targeting renewable energy-focused unlisted infrastructure
Insurance Company Tokyo, Japan funds in developed markets, such as Europe and North
America.
Will invest 100mn across two or three unlisted infrastructure
Heerlen, Netherlands funds, targeting renewable energy opportunities in OECD
Fund
countries.
Looking to invest in infrastructure in the next 12 months,
Endowment Plan New York, US
with a preference for energy and renewable resources.
Source: Preqin Infrastructure Online

Page 2 of 2 2016 Preqin Ltd. / www.preqin.com