Latin American Carbon Forum Sourcing Carbon Finance Nowadays Panama, June 25, 5.00 pm

Transcription

1 Latin American Carbon Forum Sourcing Carbon Finance Nowadays Panama, June 25, 5.00 pm Andreas Eggenberg, Grupo ECOS

2 Global New Investment in Sustainable Energy, , $ billions Global Trends in Sustainable Energy Investment 2009 Growth: 25% 29% 73% 54% 59% 5% S/RP, corp RD&D, gov R&D Financial investment 93 Global Trends in Sustainable Energy Investment Asset and company mergers, acquisitions, refinancing, buy-outs etc. 60 Projects Equipment manufacturing/ scale-up Technology development VC Corp RD&D* Gov R&D* PE Public markets new equity Total Reinvested company investment Asset finance S/RP* Total investment M&A /B-O etc. Total transactions S/RP = small/residential projects. New investment volume adjusts for re-invested equity. Total values include estimates for undisclosed deals Source: New Energy Finance S/RP = small/residential projects. Total values include estimates for undisclosed deals. * data based on estimates from various industry sources Source: New Energy Finance

3 Global New Investment in Sustainable Energy, , $ billions Global Trends in Sustainable Energy Investment 2009 New investment volume adjusts for re-invested equity. Total values include estimates for undisclosed deals Source: New Energy Finance, UNEP SEFI

4 New investments by Tecnology 2007 & 08; and new VC/PE investments by technology 2008, $ billions Global Trends in Sustainable Energy Investment 2009 Global Trends in Sustainable Energy Investment 2009 Wind Solar Biofuels Growth: % 49% -9% Geothermal Biomass & w-t-e Other low carbon 1.2 Marine & smallhydro, Biomass & waste-to-energy Marine & small-hydro % -5% Efficiency, 1.5 Solar, 5.5 Geothermal % Efficiency % Wind, 1.8 Other low carbon tech/services % Biofuels, 2.0 New investment volume adjusts for re-invested equity. Total values include estimates for undisclosed deals Source: New Energy Finance, UNEP SEFI Venture Capital/Private Equity new investment excludes PE buy-outs. Total values include estimates for undisclosed deals Source: New Energy Finance, UNEP SEFI

5 VC/PE investments by technology, $ billions Growth: 51% 77% 76% 146% 34% 37% Global Trends in Sustainable Energy Investment 2009 PIPE/OTC 13.5 PE expansion capital VC late stage VC early stage ECOS focus Buy-outs are not included as new investment Total values include estimates for undisclosed deals Source: New Energy Finance

6 Cooperation between investor families Three major investor families in Renewables: Project financing funds, which ultimately own or co-own power plants, and generate returns by the sale of power; Carbon funds, which are interested in the off-take of carbon credits generated by renewable projects, and generate returns by trading those credits PE/VC Funds that invest in project developers or technology deployment, which generate returns either via equipment sales, or by Build, Operate, Maintain fees for renewable power plants or farms, or decentralized power generation (ECOS focus) An interesting approach to new ways in Carbon Finance is a combination of the three, in which a joint approach can be defined, for each partner within his area of expertise. This enhances the credibility of an offer, especially towards first time participants in a CER / VER scheme. ECOS, focusing on the 3rd family, considers itself complementary to the other families.

7 The Ecos Funds at a Glance Private Equity Development (Growth / Expansion) Capital, occasionally Venture Capital. Focus on boutique investments in small and medium sized companies, active in selected Sustainable Development niche segments, mainly in Latin America: Sustainable forestry Cleantech (Renewable energy, Environmental engineering and services) Usually minority shareholdings as active investors, accompanying portfolio companies at Board levels (corporate expertise, door opening capacities for portfolio companies). Committed to a triple-bottom-line approach and business ethics, along with the aspiration of above market performance in economic returns of the Fund and its portfolio companies. Functional and integrative governance, rigorous investment decision making process, meticulous dealflow and network management. 7

8 Fund Characteristics Sectors of Interest ECOForest: Sustainable Foresty teak, other specialty woods, forestry management services ECOEnergy: Renewable Energy power, biofuels (from non edible resources) & energy efficiency ECOGeo: Environmental and residual services, consulting, engineering, rehabilitation of affected areas & bio energy cluster equipment and services ECOInvest: Others: CO2 Trade, green building, eco tourism, fair trade, water, inclusive business Share Activity Usually minority sought, if other investors / shareholders share the same values and strategic view. Minority shareholder protection rights (tag/drag alongs, put options, etc) Active with at least one Board membership Private Equity Investment Funds Investment Size Usually $500K to $4Mio. $US, however exceptions can be made. Smallest investment: $200K, Largest: $25Mio. Given that Ecos accepts a minority stake and depending on the leverage degree, target size may vary accordingly Geography Swiss origin with a Focus on Latin American countries selective with politically complicated nations Bridge between U.S./European investors and Latin American opportunities (generation long presence in Latam) Open to other parts of the world, especially in EcoEnergy Strategic View: Market opener for portfolio companies, synergy creation 8

9 Fund Positioning 9

10 Operational Structure 10

11 Investment Portfolio * * Mandate 11

12 Functional and integrative governance; and rigurous investment decision process Steps 9 to 12 take +/ 3 Months 12

13 ECOSNet: Deal flow and Network Management 13

14 Communication: Ecos Net Dealflow analysis Lead Origination

15 Communication: ECOS News 15

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