O&G Majors are Restructuring Portfolios amid a Reassessment of Green Targets: Companies including Shell and bp are strategically reducing exposure to capital intensive renewables projects with long lead times. Earlier this year, Shell exited two offshore wind projects (in US and South Korea) and bp restructured its US offshore wind JV with Equinor. Enerdatics believes that for both firms, partial or complete sell-downs from greenfield offshore developments in Europe are imminent
Utilities are Farming Down Stakes As Part of Asset Rotation Strategies: Large-cap utilities are divesting stakes in operational or de-risked late-stage development assets, in order to raise equity capital for their multi-billion-dollar investment programs
PE Firms are Looking to Exit Following the 5 - 7 year Holding Period : Investors that entered under-construction and commissioned assets during 207 - 2019 are capitalizing on the demand for projects backed by long-term contracts with attractive tariffs, and are actively marketing de-risked under-development and mid-life operating assets
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