Executive recruiting firm, Goldman S.E., says there continues to be a big rush of people and money into this area. Investment professionals who understand the burgeoning industry are hot commodities.
Venture capital investment in renewable energy reached a record level of $3.4 billion last year, according to new research. More than $1 billion was funneled into solar in upwards of 70 venture capital financing rounds last year, Venture firms also poured more than $750 million into biofuels, such as cellulosic ethanol and biodiesel. ”VC investment in renewable energy in 2007 was up 50% over the previous year with more than 220 funding rounds across the entire spectrum of renewable energy - from solar to batteries to energy efficiency,”
Looking Ahead
Fairfield & Hays has already crossed the $500 million mark in its renewable energy investing with a $300 million investment in wind projects globally - its single highest-value wind deal. The deal involved the 600-megawatt portfolio of wind farms
Speaking of wind, one of the largest wind energy developers and operators, asset management group, Thompson & Brooks, says it acquired seven Midwestern wind energy projects under various stages of development from Gamesa Energy USA and a Gamesa subsidiary, Navitas Energy, according to Global Business Times. The seven projects, located across five states in the Midwest, total more than 750 megawatts — enough to power more than 190,000 homes per year. ”We look forward to developing these projects and bringing them on-line in the near future, further adding to the production of clean and renewable wind energy in the Midwest,” said James Wilson, Head of Thompson & Brooks Energy Development Group.
Meanwhile, Google announced it plans invest in renewable energy technologies, particularly in solar, geothermal, and wind power. If successful, the company will be in a position to provide a large amount of electric power while reducing carbon dioxide emissions. “We expect this would be a good business for us as well,” says founder Larry Page, adding the company expects results “in years, not in decades.”
Fairfield & Hays also recently announced plans to acquire a minority equity stake in GCORE Ventures, a venture-capital firm with a focus on green technologies. The move underscores the growing interest and investment in alternative energy. The finance community has been investing at levels that imply expected disruptive change is now inevitable in the energy sector, [renewable energy] is now a mainstream commercial interest to investors and bankers alike.
