According to a study by Abra Invest, after years in which venture capital investments in the energy sector in Spain were scarce, activity is picking up again. In 2013, a total of 22 operations were carried out, 60% more than in 2012, and it seems that 2014 will continue this trend.
Venture capital investment in the energy sector is on the rise
Energy-focused venture capital funds
Among the venture capital funds that have invested in Energy, we find a wide range of investors: foreign and domestic investors, as well as public and private investors. Foreign investors include HG Capital, which has made six investments in Spain in recent years. The last operation was carried out in 2013 with the aim of increasing its presence in Hidrodata to 75%. Hydrodata is a Catalan company specialising in the management of 19 mini-hydro plants in the Pyrenees, formerly known as Eissl. HG Capital had already bought 29.25% of Hydrodata in 2012 for 14M.
Among the public investors, the most important is the CDTIwhich in 2013 alone made six investments in the sector worth between 0.5 and 2 million euros. Such as the one made in Smalle Technologies The project, which investigates new forms and sources of clean, renewable energy capable of meeting present needs without compromising the resources of future generations, worth 180,000 through Neotec.
Transaction highlights 2014: corporate investors
Corporate investors are also playing a leading role in the sector. As recently as October Kkr bought a third of the capital of Acciona Energy International to Acciona Energy for €397M. In addition The Irishwoman Electricity Supply Board (ESB) and the Japanese Osaka Gas UK Ltd have completed the sale of Bizkaia Energia SL (BESL) located in Amorebieta a LLC, a subsidiary of US energy firm ArcLight Capital Partners 180M.
Spanish companies have also invested abroad such as Iberdrola which, through Perseus, has entered the capital of the American company QBotix which develops robotic technology for renewable generation facilities. In addition to IberdrolaIn a $12 million investment round, the German company E.ONand the former investors of QBotix, los fondos de venture capital estadounidenses New Enterprise Associates, Firelake Capital Management andDraper Nexus.
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Investment in alternative energy startups has increased in recent years, with examples such as Braemar Energy Ventures and Conoco Phillips. There is also interest in Spain, with companies such as Deutecno receiving funding. Read the full article for more details.