Renewable Energy Investment Banks
I have been looking through past posts and there doesn't seem to be a recent thread dedicated to renewable energy investment banking. I'm curious if anyone has insight on banks dedicated solely to renewable energy/clean tech and the primary players in this area/where the bulk of positions tend to be located? I know there are groups that cover renewables within broader power groups at larger banks, but I'm curious about the boutique banks. Also curious as to what the typical exit opportunities tend to be from these places. Any info is appreciated!
Check out Greentech Capital Advisors (acquired by Nomura this year). This seems to be what you are looking for: https://www.greentechcapital.com/
Edit: Just found a topic related to them: https://www.wallstreetoasis.com/forums/opinion-on-greentech-capital-adv…
Piper has a sizable alternatives practice
http://www.pipersandler.com/2col.aspx?id=1059
That group is gone now, FYI. Sure, there's still an Ag / Clean Tech / Renewables practice and there are bankers targeting that space, but it's not a standalone team anymore.
Greentech is the only bank / team that I'm aware of fully dedicated to renewables nowadays.
Edit: I can see how that article is confusing - looks like Piper just did a full find and replace for Jaffray w/ Sandler for everything on their website, as that link is for a story from 2008.
Everything dried up? Thought it was a decent sized group at one point
Marathon Capital also seems to focus on this industry.
Any idea on how comp at these firms vary?
like Project Finance (finance / lend to wind farms, etc.)? can easily give insight there. but the space overall isn’t my wheelhouse
Green Giraffe is a fairly large name within the renewable space on the advisory side, otherwise I think you have to look at the project finance arms of larger banks.
London based Renewable Energy PE Analyst here... I get a lot of pitch books landing on my desk from the likes of ING, Green Giraffe, Santander and Macquarie. Macquarie are the best when it comes to general infrastructure, but GG are a better pure renewable energy player.
On the Project Finance lending side, big players are mostly Japanese & European banks, think the likes of Nord LB, SMBC, MUFG, Santander, BNP etc.
There's like a dozen ESG SPACs on the market right now. Why not check check the S-1s?
Some dedicated boutiques worth looking into if you have an interest in the sector would be:
- Nomura Greentech
- Marathon Capital
- CohnReznick Capital
- Rubicon Capital Advisors
Green Giraffe
I know for a fact Wells Fargo has a practice
Any investment banking coverage groups that cover renewable companies?
I've spent some years specialized in the renewable energy and broader infrastructure banking and PE sectors. Most investment banks cover the sector, though some are far more active than others. Many large banks, such as JPM, Citi, BAML, RBC, and Credit Suisse are very active in the sector in both their M&A, capital markets activity, and tax equity deployment (a very important commercial bank product in solar and wind energy finance). Like a few commenters have stated above, there are some M&A focused advisory groups / boutiques that specialize in the sector.
Feel free to PM if you would like some further guidance on the space.
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