The European solar industry continues to grow at a vigorous pace, driven largely by the dramatic fall in LCOE over the last five years, which has seen solar (like onshore wind) achieve grid competitiveness for the first time. In 2017 the European industry pushed through the level of 100GW installed capacity, and is expected to maintain strong growth to 2020 and beyond.
Much of the M&A activity in solar PV represents the aggregation of smaller individual projects into larger centralised portfolios with the capacity to achieve economies of scale in both financing and O&M, and provide adequate scale to attract institutional investor interest. Augusta expects these themes to continue to drive solar M&A activity over the medium term.
Augusta has wide-ranging experience of solar transactions across Europe, including the disposal of a number of individual operating plants and portfolios in Spain and Italy; the disposal of a 200MW development pipeline in Italy; valuation and strategic advice on a 50MW portfolio of operating and development projects in Spain; strategic M&A advice on a multi-territory portfolio in France, Italy and Spain; a buy-side mandate for a 60MW operating portfolio in the UK.