KPMG 's annual survey of the market of mergers and acquisitions (M. The presented results of the survey made on the basis of the survey of about 200 directors of the world's energy companies. Key findings of the study:.
- Projects in alternative energy sources are economically viable. This convinced 78% of respondents. (. !. ).
- Are expected to increase government subsidies to alternative energy. This convinced 63% of respondents (compared with 37% last year).
- Wind and. solar. remain the main types of alternative energy. Over 60 % of respondents believe that the consumption of these types of energy will grow by more than 5% in 2009.
- Major investments in alternative energy will be concentrated in the U.S. ( 42% ), India ( 24% ), China ( 22%) and Canada ( 21%).
- A significant breakthrough in the development of alternative energy can occur at the Copenhagen summit, which may become the successor to the Kyoto Protocol. With that 44% of respondents agree.
In a previous review of policies largest oil companies in respect of alternative energy, prepared by KPMG and published in October 2008. , The main motives for diversification into alternative energy sources have been identified climate change and rising energy consumption in the world in the period up to 2030. And the inevitable decline of hydrocarbon reserves in the long term. Interviewed by the oil companies agreed on the need for environmentally responsible approach to its operations in accordance with the requirements of local legislation and public opinion in the field of environmental protection.
The main interest of oil companies has been shown to biofuels and wind and solar energy. For most oil companies wanting to offer the market an environmentally ... A number of oil companies considered the highest priority for themselves alternative forms of energy wind and solar energy.
Other forms of alternative energy were much less interest for oil companies. Combined heat and power used exclusively for the purpose of optimizing the costs and does not go beyond the production processes of companies. Projects in the field of hydrogen energy does not go beyond the research findings. Projects in the field of hydro-and geothermal energy were not even interested in most of the oil companies.
Since the release of the previous review of KPMG has radically changed the world economic situation, which negatively affected the prospects for the development of alternative energy. The industry was badly affected by the global economic crisis. The fall of the index of NEX companies alternative energy segment was 65 % from January 2008. to March 2009. , Although this decrease relates primarily to Q4 2008.
The main negative factors affecting the alternative energy are a significant reduction in the price of traditional energy resources, reduction of credit and increase their value. As a result of increased break-even threshold for projects in alternative energy, and many projects become unprofitable. An additional negative factor is the uncertainty associated with the prospects for state support of industry.
Respondents expect to reduce the number and size of transactions in the market of alternative energy. Apparently, the time of multibillion-dollar deals come to an end, at least in the foreseeable future.
The global economic crisis has significantly changed the structure of transactions: the main buyers are becoming a larger segment of the company's utilities and energy, which are in a better position for acquisitions. Weak financial position and lack of long-term relationships with lenders reduce the chances of small companies on mergers and acquisitions.
Respondents also predict a fall in activity in the market of mergers and acquisitions of hedge funds, fund infrastructure investments and private equity funds (private equity). Research shows that while small businesses is difficult to provide security for third-party financing, major energy companies that demonstrate an acceptable level of debt, have more opportunities for acquisitions in the market.
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For strategic Russian investors with available funds, the crisis offers new opportunities to acquire valuable overseas assets, technology and knowledge at an attractive price.
In the medium to long term development of alternative energy in Russia will depend on the state policy in this area of environmental legislation and the price of ...
according to the materials. MIS ...
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