Investment in UK renewable energy rose to £6.6bn in 2016 up from £3.1bn the previous year, a rise of 112%, according to a new report.
The report – ‘Renewable Energy Finance’ – was compiled by law firm TLT and industry analysts Clean Energy Pipeline and found offshore wind represented the bulk of the investment value.
Offshore wind merger and acquisitions (M&A) activity last year stood at £3.4bn, up from £384m in 2015, the report said.
M&A in onshore wind was also up, reaching £1.2bn in 2016, from £609m the previous year.
The number of transacted deals recorded also increased to 30 in 2016 from 23 in 2015.
TLT head of energy and renewables Maria Connolly said: “An active secondary M&A market boosted interest in onshore wind as large scale operational sites reached the end of their four to five year investment cycle.
“With a number of sites that were expected to come to market in 2016 delayed and a high first quarter figure for onshore wind M&A activity at £689m, we expect M&A activity to remain high in 2017.”
Image: Humber Gateway offshore wind farm (Eon)
