1. VB/Research Ltd. © 2010 All rights reserved
Global Clean Energy Review
3Q10 Press pack
VB/Research Ltd. © 2010 All rights reserved

2. Contacts
For any questions regarding the information contained herewith or request additional data / information, please contact:
Douglas Lloyd, CEO Clean Energy pipeline
+44 (0)
London
Rashmi Nelson
New York
Note: This material is protected by UK and international copyright. You may reproduce this material citing “Clean Energy pipeline” as a source. Clean Energy pipeline is a division of VB/Research Ltd.

3. Global Venture Capital & Private Equity Investment 1Q09 – 3Q10 ($ bn)
Source: Clean Energy pipeline

4. Top 10 Venture Capital Early-stage Transactions 3Q10
Company
Country
Amount ($million)
Sector
KiOR Inc.
USA
110.0
Biofuels
Trilliant Inc.
106.0
Energy Efficiency
eHi Car Rental Co. Ltd.
China
70.0
Green Transportation
CT&T United
South Korea
60.0
Smooth-Stone Inc.
48.0
Nexant Inc.
43.0
32.5
Geothermal Plant (35MW) - Neal Hot Springs
23.8
Other Renewables & Clean Energy (Geothermal)
NuvoSun Inc.
23.2
Solar
EcoMotors International
23.0
Source: Clean Energy pipeline

5. Top 10 Venture Capital Late-stage Transactions 3Q10
Company
Country
Amount ($million)
Sector
Solaria Corp.
USA
65.0
Solar
Solazyme Inc.
52.0
Biofuels
Mascoma Corporation
50.0
Bhilwara Energy Limited
India
Other Renewables & Clean Energy (Hydro)
CellFor Inc.
Canada
35.0
Agriculture
BrightSource Energy Inc.
30.0
Xtreme Power Inc.
29.5
Energy Storage
Nanosys Inc.
25.0
Advanced Materials & Technologies
SolarCity Corp.
21.5
Ceres Inc.
20.0
Source: Clean Energy pipeline

6. Top 5 Private Equity Development Capital Transactions 3Q10
Company
Country
Amount ($million)
Sector
Omega Energia
Brazil
203.9
Other Renewables & Clean Energy (Hydro)
Plasco Energy Group Inc.
Canada
110.0
Biomass
e-Gen Ltd. UK
75.9
Wind
Enfinity NV
Belgium
56.0
Solar
Monsal Ltd.
21.6
Source: Clean Energy pipeline

7. Top 5 Buyout Transactions 3Q10
Company
Country
Amount ($million)
Sector
Moser Baer Projects Pvt. Ltd.
India
300.0
Solar
Mallinckrodt Baker Inc.
USA
280.0
Tyco Waterworks Europe GmbH
Germany
245.0
Water & Waste Water Treatment
Hydroelectric Plants (48MW)
Canada
110.9
Other Renewables & Clean Energy (Hydro)
Wind Farms (46MW)
85.8
Wind
Source: Clean Energy pipeline

8. Global Venture Capital Investment 3Q08 to 3Q10
Source: Clean Energy pipeline

9. Global VC investment by sector 3Q10
Notes: VC Early-stage: up to Series C or equivalent. VC Late stage: Series D or equivalent and above. Undisclosed deal values have been estimated.
Source: Clean Energy pipeline

10. VC investment – North America 2Q09 - 3Q10
Notes: VC Early-stage: up to Series C or equivalent. VC Late stage: Series D or equivalent and above. Undisclosed deal values have been estimated.
Source: Clean Energy pipeline

11. VC investment – Europe 2Q09 - 3Q10
Notes: VC Early-stage: up to Series C or equivalent. VC Late stage: Series D or equivalent and above. Undisclosed deal values have been estimated.
Source: Clean Energy pipeline

12. Global VC investment – by Stage 3Q10
Source: Clean Energy pipeline

13. Global Project / Asset finance 1Q09 - 3Q10
Notes: Includes completed financing transactions. Undisclosed deal values have been estimated.
Source: Clean Energy pipeline

14. Project finance – Cost per MW - Global 2009 - 2010
Technology
2009 ($million)
2010 ($million)
Change over 2009
Wind – Onshore
2.34
2.25
-4%
Wind - Offshore Wind
4.13
3.63
-12%
Solar – Photovoltaic
6.51
5.72
Solar - Thermal
10.96
6.85
-38%
Biomass
4.28
3.28
-23%
Source: Clean Energy pipeline

15. Markets – relative performance 2009 - 2010
Source: Clean Energy pipeline

16. Top 5 Public Market transactions 3Q10
Company
Country
Amount ($million)
Type
Exchange
Molycorp Minerals LLC
USA
394
IPO
New York Stock Exchange
Avago Technologies Ltd.
304
Secondary
NASDAQ
JSC RusHydro
Russia
298
Moscow Interbank Currency Exchange
Risen Energy Co., Ltd.
China
276
Shanghai Stock Exchange
Trony Solar Holdings Ltd.
224
Hong Kong Stock Exchange
Source: Clean Energy pipeline

17. Global M&A activity 1Q07 - 3Q10
Notes: Includes completed financing transactions. Undisclosed deal values have been estimated.
Source: Clean Energy pipeline

18. Top 5 M&A transactions 3Q10 Target(s) Country
Total Disposition ($million)
Sector(s)
Acquirers(s)
Africana Energía SL
Spain
414.3
Solar / Wind / Biomass / Biofuels /Hydro
Ortiz Construcciones y Proyectos SA, TSK Group
Green Mountain Energy Co.
USA
350.0
Carbon
NRG Energy Inc.
Recurrent Energy Inc.
305.0
Solar
Sharp Corp.
Combined Cycle Power Plant (400MW) - Plana del Vent, Spain
252.7
Co-generation
Alpiq Holding AG
Cellulosic Biofuels Division (Verenium Corp.)
109.1
Biofuels
BP Biofuels North America LLC
Source: Clean Energy pipeline

19. Clean Energy pipeline VB/Research www. cleanenergypipeline
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