• Winners announced in annual Environmental Finance awards

    23 July 2009

    Environmental Finance magazine has named the winners of its annual awards, which recognise leading transactions and individuals active in environmental markets.

  • Recognising new realities

    01 July 2009

    Any hopes that the environmental markets would escape the worst of the last 12 months' financial crisis proved in vain – but financiers still managed to put together some innovative and game-changing transactions. Environmental Finance recognises last year's leading deals

  • PERSONALITY OF THE YEAR Lars Josefsson CEO, Vattenfall

    01 July 2009

    As we approach the crucial climate talks in Copenhagen this December, it is the world's politicians that we are relying upon to forge an ambitious successor to the Kyoto Protocol – but it is the world's business leaders who will be expected to deliver its goals. And few business leaders have been as outspoken on climate change, or as ambitious, as Lars Josefsson, chief executive of Vattenfall, a Swedish energy company with pan-European ambitions.

  • IPO OF THE YEAR SMA Solar Technology

    01 July 2009

    SMA Solar Technology listed in June 2008, at a time when the market was almost shut for initial public offerings (IPOs). The Environmental Finance IPO of the year was one of only three IPOs in Europe in the first half of 2008, raising €362 million ($512 million) through its listing on the Frankfurt Stock Exchange.

  • RENEWABLE ENERGY DEAL OF THE YEAR First Solar acquisition of Optisolar's development portfolio

    01 July 2009

    It is perhaps indicative of the past 12 months that this year's renewable energy deal of the year saw no cash change hands – but it did mark, in the words of one analyst, a "watershed for the sector". On 2 March, industry-leading US solar photovoltaic (PV) module maker First Solar announced that it was to acquire for $400 million in stock the development pipeline of Optisolar, a California-based manufacturer and developer of solar PV systems, which had been struggling to find the finance to develop its projects.

  • CARBON FINANCE TRANSACTION OF THE YEAR Camco, Standard Bank structured CER auction

    01 July 2009

    The events of the past year have shown that innovation in financial markets is not always a good thing. But where it can pay dividends is in applying proven financing techniques from other markets into esoteric new ones. It is for this reason that last summer's certified emission reduction (CER) sale by Camco and Standard Bank stands out, where a tried and tested structure was imported into the carbon market and adapted to suit the demands of this new commodity class – while securing €15 million ($21 million) up front, with no conditions attached, for the project developer.

  • WEATHER RISK DEAL OF THE YEAR Origin Energy/Marsh wind and power hedge

    01 July 2009

    Wind farms are supplying an ever-growing proportion of the world's energy demand, but the feedstock – wind – is an unpredictable resource compared with fossil fuels and presents particular risk management issues for power suppliers, for whom not meeting delivery obligations could prove financially disastrous.