56,8%+10%
Renewable mix 2024
Capittal
Menu
New website
Discover the renewed Capittal site: valuation calculator, opportunities and M&A insights for better prepared deals.
Sectors / Energy
Energy. Buyers, multiples and sector-specific value drivers.
Energy services, efficiency, renewable assets, maintenance and energy transition.
Sector focus
We do not apply a generic template. We adapt the narrative, buyer selection and price defence to the real logic of the sector.
200+
Annual M&A transactions
10-14x
Asset EBITDA multiple
132GW
Installed capacity
Market
Context before discussing multiples.
The energy transition sustains appetite for renewables, O&M, efficiency, storage and energy services. Contracts, permits and regulatory risk define value.
Infrastructure funds look for assets with cash visibility.
PPAs and maintenance contracts reduce volatility.
Storage and hybridisation create new growth theses.
Permits, grid connection and regulation are critical due diligence points.
Drivers
What we review before speaking with buyers.
Contracts
We read this driver with financial, operational and market data before approaching buyers.
Regulation
We read this driver with financial, operational and market data before approaching buyers.
Pipeline
We read this driver with financial, operational and market data before approaching buyers.
Technical risk
We read this driver with financial, operational and market data before approaching buyers.
Specialisation
Subsegments where the value reading truly changes.
Solar PV
Operating plants, portfolios and projects with advanced permits.
- PPA
- Resource
- Grid connection
Wind
Onshore parks, repowering and assets with production history.
- Production
- Useful life
- O&M
Energy services
O&M, efficiency, commercialisation and electric mobility.
- Contracts
- Recurrence
- Technology
Storage
Batteries, hybrid systems and grid flexibility.
- Capacity
- Regulation
- Revenue stack
Sector method
What changes in a energy mandate.
01
Technical due diligence
Production, equipment condition, permits, connection, O&M contracts and expected useful life.
02
Regulatory model
PPA, merchant exposure, remuneration regime, regulatory risks, tax and price sensitivities.
03
Financial structure
Project finance, debt, expected yield, guarantees and optimal structure for institutional buyers.
FAQ
Frequently asked questions for this sector.
How is a renewable asset valued?
Mainly through DCF, considering expected production, energy price, PPA, useful life, maintenance capex, debt and regulatory risk.
What is the difference between development and operation?
A project in development carries discounts for permits, connection and construction. An operating asset is valued using real production and cash history.
Who buys energy assets?
Infrastructure funds, utilities, diversified energy groups, family offices and platforms with an energy-transition thesis.