Prior to the economic crisis, renewable energy – or "green gold" as it was being referred to then – was on the upswing. Large wind farms were being installed across Europe, the US, China and many other developed and emerging nations, while solar power was on its own upward trajectory with supply chain bottlenecks being one of the common constraining factors across the different technologies. Now, the tide has turned. Many renewable energy projects have stalled or come to a complete stop due to issues ranging from the situation with the global economy, the state of government finances, difficulties in funding, and regulatory uncertainty.
In particular, many renewable energy players are finding funding is harder to come by and where it is available, more expensive or with more onerous terms than they have been used to. In terms of mergers and acquisitions (M&A), renewable energy is currently more of a buyer’s market but some unrealistic price expectations remain.