YieldCo
The term YieldCo comes from English and describes companies that generate a stable, predictable flow of capital . So far there is no German translation. “Yield” stands for “profit” or “profit”, “Co” is the abbreviation for “Company”. In the USA , YieldCos are particularly well known, but not limited to, the renewable energy sector . The companies in which investors can participate in the form of shares operate solar parks , for example .
YieldCos usually do not bear any development risks, but purchase plants that are already in production. Sometimes project developers set up YieldCos for wind farms , for example , in order to then sell completed projects to them.
Similar to real estate investment trusts (REIT) in the real estate sector, the special list of YieldCos creates financial advantages for investors. Compared to the traditional raising of capital, the financing costs are significantly lower. This makes a system interesting for a broader public, reduces overall project costs and increases competitiveness. This aspect is particularly important in the field of renewable energies, because the investment costs are by far the most important component, while maintenance during the running time causes relatively little effort.
Since spring 2016, an online portal of well-known equity analysts has presented companies from Germany , Austria and Switzerland that work in the YieldCos manner. According to the portal, the pioneer for the German market is ABO Invest AG. The market leader in Germany is Capital Stage AG , whose market capitalization already exceeded half a billion euros in spring 2016.
An alternative form of organization that is widespread in German-speaking countries is the citizens' energy cooperative , where the risks of project development, as in general with independent electricity producers , are usually borne there.
Individual evidence
- ↑ German YieldCo with more dividends ( Memento of the original from April 27, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , The shareholder of June 4, 2015, accessed on April 27, 2016, on capitalstage.com
- ↑ MacQuarie, May 21, 2015 (accessed May 15, 2016)
- ↑ Listed YieldCos & Green IPPs in the DACH region , homepage, accessed on April 27, 2016
- ↑ Portrait of Capital Stage AG , accessed on April 27, 2016, from comdirect.de
