MUFG Captures No. 1 Ranking as 2016’s Top Lead Arranger for Clean-Energy and Energy-Smart Technologies’ Financings
Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial institutions, today announced that it topped the 2016 global Lead Arranger rankings for financing clean-energy and energy-smart technologies. By claiming the top spot on the annual Bloomberg New Energy Finance league table, MUFG has now placed first among private sector banks for the fifth time in the past seven years.
In 2016, MUFG financed 53 clean-energy and energy-smart technology projects, totaling $2.9 billion in credits for a market share of 6.64%, according to Bloomberg. These figures represent a year-over-year increase from 2015, when MUFG led 40 deals for total credits of $2.6 billion. In the year-ago standings, MUFG placed second among lead arrangers for private sector banks after finishing first in 2014, 2012, and 2010. MUFG, the world’s fifth-largest bank in total assets1, ranked No. 1 among all lenders in 2013, and No. 2 among private sector banks in 2011.
“These rankings acknowledge the solutions-based services and dedication that MUFG’s project finance professionals bring to clients in the Americas and all over the world,” said Jonathan Lindenberg, MUFG’s deputy head of investment banking and head of structured finance for the Americas. “MUFG takes great pride in playing such a large role in this emerging area of financing. Through the great work of our clients, these projects promote responsible environmental practices while supporting the growing demand for powering economies around the world.”
Globally, approximately 41% of MUFG’s total project finance lending in the power sector goes to renewable energy projects; in the Americas, the figure is 55%.
Among MUFG’s most notable 2016 renewable deals were:
- The 588-MW Beatrice Cape Offshore Wind Farm, Phases I and II (UK, $174.9 million)
- The 573-MW Race Bank Offshore Wind Farm acquisition (UK, $162.2 million)
- The 253-MW Amazon Wind Farm Texas (U.S., $269 million)
- The 230-MW Niagara Region Wind Farm (Canada, $627.7 million), and
- The 100-MW Total SunPower El Pelicano PV solar generation facility (Chile, $199 million)
- The facility will power Metro of Santiago’s subway system
- Metro of Santiago will be the first public transportation system in the world to be powered mostly by solar energy.
MUFG’s new investments in renewable energy increased by about 10% in 2016 compared with 2015, according to Bloomberg, despite a worldwide 18% decline in the category to $287.5 billion in 2016.
Even with the fall in global investments in the renewable energy industry in 2016, Bloomberg said bright spots included: a year-over-year increase of 126 gigawatts from 119 gigawatts in installed capacity of wind and solar power; and, as prices for turbines fell, an increase in offshore wind power investments — with most of the projects located in Europe.
“We expect more offshore wind projects in the United States for 2017 and beyond,” said Lindenberg.