As global investments in clean energy sank 11 percent to $245 billion last year, banks found a new opportunity: funding, advising and leading the initial public offerings of renewable-power investment firms called yield companies.
Yieldcos, as they’re known, grow by purchasing the solar, wind and other power plants that supply utilities under long-term contracts. From a trickle a few years ago, they’ve raised more than $3.8 billion since 2013 as of mid-September, Bloomberg Markets magazine will report in its November issue.
