The situationPlenty to sell, plenty to acquire. A matching that stalls.
Entire portfolios are looking for an exit, developers want to become IPPs, investors are looking for RTB: supply and demand have never been so strong.
But the market is still traded in portfolios, a complex and inefficient format: two good projects drowned in a lot of weaker ones, heavy due diligence, processes that drag on. The result: a lack of liquidity, lengthy transactions, and prices pushed down.
Our conviction: value is not in the portfolio, it is in the relevant introduction, project by project. An early-stage project can have zero value for one developer, and enormous value for another, because it adjoins one of their projects, completes their network, or has an available grid connection.