Advanced Search
MyIDEAS: Login to save this paper or follow this series

M&A im Bereich Erneuerbarer Energien


Author Info

  • Fritz-Morgenthal, Sebastian G.
  • Hach, Sebastian T.
  • Schalast, Christoph


Several top deals already closed, a still highly fragmented industry and strong pressure for further consolidation following the financial crisis - renewable energy certainly has become a red-hot topic in M&A. Surveying 220 companies in the solar photovoltaic, utility and financial sector as well as major technology corporations, which are identified as the key industries in the sector-specific takeover market, this working paper proves the common knowledge for the example of photovoltaics. With more than 93% of the respondents, a vast majority expects the M&A environment to further ameliorate and deals to increase. As for the fundamental market drivers, the survey suggests a shift from factors linked to the financial crises towards an increasing impact of general industry-related influences. In contrast, neither the industry sector nor other corporate characteristics are of significant importance. With respect to prevailing takeover strategies, the survey reveals a strong influence of general acquisition motives. However, an empirically significant connection can be determined between the industry sector of potential buyers and the most relevant motivation factors, which allows for the assumption of business-affected takeover strategies that are elaborated on more closely within the working paper. Examining an acquisition focus in terms of the targets' position in the photovoltaic value chain, no statistically valid connection can be observed with either the acquisition motivation or the industry sector of the potential buyer, leaving room for further research. --

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL:
Download Restriction: no

Bibliographic Info

Paper provided by Frankfurt School of Finance and Management in its series Frankfurt School - Working Paper Series with number 144.

as in new window
Date of creation: 2010
Date of revision:
Handle: RePEc:zbw:fsfmwp:144

Contact details of provider:
Postal: Sonnemannstraße 9-11, 60314 Frankfurt am Main
Phone: 069 154008-0
Web page:
More information through EDIRC

Related research

Keywords: Erneuerbare Energien; Renewable Energy; Solarenergie; Photovoltaik; M&A; Merger; Acquisition; Konsolidierung; Akquisitionsstrategie; Finanzkrise; EEG; Solarförderung; Energiewirtschaft; Versorgungssicherheit; Energieabhängigkeit; Nachhaltigkeit; Sustainability;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:


No references listed on IDEAS
You can help add them by filling out this form.


Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Kostka, Genia & Zhou, Jianghua, 2010. "Chinese firms entering China's low-income market: Gaining competitive advantage by partnering governments," Frankfurt School - Working Paper Series 147, Frankfurt School of Finance and Management.
  2. Herrmann-Pillath, Carsten, 2010. "Rethinking evolution, entropy and economics: A triadic conceptual framework for the maximum entropy principle as applied to the growth of knowledge," Frankfurt School - Working Paper Series 146, Frankfurt School of Finance and Management.
  3. Umber, Marc P. & Grote, Michael H. & Frey, Rainer, 2010. "Europe integrates less than you think: Evidence from the market for corporate control in Europe and the US," Frankfurt School - Working Paper Series 150, Frankfurt School of Finance and Management.


This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


Access and download statistics


When requesting a correction, please mention this item's handle: RePEc:zbw:fsfmwp:144. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.