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APR 23 2012

Wind energy venture capital funding off to a breezy start at $240 million in Q1

  • Economic Times, ET Bureau / Hyderabad
  • Created: Mon 23rd APR 2012

The global venture capital funding in the wind energy sector has got off to a strong start with deals worth $ 240 million for 12 deals in the first quarter of this calender year.

According to Mercom Capital Group, a global clean energy communications and consulting firm, venture capital funding in the first quarter stood at $ 240 million through 12 deals, compared to just $ 12 million for two deals in fourth quarter of last calendar year.

The biggest VC deal in the first quarter was the $ 183 million fund raised by Element Power, a global project developer.

Other major VC deals in the sector during the quarter included a $ 20.2 million raised by ReGen Powertech, a turnkey solution provider and wind turbine maker, followed by $ 18.6 million raised by project developer Leap Green Energy, $ 10 million raised by Apex Wind Energy, and a $ 3.5 million raised by Pentalum.

Meanwhile, in terms of merger and acquisitions, the first quarter marked one of the strongest activity in the wind energy sector, in terms of transactions, as 11 deals were announced worth $ 872 million.

The top M&A deals included the $ 850 million acquisition of Seajacks International, a UK-based offshore Wind Power Service provider, by Marubeni Corporation and Innovation Network Corporation of Japan.

Other major M&A deals in the wind energy sector comprised the $ 12 million acquisition of Fuji Heavy Industries' Wind Turbine Generator Business by Hitachi and the $ 10.2 million acquisition of a 49.9 per cent stake in OWEC Tower by KV Ventus.

Tags

Wind Turbine Wind Wind Power Energy Indus ReGen Japan Mercom Capital Group Power

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