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Global wind sector attracts $1567mn funds in Sept qtr: Report

Last Updated: Monday, October 29, 2012 - 17:46

New Delhi: Globally the wind sector attracted total funding of over USD 1,567 million (Rs 8,463 crore) through 22 deals, including three Indian transactions during the September quarter this year, says a report.

According to global clean energy communications and consulting firm, Mercom Capital Group's third quarter funding and M&A activity report, the wind sector in the September quarter saw total funding worth USD 1,567 million through 22 deals as against USD 4,389 million by way of 21 transactions in the year-ago period.

The report analysed funding on the basis of four categories -- project funding, VC funding, debt funding and others.

Some of the notable Indian transactions during the September quarter include, the USD 141 million large-scale project funding raised by NuPower Renewables for its 150 MW wind power project in Tamil Nadu, followed by USD 281 million debt funding raised by Suzlon Energy in short-term loans to repay holders of its foreign convertible bonds, signing an 18 month loan facility with 11 lenders.

Another leading Indian transaction include USD 15.3 million corporate VC funding raised by Trishe Developers, a Chennai-based renewable energy infrastructure company with a focus on wind-power infrastructure development.

Meanwhile, the wind sector witnessed good number of M&As. The sector saw M&A deals USD 460 million dollar through 28 transaction, which also included the acquisition of National Wind, a US-based wind project developer by the Chennai-based Trishe Wind Energy.

In Q3 2012, VC funding in the wind sector totaled USD 57 million in six deals compared to USD 17 million in three deals in Q2 2012, and USD 284 million in seven deals in Q3 2011.

Announced large-scale project funding in the third quarter of this year amounted to USD 1.1 billion in 11 deals compared to USD 5.4 billion from 23 deals in Q2 2012.

Equity investment was the only other type of funding deal which amounted to USD 24.5 million in Q3 2012, compared to USD 13 million in two deals in Q2 2012.


First Published: Monday, October 29, 2012 - 17:46
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