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Web Exclusive | July 2013

Wind Sector VC funding at $210 mn in Q2

Wind power venture capital (VC) funding picked up significantly during second quarter of 2013 amounting to $210 million with the help of some large deals going to project developers in India compared to just $16 million last quarter. ReNew Power, an Indian wind project developer attracted $135 million from Goldman Sachs, which raised its total investment in the company to $385 million so far. NSL Renewable Power, also a project developer from India, received $60 million in funding from multiple investors.

In two smaller funding deals, IDEOL, a designer and installer of foundations for offshore wind projects, raised $9.1 million, and $6.2 million was received by ROMO Wind, a wind technology company focused on improving wind turbine rotor function. Announced large-scale project funding in Q2 2013 totaled $3.2 billion in 24 deals compared to $6.2 billion in 29 deals in Q1 2013. There were a total of 42 investors that participated in project funding deals this quarter.

Nevertheless, there were six M&A transactions in Q2 2013, amounting to $328 million. The top M&A transaction this quarter was the acquisition of Salus Fundos de Investimento em Participacoes (Salus) by Copel for ~$128 million.

PNE WIND purchased a 54 per cent share in WKN from former shareholder Volker Friedrichsen Beteiligungs for $122 million. Aksa Energy acquired 93 percent stake in Kapidag Ruzgar Enerjisi Elektrik Uretim for $67 million.

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