Global wind venture capital funding rebounds in 2013
According to a report from Mercom Capital Group, a global clean energy communications and consulting firm, wind venture capital (VC) funding rebounded in the first quarter of 2013, raising $16 million in three deals after the previous quarter saw just one $500,000 VC deal.
The report also says that most of the funding activity this quarter went towards project funding. Announced project funding in Q1 2013 came to $6.2 billion in 29 deals with some extremely large transactions recorded this quarter. There were four M&A ( mergers and acquisitions) transactions in Q1 2013, amounting to $543 million.
According to Mercom, funding and M&A activity in the Indias wind energy sector in the first quarter was active with transactions in project, debt and other funding. Notable transactions, include Continuum Wind Energy receiving a $164 million loan from State Bank of India for its 175 MW wind project in Maharashtra, Gujarat Venture Finance picking up an equity stake in a special purpose vehicle of UK based SITAC group, formed to execute a 50 MW wind project of approximately $ 47 million in Gujarat and Suzlon raising $647 million in a bond issue by State Bank of India and JPMorgan Chase.