A recent report showed a drop in total funding in the Indian wind sector
The third quarter wind venture capital funding fell to USD135 million from USD210 million in the previous quarter of 2013. For 2013, total funding for the wind sector reached USD5.6 billion, consisting of venture capital funding and other equity financing, debt financing and other project funding deals.
This was the results found in the research conducted by the Mercom Capital Group. The group is a global clean energy communications and consulting firm whose recent report found the decline in both venture capital funding and other project acquisitions. A total of 59 investors had participated in the third quarter of 2013 for 28 deals with a value of USD3.7 billion.
In the the third quarter of 2013, a total of 14 mergers and acquisitions were completed, with four of these reported to be worth of USD280 million. One of the larger mergers was completed by Green Infra, a renewable energy power producer had purchased majority ownership of TVS Energy for an undisclosed amount.
Other notable transactions were Nagarjuna Agrichem had sold its wind power business for INR30 crore to focus on its core businesses. Another transaction is the acquisition by Continuum Wind Energy of DJ Energy and Uttar Urja Power Projects from Sravanthi Group for an unreported amount.