CleanTech/ Renewable Energy, Finance, Other, Wind

VC funding in wind sector lower in 2012 compared to previous year

According to reports, venture capital (VC) funding in the wind sector was slightly lower in 2012 as compared to 2011. The total amount was nearly $315 million in 22 deals, according to a report by Mercom Capital Group, llc, a global clean energy communications and consulting firm.

While venture capital funding into new technology companies was sparse, it does not indicate a lack of innovation in the sector as a lot of large manufacturers with their own research and development (R&D) divisions spend millions of dollars to improve efficiencies and come up with new designs and innovations,” said Raj Prabhu, managing partner of Mercom Capital Group.

For a sector still dependent on subsidies, there is still a lot of room for investments in new designs and technologies that reduce costs and increase efficiencies,” he said.

The top deal in 2012 was $183 million raised by Element Power, a developer, owner and manager of wind and solar projects in United States, South America and Europe. Other deals that made up the top 5 included: $21.5 million raised by Mainstream Renewable Power, a developer of renewable energy and offshore wind projects, $20.2 million raised by ReGen Powertech, a wind turbine maker, $18.6 million raised by Leap Green Energy, an independent power producer, and $15.3 million raised by Trishe Developers, a wind power infrastructure company.

Mercom tracked approximately $14 billion in 71 announced large-scale project funding deals in 2012. Of these, $4.2 billion in 22 deals came in the fourth quarter. In comparison, large-scale project funding announcements in 2011 came to approximately $11 billion in 52 deals.

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