Wind sector VC funding rebounds in Q3 2012 – Report

A newly released report looking at investment in the global wind power sector finds that venture capital (VC) funding more than tripled in the third quarter of this year, compared to a dismal $17m in Q2.

Published by Mercom Capital Group LLC, a clean energy consulting firm, the report found that-third quarter VC funding totalled $57m in six deals. The disclosed VC deals included $21.5m raised by Mainstream Renewable Power and $15.3m by Trishe Developers.

Other major findings of the report include announced large-scale project funding in Q3 totalled $1.1bn in 11 deals. All of which are onshore projects.

These deals include:

  • $350mi raised by Nareva Renouvelables and Kharabel FZE for its 300 MW Tarfaya project in Morocco
  • $165m for Alto Holding’s 120 MW Karaburun in Turkey;
  • $141m raised by NuPower Renewables for its 150 MW onshore wind farm in Indi; and.
  • $86m for InfraVest and Wpd’s 53 MW Tongyuan wind project in Taiwan.

Another key finding of the report was that out of 18 large-scale project funding investors, only Germany’s KfW IPEX-Bank was involved in multiple deals in Q3.

For a full list of Q3 2012 wind sector transactions can be accessed at
http://mercomcapital.com/cleanenergyreports.php

In related news, the American Wind Energy Association (AWEA) recently released its US Wind Industry Third Quarter 2012 market report, which found that in Q3 alone 1833 MW of wind power was installed across 15 states. The top adopters of new capacity were Kansas, Oregon, Texas, Oklahoma and Nevada.

AWEA confidently predicts that 2012 will be a record year for the development of wind power within the US, with capacity now surpassing 50,000 MW. However, the future may be less positive.

The recognised major driver behind the development of the United States' wind sector is the Production Tax Credit (PTC). However, the incentive is due to expire at the end of this year unless Congress votes to extend it. The vote is expected to take place after next month's preseidential election.

According to Denis Bode, CEO of the AWEA, a failure to extend the PTC will probably result in the significant lost jobs within the country’s wind industry.

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