India gets Rs 500 cr VC funding in solar energy
India received Rs 500 Crore in venture capital funding and over Rs. 5,828 crore in large-scale project funding in 2011 in the solar energy sector, Mercom Capital Group, a global clean energy communications and consulting firm, has said.
“Investment activity in 2011 was robust,” said Raj Prabhu, managing partner of Mercom. “Whether you point to the dramatic module price declines, Europe’s diminishing incentives, solar continued to gain attention and dollars for technology and innovation through venture capital funding.”
“As the nation’s solar policies take shape, India is finally on the world’s solar funding map. Most investors that participated in Indian large-scale solar projects were export banks, government or state-owned banks. For India’s solar industry to truly thrive there needs to be a conducive environment to attract more robust participation from private financial institutions,” he added.