Wind energy sees some activity in India

Four large transactions in wind energy have brought back some activities in the sector in India during the quarter ended September 30, according to a report complied by Mercom Capital Group. 

Nagarjuna Agrichem, an Indian agrochemicals maker, sold off its entire wind power business to an undisclosed investor for Rs30 crore (~$5 million) as part of its strategy to consolidate on core business. 

Goyal MG Gases, an Indian manufacturer and supplier of industrial gases, acquired an 11.2 MW wind project from DLF for Rs29.52 crore ($4.9 million). 

Continuum Wind Energy, a wind project developer, backed by Morgan StanleyInfrastructure Partners has acquired DJ Energy and Uttar Urja Power Projects from Delhi based Sravanthi Group totaling 178.7 MW for an undisclosed amount. 

Green Infra, a renewable energy power producer has acquired a majority stake in TVS Energy, a subsidiary of TVS MotorBSE 2.11 %, for an undisclosed amount. With the latest acquisition, Green Infra has added 59.75 MW of wind farms across Tamil Nadu and Maharashtra, taking its operating capacity to 377 MW. 

Nevertheless, Wind venture capital (VC) funding dropped slightly to $135 million compared to $210 million in Q2 2013 globally. Total funding in the wind sector came in at $5.6 billion in Q3 2013, including VC funding and other equity financings, debt financings and announced project funding deals. 

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Source: ET

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SUMIT KUMAR

Executive at India Electron Exchange

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