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Wind Energy Venture-Capital Funding Up

Manufacturing Group | January 16, 2012

Global venture-capital (VC) funding for wind energy totaled $369 million in 14 deals in 2011.

Global venture-capital (VC) funding for wind energy totaled $369 million in 14 deals in 2011 - up from $277 million in 11 deals in 2010 and $189 million in 20 deals in 2009, according to a new report released by Mercom Capital Group.

Wind power start-up ReNew Wind Power's $202 million raise was the top VC funding deal. Boulder Wind Power and Wind Energy Direct came in second and third, with $35 million and $29 million raised, respectively.

Project-specific funding also was higher than in previous years, reaching nearly $11 billion - $1.6 billion more than in 2010. Offshore wind projects represented $3.4 billion in five deals, and onshore wind raised $7.5 billion in 46 deals.

The top project in 2011 was the 400 MW Global Tech I offshore wind project in Germany, which raised $1.5 billion. Other top project deals were WindMW’s 288 MW Meerwind wind farm, which raised $1.2 billion, and the 272 MW Canadian wind farm being developed by Boralex, Gaz Metro and Valener’s Selgneurie de Beaupre, which raised $713 million.

The U.S. saw the most VC funding deals in terms of companies ($294.7 million in nine deals) and projects ($2.9 billion in 19 deals). Germany was a close second in investment, with $2.8 billion in large-scale project funding, followed by Canada, with $1.1 billion.

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