Government Stimulus Boosts Cleantech VC Investments

By Narsi Santhanam • Oct 22nd, 2009 • Category: Uncategorized

Cleantech venture investment continued its recovery in Q3 09, with the total up a further 10 per cent as compared to the previous quarter, but down 42 per cent from the same period a year ago.

This is according to the preliminary Q3 09 results released by The Cleantech Group and Deloitte, which stated that Q3 09 venture investments in North America, Europe, China and India totalled Rs.7,761.65 crores ($1.59 billion) across 134 companies.

The report added that Q4 08 and Q1 09 results showed significant declines paralleling the global economic downturn. Investments showed signs of recovery on Q2 09.

Indian cleantech companies raised Rs. 104.95 crore ($21.5 million) in five investment rounds.The amount invested in Q3 09 was significantly lower than the previous quarter with Rs.654.13 crore ($134 million) and Q3 08 with Rs.903.09 crore ($185 million). Five M&A deals were tracked with a total value of Rs.693.18 crore ($142 million). Wind energy sector attracted most interest. Companies involved in M&A deals this quarter were Schneider Electric India, Techno Electric & Engineering, Chloride Group, Luminous Power Technologies and IDFC Private Equity. Mumbai-based Euro Multivision had an IPO in September in to raise capital and consolidate its solar photovoltaic manufacturing unit in Gujarat. Chennai-based industrial water solution provider VA Tech Wabag announced plans to raise Rs.488.15 crore ($100 million) via an IPO next year.

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Narasimhan (Narsi) has extensive experience in understanding renewable energy markets and strategic levers for success in these markets. His special focus has been his work on the Indian renewable energy industry. His work in the previous 15 years have spanned market and industry research, product management and international sales, and strategic consulting. see more http://www.eai.in/ref/team/ns.html

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