Venture Capital Cleantech Investments Rise In 2010

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Venture capital (VC) investments in the wind, solar and smart grid sectors were up in 2010, according to a report released by Mercom Capital Group LLC, a global clean energy market intelligence, consulting and communications firm.

Large-scale project funding came to $4.1 billion in 2010, while debt and other funding logged in $36 billion, of which $34 billion was provided by Chinese government banks to Chinese companies, dwarfing all other solar transactions in 2010. LDK Solar, Yingli Solar, JA Solar, Suntech and Trina Solar were the largest beneficiaries.

The wind sector saw a 40% increase in VC and private-equity activity in 2010, with $277 million invested compared to $198 million in 2009. Large offshore wind projects boosted project funding activity to over $9 billion in 2010. Mergers and acquisitions (M&A) transactions in the wind sector came to a total of $1.3 billion in 23 deals, with the $860 million acquisition of John Deere Renewables by Exelon making up the bulk of it.

Top smart grid VC transactions included the $165 million raised by Landis+Gyr, the $106 million raise by Trilliant and the $52 million raised by OpenPeak. The acquisition of Ventyx by ABB for more than $1 million remained the largest M&A transaction for the year.

SOURCE: Mercom Capital Group

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