Indian Wind Energy Developer Eyes Funding From Canadian, Dutch Pension Funds
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India-focused wind energy developer Continuum Wind Energy is reportedly looking to raise funds to expand its asset base in the country.
According to media reports, the Singapore-based company is looking to raise funds by stake sale or selling some assets. The funds would likely be used to set up more wind energy projects in the country. Continuum committed last year to set up 1 GW of additional wind energy capacity over the next 5 years.
People privy to the developments told an Indian media outlet that the company may raise funds from various potential investors including ‘a Canadian pension fund and Dutch pension fund manager APG Asset Management.’
Late last year, it was reported that SunEdison called off a deal to acquire a majority stake in Continuum Wind Energy. The deal was termed as one of the most significant in terms of exhibiting global confidence in the Indian renewable energy market. Continuum’s acquisition would have given SunEdison control of over 400 MW of operational wind energy assets and, more significantly, a crucial footprint in the Indian wind energy market.
Currently, Morgan Stanley Infrastructure Partners holds the majority stake in the company.
Several Indian renewable energy companies are looking to raise funds by selling equity stake or some operational assets. Due to the significantly improved regulatory backing for renewable energy sector in India, companies may hope to attract international investors looking to grab a share in one of the fastest growing markets in the world.
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