Olympus Capital To Inject $70 Million Into Morgan Stanley-Backed Wind Company

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Continuum Wind Energy entered the long list of Indian or India-based renewable energy companies looking to sell stakes to access fresh capital.

Continuum Wind Energy, controlled by Morgan Stanley Infrastructure Partners, could secure funding worth $70 million from private equity firm Olympus Capital Asia. The funds raised will be used by Continuum to retire its existing debt. The fundraising talks are still in progress.

Continuum Wind Energy is a pure wind energy developer with assets of 2.2 gigawatts of operational or under-construction capacity. The company, like several of its competitors, has not diversified into the solar market.

However, the company, like all wind energy developers, is now feeling the aggressive competition that has been recently introduced and has increased significantly. Wind energy developers are unable to add any capacity under the states’ feed-in tariff regime and are completely dependent on auctioned announced by the central or state governments.

The company has been looking to raise funds from several different sources ever since it missed the boat on being acquired by SunEdison. In mid-2015, SunEdison was reported to have shown interest in acquiring just 400 megawatts of the portfolio of Continuum Wind Energy at an estimated $600 million. The deal obviously fell through following the bankruptcy of SunEdison. Continuum scouted for funds from Canadian and Dutch pension funds in the aftermath.

Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest CleanTechnica TV Video

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
Thank you!

CleanTechnica uses affiliate links. See our policy here.


An avid follower of latest developments in the Indian renewable energy sector.

Saurabh has 1037 posts and counting. See all posts by Saurabh