Cleantech Investor

First published in Cleantech Infocus: 2010 - Equity Deals of the Year, January 2011. Copyright Cleantech Investor Ltd

Renewable energy generators were successful at raising funding in emerging markets during 2010. China saw IPOs on the Hong Kong Stock Exchange by China Datang Corp. Renewable Power Co. (the country’s second largest wind power producer) and China Suntien Green Energy Corporation (which focuses on northern China and develops wind and natural gas generation). India’s Caparo Energy listed on the London Stock Exchange’s AIM market, while India’s Orient Green Power Co. saw its shares list in Mumbai.

In Sao Paulo, Renova Energia, which generates energy from wind and mini hydro, also raised funding. Meanwhile, Europe saw a high profile deal with the listing of Enel Green Energy in Italy.

However, a number of planned renewable energy IPOs were cancelled or postponed during the year due to the difficult market conditions. The US saw the shelving of the planned IPO of First Wind Holdings of Boston. In Europe, Renovalia Energy of Spain, which operates solar and wind power plants, postponed its planned IPO. And even China wasn’t immune from the difficult environment. Huaneng Renewables, a unit of China Huaneng Group Corp., was forced to scrap its planned IPO on the Hong Kong stock exchange.