inner-banner

Continuum Wind Energy Announces Investment by Morgan Stanley Infrastructure Partners LLP


Singapore, June 24, 2012

Continuum Wind Energy Pte Ltd, a company focussed on wind energy generation ("Continuum Wind"), announced a growth capital investment by Morgan Stanley Infrastructure Partners ("MSIP" or the "Fund") to create a large scale business.   Continuum Wind currently owns and operates 36MW of wind power capacity in India, has 183MW in advanced stages of development and construction, and an additional 300MW in development.

Arvind Bansal, CEO and founder of Continuum Wind said "This investment commitment by MSIP will help Continuum Wind pursue its chosen path of developing a high quality, technology agnostic, differentiated business in wind energy. MSIP's focus on global infrastructure and long term investment horizon is best suited for building a large scale, long term business in the Indian energy deficient market. MSIP has committed substantial capital to India's power sector and brings rich knowledge, expertise and relationships for our benefit. Our rapidly growing management team is very excited to be a part of this future with continued support from its bankers, customers, vendors, business associates and colleagues."

Continuum Wind operates in the fast-growing wind energy sector in India, which has averaged 29% annual capacity growth over the past decade. India ranks fifth in the world after the U.S., Germany, Spain, and China, with an installed wind power capacity of about 16,000MW, and a natural potential of over 100,000MW. The Indian Government has been increasing enforcement of its requirement that utilities procure a percentage of their power needs from renewable sources, accelerating the need for wind power. There is a growing shortage of domestic coal and an increasing dependence on expensive imported fuel sources. Wind energy generation costs have steadily dropped and are now at grid parity levels in many states, making it an attractive investment opportunity.

Shiraz Bugwadia, Managing Director at o3 Capital Advisors, who were exclusive advisors to the transaction said, “Continuum Wind is in a state of readiness to achieve financial closure quickly on some very attractive large scale wind energy projects. Continuum Wind’s focus on profitability and maximizing capital efficiency will hold it in good stead. Its projects and offtake agreements exhibit the key characteristics of infrastructure assets investors look for, such as long useful lives, addressing unmet market demand, and a strong contractual framework. We look forward to working closely Continuum Wind in furthering its growth strategy.”

For further details, please contact, Gautam Chopra at  +919820398699  or gautam.chopra@continuumenergy.in