The biggest cleantech news in Asia for the past week was LG Groups giant move in cleantech. The South Korean conglomerate released details on its $7 billion green technology investment program, confirming that it plans to invest KRW 8 trillion (~$7 billion) in “green new business” sectors by 2015.
The complete highlights are as follows:
Venture capital and private equity investments
- India-based ReNew Wind Power, a recently established startup that develops wind energy projects, raised $202 million from Goldman Sachs’ private equity arm. Goldman Sachs acquired a majority stake in ReNew in the transaction.
- China-based Changchun Juming, a manufacturer of thin film materials used in organic LEDs and solar cells, raised RMB 13 million (~$2 million) for establishing new manufacturing facility.
Funds
- South Korean conglomerate LG Group released details on its $7 billion green technology investment program, confirming that it plans to invest KRW 8 trillion (~$7 billion) in “green new business” sectors by 2015.
Mergers and acquisitions
- India-based Solar Semiconductor, a designer, developer, and manufacturer of solar PV technologies, acquired California-based NetCrystal, a developer of stretchable photovoltaic silicon for solar applications.
- China-based Nanjing Automation, a provider of power automation, grid improvement and railway automation services, acquired Huaran New Energy, a wind power plant developer in Xinjiang Autonomous Region, China.
Initial public offerings
- China-based Chant Group, a manufacturer of biomass power generation equipments, raised 659 million (~$103 million) in an IPO on Shenzhen Stock Exchange. The company issued 37 million shares in the offering.
- China-based Safbon Water Service, a water and wastewater engineering company, raised RMB 300 million (~$47 million) in an IPO on Shanghai Stock Exchange. The company issued 16.7 million shares in the offering.