NEW DELHI: India has emerged as the third largest country across the Asia Pacific region in terms of merger and acquisition deal activities in the renewable energy segment with deals worth USD 134 million in 2008, a latest report says.
According to PricewaterhouseCoopers’ report on renewable M&A activity, the Asia Pacific region’s year on year deal activity increased from 53 to 64 in 2008 and India recorded about 7.3 per cent of total Asia Pacific renewable deals.
“India recorded total renewable deals of USD 134 million in 2008, which is about 7.3 per cent of total Asia Pacific renewable deals, and it stands third, behind China and Australia,” PricewaterhouseCoopers India leader for Energy & Utilities practice Ka meswara Rao said.
Regarding the prospects for this year, Rao said “2009 will be a watershed year for the renewable energy sector given its sensitivity to subsidy and environmental regulation; the current financial market conditions and the UN Climate Summit in Copenhagen will have a vital bearing on future prospects”.
In the year 2009, the continuing concerns of energy security and climate change are a driving factor, but falling energy prices and lower carbon prices may cast doubt on the viability of some renewable energy schemes. –