Welspun Energy Valuation, Funding & Investors

Welspun Energy is valued at $376M as of June 2014.

Last Welspun Energy valuation

$376M

Undisclosed stage · Jun 2014

Last Welspun Energy funding round

$165M

Undisclosed stage · Oct 2015

Cumulative funding Welspun Energy raised

$215M

across 2 funding rounds

Key investors in Welspun Energy

  • Asian Development Bank
  • GE Ventures

Welspun Energy Overview

About Welspun Energy

Welspun Energy is an Indian renewable energy developer building wind and solar projects. It operates plants across states like Rajasthan and Gujarat with a portfolio exceeding 500 MW capacity. The company pursues 1.7 GW additions through hybrid technologies and storage integration.


Founded

2002

HQ

IndiaNew Delhi

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based

Valuation

$376M (Jun 2014)

Welspun Energy Valuation

Welspun Energy is currently valued at $376M, based on its undisclosed-stage round in June 2014.

The $50M round included Asian Development Bank.

Welspun Energy valuation by funding round

Welspun Energy valuation by funding round
DateStageValuation
Jun 2014Undisclosed stage$376M

Welspun Energy Funding History

Welspun Energy has raised a total of $215M across 2 funding rounds.

Welspun Energy's first fundraising round was a $50M undisclosed-stage round in June 2014. The most recent completed round was a $165M undisclosed-stage round in October 2015.

Welspun Energy funding rounds

Welspun Energy funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2015Undisclosed stageAsian Development Bank; GE Ventures$165M-Welspun Energy is a renewable energy developer in India focused on solar and wind projects, operating India's largest solar power project by a single company at 151 MW in Madhya Pradesh as of early 2015. The company had an installed capacity of around 350 MW and was developing projects worth 750 MW. with plans announced earlier in 2015 for $2.5 billion investments to set up 1.5 GW renewable capacity over three years. In January 2015, it signed agreements with Gujarat state government for 1.1 GW renewables, including 500 MW wind and 600 MW solar. Investors including Asian Development Bank, KfW, and GE Energy Financial Services had provided debt and equity funding prior to the queried round.
Jun 2014Undisclosed stageAsian Development Bank$50M$376MWelspun Renewables Energy Private Limited (WREPL), a 100% subsidiary of Welspun Energy Limited, is an independent renewable energy developer in India focused on solar and wind power projects. The company had operational renewable energy generation capacity of 328 MW across eight states as of mid-2014, including one of the world's largest solar projects at 151 MW in Neemuch. The company planned to expand total capacity to 1,750 MW in solar and wind over three years with over INR 11,000 crore in capital outlay. In June 2014, the Asian Development Bank committed US$50 million in equity capital to support the development of wind and solar projects, enabling the company to add 100 MW of wind and 200 MW of solar capacity by March 2016. The ADB investment represented a 13.3% stake in WREPL, implying an approximate post-money valuation of USD 375.9 million. Other funding sources for the project included USD 35 million from other investors, USD 5 million from internal accruals, and USD 250 million in project debt. The investment was structured to catalyze further private sector participation in India's renewable energy sector and demonstrated viability of profitable renewable energy investments, with the projects expected to avoid 400,000 tonnes of CO2 emissions annually upon completion by 2017.

Who has invested in Welspun Energy?

2 investors have backed Welspun Energy across its funding rounds, including Asian Development Bank and GE Ventures.


Welspun Energy Investors

Investors in Welspun Energy by funding rounds participated
InvestorHQRoundsRoleFirst check

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Welspun Energy Competitors

Welspun Energy competitors include listed companies like Gevo, Aydem Yenilenebilir Enerji and Lydia Yeşil Enerji, and private ones like HTEC Hydrogen Technology & Energy, Volt Energy and Altano Energy.

Public and private companies comparable to Welspun Energy
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HTEC Hydrogen Technology & EnergyCanadaVancouverPrivate--$386M-
GevoUnited StatesUnited StatesPublicly listed$161M$7M$393M2.7x
Aydem Yenilenebilir EnerjiTurkeyTurkeyPublicly listed$265M$75M$354M2.2x
Volt EnergyUnited StatesMiami, FLPrivate--$400M-
Lydia Yeşil EnerjiTurkeyTurkeyPublicly listed$1M-$403M-
Altano EnergySpainMadridPrivate--$350M-

Welspun Energy Public Comps

Welspun Energy is still privately-owned, but its public comps include Gevo, Aydem Yenilenebilir Enerji, Lydia Yeşil Enerji, Energiekontor, IC Enterra, Sterling and Wilson, Montauk Renewables, SINOTECH Co, BayWa and Cloud Live Technology.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Gevo$161M$7M3.2x2.7x71.7x10.7x
Aydem Yenilenebilir Enerji$265M$75M3.1x2.2x11.0x5.7x
Lydia Yeşil Enerji$1M-367.9x---
Energiekontor$193M$99M3.5x2.7x6.8x8.0x
IC Enterra$86M$52M6.5x5.1x10.9x6.9x
Sterling and Wilson$787M($15M)0.7x0.7x(37.6x)15.3x
Montauk Renewables$176M$32M2.6x2.3x14.1x9.5x
SINOTECH Co$263M$2M1.6x1.7x282.7x-

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Common questions about Welspun Energy

When was Welspun Energy founded?Welspun Energy was founded in 2002.
Where is Welspun Energy headquartered?Welspun Energy is headquartered in New Delhi, India.
Is Welspun Energy publicly listed?No, Welspun Energy is a private, VC-backed company.
What is Welspun Energy's valuation?Welspun Energy was last valued at $376M in its undisclosed-stage round in June 2014.
How much funding has Welspun Energy raised?Welspun Energy has raised $215M across 2 funding rounds.
What was Welspun Energy's last funding round?Welspun Energy's last funding round was a $165M undisclosed-stage round in October 2015.
Who are Welspun Energy's investors?Welspun Energy's investors include Asian Development Bank and GE Ventures.
Which companies are comparable to Welspun Energy?Companies comparable to Welspun Energy include HTEC Hydrogen Technology & Energy, Gevo, Aydem Yenilenebilir Enerji, Volt Energy, Lydia Yeşil Enerji and Altano Energy.

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