Wind-Power Market Blows Cold
The climate is getting worse for wind-power companies, which are finding it increasingly difficult to attract venture backers. Investment in U.S. turbine farms and wind-energy businesses tumbled 38 percent last year to $9.7 billion, according to data from Bloomberg New Energy Finance. Venture capitalists have practically left the sector altogether. They invested only $177.6 million in wind startups last year, down 71 percent from the year before, BNEF found.
Wind power is bucking a broader trend for clean energy, which is experiencing a surge of investment. Venture backers pumped $4.29 billion into the green tech industry in 2011, up 13 percent from the previous year, according to the National Venture Capital Association. With wind, it’s harder for early investors to afford the large outlay of cash needed to get a business off the ground