Clean energy consulting firm Mercom Group has published a report analysing funding, mergers and acquisitions by corporates in the solar industry.
Corporates have increased their funding in solar energy by 34% during the first nine months of 2019 compared to the same period last year.
The solar industry has seen up to $9 billion in funding in Q3 2019 up from $6.7 billion in Q3 2018.
-Storage, efficiency and smart grid companies invest $1.7 billion
-2019 results on solar funding, merger and acquisitions released
-Report finds a decrease in corporate solar funding. Here is why.
Global venture funding has reached $1 billion this year, a 135% increase from last year’s $889 million.
Some 88 venture capital firms have participated this year.
Raj Prabhu, CEO at Mercom Group, said: “Corporate funding activity so far this year is ahead of last year’s levels as demand outlook looks positive, and solar public companies continue to do well. In Q3 2019, over $100 million in venture funding went to technology and manufacturing-focused companies, which is rare. Five IPOs and over a billion dollars in securitization deals so far this year have been the highlights.”
Other key findings of the report include:
- Solar public market financing increasing by 25% from $1.8 billion in 14 deals last year to $2.25 billion in 13 deals this year.
- Announced debt financing has reached $5.8 billion in 37 deals.
- Some 15.9GW of solar projects acquired this year compared to 23.6GW in 2018.