Global solar sector investments touches $13.3bn in H1

Total global corporate funding in the second quarter of this year in solar sector amounted to USD 6.3 billion, taking the aggregate investments in the first six months of this year to USD 13.3 billion, consulting firm Mercom Capital Group said.

Solar panels
Total global corporate funding in the solar sector, including venture capital (VC), private equity (PE), debt financing, and public market financing raised by public companies, came in at USD 6.3 billion, while in the first quarter the amount stood at USD 7 billion, the firm said.

“It was a solid quarter for the solar sector in terms of fundraising. VC funding was up, public markets remained strong and we are seeing new and innovative financial structures,” Mercom Capital Group CEO Raj Prabhu said.

Residential/commercial solar funds continue to raise record amounts, he added.

In the VC funding space, the April-June quarter saw deals worth USD 432 million through 21 deals including two Indian deals.

The two Indian VC deals included Simpa Networks raising USD 2.2 million in funding and A K Surya PowerMagic raising about USD 0.5 million from Intellecap Impact Investment Network and Infuse Ventures.

Meanwhile, there were 33 large-scale project funding deals totaling USD 3.5 billion announced in Q2 2014, including two Indian deals.

The two Indian deals were Welspun Renewables Energy raising USD 24 million from GE Energy Financial Services and CaptureSolar Energy, raising USD 125 million from PG Concept, a Cyprus-based PV solutions provider, for a 75 MW solar PV project in Pune, Maharashtra.

There were 25 corporate M&A transactions in the solar sector in Q2, down from 38 transactions in Q1 2014. The largest disclosed M&A transaction by dollar amount was the USD 350 million acquisition of Silevo, a solar cell and PV module manufacturer, by SolarCity.

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