Global solar sector sees $9.8 bn corporate funding in Q3

Reflecting bullish sentiment, the solar sector globally attracted corporate funding worth USD 9.8 billion during the July-September quarter, says a report.
The amount is much higher than investments of USD 6.3 billion seen in the second quarter of this year, according to Mercom Capital Group.
"Total global corporate funding in the solar sector, including venture capital, private equity, debt financing and public market financing raised by public companies, jumped to USD 9.8 billion," it said in a statement today.
Mercom Capital Group is a clean energy communications and consulting firm.
In the 2014 September quarter, global venture capital/ private equity funding touched USD 326 million spread across 21 deals. However, the amount is lower than USD 452 million recorded by way of 22 deals in second quarter of this year.

"Public market financing in the third quarter totaled USD 987 million including one IPO compared to USD 1.3 billion in the second quarter (of 2014)," Mercom Capital said.

During the third quarter, debt financing accounted for USD 8.5 billion, higher than USD 4.6 billion seen in the three months ended June.
"Financing activity was strong all around this quarter whether you look at venture capital, debt or public markets, and it was the best fund-raising quarter since Q1 2011. Venture capital funding in solar has now crossed USD 1 billion in the first three quarters this year," Mercom Capital Group CEO Raj Prabhu said.

As per Mercom Capital, there were 32 corporate merger and acquisition deals in the solar sector during the third quarter.
"The largest disclosed M&A transaction by dollar amount was the USD 200 million acquisition of GRAPP Energies, an Indian EPC and turnkey solutions provider in renewable energy, and its subsidiary Green Ripples, by Solargise, a UK-based solar project developer," it said.