Total global corporate funding into the solar sector almost doubled to USD 6.4 billion during January-March 2015 as against the preceding quarter, according to a report by clean energy consultant Mercom Capital Group.
"Total global corporate funding in the solar sector, including venture capital/private equity (VC), debt financing, and public market financing raised by public companies, almost doubled with USD 6.4 billion (Q1 2015), compared to USD 3.4 billion in Q4 2014 (October-December)," the report said.
VC funding fell to USD 189 million in 26 deals, compared to USD 315 million in 16 deals in Q4 2014. Solar downstream companies continued to attract most of the VC funding with USD 112 million in 12 deals.
"There was record fund-raising this quarter by residential
and commercial solar funds as the ITC expiration draws closer. Project acquisition activity remained strong with yieldcos acquiring almost 20 percent of the total projects," Mercom Capital Group CEO Raj Prabhu said in a statement.
Among the top 5 VC deals in Q1 2015 (January-March), the largest was the USD 45 million raised by Conergy, a solar-downstream company providing project development, financing, EPC and O&M services, from RWE Supply & Trading and Kawa Capital Management.
Mercom Capital Group is a global clean energy communications and consulting firm.
