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 Wysłany: Czw Mar 07, 2024 12:30 Temat postu: Report: Global Solar Corporate Funding Reaches $10 Billion i |
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Mercom Capital Group, LLC, a global clean energy communications and consulting firm, has released its annual report on funding and M&A activity for the 2018 solar sector.
Global corporate funding into the solar sector, including venture capital and private equity (VC), debt financing, and public market financing totaled $9.7 billion (B) compared to the $12.8B raised in 2017.
2018 was a year filled with uncertainties, which started with Section 201 tariffs follo Israel Telegram Number Data wed by an announcement from China that it was capping installations and reducing its feed-in-tariff. More bad news came from India which imposed safeguard duties on imports. Uncertainty stemming from the three largest solar markets in the world was reflected in equities of publicly-traded solar companies as well as fundraising activity during the year,” commented Raj Prabhu, CEO of Mercom Capital Group.
VC Funding
Global VC funding for the solar sector in 2018 fell 18% to $1.3 billion in 65 deals from $1.6 billion in 99 deals in 2017. Of the $1.3 billion in VC funding raised in 65 deals in 2018, $1.2 billion went to 50 Solar Downstream companies.
VC funding into PV technology companies came to $37 million, and Service Providers raised $28 million. Balance of System (BOS) companies raised $25 million, Thin-film companies raised $25 million, and Concentrator Photovoltaics (CPV) raised $2.4 million.
The top solar VC funded companies in 2018 included Cypress Creek Renewables with $200 million, GreenYellow with $174 million, Amp Solar with $154 million, Wunder Capital with $112 million, and Sunnova Energy with $100 million.
Public Financing
Public market financing in 2018 came to $2.3 billion in 21 deals compared to $1.7 billion in 33 deals in 2017. In 2018, announced debt financing came to $6 billion in 53 deals versus $9.5 billion in 74 deals during 2017. There were five securitization deals totaling $1.4 billion compared to $1.3 billion in 2017.
Large-scale project funding announced in 2018 came to $14 billion in 182 deals versus $14 billion in 167 deals during 2017. According to the report, 182 investors funded ~15 GW of large-scale solar projects in 2018.
The top large-scale project investors included the European Bank for Reconstruction and Development (EBRD), the Dutch development bank FMO and Natixis.
There were 82 solar merger and acquisition transactions in 2018 compared to 72 transactions in 2017, with solar downstream companies accounting for 49.
The solar sector set a record in 2018 with 29GW of project acquisitions. There were 218 large-scale solar project acquisitions in 2018 compared to 228 transactions in 2017.
About 100 GW of large-scale projects have been acquired since 2010, a reflection of how far solar has come as an asset class. Quality solar projects are now a mature, attractive investment opportunity around the world,” added Prabhu.
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