By October 11, 2017 Read More →

Corporate global solar funding $7.1 billion in first 9 months of 2017


Corporate floating solar farm SUNGROW photo.

Large-scale project corporate funding crosses $10 billion in 2017

Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and merger and acquisition (M&A) activity for the solar sector in the third quarter (Q3) of 2017 and the first nine months of 2017.

Total corporate funding (including venture capital funding, public market and debt financing) in 9M 2017 was lower with $7.1 billion (B) raised versus 9M 2016’s $7.5B.

There were 143 deals in nine months 2017 versus 125 in 2016.

Corporate funding in solar in Q3 2017 grew 74 per cent to $2.4B in 45 deals over Q2 2017’s $1.4B in 37 deals.

Year-over-year (YoY) funding fell 19 per cent versus $3B in Q3 2016.

“Debt financing activity outside of the U.S. helped bump up corporate funding in Q3 as financing activity in the U.S. was muted ahead of the Suniva anti-dumping case decision,” commented Raj Prabhu, CEO of Mercom Capital Group.

Global VC funding (venture capital, private equity, and corporate venture capital) rose seven percent in first nine months 2017 to $985 million (M) from $925M in first nine months 2016.

In Q3 2017, solar VC funding doubled to $269M in 23 deals versus $128M in 23 deals in Q2 2017 and 72 per cent went to solar downstream companies ($193M in 13 deals) in Q3 2017.

Q3 2017 Top VC deals: $100M for CleanMax Solar; $56M by Sunseap Group; $21M by Sol Voltaics; Ampt’s $15M; and Ubiquitous Energy’s $15M. 35 investors participated in solar funding in Q3 2017.

Solar public market funding fell 12 per cent to $1B in nine months 2017 versus nine months in 2016’s $1.2B.

In first nine months 2017, debt financing was $5.1B in 51 deals versus nine month 2016’s $5.4B in 55 deals.


Q3 2017 top debt deals: Greenko Energy Holdings’s $1B in green bonds; Cypress Creek Renewables got $450M from Temasek.

First nine months 2017 announced large-scale project funding saw $10.2B raised for 117 projects. In Q3 2017, $2.8 B went to 36 projects.

Chart: Solar Top 5 Announced Large-Scale Projects Funded Q32017

Announced residential and commercial solar funds totaled $2.2B in first nine months 2017.

First nine months 2017 had 58 M&A transactions versus 48 transactions in nine months 2016.

There were 18 solar M&A transactions in Q3 2017 versus 11 in Q2 2017.

161 large-scale project acquisitions in first nine months 2017 totaled 14.6 GW versus 145 totaling 7.1 GW in first nine months 2016.

Mercom tracked 296 new large-scale project announcements in Q3 2017 totaling 15.7 GW.

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