AUSTIN, Texas--(BUSINESS WIRE)--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) and the first nine months (9M) of 2019.
Total corporate funding (including venture capital/private equity, public market, and debt financing) in 9M 2019 was up with $9 billion raised, compared to $6.7 billion in 9M 2018, a 34% increase year-over-year (YoY).
Get the report: http://bit.ly/MercomSolarQ32019
Corporate funding came to $3 billion in Q3 2019, compared to $1.3 billion in Q3 2018.
Chart: Solar Funding 9M2015 – 9M2019
“Corporate funding activity so far this year is ahead of last year’s levels as demand outlook looks positive, and solar public companies continue to do well. In Q3 2019, over $100 million in venture funding went to technology and manufacturing-focused companies, which is rare. Five IPOs and over a billion dollars in securitization deals so far this year have been the highlights,” said Raj Prabhu, CEO of Mercom Capital Group.
In 9M 2019, global VC funding (venture capital, private equity, and corporate venture capital) in the solar sector was 13% higher with $1 billion compared to $889 million raised in 9M 2018.
Top VC deals in Q3 2019 were: $50 million by BBoxx, $42 million raised by Oxford PV, $40 million by Solaria, and $30 million by exeger.
Chart: Top Solar VC-Funded Companies
A total of 88 VC investors participated in solar funding in 9M 2019.
Solar public market financing in 9M 2019 came to $2.25 billion in 13 deals, 25% higher compared to $1.8 billion in 14 deals in 9M 2018. A total of five IPOs in the solar sector have brought in $1.3 billion in 9M 2019.
Announced debt financing in 9M of 2019 ($5.8 billion in 37 deals) was 43% higher compared to 9M of 2018. There were six securitization deals for $1 billion in 9M 2019. Cumulatively, $4.7 billion has now been raised through securitization deals since 2013.
In 9M 2019, there were a total of 57 solar M&A transactions compared to 64 in 9M 2018.
Chart: Top Disclosed Solar M&A 9M 2019
There were 15.9 GW of solar projects acquired in 9M 2019 compared to 23.6 GW in 9M 2018.
Chart: Solar Project Acquisitions
246 companies and investors are covered in this 85-page report. The report contains 78 charts, graphs, and tables.
Get the report: http://bit.ly/MercomSolarQ32019
About Mercom Capital Group
Mercom Capital Group is a global communications and consulting firm focused on clean energy. Mercom produces funding and market intelligence reports covering Solar and Battery Storage/Smart Grid/Efficiency. Mercom advises cleantech companies on new market entry, custom market intelligence, and overall strategic decision-making. http://mercomcapital.com.