Solar has a solid quarter with VC funding at $372 million compared
to $354 million in Q2 2011; M&A activity robust with 20
Mercom Capital Group llc, a global clean energy communications and
consulting firm, today released funding and merger and acquisition
(M&A) activity for the solar sector for the third quarter of 2011.
Venture capital (VC) funding in the solar sector was steady this
quarter, coming in at $372 million, compared to $354 million in Q2 2011.
Forty-two different VC investors participated in 29 disclosed deals.
funding so far this year is on pace with 2010 and M&A activity is
picking up," commented Raj Prabhu, Managing Partner at Mercom Capital
Group. "The number of M&A transactions in 2011 has already surpassed
2010 numbers, signaling that the move towards industry consolidation
may have begun."
The top five funding deals included a $85 million raise by HelioVolt, a
manufacturer of thin-film Copper Indium Gallium Selenide ("CIGS")
modules; OneRoof Energy, a developer, owner and operator of solar energy
generation systems for residential markets raised $50 million in Series
A; Calisolar, a vertically integrated solar manufacturer, raised $26
million; Clean Power Finance, a provider of integrated services and
financing solutions for the solar industry raised $25 million and
Solexant, a producer of ultra thin film solar cells, raised $23.5
million in a Series D round.
Solar downstream companies attracted the most funding this quarter
closely followed by thin-film companies, with $130 million of 11 deals
and $125 million in five deals respectively.
M&A activity came in at $563 million in 20 transactions with details
disclosed for only eight. This is the highest number of transactions in
a quarter since 2010. The most prominent transactions included the
acquisitions of Solar Silicon Valley by JA Solar for $180 million and
Fotowatio Renewable Ventures by MEMC for $131 million.
Debt funding in Q3 2011 amounted to $452 million in five announced
deals. The top three involved Chinese companies include China Sunergy,
Daqo New Energy and Hanwha SolarOne.
For a complete list of Q3 2011 transactions in the Solar sector, visit: http://mercomcapital.com/cleanenergyreports.php