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Total corporate funding, including venture capital (VC) funding, public market, and debt financing, in 1H 2023 totaled $18.5 billion, 54% higher year-over-year (YoY) compared to $12 billion raised in 1H 2022. The number of deals decreased by 12% YoY, with 80 deals in 1H 2023 compared to 91 during the same period last year.

“Even amidst the tightening financial market conditions and high interest rates, the solar industry  remained strong in the first half of the year. Besides AI, cleantech is one of the few sectors still attracting VC interest. Demand due to the Inflation Reduction Act (IRA) is so strong that even interest rate-sensitive public market and debt financing in solar was up year-over-year. The lack of easy money, however, affected M&A activity negatively,” said Raj Prabhu, CEO of Mercom Capital Group.

In 1H 2023, global VC funding activity rose  3% YoY, with $3.8 billion in 33 deals compared to $3.7 billion in 53 deals in the first half of 2022.

Solar debt financing activity in 1H 2023 reached $8 billion in 33 deals, a 60% increase compared to 1H 2022, when $5 billion was raised in 30 deals.

In 1H 2023, there were 116 project acquisitions for 25.5 GW of solar projects compared to 148 project acquisitions totaling 37.8 GW in 1H 2022.

There were 187 companies and investors covered in this report. It is 98 pages in length and contains 84 charts, graphs, and tables.

Mercom Capital Group’s Quarterly Solar Funding and M&A Reports are comprehensive high-quality reports delivering superior insight, market trends, and analysis. These reports help bring clarity to professionals in the current financial landscape of the solar industry.

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Quarterly market and deal activity displayed in easy-to-digest charts, graphs, and tables, alongside data-driven analysis.

The report covers all types of deals and financing activity, including:

• Venture capital funding deals, including top investors, QoQ and YoY trends, and a breakdown of charts and graphs by technology, sector, stage, and country;
• Large-scale project funding deals, including top investors, QoQ and YoY trends and breakdown charts and graphs by technology and country;
• Public market financing, including equity financing, private placements, and rights issues;
• Debt and other funding deals, as well as QoQ and YoY trends;
• Third-party residential/commercial project funds;
• Large-scale project acquisitions and active project acquirers;
• Large-scale project announcements in various levels of development throughout the world;
• Mergers and acquisitions (M&A), including QoQ and YoY trends, a breakdown of charts and graphs by technology and sector, as well as project M&A activity;
• New cleantech and solar funds;
• New large-scale project announcements;
• Large-scale project costs per MW.

This report also contains comprehensive lists of all announced Q2:

• VC funding, debt financing, public equity financing, and project funding deals;
• VC and project funding investors;
• M&A transactions;
• Project acquisitions by amounts and megawatts;
• M&A, and project M&A transactions;
• Large-scale project announcements.

Mercom’s comprehensive report covers deals of all sizes across the globe. Have questions about the report? Email us here.