Q1 2018 Solar Funding and M&A Report
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Q1 2018 Total Corporate Funding
Plunges 65 percent QoQ to $2 Billion
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Total corporate funding (including venture capital funding, public market, and debt financing) into the solar sector in Q1 2018 fell 65 percent quarter-over-quarter (QoQ) to $2 billion from the $5.7 billion raised in Q4 2017. Year-over-year (YoY), Q1 2018 funding was 38 percent lower than the $3.2 billion raised in Q1 2017.
“After a strong fourth quarter in 2017, financial activity slowed again in Q1 2018 to the post-tariff announcement levels of last year as uncertainties and a lack of clarity in the markets took a toll on investments,” commented Raj Prabhu, CEO of Mercom Capital Group. “The bright spot during Q1 was a record-high number of solar project acquisitions, proving that solar power generation is a sought-after asset class.”
Global VC funding (venture capital, private equity, and corporate venture capital) for the solar sector fell 75 percent QoQ to $161 million in 22 deals compared to the $639 million raised in 30 deals in Q4 2017. The amount raised was also lower YoY compared to the $588 million raised in 23 deals in Q1 2017.
The majority of the VC funding raised in Q1 2018 went to solar downstream companies with $124.5 million in 18 deals.
Announced debt financing totaled $1.8 billion in 17 deals during the first quarter of 2018. In a QoQ comparison, 23 deals were announced in Q4 2017 for a total of $4.4 billion. Most of the debt raised in Q1 2018 was by solar downstream companies.
Large-scale project funding announced in Q1 2018 totaled $2.7 billion in 58 deals, down from $3.7 billion in 49 deals announced in Q4 2017. In a YoY comparison, $2.6 billion was raised in 33 deals in Q1 2017.
There were 20 investment firms and funds that acquired 24 projects in Q1 2018, totaling 1.2 GW, followed by utilities and IPPs where 13 companies picked up 30 projects totaling 1.3 GW. Twelve Project developers acquired 14 projects for 3.4 GW during the quarter.
There were 328 companies and investors covered in this report. It is 87 pages in length, and contains 64 charts, graphs, and tables.
Mercom Capital Group’s Quarterly Solar Funding and M&A Reports deliver comprehensive, high-quality analysis and superior insight into solar market trends around the globe. This must-read report gives professionals a clear vision on the financial landscape of the global solar industry, and helps them make solid business decisions that put them ahead of the market.
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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 trends, and a breakdown of charts and graphs by technology, sector, stage and country;
- Large-scale project funding deals, including top investors, QoQ 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 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 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 Q1:
- 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.