Q1 2019 Solar Funding and M&A Report
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Q1 2019 Total Corporate Funding
Rises 10 percent YoY to $2.8 Billion
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Total corporate funding (including venture capital funding, public market, and debt financing) into the solar sector in Q1 2019 came to $2.8 billion. Year-over-Year (YoY) funding in Q1 2019 was about 10 percent higher compared to the $2.5 billion raised in Q1 2018.
“Funding levels were up slightly year-over-year in Q1 2019, but the solar industry was on a much stronger footing at the beginning of this year compared to a year earlier, when the industry was hit with tariffs, subsidy and installation cuts in China, and a module oversupply situation. The market is upbeat, and solar equities rebounded strongly in the first quarter. However, China is still a wild card, and depending on its 2019 policy direction, it could have a significant impact on the solar industry,” said Raj Prabhu, CEO of Mercom Capital Group.
Global VC funding for the solar sector in Q1 2019 totaled $176 million in 13 deals, compared to $161 million raised in 22 deals in Q1 2018.
Announced debt financings came to $2.35 billion in 19 deals during Q1 2019 compared to $2.3 billion in 18 deals in Q1 2018. Most of the debt raised in Q1 2018 was by solar downstream companies. There were three securitization deals in Q1 2019.
Announced large-scale project funding in Q1 2019 touched a record high with $5.68 billion in 43 deals compared to $2.8 billion in 47 deals during Q4 2018. In a YoY comparison, $2.7 billion was raised in 57 deals in Q1 2018.
M&A activity was steady with 18 solar transactions in Q1 2019 compared to 19 transactions in Q1 2018. Of the total 18 transactions, 14 involved Solar Downstream companies. There were two transactions apiece involving Equipment Manufacturers and Balance of System (BoS) companies.
Led by investment firms, about 5.9 GW of solar projects were acquired in Q1 2019 compared to 4.8 GW in Q4 2018 and 7.7 GW in Q1 2018.
There were 297 companies and investors covered in this report. It is 80 pages in length, and contains 65 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.