Q2 2018 Solar Funding and M&A Report
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1H 2018 Total Corporate Funding
Plunges 15 percent YoY to $5.3 Billion
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Total corporate funding (including venture capital funding, public market, and debt financing) in the first half (1H) of 2018 was up with $5.3 billion raised compared to the $4.6 billion raised in 1H 2017, a 15 percent increase year-over-year (YoY).
“The first half of 2018 has been a roller-coaster for the solar industry marked by uncertainty due to Trump tariffs followed by the recent Chinese subsidy pullback,” commented Raj Prabhu, CEO of Mercom Capital Group. “Though financial activity was better compared to the same period last year, the market is still sorting out the winners and losers that would come out of a potential slowdown in Chinese demand, which is expected to result in an oversupply situation and eventual price crash in components across the globe.”
Global VC funding (venture capital, private equity, and corporate venture capital) for the solar sector in 1H 2018 was 36 percent lower with $458 million compared to the $716 million raised in the first half of 2017.
Announced debt financing activity in the first half of 2018 ($3.6 billion in 32 deals) was 22 percent higher compared to the first half of 2017 when $3 billion was raised in 33 deals. Most of that increase was due to two securitization deals: Vivint solar raised $466 million through asset back notes and Dividend Finance secured $105 million in a similar deal.
Large-scale project funding in the first half of 2018 saw $7.96 billion announced for 98 projects compared to 1H 2017 when a record $7.4 billion was raised in 81 project funding deals.
There were 117 large-scale project acquisitions in 1H 2018 totaling 11.6 GW compared to 101 project acquisitions totaling 10.9 GW in the first half of 2017.
Investment firms and funds were the most active acquirers in 1H 2018, picking up projects totaling 4 GW.
There were 269 companies and investors covered in this report. It is 78 pages in length and contains 78 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 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 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.