1H and Q2 2019 Solar Funding and M&A Report

1H and Q2 2019 Solar Funding and M&A Report


1H 2019 Total Corporate Funding

Rises 11 percent YoY to $6 Billion

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Total corporate funding (including venture capital funding, public market, and debt financing) in the first half (1H) of 2019 was up with $6 billion raised compared to the $5.4 billion raised in 1H 2018, an 11% increase year-over-year (YoY).

Solar Corporate Funding 1H 2015-1H 2019

“Financial activity was up in the first half of the year and there is optimism in the global markets, which was reflected by climbing solar stock prices. Demand in Europe has picked up post MIP. Market activity in the U.S. is up before the ITC step down kicks in and the duty exemption for bifacial modules has provided a much needed boost. Solar activity in India is expected to pick up post elections. However, China remains the wild card,” said Raj Prabhu, CEO of Mercom Capital Group.

In 1H 2019, Global VC funding (venture capital, private equity, and corporate venture capital) in the solar sector was 50% higher with $799 million compared to $531 million raised in the first half of 2018.

Announced debt financing activity in the first half of 2019 ($4.2 billion in 27 deals) was 16% higher compared to the first half of 2018 when $3.6 billion was raised in 32 deals. There were four solar securitization deals totaling $598 million in 1H 2019. Cumulatively, over $4 billion has now been raised through securitization deals since 2013.

Announced large-scale project funding in the first half of 2019 saw $9 billion announced for 76 projects compared to 1H 2018 when $8 billion went into 98 project funding deals.

Project acquisition activity was up slightly in 1H 2019 with 11.6 GW of solar projects acquired compared to 11.3 GW acquired in the same period last year. Investment firms continued to be major acquirers of solar assets and accounted for about 6.8 GW (58%) of acquisitions.

There were 262 companies and investors covered in this report. It is 85 pages in length, and contains 76 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.

Also available: 
Custom Excel Sheets with all transactions for the quarter, and
Custom Research with data from the past 5 years!
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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.