The solar sector received $2.8 billion in corporate funding globally, including venture capital funding, public market, and debt financing. Activity across venture capital funding, public market, and debt financing were up 10% in Q1 2019, compared to Q1 of 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.
According to the report, global VC funding for the solar sector in Q1 2019 was mostly flat, totaling $176 million in 13 deals, compared to $161 million raised in 22 deals in Q1 2018.
Public market financing into the solar sector was up year-over-year (YoY) with $247 million in three deals in Q1 2019 compared to $103 million in four deals in Q1 2018.
Debt financing for solar companies was also flat.
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.
M&A activity was also similar to last year. New renewable energy and solar-focused funds raised a total of $3.8 billion in Q1 2019.
Reference- Mercom India Report