Total global corporate funding in the solar sector, including venture capital/private equity (VC), debt financing, and public market financing raised by public companies, came to $6.2 billion, compared to $5.9 billion in Q2 2015, according to Mercom Capital Group’s report on funding and merger and acquisition (M&A) activity for the solar sector in the third quarter of 2015.
Raj Prabhu, CEO of Mercom Capital Group said in a release that Q3 was “eventful” especially regarding the equity markets. “Although solar power demand continues to grow, solar stocks have made a complete U-turn in the last three months, affecting public market financing, which was down by about a billion dollars excluding IPOs,” he added.
VC funding increased to $257 million in 15 deals, compared to $142 million in 24 deals in Q2 2015. Solar downstream companies continued to draw most of the VC investments with $114 million in seven deals.