Corporate sources plowed $7.1 billion of capital into the global solar sector through the first three quarters of 2017, down 5.3 percent from the corresponding nine months of 2016, according to Mercom Capital’s, “Solar Runding and M&A 2017 Third Quarter Report.” In terms of transactions, Mercom tracked 143 from January through end Sept. 2017 as compared to 125 a year ago.
Mercom includes venture capital, public market and debt financing in its coverage of solar sector corporate funding.
Zooming in on this year’s 3Q corporate solar sector funding $2.4 billion was raised in 45 deals as compared to $1.4 billion in the 37 Mercom tracked for 2Q’17. Year-over-year, 3Q’17 solar sector funding was about 19 percent lower than the $3 billion raised in 2Q’16, however, Mercom highlights.
Breaking out the numbers for 2017’s first nine quarters, global VC solar sector funding totaled $985 million, up 7 percent from $925 million through 2016’s first three quarters.
Morgan Stanley, MUFG Securities America, BNP Paribas and Bank of Tokyo-Mitsubishi joined in the largest solar project financing in the US for the quarter, a loan package of $100 million to build the 400MW Imperial Solar West Project.
There were 58 solar M&A transactions tracked by Mercom in 2017’s first three quarters. That compares to 48 signed through the first nine months of 2016. Eighteen were disclosed in 3Q, six of which disclosed transaction totals. That compares to 11 solar M&A transactions in 2Q.
Read more about this new trend on the US Solar Market here, on energycentral.