Q1 Solar Sector Corporate Funding Drops to $2.8 Billion

Mercom Capital Group Q1 solar sector funding down to $2.8 billion

Total corporate funding in the solar industry decreased to $2.8 billion in the first quarter of 2016, according to a report by Mercom Capital Group LLC.

Total corporate funding, including venture capital funding, public market and debt financing, dropped from $6.9 billion in Q4 2015 to $2.8 billion in Q1 2016, a decline of about 59 percent quarter-over-quarter. Year-over-year, total corporate funding was down compared to 64 deals totaling $6.4 billion in Q1 2015.

Global venture capital funding was $406 million in 22 deals compared to $457 million raised in 17 deals in Q4 2015. Year-over-year, venture capital funding was up compared to Q1 2015 when $195 million went into 27 deals. Most of the funding this year went to solar downstream companies with $333 million in seven deals. Sunnova Energy raised $300 million, which accounted for most of the total.

Recurrent Energy raised $180 million for the 75-MW Astoria 2 solar project in California, which placed it as No. 2 in the top five large-scale project funding deals. No. 3 was the Samsung Renewable Energy and Connor, Clark & Lunn Infrastructure, which secured $136 million for the 50-MW Southgate solar project in Ontario, Canada. SunPower’s $115.5 million loan for its 54-MW Rosamond I solar project in California rounded out the list at No. 5.

Mercom tracked 308 large-scale project announcements worldwide in Q1 2016 totaling 13.8 GW.

Read the full report

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...