Global clean energy consulting firm Mercom Capital Group has released its report on funding and merger and acquisition within the solar industry during the second quarter of 2019.
Key study findings include:
1. A 11% year over year increase in total corporate solar funding
2. Corporate total funding reached $6 billion during the first half of 2019 from $5.4 billion the same period last year
3. Corporate funding reached $3.3 billion during the second quarter of 2019 alone with 29 deals signed from $2.7 billion in the first quarter when 35 deals were signed
4. Year-over-year funding during the second quarter of 2019 was 12% higher compared to $2.9 billion in Q2 2018
5. Venture funding in solar increased by 50% from 2018 levels by reaching $799 million from $531 million. 62 venture capital investors participated
6. Public funding was 20% lower in the first half compared to last year. A total of $993 million was signed in eight deals compared to $1.2 billion signed in 12 deals last year
7. There were 37 solar merger and acquisitions compared to 46 during the first half of 2018
8. There were 11.6 GW of solar projects acquired in 1H 2019. Investment firms accounted for 6.8 GW (58%) of project acquisitions.
Raj Prabhu, CEO of Mercom Capital Group, said: “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. The pre-ITC step down and the duty exemption for bifacial modules has also helped increase U.S. demand. Solar activity in India is expected to pick up post elections. However, China remains the wild card,”
