Total corporate funding (including venture capital funding, public market, and debt financing) into the solar sector in Q3 2017 amounted to $2.4 billion in 45 deals, a 74% increase compared to the $1.4 billion raised in 37 deals in Q2 2017.
“Debt financing activity outside of the United States helped bump up corporate funding in the third quarter as financing activity in the United States was muted ahead of the Suniva anti-dumping case decision,” commented Raj Prabhu, CEO of Mercom Capital Group.
Global VC funding for 2017 has now reached $985 million, a slight increase compared to the $925 million raised during the same period last year.
In Q3 2017, China recorded the most debt deals while India saw the highest debt amount raised. Other countries with debt deals were Australia, Germany, Italy, and the United States.
Announced large-scale project funding came to more than $2.8 billion in 36 deals in Q3 2017. The 36 announced large-scale project funding deals in Q3 2017 were distributed across 18 countries worldwide. Most of the funding went to solar projects in Egypt.
In the first nine months of 2017 there were a total of 58 M&A transactions, compared to 48 transactions in 9M 2016.
In Q3 2017, investment firms and funds were the most active acquirers followed by project developers. There was no acquisition activity by yieldcos this quarter.