Total global corporate funding in the solar sector totalled up to USD 6.3 billion, compared to USD 7 billion in Q1 2014. Two IPO’s including Yieldco and a securitization deal was witnessed this quarter, reports Mercom Capital, clean energy communications.
It was a bright quarter for the solar sector in fundraising field. VC funding was up, public markets remained innovative and financial structures came up. Residential and commercial solar funds raised record amounts.
Global VC funding, in Q2 2014 totalled USD 432 million, up from USD 251 million in 26 deals in Q1 2014. Solar downstream companies attracted most of the VC funding this quarter, with USD 388 million.
The largest VC deal in Q2 2014 was the USD 150 million raise by Sunrun, a provider of residential solar photovoltaic (PV) systems.
There were 33 large-scale project funding deals totalling USD 3.5 billion announced in Q2 2014. A major large-scale project funding deal in Q2 2014 included the USD 820 million raised by Megalim Solar Power for a 121 MW project in Israel.
Third-party residential and commercial solar funds retained popularity with more than USD 1.3 billion raised in Q2 2014. SunPower was the topper in list, raising USD 492 million.
Around 25 corporate M&A transactions took place in Q2, down from 38 transactions in Q1 2014. The acquisition of Silevo by SolarCity saw the transaction of USD 350 million.
Project acquisitions in Q2 2014 totalled USD 229 million in 34 transactions with 1.1 GW capacity involved. The acquisition of SunEdison’s 17.8 MW Castle Eaton solar project in UK was finalized for USD 37.6 million.
Mercom also recorded 150 large-scale project announcements worldwide in Q2 2014 representing 7.6 GW.
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