Total global corporate funding into the solar sector amounted to USD 12.8 billion in 2017, registering a 41 per cent jump over last year, a report says.
This is a 41 per cent increase compared to USD 9.1 billion raised in 2016, according to global clean energy communications and consulting firm Mercom Capital Group.
Total global corporate funding into the solar sector — including venture capital/ private equity, debt financing, and public market financing — stood at USD 12.8 billion last year.
“A strong fourth quarter pushed overall funding higher in 2017,” Raj Prabhu, CEO and Co-Founder of Mercom Capital Group, said in a release.
Higher installation levels around the world, strong debt financing activity, and over a billion dollars in securitisation deals and other factors helped the solar industry have a much better year in terms of financial activity compared to 2016, he added.
In 2017, global venture capital investments came to USD 1.6 billion through 99 deals. This is an increase of 30 per cent from the USD 1.3 billion raised by 78 deals in 2016.
Overall, five of the top six solar venture capital funding deals in 2017 came from India.