Solar financing activity rebounds in Q3 2020 with $3.2bn funding
1/6
2/6
3/6
4/6
5/6
6/6
BusinessToday.In
Oct 15, 2020,
Updated Oct 15, 2020, 1:19 PM IST
Solar energy financing activities are rebounding globally since coronavirus disruptions, as the total corporate funding came to $3.2 billion in the third quarter of 2020, from the $2.3 billion in Q2'20, a growth of 43 per cent.
The funding increased by 8 per cent compared to the same quarter last year.
However, corporate funding was still 13 per cent lower in the first 9M of 2020 at $7.9 billion compared to $9 billion raised during 9M 2019.
The top VC deals in 9M 2020 were: $72 million raised by Sunseap Group, $50 million raised by Zero Mass Water, $40 million raised by Ecoppia, $37 million raised by Sunseap Group in a separate deal, and $35 million raised by Lumos.
In the first nine months of 2020, VC funding in the solar sector was 61 per cent lower at $394 million compared to $1 billion raised in 9M 2019.
In 9M 2020, 42 corporate solar M&A transactions (11 disclosed for $7 billion) were announced, compared to 57 transactions (10 disclosed for $600 million) in 9M 2019. Seventeen solar M&A transactions (five disclosed for $6.8 billion) were executed in Q3 2020 compared to 13 in Q2 2020 and 20 transactions in Q3 2019.
Special 
