Global solar sector sees 193% rise in corporate funding: Mercom Capital
The global solar sector including the Indian market has witnessed total corporate funding of USD 13.5 billion in January-June period of 2021, registering a jump of nearly three-folds over the previous year, according to a report.
Total corporate funding, including venture capital funding, public market and debt financing, into the solar sector stood at USD 4.6 billion during the same period of 2020, the report by clean energy consulting firm Mercom Capital Group said.
“Funding was up across the board in the first half of 2021 compared to last year, which was severely affected by the pandemic. Corporate M&A activity was up with solar developers expanding their pipelines, oil and gas companies diversifying into renewables, and funds buying up renewable assets,” said Raj Prabhu, CEO of Mercom Capital Group.
