Solar funding sees a 25% drop but oil and gas firms among top acquirers
The total corporate funding in the first half of 2020 (1H2020) dropped 25 per cent to $4.5 billion, compared to $6 billion last year, even though a report says it could have been worse. The funding included venture capital funding, public market, and debt financing.
Indicating a deliberate shift towards clean energy, oil and gas majors were the major acquirers of solar assets in 1H2020, accounting for 45 per cent, or about 6.5 gigawatt (Gw) of acquisitions during the period.
“Financial activity in the first half of the year reflects the realities on the ground. Even though solar stocks have performed well, and corporate funding in the second quarter (Q2) looked slightly better because of several securitisation deals, global economies and solar activity are still far from being back to where they should be.
