Solar sector funding dips to $25.3 bn in 2015

Solar sector globally attracted corporate funding worth USD 25.3 billion in 2015 against that of USD 26.5 billion in 2014, says a report. "Total global corporate funding in the solar sector, including venture capital/private equity (VC), debt financing, and public market financing, raised by public companies came to USD 25.3 billion, compared to USD 26.5 billion in 2014," according to a report by clean energy communications and consulting firm Mercom Capital Group. Mercom Capital Group CEO Raj Prabhu said that overall it was a good year for the solar sector considering the turbulence in the stock markets and trouble with "yieldcos in the second half of the year. The extension of the Investment Tax Credit (ITC) was a much needed boost for the sector, paving the way for a strong 2016." Global VC investments came to USD 1.1 billion in 83 deals in 2015, compared to USD 1.3 billion in 85 deals in 2014, the statement said. Despite a weak fourth quarter, public market financing had its strongest year with almost USD 6 billion raised in 38 deals, compared to the 2014 record of USD 5.2 billion in 52 deals.