AUSTIN, Texas--(BUSINESS WIRE)--Mercom Capital Group, a global clean energy communications and consulting firm, released its annual report on funding and merger and acquisition (M&A) activity for the solar sector in 2021.
Total corporate funding across the globe in the solar sector, including venture capital and private equity (VC), debt financing, and public market financing, came to $27.8 billion (B), 91% higher compared to $14.5B in 2020. Corporate funding in 2021 was the highest in ten years.
To learn more about Mercom’s 2021 Solar Funding and M&A Report, visit: https://mercomcapital.com/product/annual-q4-2021-solar-funding-ma-report
“2021 was the best year for solar corporate funding as well as mergers and acquisitions since 2010. Financing activity bounced back strongly following a COVID-19-affected 2020. There was more money than ever chasing deals and more demand than supply of attractive companies and assets as organizations and funds look to fulfill their ESG and clean energy mandates,” said Raj Prabhu, CEO of Mercom Capital Group.
Global VC in the solar sector in 2021 came to $4.5B, 281% higher compared to $1.2B in 2020. This is also the highest VC funding in the sector since 2010. There were 11 VC funding deals over $100 million (M) apiece in 2021.
Of the $4.5B in VC funding raised in 58 deals in 2021, $3.9B (89%) went to 43 Solar Downstream companies. Balance of System companies raised $219M; Concentrated Solar Power companies bought in $108M; Solar PV companies raised $91M; Solar Service Providers raised $35M, and Thin-Film technology companies raised $18M.
The top VC funded companies in 2021 were GoodLeap (formerly Loanpal) with $1.6B in two transactions, Silicon Ranch Corporation with $775M, Aurora Solar, with $250M, Nexamp with $240M, Enpal with $175M, and GameChange Solar with $150M.
There were 154 VC and PE investors that participated in funding deals in 2021.
Public market financing was 49% higher in 2021 with $7.5B.
In 2021, announced debt financing came to $15.8B. Record securitization activity was recorded with $3.7B.
There were 126 M&A transactions in the solar sector in 2021 - the highest number ever recorded.
There were 280 large-scale solar project acquisitions in 2021. A record 69 GW of large-scale solar projects changed hands in 2021.
The report covered 367 companies and investors. It is 131 pages with 108 charts and tables.
About Mercom Capital Group
Mercom Capital Group is a global communications and consulting firm focused on clean energy. Mercom produces funding and market intelligence reports covering Solar and Battery Storage/Smart Grid/Efficiency. Mercom advises cleantech companies on new market entry, custom market intelligence and overall strategic decision-making. https://www.mercomcapital.com.