Energy - JULY 12, 2021

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Total corporate funding for solar sector reaches $13.5b in H1 2021

by Andrea Zander

Total corporate funding (including venture capital funding, public market, and debt financing) in the first half of 2021 came to $13.5 billion, compared with $4.6 billion in the first half 2020, a 193 percent year-over-year (YoY) increase, according to a report by Mercon Capital Group.

“Funding was up across the board in the first half of 2021 compared to last year, which was severely affected by the pandemic,” said Raj Prabhu, CEO of Mercom Capital Group. “Corporate M&A activity was up significantly, with solar developers expanding their pipelines, oil and gas companies diversifying into renewables, and funds buying up renewable assets. Solar project acquisitions reached a record high in the second quarter. The transition from fossil fuels to renewables and ESG investing trends made an impact on financing as well as M&A activity.”

In the first half 2021, venture capital (VC) funding was 680 percent higher, with $1.6 billion raised in 26 deals, compared

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