AUSTIN, TX — (Marketwired) — 10/08/13 — , llc, a global clean energy communications and consulting firm, released its report today on third quarter funding and mergers and acquisitions (M&A) activity for the solar sector.
Global (VC) funding in Q3 2013 totaled $207 million (M), up slightly from the $189M raised in Q2 2013. VC funding was distributed across technology groups this quarter with receiving the most, $57M. Solar VC Funding Chart:
Total corporate funding in the solar sector, including VC, debt financing and other equity financings raised by public companies, was significantly higher $2.18 billion (B).
Raj Prabhu, CEO of Mercom Capital Group, commented, „Overall market conditions for the solar sector continue to improve. Project funding and M&A activity were at record levels reflecting improved demand outlook. Taking advantage of rising market values, we also saw significant financing activity among publicly-traded solar companies this quarter.“
The largest VC deal in Q3 2013 was the $39.9M raised by Solexel from Technology Partners, DAG Ventures, Northgate Capital, GSV Capital, KCPB Holdings and SunPower. eSolar raised $22M from Oak Investment Partners. Clean Power Finance raised $20M from UAE Fund, followed by HelioVolt which raised $19M from SK Group. Dyesol raised $16M from Tasnee, a Saudi Arabia-based diversified conglomerate. Solar Top-5 VC Deals Chart:
Third-party finance companies raised $584M in disclosed residential and commercial project funds in Q3 2013.
activity increased in Q3 2013 both in transactions and dollars, totaling $9.8B in 23 transactions. Most of this quarter-s activity was either strategic or acquisitions of distressed assets/companies/technologies on the cheap. The Top 5 Solar M&A transactions were Applied Materials- $9.4 billion acquisition of Tokyo Electron; the acquisition of LDK Solar-s Hi-Tech (Hefei) by China-s Tongwei for $142 million; SolarCity-s acquisition of Paramount Solar for $120 million; and First Solar-s acquisition of GE-s global CdTe solar intellectual property portfolio for 1.75 million shares of First Solar common stock (~$84 million).
There were 37 announced large-scale deals (almost 1,267 MW) in Q3 2013 totaling $2.89B. Mercom also tracked about 5.5 GW of new announced in various stages of development worldwide.
There were about 3,000 MW of large-scale projects acquired in Q3 2013.
To learn more about the report, visit
Mercom Capital Group, llc, is a global communications and consulting firm focused exclusively on clean energy and financial communications. Mercom-s consulting division advises cleantech companies on strategies for strategic decision making and new market entry and provides custom market research. Mercom delivers highly respected industry reports covering Energy, Energy and . Mercom-s division helps companies and financial institutions build powerful relationships with media, analysts, local communities and strategic partners. About Mercom Capital Group, visit: . To get Mercom-s popular market intelligence reports, visit: .
Public Relations Contact:
Wendy Prabhu Mercom Capital Group, llc Austin, Texas 1.512.215.4452
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