A Mercom Capital report said global venture capital, private equity, and corporate venture capital in the solar sector was 74 per cent lower in 1H2020, with $210 million, compared to $799 million raised in 1H2019.
Debt financing activity in 1H2020 ($3.6 billion in 15 deals) was 16 per cent lower, compared to 1H2019, when $4.2 billion was raised in 27 deals. There were four solar securitisation deals totalling $1.06 billion in 1H2020. Cumulatively, $6.3 billion has been raised through securitisation deals since 2013.
Solar project acquisition activity was up in 1H2020 with 14.7 Gw, compared to 11.6 Gw acquired in the same period last year. Only about 3 Gw of solar projects were acquired in Q2 of 2020, compared to 5.7 Gw in Q2 of 2019.
Oil and gas majors were the major acquirers of solar assets in 1H2020 and accounted for about 6.5 Gw (45 per cent) of acquisitions, followed by investment firms with 6.1 Gw (41 per cent).
Large-scale solar project funding in 1H2020 came to $7.5 billion across 69 projects, compared to 1H2019, with $9 billion in 76 project-funding deals.
There were 25 solar merger and acquisition transactions in 1H2020, compared to 37 transactions in 1H2019. There were 36 large-scale solar project acquisitions in Q2 of 2020, compared to 56 in the first quarter of 2020. About 2.8 Gw of solar projects were acquired in Q2 of 2020, compared to 5.7 Gw in Q2 of 2019.