AUSTIN, TX, Jul 09, 2013 (Marketwired via COMTEX) --
Mercom Capital Group, llc, a clean energy communications and
consulting firm, released its report on funding and mergers and
acquisitions (M&A) activity for the solar sector during the second
quarter of 2013.
Solar venture capital (VC) investments increased to $189 million (M)
in 19 deals in Q2 2013 compared to $126M in 26 deals in Q1 2013.
Solar downstream companies received most of the funding with $128M.
"With solar technology companies struggling, investments have been
going to downstream companies," commented Raj Prabhu, CEO of Mercom
Capital Group. "That said, investments into solar technology
companies haven't completely dried up. Small venture rounds are still
going to several niche technology companies instead of the larger
deals that were typical for thin film, CSP and CPV companies."
The largest VC deals in Q2 2013 included the ~$69M raised by Chinese
developer Hefei Golden Sun Energy Technology. Clean Power Finance
raised $42M from Edison International, Kleiner Perkins Caufield &
Byers, Google Ventures, Claremont Creek Ventures, Clean Pacific
Ventures, Sand Hill Angels, Hennessey Capital, Duke Energy, and
others. Solexel raised $14.8M, followed by Tigo Energy which raised
$13M from Alon Ventures. Scifiniti raised $10M from Alloy Ventures,
Firelake Capital Management, I2BF Global Ventures and Peninsula
Solar lease (third party finance) companies raised $1.33 billion (B)
in disclosed residential and commercial solar project funds this
Solar M&A activity in Q2 2013 amounted to $1.27B in 18 transactions.
Themes emerging out of this quarter's M&A activity included:
consolidation in the inverter market, strategic acquisitions, and
acquisitions of distressed assets/companies. The largest disclosed
M&A transaction by dollar amount in Q2 2013 was ABB's acquisition of
inverter company, Power-One, for approximately $1B.
Announced large-scale project funding in Q2 2013 came in at $2.94B.
Solar Star Funding, the wholly owned subsidiary of Warren Buffet's
MidAmerican Energy, completed a $1B bond offering this quarter, the
largest solar bond financing deal to date.
There were more than 670 MW of disclosed projects that changed hands
in Q2 2013.
Loans, credit facilities and other types of debt agreements from
Chinese banks now stand at about $53B.
Mercom delivers market intelligence and funding an M&A reports
covering Solar, Wind and Smart Grid and advises companies on new
market entry, custom market intelligence and strategic
decision-making. Mercom's communications division helps companies and
financial institutions build powerful relationships with media,
analysts, local communities, and strategic partners. About Mercom:
http://www.mercomcapital.com. Mercom's clean energy reports:
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Mercom Capital Group, llc
SOURCE: Mercom Capital Group, llc