VC investments in solar sector dips 40% to USD 600 mn in 2013

Global venture capital investments in the solar sector dropped 40 per cent to USD 600 million in 2013 compared to USD 992 million in the 2012, Mercom Capital Group said.

In terms of number of deals as well there has been a decline, as 2013 saw 97 VC transactions in the solar sector, while the year 2012 had seen 106 deals, the global clean energy communications and consulting firm said.

However, overall funding, encompassing VC, debt and public market financing was up 25 per cent in 2013 to almost USD 10 billion, compared to about USD 8 billion in 2012.

Commenting on the findings, Mercom Capital Group CEO Raj Prabhu said, “while venture funding levels were down, overall fundraising was up and public market financing were really strong in 2013.”

Higher valuations among public solar companies have opened up the capital markets again as an avenue for fundraising at attractive terms. IPOs are back, he added.

Meanwhile, the fourth quarter of 2013 saw VC funding worth USD 87 million by way of 24 deals, including two notable Indian transactions.

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