Amid growing clamour around the use of green technology as a power source, the funding in the global solar sector has swelled to $27.8 billion in 2021. According to the latest Mercom Capital Group Corporate report, this is the highest funding in the sector in the past 10 years. The funding also includes venture capital and private equity (VC), debt financing, and public market financing.
According to the global clean energy consulting firm, the total worldwide corporate funding in the solar sector in January-December 2021 soared to $27.8 billion compared to $14.5 billion raised in 2020. Corporate funding in 2021 was the highest in ten years.
Mercom Capital Group CEO Raj Prabhu said 2021 was the best year for solar corporate funding and mergers and acquisitions since 2010. Financing activity bounced back strongly, following a COVID-19-affected 2020.
“There was more money than ever chasing deals, and more demand than supply of attractive companies and assets as organisations and funds look to fulfil their ESG and clean energy mandates,” Prabhu added.