The global solar sector has witnessed total corporate funding of USD 27.8 billion in 2021, the highest in the last 10 years, according to Mercom Capital Group.
Corporate funding includes venture capital and private equity (VC), debt financing, and public market financing.
In its latest report, the global clean energy consulting firm said the total worldwide corporate funding in the solar sector in January-December 2021 soared to USD 27.8 billion compared to USD 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, he added.