In the first quarter of 2023, Mercom Capital Group, a worldwide clean energy communications and consulting organization, released its report on funding and merger and acquisition activities in the global solar sector.Total corporate investing into the solar business (including venture capital, public market, and debt financing) totaled $8.4 billion in 42 deals in Q1 2023, a 55% increase from $5.4 billion raised in 44 deals in Q4 2022.
Funding grew 11% year on year (YoY) in Q1 2022.Silicon Ranch received $375 million in venture capital funding in the first quarter of 2023. With $1.4 billion in 10 deals, solar downstream companies received 64% of the $2.1 billion in VC capital raised in 18 deals.
In Q1 2023, public market financing in the solar sector totaled $2.3 billion in seven transactions, an increase of 1,183% from $181 million in five transactions in Q4 2022.
Debt financing announced in Q1 2023 totaled $3.9 billion, compared to $3.7 billion in Q4 2022.In Q1 2023, there were 27 solar M&A transactions, compared to 38 in Q4 2022.In Q1 2023, about 12 GW of solar projects were acquired, compared to 14 GW in Q4 2022.
Mercom Capital Group is a global renewable energy communications and consultancy organization. Mercom publishes finance and market intelligence studies on solar, battery storage, and smart grid technologies. Mercom counsels cleantech firms on market entry, unique market intelligence, and strategic decision-making.
