Global solar sector attracts $7.5-billion corporate funding in March quarter: Mercom

Corporate funding in the global solar sector, including India, saw a quarter-on-quarter growth of 51 per cent to $7.5 billion in the March quarter, according to global clean energy consulting firm, Mercom Capital Group

Robust demand for solar assets is the reason for financing activity, said the report. According to Mercom, corporate funding includes venture capital and private equity, debt financing, and public market financing.

The total worldwide corporate funding in the solar sector in the January-March 2022 period was up 51 per cent from $5 billion raised in 2021 December quarter. However, the funding was lower by 7 per cent on a year-on-year basis. “Although financing activity was strong quarter-on-quarter with robust demand for solar assets, significant headwinds are building up that can slow the momentum considerably. Continuing supply chain issues, higher inflation, and the interest rate trajectory going forward are already major concerns,” said Mercom Capital Group CEO Raj Prabhu.

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