From January to September, the total financing of global solar energy companies reached 22.8 billion US dollars, an increase of 190% year-on-year

From January to September 2021, global solar companies raised US$22.
8 billion, with an increase in financing activities across the board, including venture capital, public market and debt financing, up 190%
year-on-year.

In the third quarter of 2021, total solar corporate financing reached $9.
3 billion in 41 transactions, up 72%
from $5.
4 billion raised from 35 transactions in the second quarter of 2021.

Raj Prabhu, CEO of Mercom Capital, said, "Investment activity across the solar industry continues to be strong compared to 2020 (impacted by COVID-19), which will be one of
the best years for solar financing since 2010.
”

In the third quarter of this year, venture capital investment for solar companies reached $593 million in 13 transactions, down 2% sequentially and up 224%
year-over-year.
In the first three quarters, venture capital investment in solar companies reached $2.
2 billion, 466%
higher than last year's $394 million.

Among them, the top five venture capital deals are: Loanpal raised $800 million; Aurora Solar raised $250 million, Nexamp raised $240 million, Intersect Power raised $127 million and Fourth Partner Energy raised $125 million
.

In the third quarter of 2021, public market financing for solar companies reached $2.
7 billion, up 197% sequentially and 106%
year-over-year.
From January to September this year, the cumulative amount of public market financing reached US$6.
3 billion, an increase of 209%
year-on-year.
Among them, there were 7 IPOs and SPACs, raising a total of US$4.
4 billion
.

In the third quarter of 2021, total debt financing for solar companies was $6.
0 billion, up 54% sequentially and 242%
year-over-year.
Record securitization activity was a key factor
in the increase in debt financing activity from January to September 2021.

There were 29 solar M&A deals in Q3 2021, compared to 34 M&A deals
in Q2 2021.
?? This compares to 17 transactions
in the third quarter of 2020.
There were 83 M&A transactions from January to September 2021, compared to 42 in the same period last year
.

In the first three quarters, the largest M&A deal was Adani Green Energy's agreement to acquire a 100% stake
in SB Energy India from SoftBank Group (80%) and Barty Group (20%).
The transaction values SB Energy India's business at approximately $3.
5 billion.

From January to September 2021, large-scale solar project acquisition activity increased by 129%, with the acquisition of 55.
5 GW of solar projects, and a total of 15.
8 GW of solar projects
acquired in the third quarter of 2021.

Project developers were the most active solar project acquirers in the first three quarters of the year, followed by oil and gas specialists, investment firms and utilities
.