<p><strong>Simar Singh</strong><br><br>The corporate funding in the solar sector for the third quarter of 2015 is estimated at $6.2 billion, marginally higher than the previous quarter’s $5.9 billion, according to a report released by Austin-based clean energy communications and consulting firm, Mercom Capital Group.<br><br>The estimation includes venture capital, debt financing and public market financing raised by public companies.<br><br>Mercom’s CEO, Raj Prabhu, commented, “The third quarter of 2015 has been eventful, especially in the equity markets. Although solar power demand continues to grow, solar stocks have made a complete U-turn in the last three months, affecting public market financing, which was down by about a billion dollars excluding IPOs.”<br><br>Private Equity funding, in particular, saw a leap with $257 million raised over 15 deals in the third quarter. This figure is nearly double the $142 million raised over 24 deals in the last quarter.<br><br>The biggest venture capital deal was the $105 million raised by California-based Silicor Materials, a manufacturer of high-quality solar silicon and aluminum by-products.<br><br>The report states that public market financing fell to $1.8 billion compared to last quarter’s $2.3 billion while debt financing saw an uptick this quarter with about $4.1 billion, compared to previous$3.4 billion.<br><br>Debt financing activities were dominated by Chinese companies, raising more than $2.9 billion against the second quarter’s $1.4 billion.<br><br>Indian companies which raised venture capital include Fourth Partner Energy, a Hyderabad-based company providing solar design, engineering, installation, O&M services for rooftop solar PV systems which raised $2 million in Series A funding led by Infuse Ventures.<br><br>Given the nascency of the solar market in India, it is no surprise that none of the big deals have happened in the country and that those which have happened are comparatively small. However, what is apparent is that the market in India is picking up, perhaps driven by the Modi administration’s policy to promote greener energy avenues and greater interest in such options.</p>
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