Global solar power funding down slightly at $25 bn in 2015
12 Jan 2016
The solar power sector globally attracted corporate funding worth $25.3 billion (Rs1.70 lakh crore) in 2015 against $26.5 billion (Rs1.77 lakh crore) in 2014, says a report.
"Total global corporate funding in the solar sector, including venture capital / private equity (VC), debt financing, and public market financing, raised by public companies came to $25.3 billion, compared to $26.5 billion in 2014," according to a report by clean energy communications and consulting firm Mercom Capital Group.
Mercom chief executive officer Raj Prabhu said that overall it was a good year for the solar power sector considering the turbulence in the stock markets and trouble with yield cost in the second half of the year.
''The extension of the Investment Tax Credit (ITC) was a much-needed boost for the sector, paving the way for strong 2016," he said.
Global venture capital investments came to $1.1 billion (Rs7,360.1 crore) in 83 deals in 2015, compared to $1.3 billion (Rs8,698.3 crore) in 85 deals in 2014, a statement from Mercom said.
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