Solar corp funding in India grows to USD 4.2bn in Jan-Sep 2017

Indian solar companies managed to raise USD 4.2 billion (EUR 3.6bn) in financing in the first three quarters of 2017, including venture capital/private equity (VC/PE), debt financing, and public market financing.

The total was calculated by consultancy Mercom Capital Group and compares to USD 2 billion raised in the same period of 2016. The nine-month corporate funding secured by solar firms in India was equal to almost 34% of the global total on the back of “robust” financing activity. Meanwhile, Indian companies contributed 60% of the global VC and PE funding in the solar sector.

The top VC deal was a USD-100-million capital injection secured by Indian rooftop solar developer CleanMax Solar from New York-based buyout firm Warburg Pincus. The list of the biggest deals in the past months is available at https://mercomindia.com/financing-activity-indian-solar-sector/.

Mercom said there was nearly 7 GW of solar power capacity in India as of the end of September.

(USD 1.0 = EUR 0.857)

(INR 10 = USD 0.153/EUR 0.131)

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