2023 solar company financing reached the highest level in 10 years--Seetao

According to Mercom Capital Group's latest report on financing and mergers and acquisitions (M&A) activity in the solar industry, solar companies raised $34.3 billion in corporate financing last year, the largest amount in a decade. The total amount raised came from 160 deals, an increase of 42% compared to 2022 (175 deals raised a total of $24.1 billion). Last year, funding from private markets reached $7.4 billion, up 45 percent from the previous year and the second-highest figure since 2013. At the same time, solar companies raised $20 billion in debt financing, up 67 percent from last year and the highest level in the past decade. Mercom Capital Group said securitization activity was the main contributor to the financing, raising a total of $3.4 billion from 11 deals. Funding from solar venture capital activity fell 1% from last year, with 69 deals raising $6.9 billion in 2023. Of this, $4.7 billion (68%) went to 42 downstream solar companies. In addition, solar companies raised $1.9 billion, systems companies raised $311 million, and service providers raised $32 million. Editor/Xu Shengpeng

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