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Corporate funding in global solar sector falls 13% to USD 24.1 billion in 2022: Report

Corporate funding in global solar sector falls 13% to USD 24.1 billion in 2022: Report

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Corporate funding in global solar sector falls 13% to USD 24.1 billion in 2022: Report

Corporate funding in the global solar sector declined 13 per cent year-on-year to USD 24.1 billion in 2022, according to a Mercom Capital report.



Corporate funding includes venture capital and private equity (VC and PE), debt financing, and public market financing. “Total corporate funding in 2022 (first nine months) stood at USD 24.1 billion, 13 per cent lower compared to USD 27.8 billion raised in 2021,” the global clean energy consulting firm said in its report. During 2022, VC funding activity rose 56 per cent to USD 7 billion compared to USD 4.5 billion in 2021.


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In India, solar module manufacturer Waaree Energies raised USD 122.6 million from high net-worth individuals and private offices, and solar startup SolarSquare raised USD 12 million in Series A funding led by Elevation Capital and Lowercarbon, Chris Sacca’s climate-tech fund. In 2022, debt financing was at USD 12 billion, a 24 per cent decline compared to USD 15.8 billion raised during 2021. In the domestic industry, Orb Energy received a USD 20 million follow-on loan from the US International Development Finance Corporation to support its ground-mounted solar customers in India.

Global public market financing in 2022 totalled USD 5.1 billion, 32 per cent lower than USD 7.5 billion in 2021. A total of 128 mergers and acquisitions (M&A) transactions were recorded in 2022. “The war in Ukraine has accelerated demand for solar around the world and the Inflation Reduction Act has boosted the sector in the US. In 2022, we saw record venture capital and private equity funding, solar companies were acquired in record numbers and solar projects saw their second best year for acquisitions,” Raj Prabhu, CEO of Mercom Capital Group said.


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  1. Pingback: India targeting global arena with high value pharma, med-tech products: Mandaviya

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