5 largest solar VC deals so far in 2021

utility scale solar pv
Entergy Mississippi plans to increase its mix of renewables from less than 1% currently to nearly one-third by 2027.

Corporate funding of the solar industry -- including venture capital, public market, and debt financing -- increased 190% globally through the third quarter of 2021, according to new analysis by Mercom Capital Group.

The report details 112 deals worth $22.8 billion in total corporate funding in the first nine months of 2021. There were 72 deals worth $7.9 billion over the same period last year.

Read more: How states can collaborate on offshore wind to meet ambitious goals in the U.S.

"This will end up as one of the best years for solar financing since 2010," said Mercom Capital Group CEO Raj Prabhu. "As the push toward the energy transition picks up speed worldwide, solar – one of the mature renewable energy resources – is benefitting enormously. Solar project acquisitions in the first nine months of 2021 have already surpassed all of 2020."

Global VC funding of solar decreased slightly in Q3, but is up 224% year-over-year with $593 million across 13 deals.

5 largest solar VC deals through Q3 2021

5. Fourth Partner Energy $125 million

4. Intersect Power $127 million

3. Nexamp $240 million

2. Aurora Solar $250 million

1. Loanpal $800 million

Public market financing of the solar sector also increased through the first nine months of 2021: $6.3 billion across 23 deals compared to $2 billion in 10 deals over the same period last year. There were seven IPO and SPAC deals announced in 9M 2021, according to Mercom.

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John Engel is the Content Director for Renewable Energy World. For the past decade, John has worked as a journalist across various mediums -- print, digital, radio, and television -- covering sports, news, and politics. He lives in Asheville, North Carolina with his wife, Malia. Have a story idea or a pitch for Renewable Energy World? Email John at john.engel@clarionevents.com.

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