The global solar sector witnessed a total corporate funding and merger and acquisitions activity worth USD 9.7 billion in 2018, a 24 per cent drop compared to the year-ago period, according to a report.
Mercom Capital Group said the total M&A and global corporate fundings, including venture capital (VC), debt financing and public market financing stood at USD 9.7 billion, a 24 per cent drop compared with the USD 12.8 billion raised in 2017.
Global VC funding for the solar sector in 2018 fell 18 per cent to USD 1.3 billion in 65 deals, compared with USD 1.6 billion raised in 99 deals in 2017, the report said.
Commenting on decline in funding, Mercom Capital Group Chief Executive Officer Raj Prabhu said: "2018 was a year filled with uncertainties which started with Section 201 tariffs followed by an announcement from China that it was capping installations and reducing its feed-in-tariff."
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