AUSTIN, TX — (Marketwire) — 10/11/11 — , llc, a global and consulting firm, today released funding and merger and acquisition () activity for the solar sector for the third quarter of 2011.
For a complete list of Q3 2011 transactions in the solar sector, visit
(VC) funding in the solar sector was steady this quarter, coming in at $372 million, compared to $354 million in Q2 2011. Forty-two different investors participated in 29 disclosed deals.
“VC funding so far this year is on pace with 2010 and M&A activity is picking up,” commented Raj Prabhu, Managing Partner at Mercom Capital Group. “The number of M&A transactions in 2011 has already surpassed 2010 numbers, signaling that the move towards industry consolidation may have begun.”
The top five funding deals included an $85 million raise by HelioVolt, a manufacturer of thin-film Copper Indium Gallium Selenide () modules; OneRoof Energy, a developer, owner and operator of systems for residential markets raised $50 million in Series A; Calisolar, a vertically integrated , raised $26 million; Clean Power Finance, a provider of integrated services and financing solutions for the solar industry, raised $25 million and Solexant, a producer of ultra , raised $23.5 million in a Series D round.
Solar downstream companies attracted the most funding this quarter closely followed by thin-film companies, with $130 million in 11 deals and $125 million in five deals respectively.
M&A activity came in at $563 million in 20 transactions with details disclosed for only eight. This is the highest number of transactions in a quarter since 2010. The most prominent transactions included the acquisitions of Solar Silicon Valley by JA Solar for $180 million and Fotowatio Renewable Ventures by MEMC for $131 million.
Debt funding in Q3 2011 amounted to $452 million in five announced deals. The top deals involved Chinese companies including China Sunergy, Daqo New Energy and Hanwha SolarOne.
Mercom Capital Group is a global clean energy communications and consulting firm with offices in the US and India. Mercom–s consulting division advises clean energy companies on new market entry, custom and overall strategic decision-making. Mercom delivers highly respected industry market intelligence reports covering Solar Energy, Energy and . Our reports provide timely industry happenings and ahead-of-the-curve analysis for decision makers. Mercom–s communications division helps clean energy companies build powerful relationships with media, analysts, government decision-makers, local communities and strategic partners. For more information about Mercom Capital Group, visit: . To get a copy of Mercom–s popular market intelligence reports, visit: .
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