PRZOOM - /newswire/ -
Austin, TX, United States, 2010/04/12 - Mercom Capital Group releases M&A and funding activity on the solar energy sector for the first quarter of 2010. Total solar investment come to $1.7 billion and merger and acquisition (M&A) transactions in the first quarter totaled $784 million.
Mercom Capital Group, LLC, a clean energy communications and consulting firm, today released M&A, funding, financing and loan activity in the solar energy sector for the first quarter of 2010. Disclosed investments in the sector totaled $1.7 billion out of 30 transactions. Solar merger and acquisition (M&A) transactions in the first quarter totaled $784 million in six disclosed deals out of a total of 10 deals.
Forms of investment included venture capital (VC) funding, financing and loans, with VC investments coming in at $298 million in 18 deals and all other financing and loans totaling $1.4 billion in 12 deals. Significant investments in solar include a $760 million project financing for Torresol Energy, a $250 million credit facility for MEMC and a $120 million debt and equity financing for Atlantic Wind and Solar, Inc.
According to the Department of Energy (DOE) just $3.1 billion, representing only 12% of awarded funds, has actually been spent as of April 2, 2010. DOE has awarded a total of $26.7 billion so far. Out of $3.1 billion, a total of $1.4 billion was spent in the first quarter of 2010.
Raj Prabhu, Managing Partner of Mercom Capital Group, commented, “Mercom has expanded its reporting beyond venture capital transactions to include other types of financing and M&A transactions. This gives the industry a truer picture of what is happening in finance and M&A as it relates to solar.”
About Mercom Capital Group
Mercom Capital Group, LLC (mercomcapital.com) is a clean energy communications and consulting firm. At Mercom, we help clean energy companies build powerful relationships with media, analysts, government decision-makers and local communities. We arm our clients with timely market intelligence to ensure their competitive position and overall success. Mercom Capital Group is located in Austin Texas with offices in Bangalore India.