Indian solar companies raise $4.2bn through September of 2017
Indian solar firms raised $4.2bn between January and September this year, according to consultancy Mercom Capital Group. The corporate funding was equivalent to almost 34% of the worldwide total thanks to "robust" financing activity, it said. The investment included venture capital, private equity, public market and debt financing and was more than double the $2bn raised during the same period in 2016.
Indian solar companies managed to raise USD 4.2 billion (EUR 3.6bn) in financing in the first three quarters of 2017, including venture capital/private equity (VC/PE), debt financing, and public market financing.

The total was calculated by consultancy Mercom Capital Group and compares to USD 2 billion raised in the same period of 2016. The nine-month corporate funding secured by solar firms in India was equal to almost 34% of the global total on the back of “robust” financing activity. Meanwhile, Indian companies contributed 60% of the global VC and PE funding in the solar sector.

The top VC deal was a USD-100-million capital injection secured by Indian rooftop solar developer CleanMax Solar from New York-based buyout firm Warburg Pincus. The list of the biggest deals in the past months is available at https://mercomindia.com/financing-activity-indian-solar-sector/.

Mercom said there was nearly 7 GW of solar power capacity in India as of the end of September.

(USD 1.0 = EUR 0.857)

(INR 10 = USD 0.153/EUR 0.131)

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