Corporate funding in solar sector up 21% at $8.1 b in Q1 2021: Mercom Capital
April 19, 2021
This the result of higher debt and public market financing activity in the quarter
Total corporate funding, including venture capital funding, public market, and debt financing, in the solar sector in Q1 2021, added up to to $8.1 billion in 36 deals, a 21 per cent increase compared to $6.7 billion raised in 43 deals in Q4 2020.
The increase in corporate funding was primarily due to higher debt and public market financing activity in the first quarter of 2021, according to a Mercom Capital report.
“Financing activity in the solar sector started strong in 2021 with Q1 numbers up substantially year-over-year. Even though solar stocks lost some of their spark in the first quarter after an unprecedented run in 2020, a big IPO and record securitisation activity lifted overall fund-raising totals. Solar assets continue to be in great demand with almost 15 GW of projects acquired in Q1,” sa
Indian solar project secures USD 165 million green loan
Published by: Sandy Bhadare at 04 Feb 2021 EDEN Renewables India has achieved financial close of a 450-Megawatt peak solar photovoltaic project curr.
EDEN Renewables India has achieved financial close of a 450-Megawatt peak solar photovoltaic project currently under construction in Rajasthan, Northern India.
EDEN Renewables India is the product of a 50:50 joint venture between EDF Renewables, a wholly owned subsidiary of the French utility EDF Group, and independent power producer Total Eren.
Awarded the solar project following a tender launched by the Solar Energy Corporation of India (SECI), EDEN then signed a power purchase agreement with the SECI in June 2019.
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Total Eren and EDF Renouvelables, two world leaders in renewable energy, have annoucned that EDEN Renewables India (EDEN), the companies’ equally owned joint venture dedicated to large-scale Indian solar photovoltaic (PV) projects, has successfully secured financial close for its 450 MWp SECI III solar PV project, with a group of three major international banks.
The SECI III project has been successfully financed through a green limited recourse project term loan of US$165 million, which has been provided by DBS Bank Ltd, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation (Singapore Branch).
For this transaction, EDEN was advised by Herbert Smith Freehills and L&L Partners Law Offices as legal advisors, and Chatham Financial Europe as hedge benchmark advisor.