After a strong investment round in the first quarter of 2011 for solar firms that included a US$201 million funding round for BrightSource Energy and a US$106 million round investment in Miasole alone, new figures from Cleantech Group regarding second quarter funding for solar firms is significantly down, quarter-on-quarter.
The first quarter investments in solar firms reached US$641 million in 26 deals in Q1, 2011, however investments totaled US$363 million in 27 deals in 2Q, 2011. The top clean technology sector for venture investment in 2010 was solar, which accounted for 24% or US$1.83 billion) of the total last year.
Key funding reported in 2Q included Suniva, which raised US$94.4 million from Warburg Pincus and New Enterprise Associates. UK-based microinverter firm raised US$41.3 million from Wellington Partners Venture Capital, Good Energies, Climate Change Capital and BankInvest New Energy Solutions (NES Partners). The quarter was rounded of with Royal Tech Solar, a China-based manufacturer of concentration and tracking devices for solar PV and thermal power systems, which raised US$35.7 million from Tripod Capital.
Overall clean technology venture investments in North America, Europe, China and India, totalled US$1.83 billion across 161 deals in 2Q, according to Cleantech Group.