Greentech Media: Solar VC funding falls in Q2 2009

Facebook
Twitter
LinkedIn
Reddit
Email

Although there was a mild rebound in cleantech venture capital investments in the second quarter of 2009, reaching US$1.2 billion in 85 deals, compared to US$836 million in 59 deals in the previous quarter, the latest quarterly report from Greentech Media shows that VC funding in the solar sector has declined for the fourth successive quarter in a row. VC investment in solar was US$333.4 million in 17 deals, down from US$836.1 million invested in Q109 from 14 separate deals, approximately a 60% fall in funding.

Even taking into consideration a series of high profile major VC rounds for solar start-ups in previous quarters, the Q209 investments are approximately 25% below the same quarter in 2008.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

However, GreenTech Media noted that solar related investments still led the cleantech investment sectors in the quarter. Overall, VC investments were spread more evenly across the segments in the quarter.
 
“Despite the economic slump, VC investors remain optimistic about the greentech sector and eventual exits in this space,” said Eric Wesoff, senior analyst at GTM Research and author of the Greentech Innovations Report. “2009 will be a year of consolidation and development while 2010 and 2011 will be the year greentech breaks. Expect to see IPOs and acquisitions of VC funded firms in solar, smart grid, green buildings and biofuels.”

 

Read Next

May 24, 2024
Singapore-headquartered solar manufacturer Maxeon has failed to sue fellow manufacturer Aiko Solar over alleged solar technology patent infringement.
May 24, 2024
Solar project developer Recurrent Energy has secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio.
May 24, 2024
Ørsted has closed a US$680 million tax equity financing with JP Morgan for a solar project, alongside a solar-plus-storage project.
May 24, 2024
US power distribution company Entergy Louisiana has received approval from the Louisiana Public Service Commission (LPSC) to add up to 3GW of solar PV.
May 24, 2024
Waaree Energies has signed an agreement to supply 445MW of modules to Statkraft India for a project in Bikaner, Rajasthan.
May 24, 2024
Indian solar installations increased by over 400% in the first quarter of 2024 to the highest quarterly deployment levels in its history.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece