Mercom Capital Group has released its second quarter 2010 results for its merger and acquisitions and funding activity for the solar sector of the company along with the result for its smart grid and wind divisions. Total disclosed investments for the solar segment was reported at $13.8 billion for 34 transactions, the numbers influenced by the $11.7 million loans issued by Suntech and Trina Solar by the Chinese Development Bank. First quarter investments totaled 30 transactions for $1.7 billion.
“In addition to tracking VC funding activity, Mercom is also paying close attention to project financing. While VC funding can be indicative of the health of the technology side of clean energy, project financing activity can indicate the health of the end markets. In the second quarter, we saw a lot of project financing and loans, giving us confidence that projects are getting funded, which was a big concern coming out of the recession. We also saw a lot more activity in both funding and M&A for Smart Grid,” commented Raj Prabhu, managing partner of Mercom Capital Group.
The second quarter also saw Mercom report on a $175 million private placement received by Solyndra, a Series D raise by BrightSource Energy for $150 million, Series B raise of $129.4 million by Amonix and a debt and equity raise by Solar Power Partners for $115 million. AES Solar also provided project financing of $128 million and a credit facility was secured by SunPower for $350 million.