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Mercom Capital Group, llc, a clean energy communications and consulting
firm, today released M&A, funding, financing and loan activity on
the solar, wind and smart grid sectors for the first quarter of 2010.
Solar
Disclosed investments in the solar sector totaled $1.7 billion out of 30
transactions. Solar merger and acquisition (M&A) transactions in
the first quarter totaled $784 million in six disclosed deals out of a
total of 10 deals.
Forms of investment included venture capital (VC) funding, financing and
loans, with VC investments coming in at $297.75 million in 18 deals and
all other financing and loans totaling $1.4 billion in 12 deals.
Significant investments in solar include a $760 million project
financing for Torresol Energy, a $250 million credit facility for MEMC
and a $120 million debt and equity financing for Atlantic Wind and
Solar, Inc.
 According
to the Department of Energy (DOE) just $3.1 billion, representing only
12% of awarded funds, has actually been spent as of April 2, 2010. DOE
has awarded a total of $26.7 billion so far. Out of $3.1 billion, a
total of $1.4 billion was spent in the first quarter of 2010.
Wind
Disclosed investments in the wind energy sector totaled approximately
$1.4 billion for 15 transactions. Wind merger and acquisition (M&A)
transactions in the first quarter came to $224 million in two disclosed
deals out of a total of seven deals.
Forms of investments included venture capital (VC) funding, financing
and loans. VC investments were $101.3 million for 3 deals and all other
financing and loans totaled $1.304 billion for 12 deals. Significant
investments in wind include a $394 million project financing for
Terra-Gen Power, $194 million project financing for Boralex Inc and a
$179 million project financing for Invenergy Wind North America.
Smart Grid
Disclosed investments in the smart grid sector totaled $112.13 million
for 15 transactions. Smart grid merger and acquisition (M&A)
transactions in the first quarter was $10 million in one disclosed deal
out of a total of seven deals.
Forms of investment included venture capital (VC) funding, financing and
loans, with VC investment coming in at $89.13 million in 12 deals and
other financing and loans totaling $23 million in three deals.
Significant investments in smart grid include a $31 million VC funding
for Cymbet and a $20 million revolving credit facility for Comverge.
Raj Prabhu, Managing Partner of Mercom Capital Group, commented, "Mercom
has expanded its reporting beyond venture capital transactions to
include other types of financing and M&A transactions. This gives
the industry a truer picture of what is happening in finance and M&A
as it relates to solar, wind and smart grid."
To download clean energy funding reports, visit: http: http://www.mercomcapital.com/cleanenergyreports.php
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