Overall 2015 Was a Good Year for Solar Sector attracted Rs. 1.77 Lakh Cr Funds

Solar sector globally attracted corporate funding worth $25.3 billion (nearly Rs 1.70 lakh crore) in 2015 against that of $26.5 billion (nearly Rs 1.77 lakh crore) in 2014, explains a report.

"Total global corporate funding in the solar sector, including venture capital/private equity (VC), debt financing, and public market financing, raised by public companies came to $25.3 billion (nearly Rs 1.70 lakh crore), compared to $26.5 billion (nearly Rs 1.77 lakh crore) in 2014," according to a report by clean energy communications and consulting firm Mercom Capital Group.

Mercom Capital Group Chief Executive Officer Raj Prabhu said that the solar market took a good lift considering the turbulence in the stock markets and trouble with yield cost in the second half of the year.

The extension of the Investment Tax Credit (ITC) was a much-needed boost for the sector, paving the way for strong 2016."

Global VC investments came to $1.1 billion (nearly Rs 7,360.1 crore) in 83 deals in 2015, compared to $1.3 billion (nearly Rs 8,698.3 crore) in 85 deals in 2014, the statement said.