Indian solar industry attracted $10 billion financing in 2017, more than double from $4 billion in 2016, as projects gathered steam on the back of Narendra Modi government’s push to create 100 GW (giga watt) solar power capacity by 2022.
According to latest data from green energy market tracker Mercom Capital, Indian solar companies received $800 million in venture capital and private equity investments, which accounts for half of such investments globally and indicates the traction of India’s solar policy among global investors.
In terms of total funding, Indian solar companies raised $3.6 billion through venture capitals, private equity funds, public market and debt in 2017. This accounts for 28% of such fundings globally.
Project financing alone rose to about $6.4 billion on the back of nearly 10 GW of solar installations coming along as compared to $3.5 billion financing activity with installation of 4 GW of solar capacity in 2016. Read More