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Cleantech Venture Capital, Financing and IPOs Heating Up

It’s beginning to look a lot like Christmas for a number of cleantech companies in solar and smart grid, as the project finance, venture capital and IPO markets continue their winter thaw. News of new deals has capped off what has been a pretty good PR month for the cleantech industry.

Last week Silver Spring Networks announced a $100 million round of financing, which was a surprise if only because the company was the hottest IPO candidate of any mentioned at the GreenBeat conference in November. Driving the round? Maybe reports that the smart grid market will double in size by 2014.

So who is going public? Solyndra, the CIGS thin-film manufacturer and DOE loan guarantee recipient. The company is looking to raise $300 million in a public offering to take place sometime in 2010.

SunRun, a residential PPA provider, also received $90 million more in backing from Bancorp to help finance residential solar installations. SunRun has been very successful in markets like California, Massachusetts and Arizona.

Finally, First Solar announced the completion and sale of a utility-scale plant in California. The new plant will power 17,000 homes and as VentureBeat reports, is likely a harbringer of more utility-scale plants in the near future.

These are all good signs for the solar industry as more experts predict growth in number of US projects and shrinking solar supplies in 2010. All told, outside of the weak international agreement from Copenhagen, it has been a pretty good December for Cleantech.

 

 

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Jason Morris

Jason Morris

Executive Vice President at MSLGROUP

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