Solar Draws Top Investment Dollars in 2011
Solar Draws Top Investment Dollars in 2011
By Ucilia Wang, Contributor
January 5, 2012
SAN FRANCISCO -- Venture capital investors put solar on top as the sector that received the most dollars globally in 2011, but a lack of stellar initial public offerings means investors have to pump in more money while waiting for their companies to exit, said Sheeraj Haji, CEO of Cleantech Group, on Thursday.
Investments in solar totaled $1.81 billion in 111 deals in 2011, followed by energy efficiency with $1.46 billion in 150 deals and transportation with $1.12 billion in 61 deals, according to preliminary numbers from the Cleantech Group. Money that solar companies received accounted for about 20 percent of the overall venture capital raised worldwide in 2011, Haji said during a press conference to discuss venture capital investments for 2011.
Two themes have remained true for solar and overall venture capital investments throughout 2011: more money for later-stage deals and fewer attempts to go public.
The top three solar deals of the year went to BrightSource, which raised $201 million, Stion with $130 million, and MiaSole with $106 million. All three California companies already had raised multiple rounds before lining up more funding last year, and BrightSource is waiting to go public.
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