Global solar corporate funding rises 45% to $25.1 billion

Global solar corporate funding totaled $25.1 billion in the first nine months of 2026, a 45% increase over the $17.3 billion recorded in the same period of 2025, according to the Mercom Capital Group report published on October 27. The amount was spread across 172 transactions, compared with 127 a year earlier.

The momentum came from debt financing: $20.4 billion across 80 deals, 61% more than the $12.7 billion in 2025, according to pv magazine Latam. Public markets contributed $2.7 billion across 32 transactions, while venture capital fell 31% to $2 billion across 60 transactions. Debt accounted for roughly eight of every ten dollars raised. For Mexico the figure matters because its solar portfolio competes for that same international capital with projects in Brazil, Chile and the United States. The report measures capital raised by companies in the sector, not installed capacity, so the flow signals investment decisions rather than megawatts in operation.

Merger and acquisition activity also rose: 88 corporate transactions compared with 76 a year earlier, and 205 project acquisitions totaling 34.4 GW, against 166 deals and 29 GW in 2025. In the third quarter, developers and independent power producers accounted for 6.7 GW of those purchases, while investment firms acquired 1.2 GW. Among the notable deals was Inox Solar Americas' acquisition of Boviet Solar for $750 million. Mercom counted 60 venture capital transactions in the period, led by Inox Clean Energy ($343 million), Nexamp ($180 million) and Clean Max ($165 million). Raj Prabhu, Mercom's chief executive officer, attributed the increase to debt financing and noted that capital remained available, with uneven access, amid changes in U.S. tax policy and trade restrictions.

Mercom's next report, covering the close of 2026, will show whether debt financing sustains the annual pace. For the Mexican solar portfolio, the signal to watch is the cost and availability of that international financing.

This article was drafted with artificial intelligence assistance from verified sources and reviewed by a human editor before publication.