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Renewable Planet: Energy Deals Outside The United States

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India has an 8% global share in renewables! It has made rapid progress in this sphere

February 28, 2017 [h=1]Renewable Planet: Energy Deals Outside The United States[/h]
India has emerged as the leading country for renewable deals outside the United States since 2015.

While deals to renewable energy startups have fluctuated over the years, the push for these technologies has become global, with the share of deals outside the United States reaching 41% in 2016, compared to 34% in 2015, and less than 30% in the years prior.
We analyzed equity deals since 2015 to renewable energy companies outside the US. Thirty countries have seen equity funding to a private renewable energy startup in that time frame. Below, we mapped those countries by distribution of type of renewable energy deal.
Our analysis includes residential, commercial, and utility-scale renewable projects, as well as renewable-powered consumer products. It includes only equity deals and convertible notes, and excludes debt.
Renewable Energy & The Rise Of Solar Webinar

We'll analyze investment trends into renewable energy startups and dive deep into the solar landscape. We will also look at corporate interest in grid energy storage as well as the renewable energy patent application activities of GM, IBM, LG, Panasonic, and others.

Key takeaways:
Asia: Since 2015, India has emerged as the leading country for renewable deals outside the US, accounting for nearly 8% of global deal share. India received 21 deals to solar and wind companies, and 2 deals in bio-energy. More recently, ReNew Power received $200M from Japan-based JERA. The country now operates the world’s largest solar power plant.
Solar deals dominated in the rest of Asia, including Saudi Arabia, Taiwan, and Japan. Additionally, Singapore raised funds for ocean/hydro, Thailand raised funds for wind, and Israel raised funds for wind, ocean/hydro energy, and solar.
Africa: Solar deals went to countries like Tanzania, Kenya, and Nigeria, mainly for off-grid solar solutions that allow small businesses and families to generate electricity without connecting to a regional utility provider. Tanzania-based Off-Grid Electric raised $25M in Series C in Q4’15 and an additional $10M in Series D in Q3’16. M-KOPA Solar in Kenya raised 3 deals since 2015, amounting to over $29M in equity funds.
Europe: The UK and Germany dominated in Europe, receiving 4.6% of global deal share each. UK-based wind energy company Lekela Power raised $250M from the Overseas Private Investment Corporation in Q3’16. The top round in Germany was an $85M Series D round raised by energy storage startup Sonnen, from investors including GE Ventures and Envision Energy.
Companies in France raised deals mainly in in the solar and wind sector, with the exception of Glowee, a seed-stage synthetic biology startup using bioluminescence in bacteria for lighting solutions. Glowee, which falls into our “other” category, is not categorized on our map.
North America: Canada received over 3% of global deal share to startups working on a mix of renewable energy solutions, including ocean/hydro, solar, wind, and fuel cell technologies. To name a few, Black Rock Tidal Power raised an $8M growth equity round in Q4’15 from Envirotek and Inerjys Ventures. Bio-energy startup Enerkem raised $38M in a Series F round in Q3’15 from investors including Cycle Capital, Rho Ventures, and Braemar Energy Ventures. Morgan Solar raised $10M in Series C from ArcTern Ventures.
Additionally, Mexico raised 3 solar deals during this period.
South America: Japan-based trading company Sumitomo took a minority stake inBrazil-based sugar and ethanol manufacturer Cosan Biomassa. The two companies joined forces for a bio-fuel venture catering to the European and Asian energy markets.
Australia: Startups Redback Technologies and Evergen raised funds for intelligent energy monitoring and storage solutions. Both are seed-stage companies, with backing from investors like Energy Australia, CSIRO, and AMP Capital Investors.
The table below highlights 92 companies outside the United States that have raised equity funds since 2015.

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