Friday 16 October 2015

Investment in renewables up 7%

Investment in renewables up 7%

Investment in renewable energy rose by 7% in the third quarter (Q3) of this year.

That’s according to Clean Energy Pipeline, a data service dedicated to the green energy sector, which said investment totalled $75.4 billion (£49.01bn) during the same period.

It believes the funding will surpass the $286 billion (£185.9bn) recorded in 2014.

Finance in clean energy projects totalled $53.4 billion (£34.7bn), a 21% increase in Q3 driven by a 51% increase in the Asia-Pacific region. It saw a record volume of $24.1 billion (£15.6bn) of investment.

On the other hand, project finance in Europe fell 38% annually to $9.1 billion (£5.9bn), a three-year low, the report added.

That was caused by a slump in the number of projects financed. Only 93 renewable energy projects in Europe secured financing, it stated.

Arond 23.4GW of renewable energy capacity was acquired in Q3, a record high, according to Clean Energy Pipeline.

Thomas Sturge, Head of Research at Clean Energy Pipeline said: "The most striking feature of last quarter’s investment figures was the sharp decrease in European project finance. This should not come as a surprise. There is still plenty of appetite to invest in renewables but swingeing subsidy cuts in some of Europe’s major markets during the last three years have significantly reduced deal flow."

Written by

Bruna Pinhoni

Trending Articles