Global clean energy investment rebounds in 2014

• 10 years ago (2014-07-12)
• Junior Isles

North America 1021 Renewables 776

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Investment in clean energy across the globe has rebounded and is once again growing strongly with new investment totalling $66.2 billion during Q2 2014, up 8 per cent year-on-year, according to analysis by Clean Energy Pipeline. This figure represents a five-quarter high for project financing after the relative slump during 2012 and 2013.

“It is perhaps a little early to make predictions but based on investment levels during the first six months of 2014, last year’s total looks like it will be eclipsed,” said Douglas Lloyd, CEO of Clean Energy Pipeline, in a statement.

“This is very positive news given that total clean energy investment posted annual year-on-year declines in both 2012 and 2013,” he continued.

Growth in the onshore wind industry, which totalled $18 billion, was a key driver of clean energy investment. Significant wind projects included the 300 MW, $1.3 billion Aysha wind farm in Ethiopia, the 252 MW, $650 million Ventika wind farm in Mexico, and several major offshore wind projects including the Netherlands’ $3.8 billion Gemini offshore wind farm.

The US residential solar sector also saw rapid growth, with SunRun, Sunnova and Sungevity raising $150 million, $145 million and $70 million, respectively during Q2.

Total US investment in renewable energy, including wind, solar, hydro, and geothermal, has now increased nearly 250 per cent since 2004, reaching $36.7 billion in 2013.