Published on July 10th, 2014 | by Joshua S Hill2
Clean Energy Investment Reaches Highest Point Since 2012
July 10th, 2014 by Joshua S Hill
A new report from analysts Clean Energy Pipeline has shown that global clean energy investment totaled $66.2 billion in the second quarter of 2014, the highest total since the end of 2012.
“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,” commented Douglas Lloyd, CEO of Clean Energy Pipeline. “This is very positive news given that total clean energy investment posted annual year-on-year declines in both 2012 and 2013.”
The second quarter total is an 8% increase on the same period a year earlier, and includes a slight uptick on clean energy project financing from the first quarter of 2014.
Clean energy investment has been increasing steadily over the past year, returning to the high peaks of 2012 after a slight lull in 2013. New research from the International Renewable Energy Agency earlier this year showed that doubling investment figures would not only increase the benefit for the planet’s climate but also save money for countries.
Onshore wind investment took a bump during 2Q’14, the industry financing totaling $18 billion — a tidy increase on the first quarter of the year, $13.7 billion, and 2Q’13, $13.8 billion. Specifically, the 300 MW Aysha wind farm in Ethiopia secured $1.3 billion in loans from various banks and financial institutions, and the 252 MW Ventika wind farm in Mexico secured $650 million in financing both played a large part in the onshore wind industry’s investment growth.
There have been a number of stories over the past year showing growth in the clean energy industry, and many solar and wind companies yielding strong results during the first quarter of the year. With figures like this, 2014 could be another bumper year for the industry, but the second quarter figures from industry giants will definitely be a clear indicator of how 2014 is likely to finish overall.