Published on October 20th, 2014 | by Joshua S Hill1
Global Clean Energy Investment Grows 11%
October 20th, 2014 by Joshua S Hill
According to the Clean Energy Pipeline, global clean energy investment jumped 11% in the third quarter of 2014 over figures a year earlier, clearing $64 billion.
The third quarter figures represent a 3% decrease on Q2’14 numbers, but are still healthy growth over a year earlier. Specifically, project financing totalled $41.8 billion in Q3’14, reaching a seven-quarter high.
“Despite a marginal quarterly decrease in clean energy investment in 3Q14, it is increasingly likely that new investment levels in 2014 will surpass 2013,” said Douglas Lloyd, chief executive of Clean Energy Pipeline, in a statement. “This is welcome news for the industry following annual declines in investment in both 2012 and 2013.”
According to BusinessGreen, the latest report from Clean Energy Pipeline is “slightly more bullish” than a previous analysis from Bloomberg New Energy Finance, which only recorded $55 billion over the same period.
The Clean Energy Pipeline highlighted several markets contributing to the third quarter’s growth, including the stereotypical inclusion of China and Japan, underpinning a 15% quarterly growth in Asian investment, jumping to $14.6 billion.
Chinese investment in solar projects totalled $5.4 billion, while Japanese renewable investment reached a record $1.8 billion.
Other notable project debt finance deals in 3Q14 include the UK Green Investment Bank and Marubeni’s $623 million refinancing of their 50% stake in the 210 MW Westermost Rough offshore wind farm in the UK, and the $481 million debt tranche arranged for Covanta’s 58 MW energy-from-waste facility in Dublin, Ireland.
Whether you rely on Bloomberg’s reporting or the slightly more optimistic reporting from Clean Energy Pipeline, the global clean energy investment sector is definitely finding its feet again. The real difficulty will be sustaining this growth and healthy investment in the face of political uncertainty and trade investigations.
Follow CleanTechnica on Google News.
It will make you happy & help you live in peace for the rest of your life.