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New clean energy investment rises by 12% in 2014
The year 2014 marked the first time that total clean energy investment increased from the previous year since 2011 – rising 12% in 2014 to reach $274bn.
The figures, from renewable investment news and data service provider Clean Energy Pipeline, combine data on venture capital, private equity, project finance, mergers and acquisitions and public markets activity. New investment in the global clean energy sector totalled $68bn in Q4 2014, a 4% increase on the corresponding quarter in 2013. The total 2014 investment of $274bn was the highest annual investment volume since 2011.
Looking specifically at project finance, investment was boosted at the end of the year by $47bn in Q4 – a 23% rise above the corresponding period in 2013. Over the year, large offshore wind deals triggered the largest increases.
There were a number of billion dollar utility investments in European offshore wind farms. Iberdrola commenced construction of the 350 MW Wikinger offshore wind farm representing an investment of $1.7bn; Vattenfall and Stadtwerke München started work on the 288 MW Sandbank offshore wind farm representing a $1.5bn investment; and DONG Energy started construction of the 258 MW extension of the existing 90 MW Burbo Bank offshore wind farm.
Bloomberg New Energy Finance also reported the jump in investment, which it put at $300bn in 2014. Alongside the offshore wind investment, Bloomberg New Energy Finance cited a 32% expansion in China’s commitment to renewables to $90bn as a key factor in the upturn.
‘Healthy investment in clean energy may surprise some commentators, who have been predicting trouble for renewables as a result of the oil price collapse,’ said Michael Liebreich, Chairman of the Bloomberg New Energy Finance advisory board.
According to Bloomberg New Energy Finance solar made up almost half the clean investment in 2014, at $150bn, around 25% higher than in 2013. Most of the investment was in small distributed capacity which saw $74bn committed in 2014, up 34%.
News Item details
Journal title: Energy World
Organisation: Clean Energy Pipeline
Subjects: Banking, finance and investment, Renewables, Wind power
