Global clean energy funds fall in Q1 as deals slow
Print Edition
GLOBAL clean energy investment in the first quarter of this year fell to its lowest quarterly level for two years, as large deals slowed in China, Europe and Brazil, research showed.
Investment in renewable energy such as wind and solar power and biomass fell to US$50.5 billion in January to March from US$59.3 billion in the same quarter last year, Bloomberg New Energy Finance said in a report yesterday.
The last quarter to show weaker investment was the first quarter of 2013 at US$43.1 billion. The first quarter tends to be the weakest in terms of clean energy investment as banks and equity investors pause after a busy year-end and as project developers digest any changes in renewable energy support mechanisms.
But this year the strengthening of the US dollar against many currencies also impacted financing and there were fewer large-scale wind investments compared with the first quarter of 2014.
Asset finance of utility-scale renewable projects fell 19 percent in the first quarter from a year earlier to US$27.9 billion, while venture capital and private equity investment in clean energy fell by 21 percent to US$1 billion, the report showed.
Clean energy investment in Brazil fell 62 percent to US$1.1 billion from the first quarter of last year, while that in Europe shed 30 percent to US$9.7 billion and China funding lost 24 percent to US$11 billion.
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