China leads as global clean energy investment jumps 24 Percent

Global clean energy investment, which has been knocked by government austerity and policy uncertainty,  made a significant comeback during the second quarter of 2012.

New clean energy investments totalled nearly $60 billion across Q2 2012, up 24 percent compared to Q1 2012, but still well below the near-record amount of over $70 billion from Q2 2011, according to research published by Bloomberg New Energy Finance.

China

China surged ahead in investment during the April-June period, up 92 percent from Q1 2011 to $18.3 billion, led by several large solar photovoltaic and wind farm projects each representing hundreds of millions worth of financing. Europe and the United States also gained, but at a slower rate. Clean energy investment rose 11 percent in Europe to reach $20 billion, and 18 percent in the U.S. to reach $10.2 billion.

The central role China plays in the global renewables market is apparent in the Q2 results.

 

Solar

Solar projects represented more than half of all new clean energy investment, securing $33.6 billion over the quarter to increase 19 percent compared to Q1. Wind projects accounted for nearly all the remaining investment, with $21.6 billion, up 47 percent from Q1 2012.

Several large projects in the United Kingdom, U.S., and China led the Q2 charge. The UK's 270MW Lincs offshore wind farm received $1.6 billion in investment, while the 419MW Flat Ridge Wind Farm in Kansas secured $800 million. Two Chinese projects stood out, with the 250MW Guodian Shanxi Qinyuan Taiyue wind farm locking down $317 million and the Shanlu & Shengyu Bayannur Wuyuan PV plant scoring $316 million.

 

 

 

 

Image 01 - Renewable energy, Top left: Kwerdenker/ Top right: Gretar Ívarsson/ Bottom left: Fernando Tomás/ Bottom right: OI-B-i.fernandez02

Image 02 - China satellite, NASA Worldwind

Image 03 - Solar Energy, Aptiva