Global clean energy investment cleared $64 billion in the third quarter of the year, marking an 11 percent improvement on the same period last year, according to an analyst report from Clean Energy Pipeline.
The study measured third quarter venture capital, private equity, project finance, mergers and acquisitions, and public market investment in clean energy firms. The performance represented a modest three percent decrease on the level recorded in the second quarter of the year, but still resulted in a significant improvement on last year.
“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.”
The quarter also saw a number of new clean tech investment milestones reached. Most notably clean energy project finance jumped 17 percent year-on-year to a seven quarter high of $41.8 billion, driven in large part by a 15 per cent surge over the quarter in Asian investment.
The data should help fuel hopes that the clean energy investment sector is continuing its recovery. The challenge moving forward is sustaining the momentum in an uncertain economic climate.
Photo: The first of 35 6MW wind turbines being installed at the Westermost Rough offshore wind farm in the North Sea off the northeastern coast of England, August 2014. (via)