Offshore Wind Deal Boosts Clean Energy Investment to $64 Billion

Jul 15, 2014 4:00 am ET

July 15 (Bloomberg) -- Global investment in clean energy increased to $63.6 billion in the second quarter, boosted by the biggest deal in the industry’s history, Bloomberg New Energy Finance said.

Financing swelled 9 percent from a year earlier, and 33 percent from the first quarter, the London-based research company said today in an e-mailed statement. The main driver was the $3.8 billion backing of a 600-megawatt offshore wind farm off the coast of the Netherlands.

The increase marks a reversal after investments declined more than 20 percent from a 2011 peak, Michael Liebreich, chairman of BNEF’s advisory board, said in the statement.

“The new investment upswing is broad-based, with activity rising across wind and solar, large-scale and small-scale projects, and covering most of the big markets,” he said. “The industry is gathering momentum once again.”

Financing for rooftop and small-scale solar rose 41 percent to $21.2 billion from a year earlier. Venture capital and private equity investment in clean energy companies rose 36 percent to $1.6 billion.

Chinese investors accounted for $19.3 billion, up 16 percent. The U.S. invested $10.6 billion and Europe invested $14 billion.