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Renewable energy only 2pc of global power supplies, but now attracting 18pc of investment in electricity generation, will attract $US85bn this year

Posted by gmarkets on 3 September, 2007

The latest United Nations reported on sustainable energy investment revealed that $US70.9 billion was invested in “clean-tech” companies in 2006 – particularly those engaged in wind, solar and biofuels development – and it forecasted that the sector would attract $US85 billion this year, reported The Australian (30/6/2007, p.10).

A further $US30 billion for “clean-tech” companies : The UN Environment program study, undertaken by London-based analysts New Energy Finance, added that a further $US30 billion entered the sector via mergers, acquisitions, leveraged buyouts and asset refinancing last year. UNEP said that, although renewable energy accounts for only 2 per cent of global power supplies, it is now attracting 18 per cent of investment in electricity generation. Increase investment shows a full-scale industrial development: Achim Steiner, UNEP executive director, said: “This is full-scale industrial development, not just a teaking of the energy system. The challenge for governments now is to turn near-term advances into continued sector growth.” UNEP commented that the volume of investment flowing in to clean energy now and is showing no sign of abating.

Venture capital, private equity funding 163pc higher than 2005: New investment through venture capital and private equity reached $US7.1 billion last year, 163 per cent higher than in 2005. Despite the global criticism of the American Government for failing to sign the Kyoto treaty, two-thirds of the venture capital and private equity funds – totalling $US 4.9 billion – flowed to the US in 2006.

The Australian, 30/6/2007, p. 10

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