* Global clean energy investment up 24 pct at $59.6 bln in
* China investment surges 92 pct to $18.3 bln in Q2
LONDON, July 11 China was the main contributor
to a 24 percent rise in new global investment in clean energy in
the second quarter as large Chinese solar and wind projects
raised millions of dollars of finance, said research firm
Bloomberg New Energy Finance.
New global clean energy investment totalled $59.6 billion in
the second quarter of this year, up 24 percent from the previous
quarter but still 18 percent below the near-record high of $72.5
billion in the second quarter of 2011, the company said in a
report on Wednesday.
China experienced a 92 percent surge in investment to $18.3
billion in the second quarter from the previous quarter.
"China has recently quadrupled its domestic goals for solar
installations. And it has been by far the biggest market for
wind turbines for several years. These figures underline the
pivotal role China is playing in the clean energy sector," said
Michael Liebreich, Bloomberg New Energy Finance chief executive.
The International Energy Agency said last week that China
would overtake Europe as the world's top renewable energy growth
market this year as Europe's economic downturn and maturing
renewable markets shift the growth centre to large emerging
By contrast, Europe saw investment rise 11 percent in the
second quarter to $20 billion, while the United States gained 18
percent to $10.2 billion, according to Bloomberg New Energy
Some of the largest projects financed in the second quarter
included the 270 megawatt (MW) Lincs wind farm off the UK coast
at $1.6 billion; the 419 MW Flat Ridge Wind Farm in the United
States at $800 million; the 250MW Guodian Shanxi Qinyuan Taiyue
wind farm in China at $317 million and the Shanlu & Shengyu
Bayannur Wuyuan solar PV plant in China at $316 million.
Despite these big deals, it is still difficult for many
companies to raise equity finance, the report said.
The WilderHill New Energy Global Innovation Index, which
tracks 96 clean energy stocks worldwide, stood at 115.25 points
at the end of Q2, which was 75 percent below its record high
Public investment in clean energy was $1.1 billion in the
quarter, nearly double the record low of last quarter but 75
percent below the second quarter of last year.
Venture capital and private equity investment was $1.5
billion, down 28 percent from the last quarter and 39 percent
from the second quarter of 2011.
(Reporting by Nina Chestney, editing by Jane Baird)