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Clean-Energy Spending Rose 11% in Third Quarter on Offshore Wind
2010-10-13 11:52:15.996 GMT
By Ben Sills
Oct. 13 (Bloomberg) -- Investment in clean-energy projects
rose 11 percent in the third quarter as lending for offshore
wind generation surged, Bloomberg New Energy Finance said.
New loans and equity for low-carbon power projects reached
$37.9 billion from July through September, compared with $34
billion in the same period of 2009, the company said in an e-
mailed statement. Investment in the second quarter was $33.9
billion.
The clean-energy industry may attract record spending of
almost $200 billion this year when government outlays are
included, New Energy Finance forecast. Governments from Berlin
to Beijing are promoting wind and solar power to reduce the
emission of greenhouse gases. China, the world's biggest air
polluter, may spend about 5 trillion yuan ($750 billion) in the
next decade developing cleaner energy to reduce emissions from
burning oil and coal, the government said in July.
"The latest hot spot is infrastructure spending for North
Sea offshore wind," New Energy Finance Chief Executive Michael
Liebreich said in the statement. "It is reassuring to see
billions being committed, although this is only the start."
Asset finance reached a record $32.8 billion, with $1.9
billion invested in cables to connect wind generators in the
North Sea to the German mainland. China also posted a record,
with $13.5 billion invested mainly in wind generators.
New Energy Finance is the London-based analysis arm of
Bloomberg LP.
For Related News and Information:
Emissions-trading stories: NI ECREDITS BN <GO>
Emission offset prices: WCER <GO>
Power markets: VOLT <GO>
News on global emissions data: EMIS <GO>
--Editors: Mike Anderson, Todd White.
To contact the reporter on this story:
Ben Sills in Madrid at +34-91-700-9603 or bsills@bloomberg.net
To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or landberg@bloomberg.net
