Month: January 2012

Renewable energy investments increased 5% to $260bn in 2011

A report from Bloomberg New Energy Finance said that a sluggish economy did not hamper investments in new clean energy projects as they increased 5% to $260Bn in 2011, a record high. U.S. investments in renewable energy moved ahead of China for the first time since 2008, according to the latest data. U.S. projects saw […]

A report from Bloomberg New Energy Finance said that a sluggish economy did not hamper investments in new clean energy projects as they increased 5% to $260Bn in 2011, a record high.

U.S. investments in renewable energy moved ahead of China for the first time since 2008, according to the latest data. U.S. projects saw an investment of $55.9Bn in 2011, up 33% from 2010. China’s investments increased 1% to $47.4Bn.

“The news that the US jumped back into the lead in clean energy investment last year will reassure those who worried that it was falling behind other countries,” said Michael Liebreich, chief executive of Bloomberg New Energy Finance. “However before anyone in Washington celebrates too much, the US figure was achieved thanks in large part to support initiatives such as the federal loan guarantee program and a Treasury grant program which have now expired.”

In 2011, investments in solar technology increased 36% to $136.6Bn, nearly double the $74.9Bn investment in wind power, which was down 17% from 2010. Biomass and waste-to-energy investments decreased 18% to $10.8Bn, geothermal dropped from $3.2Bn to $2.8Bn, small hydro decreased 25% to $3Bn and investments in marine technology were steady at $0.3Bn.

“The performance of solar is even more remarkable when you consider that the price of photovoltaic modules fell by close to 50% during 2011, and now stands 75% lower than three years ago, in mid-2008,” Liebreich said. “The cost of PV technology has fallen, but the volume of PV sold has increased by a much greater factor as it approached competitiveness with other sources of power.”

The previous year also saw the one trillionth dollar invested globally in renewables since 2004. The largest single type of investment was the asset finance of utility-scale renewable energy projects, which increased from a revised $138.3Bn in 2010 to $145.6Bn in 2011.

Venture capital and private equity investment saw an increase of 4% in 2011 to $8.9Bn.

To read the full report, Renewable Investments 2011.

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Suzlon Energy Signs MoU With AP Govt For 3,000mw Power Projec

Suzlon Energy, has signed a MoU with the Andhra Pradesh government for setting up of capacities to generate about 3,000 mw of wind power till 2016. The proposal entails an investment of about Rs18,000 crore. Under the MoU, which was signed at the recent Partnership Summit in Hyderabad, the state government will facilitate Suzlon in […]

Suzlon Energy, has signed a MoU with the Andhra Pradesh government for setting up of capacities to generate about 3,000 mw of wind power till 2016. The proposal entails an investment of about Rs18,000 crore.

Under the MoU, which was signed at the recent Partnership Summit in Hyderabad, the state government will facilitate Suzlon in obtaining necessary permissions, registrations, approvals and clearances for the development of wind farms in the state.

Suzlon, in turn, will play the role of a developer and facilitate the channelisation of investments into the state from its customers investing in wind energy.

Tulsi Tanti, chairman, Suzlon Group, said, “This not only reinforces Andhra Pradesh’s position as one of India’s emerging markets in wind energy, but also illustrates their commitment to power a low-carbon economy by embracing progressive policies to power rapidly growing economy of the state.”

The agreement covers the development planned in the districts of Tallimadugula, Alankarayanipeta, Gandikota, Vajrakarur, Tirumalayapalli and other parts of Andhra Pradesh. Andhra Pradesh is a key emerging wind market in the country, with medium to low wind sites ideally suited to Suzlon’s new S9X suite of turbines.

The state government, according to sources, is keen on making use of the proposal to develop a model for setting up of renewable energy sources and focus on developing clusters of wind and solar farms.

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