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Indian clean energy investments dropped 20pct to USD 11 billion in 2017 - BNEF

Power News - Published on Thu, 18 Jan 2018

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Economic Times reported that global clean energy investments rose a marginal 3% to USD 333.5 billion in 2017, led by China where investment in all clean energy technologies increased to USD 132.6 billion, up 24% from 2016. However, clean energy investments in India dropped 20 per cent to USD 11 billion last year.

BNEF said in a statement released along with its report on annual figures based on its database of projects and deals that "After China, the next biggest investing country was the US,at USD 56.9 billion, up 1% on 2016 despite the less-friendly tone towards renewables adopted by the Trump administration.”The report shows global investment in renewable energy and energy-smart technologies in 2017 was only 7% short of the record figure of USD 360.3 billion reached in 2015.

Mr Jon Moore, chief executive of BNEF said that "The 2017 total is all the more remarkable when you consider that capital costs for the leading technology solar - continue to fall sharply. Typical utility-scale PV systems were about 25% cheaper per megawatt last year than they were two years earlier.”

Solar investment globally amounted to USD 160.8 billion in 2017, up 18% on the previous year despite these cost reductions. Just over half of that world total, or USD 86.5 billion, was spent in China. This was 58 % higher than in 2016, with an estimated 53 GW of PV capacity installed up from 30 GW in 2016.

Large wind and solar project financings pushed Australia up 150 per cent to a record USD 9 billion, and Mexico up 516 % to USD 6.2 billion. On the downside, Japan saw investment decline by 16 % in 2017, to USD 23.4 billion, while Germany slipped 26 % to USD 14.6 billion and the UK 56% to 10.3 billion in the face of changes in policy support.

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Posted By : Nanda Koijam on Thu, 18 Jan 2018
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