Clean energy investment drops in first quarter
Global investment in clean energy fell 5% in the first quarter of 2014, according to figures released on Tuesday by financial services firm Clean Energy Pipeline.
Total new investment in the clean energy sector totalled $61bn in Q1, down 5% year on year and down 14% from the last quarter of 2014.
"The first quarter of 2015 provided mixed messages," said Clean Energy Pipeline CEO Douglas Lloyd.
"Project finance performed well, registering a 10% increase over the same period last year. However, public market activity and venture capital and private equity investment underperformed significantly."
The findings match up with a recent report from Bloomberg New Energy Finance (BNEF), which claimed that clean energy investment was at a two year low
The brightest news from the first quarter was a 12% annual increase in clean energy project finance to $44 billion. This was underpinned by a surge in deal activity in Asia - approximately $13 billion was raised for renewable energy projects in Asia in Q1 15, almost double the $6.9 billion invested in Q1 14.
There were also two notable offshore wind project finance deals in Q1 15. The 322 MW Nordsee 1 offshore wind farm in Germany secured $889 million debt financing, while the 30 MW Block Island offshore wind farm, which will be the first utility-scale project in US waters, also reached financial close.
However, a broader view points a more positive picture, as clean energy investment surged in 2014, totalling $310bn, the highest amount since 2011 and a year-on-year growth of 16%.