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Cleantech investments rise globally in second quarter

Good news for clean investment and clean energy technology as investment rebounds from its earlier collapse following the economic crisis.

According to the research group, New Energy Finance, clean energy shares rebounded by 36% over the last three months with power storage companies being the lead sector followed by wind and energy efficiency technologies.

"It is heartening to see clean energy stocks performing well in the second quarter of 2009," says Michael Liebreich, chairman and CEO of New Energy Finance. Government budgets were also critical in re-establishing confidence in the environmental sector. "Our latest estimate is that the governments of major economies have committed $162.8 billion to "green stimulus" programmes since last autumn," Liebrech says.

Worldwide, investment figures reached $24.3 billion according to New Energy Finance. European markets performed the strongest while US markets lagged considerably, totaling just $1.6 billion.

The global data will boost hopes that the clean energy sector is through the worst of the downturn, but also leave many worried that the pace of investment in clean energy will be insufficient to bring carbon dioxide emissions to a peak before 2020. However, second quarter investment figures are around 37 percent below the quarterly average for last year. New Energy Finance recently predicted that total new investment this year would end up between $95 billion and $115 billion.

"It is a relief to see new investment in clean energy up from the feeble levels in the first quarter. But it would be wrong to celebrate - the sector continues to face big challenges, particularly in the financing of projects and new technologies," says Liebreich.

Source: New Energy Finance

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