Global renewable energy investment has escalated by 33 per cent in the second quarter of 2014, according to a report by Bloomberg New Energy Finance (BNEF).
For the period of April to June, there was a total of £37.2 billion investment in renewable energy projects, a 9 percent rise from the same period in 2013, the report said.
The investment in rooftop and small-scale installations has gone up by 41 percent reaching £12.4 billion compared to the previous year, revealed the report.
Moreover, private equity investment and venture capital in clean energy firms has increased by 36 percent, touching £940 million.
Michael Liebreich, chairman, advisory board, BNEF, said, “The new investment elevation is broad-based, due to the new projects in wind and solar, covering most of the big markets. We expect that for 2014, the figure will show a rebound in global investment in clean energy.”
The main reason for the increase is stated to be the £2.2 billion offshore wind farm in the North Sea. The 600 MW Gemini wind farm will come up in the North Sea, the biggest ever deal in offshore wind sector.
The wind farm is expected to cater for energy demands of 1.5 million people annually and will reduce the annual carbon emissions by 1.25 million tons in Netherlands.