8 June 2009

New clean energy 2009 investment seen sharply down

New investment in clean energy will total $95 to $115 billion in 2009, representing a drop of 26-39 percent from last year's total of $155 billion, data published by research group New Energy Finance showed on Friday.

The clean energy sector including wind and solar power enjoyed more than fourthfold growth in investment since 2004 but has suffered a sharp fall as a result of the financial crisis.

"It is disappointing that 2009 will look likely to show such a significant fall in new investment in clean energy. However, the good news is that it does look as though the worst is past," Michael Liebreich, chairman and chief executive of New Energy Finance said in a statement.

Investment in the second quarter of the year has already surpassed the first quarter by a third, the group said.

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