Business News
China is world leader in renewable energy investment, report says
Jul 5, 2011, 20:50 GMT
Frankfurt - China leads the world in investment in renewable energy technology, with much of its expenditure going into wind farms, according to a report published in Frankfurt on Tuesday.
The report was based on a study of world investment in renewable energy last year at a record 211 billion dollars, a third more than in 2009. China's investments totalled 48.9 billion dollars.
The study was jointly conducted by the Frankfurt School of Finance & Management, the United Nations Environment Programme and the London-based news service Bloomberg New Energy Finance.
The report showed developing nations had overtaken the industrialized nations for the first time in the total value of major renewables projects, with 72 billion dollars of corporate investment for large-scale projects.
The comparable number for the industrialized world was 70 billion dollars, according to the report, entitled 'Global Trends in Renewable Energy Investment 2011.'
Germany led the world in investment in solar electricity systems on building roofs. The German investment in this rose by 132 per cent to 34 billion dollars.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
