Renewable Investments Fall in Emerging Markets
New energy investment in emerging economies slipped last year to $133 billion, far from the 2017 record of $169 billion, mostly due to a slowdown in China, BloombergNEF said in its annual Climatescope report.
China, because of is massive share in new clean energy investments globally, was responsible for the majority of the decline in investments, according to BloombergNEF’s findings, Oil Price reported.
Investment in new-build solar, wind, biomass, wind, small hydro, geothermal, and biofuels capacity in China fell to $86 billion in 2018 from $122 billion in 2017, the report showed.
Other major markets, including India and Brazil, also saw annual declines in new clean energy investments, BloombergNEF said.
After three years of solar dominance in new clean energy investments, wind took over last year and accounted for 51% of total investments in 2018 compared to 47% for solar.
China shocked the market in June 2018 by announcing that it would not issue approvals for any new solar power installations in 2018 and would also cut subsidies.
The major shift in Chinese solar policies led to a marked slowdown in investments in new capacity.
Excluding China, India, and Brazil, clean energy investment in emerging markets rose in 2018 to a record $34 billion, from $30 billion in 2017, according to BloombergNEF.
Although new construction of coal-fired power plants in emerging markets dropped to the lowest level in a decade, coal-fired power generation jumped by 7% in 2018 compared to 2017—the highest annual rise since 2013, the report noted.
source: Financial Tribune
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years