Report: 2Q Clean-energy Investment Improves

SANDY SHORE

DENVER (AP) — New global investment in renewable-energy projects showed a glimmer of improvement in the second quarter although the pace remained glacial as investors await stimulus program details, analysts said Friday.

Preliminary data showed second-quarter investment was at least one-third more than the dismal first quarter of $13.3 billion, New Energy Finance, an industry research firm, reported.

"Investment in clean energy companies via the public markets has rallied sharply," New Energy Chief Executive Officer Michael Liebreich said in a statement. "The good news is that it does look as though the worst is past."

Much of the delay is due to the wait for details on how governments worldwide will disburse stimulus money for clean energy, which New Energy estimated at $184.9 billion for major countries.

The U.S. government, for example, will allocate billions for energy efficient measures and development of energy alternatives to oil.

"The phones started ringing when Congress and the administration passed that but the deal flow hasn't begun because the rule-writing process is not completed yet," said Roby Roberts, a U.S.-based senior vice president for Vestas Wind Systems, the world's largest wind turbine manufacturer. "We're waiting for that. There is a lot of pent-up demand."