April 24, 2013
/PRNewswire/ -- Total new financial investments in clean energy in non-
rose 127% in 2012 compared to 2011 figures, reaching
. This growth reverses the first global decline in new clean energy investments last year, as the region became more active in renewable energy.
The trend emerges as 200 senior level financiers and developers will meet at the 3rd Annual Renewable Energy Finance Forum –
next week. REFF-LAC will address the rapidly changing state of renewable energy finance, and insights about the path ahead, with a specific focus on the Central, South American and
markets and how they are interacting with the broader global markets.
Globally, new investments in clean energy fell 11% from
in 2011 to
in 2012, according to Bloomberg New Energy Finance (BNEF). This is the first time BNEF has observed a decrease in renewable energy financing. However,
was a bright spot, with four countries seeing triple-digit investment growth, including:
- Mexico total new financial investments in clean energy for 2012 reached $1.9 billion, up 595% compared to 2011 figures
- Chile total new financial investments in clean energy for 2012 reached $1 billion, up 313% from $246 million in 2011
- Uruguay total new investments totaled $105 million, up 285% from the previous year
- Peru total investments came to $643 million, representing a 176% increase from $233 million invested in 2011
"The increased investments in non-
was driven by increased activity by the Inter-American Development Bank," said
Maria Gabriela da Rocha Oliveira
, Head of Latin America Research and Analysis at BNEF. "Additionally, European players, both project developers and manufacturers, have become more active in the region given grim conditions at home."
"As investments in clean energy declined in 2012 due to the ongoing financial crisis, the sector was actually growing in most of
. This is a huge boon for clean energy finance and the region, which we expect to continue to grow," said
Carlos St. James
, president of the Latin American & Caribbean Council on Renewable Energy (LAC-CORE) and CEO of VOLA Investments LLC. "The most exciting trend is that this has moved beyond
, with other countries now seeing amazing growth and potential."
Total financial investments in clean energy by country were led by
), according to BNEF. By sector, biofuels (
), biomass and waste (
) and geothermal (
) received the most new financial investments.
April 30-May 1
, REFF-LAC will address the rapidly changing state of renewable energy finance, and insights about the path ahead, with a specific focus on the Central, Latin American and
markets and how they are interacting with the broader global markets. In the face of tremendous long-term growth potential and new political support, the renewable energy markets are today suffering from the credit crisis, withdrawal of major lenders, loss of tax equity capacity, economic recession, and new legislative initiatives. REFF-LAC is hosted by Euromoney Energy Events and the American Council on Renewable Energy (ACORE), in partnership with the Latin American & Caribbean Council on Renewable Energy (LAC-CORE). REFF-LAC is made by the industry, for the industry. Our panel of conference Co-Chairs provide guidance on the business-critical issues facing you today ensuring high-level, topical debate that gets to the heart of the industry. For more information or to register, visit
ACORE, a 501(c)(3) non-profit membership organization, is dedicated to building a secure and prosperous America with clean, renewable energy. ACORE seeks to advance renewable energy through finance, policy, technology, and market development and is concentrating its member focus in 2013 on National Defense & Security, Power Generation & Infrastructure, and Transportation. Additional information is available at
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SOURCE American Council on Renewable Energy