renewables investment

Sustainable infrastructure investment firm Generate Capital has raised US$2 billion in funding to scale its support for sectors such as clean energy.

Investors are turning away from fossil fuels and shifting into renewables because of falling costs and climate targets, with US banks lagging behind their European and Asian counterparts

Green energy investments in developing countries will need to reach US$1 trillion within the next nine years for the world to reach net zero emissions by 2050, according to the International Energy Agency (IEA).

Danish renewables developer Ørsted has said it plans to invest DKK 350 billion (US$57 billion) by 2027 to reach 50GW of installed clean energy capacity by the end of the decade.

Financial commitments for utility-scale renewables projects in Australia have slowed to the lowest level in the past five years, according to the Clean Energy Council (CEC), which revealed investment in large-scale batteries in the country is booming.

Swiss infrastructure fund manager SUSI Partners has raised US$81 million to tap into the fast-growing renewables sector in Southeast Asia.

Energy company ERG’s board of directors have approved a plan to invest €1.9 billion (US$2.31 billion) to add 1.5GW of renewable energy capacity to its portfolio.

Portuguese grid operator Redes Energéticas Nacionais has said it will invest more than €900 million (US$1.1 billion) by 2024 in technologies and improvements to the electricity network to support the country’s green energy transition.

Asset managing giant BlackRock has raised US$4.8 billion from institutional investors to fund renewable power generation projects in Europe, Asia and the Americas.

Global capital investment on renewables is expected to return to pre-pandemic levels in 2021, with solar PV set to account for the majority of clean energy capacity additions in the next five years, according to IHS Markit Energy Advisory Service.