Alternative energy investments up in Q2
CB Richard Ellis has found that alternative energy investment in Q2 2009 has already surpassed that of Q1 2009 by one third, which shows that the sector is showing signs of recovery.
The report by CBRE’s Energy and Sustainability team shows that wind is still the largest recipient of sustainable energy funds.
However, despite a strong performance in Q2, the outlook remains tough as the credit crunch continues to bite. Charlotte Eddington, Director of EMEA’s Energy & Sustainability at CBRE said:
“Advances in alternative energy still face a number of issues, including the lack of hunger from investors.
“Government measures worldwide have encouraged alternative energy, with the USA, Europe and Asia implementing 250 polices since July 2008 in support of alternative solar, wind and low carbon energy, although the industry still relies on private sector finance which has taken a hit since the collapse of lending markets.”
She adds: “Renewable energy projects will continue to be viable and attract investments because the fundamental push from the climate change agenda remains.”
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