cleantech investment
The first financial quarter of 2011 closed last week, and the early numbers suggest it was a record quarter for cleantech investment.
According to a report released this week by Clean Edge Inc. the world clean energy market grew 35.2% in 2010, rising from US$139.1 billion from in 2009 to US$188.1 billion in 2010.
As the decade comes to an end and a new one begins, Asian countries have established themselves as the driving forces in renewable energy.
Whether it is spending on wind turbines, high-speed rail, or solar panels it is estimated that China is investing roughly US$12 million every hour in clean energy.
New York Pacific Capital (NYPC) has created a private equity fund to the tune of US$45 million fund that it will base in China.
The South Korean government has announced it will invest US$35.4 billion in the development of renewable energy resources by 2015.
The Cleantech Group has published its 2010 Global Cleantech 100 Report, which among other analysis, assesses the leading cleantech regions of the world. Although the data shows the United States continues to lead in alternative energy innovation, the balance of power is shifting.
VantagePoint Venture Partners has announced the launch of a US$100 million cleantech fund aimed at developing projects in China's Bohai Rim region.
According to research conducted by the accounting firm Ernst & Young, China has supplanted the United States as the most attractive destination for investment in renewable energy.
The Asian Development Bank has decided to invest another US$1 billon in renewable energy projects and private equity funds which finance cleantech development in Asia.
