LONDON, Jan. 9 Clean-energy funding increased in 2007, said London-based New Energy Finance.
The amount of new funding injected into the "clean energy" sector rose by 41 percent in 2007, according to an international research report, the Orlando Business Journal reported.
About $117 billion was spent worldwide in the sector, including everything from wind power to biofuels to waste management. That's compared with $83 billion in 2006.
Fueled by growth in Europe and Asia, wind power dominated the market in 2007 with about $24.8 billion, accounting for about half of new project investments.
Solar power companies raised $5.8 billion through public markets. But biofuels raised only $1 billion in new funding, a sharp drop from 2006 levels, because of rising feedstock costs associated with the U.S. ethanol industry.
"The wave of liquidity washing through the sector shows no signs of abating, and despite the dark clouds still massed over the world's credit markets, 2008 looks set to be another banner year," says Michael Liebreich, New Energy Finance chairman and chief executive.
Copyright 2008 by UPI
