Investment in renewable energy capacity around the world showed great resilience in the first half of 2020, even in the face of the economic crisis caused by the coronavirus. According to data released this Monday (13) by the research company BNEF (BloombergNEF), total investment was US$132,4 billion, an increase of 5% in relation to the US$125,8 billion invested. in the same period of 2019.
According to the survey, offshore wind energy had the busiest semester among all sources, totaling US$35 billion, an increase of 319% compared to the previous year. For BNEF, the growth offset declines in investment in solar, which fell 12% to US$54,7 billion, and onshore wind, which fell 21% to US$37,5 billion.
“We expected Covid-19 to affect investment in renewable energy in the first half of the year, due to delays in the financing process and some auction programs. There are signs of this in both solar and onshore wind, but the global figure has proven incredibly resilient thanks to offshore wind,” commented Albert Cheung, head of analysis at BNEF.
Angus McCrone, BNEF editor-in-chief, said a clearer picture of the impact of Covid-19 on green energy investment will come with the full-year 2020 figures. “Renewables have been helped by vastly improved competitiveness and investor appetite for assets that offer secure cash flows.
However, project developers face the challenge that key people, whether in the permitting, financing or construction phase, cannot meet in person. And buyers of small-scale solar systems are sensitive to changes in consumer confidence,” McCrone explained.
Biggest investors
According to the research, China was the country that invested the most, injecting US$41,6 billion in the semester, an increase of 42% compared to the same period in 2019. Europe guaranteed US$36,5 billion, growth of 50%, while the United States fell 30% to $17,8 billion. Japan saw financing increase 14%, to US$ 10,8 billion, but India fell 49%, to US$ 2,7 billion. In relation to Brazil, the country presented a drop of 26%, to US$ 2,5 billion.
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