Indian renewable investment reached $10.3bn in 2011

Clean energy investments in India were a whopping $10.3bn (£6.53bn) in 2011- 52% higher than the $6.8bn (£4.3) invested in 2010. According to Bloomberg New Energy Finance this was the […]

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By Tom Gibson

Clean energy investments in India were a whopping $10.3bn (£6.53bn) in 2011- 52% higher than the $6.8bn (£4.3) invested in 2010. According to Bloomberg New Energy Finance this was the highest growth figure of any economy in the world.

The large growth was driven by a seven‐fold increase in funding for grid‐connected solar projects- from $0.6bn in 2010 to $4.2bn in 2011. Wind power investments totalled $4.6bn.

Michael Liebreich, chief executive of Bloomberg New Energy Finance said: “India’s record performance in 2011 and the momentum it is carrying into 2012, is one of the bright spots in the clean energy firmament. With support mechanisms falling away in the US, the ongoing financial crisis in Europe, andChina already going flat out, it is gratifying to see some of the world’s other major potential markets coming alive. India is firmly in the lead group and we are seeing interest around the world in being part of what is unfolding there.”