Social Good Engineering Magazine: GineersNow Social Innovation GineersNow Engineering Magazine Issue No. 001 | Page 63

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C R L E N
AN
E N B E L R E G S Y
E WA
Global Investments On Clean Energy
Totaled To $329 Billion In 2015
A
ccording to Bloomberg New En-
ergy Finance (BNEF), the total
investment on clean energy hit
$329 billion in 2015 accounting
50 percent of investment from
the Asia-Pacific Region.
BNEF Chairman of Adviso-
ry Board Michael Liebreich said that the figures
are a stunning riposte to all those who expected
clean energy investment to stall on failing oil
and gas prices. He even added that they high-
light the improving cost-competitiveness of solar
and wind power, driven in part by the move by
many countries to reverse-auction new capacity
rather than providing advantageous tariffs, a
shift that has put producers under continuing
price pressure.

China was said to remain the largest
clean energy investor amounting to $111 billion
with solar energy as its largest funding. China
is likely to propel towards less pollution actions
and less coal powered energy sources as a part
of its 13th five year plan (2016-2020) to be im-
plemented in March 2016. It’s National Carbon
Emission Trading Program, the world’s largest
carbon emission control project, will cover
10,000 companies emitting 3-4 billion tons of
CO2.

The European Investment Bank also
allowed lending all over €100 billion for climate
action for the next five years.

China National Building Materials
recently signed a €1.6 billion agreement with
Hong Kong-based Welink Global in the United
Kingdom for solar power proj-
ects and energy saving hous-
ing in the United Kingdom.
The European Bank for
Reconstruction and Develop-
ment and the Clean Technolo-
gy Fund formed a programme
to lend $125 million in devel-
Photo Source: Gov Tech
63
oping geothermal in Turkey. The plan consists of
constructing five geothermal power plants.

In Japan, the Development Bank of
Japan and Japan Wind Development implement-
ed the creation of the country’s first wind power
funding at $423 million.

Meanwhile in South Korea, LG Elec-
tronics plans to invest $435 million in building
solar manufacturing plants.

From a well invested 2015, may 2016
be a better year for all nations.
Photo Source: Gov Tech