18 Sep '13, 1am

Development Banks Lend Record $108.9 Billion to Renewable Energy

Development Banks Lend Record $108.9 Billion to Renewable Energy

LONDON -- Development banks worldwide lent a record $108.9 billion to renewable energy and energy-efficient technology last year as they scale back investment in coal-fired power plants, Bloomberg New Energy Finance said. KfW Group was the biggest lender furnishing $34.4 billion in 2012 followed by China Development Bank Corp. with $26 billion, Bloomberg New Energy Finance said in a report today that used data from 26 institutions. The state-backed lenders have boosted their financing of clean energy at an average rate of 25 percent over the last five years and that trend looks set to continue, the London-based researcher said. “Since large development banks like the European Investment Bank and the World Bank Group have stated their intention to scale down or eliminate investment in coal-fired energy generation, we expect continued growth in clean energy investment,” acco...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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Development Banks Lend Record $108.9 Billion to Renewable Energy

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