2Q13: Cleantech and Renewable Energy Investment Review
Welcome to Taylor Wessing’s analysis of European clean energy investment activity in the second quarter of 2013 (2Q13). This quarter, the firm’s analysis is marked by both optimism and caution.
Taking the bad news first, European project and asset finance hit a four-year low of $4.5bn (£2.9bn) in 2Q13, a 44 per cent decrease on the previous quarter. Investment in Europe was hit by a severe drop in investment in solar and onshore wind projects, which collectively have accounted for around 70 per cent of total European project finance in the past four years.
Investment in European solar fell 32 per cent quarter on quarter to $1.4bn in 2Q13, while investment in onshore wind fell 29 per cent quarter on quarter to $1.9bn. Both sectors have been adversely affected by subsidy cuts in major markets such as Italy, Germany and Spain…
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