The need of the hour, Renewable energy is the focus of all nations of the world owing to the rising emissions. A recent report released by UN reveals that India & China have overtaken the developed economies in terms of investment in Renewable energy.
- The report ‘Global Trends in Renewable Energy Investment’ for 2015 has been released by the UN
- It showed an increase in investment by the developing countries compared to the developed nations
- The contribution by India, China & Brazil in 2015 in renewable energy sector amounts to $156 billion
- This is 19% more than that of 2014
- On the contrary, the investments of developed nations declined by 8% to $130 billion
- China holds one third of the global investment with $102.9 billion and India raised its stake by 22% to $ 10.2 billion
Scenario of Developed economies
- Investment in Europe was down 21%, from $62 billion in 2014 to $48.8 billion in 2015
- However ,investment in US was up 19%Â to $44.1 billion, and in Japan investment was much the same as the previous year at $36.2 billion
Scenario of Developing Economies
- China, India and Brazil saw investment rise 16 %to $ 120.2 billion, while other developing economies enjoyed a 30 %bounce to $ 36.1 billion
Top 10 investments
- The US, Japan, UK Brazil, South Africa, Mexico and Chile all made it to the top 10 investing countries in 2015
Focus on India
- India enjoyed a second successive year of increasing investment, breaching the $10 billion for the first time since 2011
- There was a jump in utility-scale solar financings to $6 billion, up 75%Â on the previous year
- The targets for wind energy is set at 60GW by 2022
- The major solar projects include NTPC Kadiri PV plant phase one, at 250 MW, and the Adani Ramanathapuram PV installation, at 200 MW
AffairsCloud Recommends Oliveboard Mock Test
AffairsCloud Ebook - Support Us to Grow
Govt Jobs by Category
Bank Jobs Notification
