UN: Increased investments in alternative energy

By: The Associated Press
By: The Associated Press

The U.N. calls it a "green energy gold rush." Global investors plowed 148 billion dollars into new wind, solar and other alternative energy assets last year. That's 60 percent above the 92.6 billion dollars spent on such projects in 2006.

The spike in investment reflects sharply rising concerns over climate change and energy prices.

In 2005, alternative energy drew 58.5 billion dollars in new money.

An additional 56 billion changed hands on mergers and acquisitions involving alternative energy last year. The head of the U.N. Environment Program says it's another sign the "clean energy" industry is maturing in the eyes of investors.

The U.N. reports wind energy led last year, drawing 50 billion in new investments, a more than 40-percent rise from 2006.

And the report says solar power was the fastest-growing sector, rising almost 90 percent to 28 billion dollars.

Most of the new money flowed into Europe, followed by the U.S. But the report noted there is growing interest in green technologies in China, India and Brazil.


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