H1/2022 RE Investments Added Up To $226 Billion

BloombergNEF: New Large- & Small-Scale Solar Projects Took $120 Billion Investment In H1/2022

H1/2022 RE Investments Added Up To $226 Billion

As demand for clean energy grows globally, spurred by high energy prices, BloombergNEF analysts see strong investor appetite for renewables that grew in H1/2022 despite high raw material prices and supply chain challenges. (Source: BloombergNEF)

  • BloombergNEF’s renewables investment report for H1/2022 shows global investments went up by 11% to $226 billion
  • For new large- and small-scale solar, the numbers grew 33% annually to $120 billion, and for wind it was an increase of 16% to $84 billion
  • China was the largest market with $41 billion invested in large scale solar and $58 billion in wind projects

There was an annual increase of 11% in global investments in renewable energy with $226 billion in H1/2022, making it the ‘best-ever’ 1st half for renewables investment, according to Bloomberg New Energy Finance (BloombergNEF), thanks to increasing demand for clean energy globally.

Money flowed into the sector despite supply chain challenges, rising financing costs and high raw material prices of late, including for steel and polysilicon. “Yet, today’s figures indicate that investor appetite is stronger than ever, in part due to the very high energy prices currently being seen in many markets around the world,” stated the analysts.

In the Renewable Energy Investment Tracker 2H 2022 report, BloombergNEF analysts count 33% annual increase in investments in new large- and small-scale solar projects to a total of $120 billion, while for wind energy the project financing went up by 16% to $84 billion.

Venture capital and private equity investments in renewables and energy storage too recorded an all-time high with $9.6 billion raised, reflecting an annual improvement of 63%. Only public market issuance dropped 65% to $10.5 billion.

Maximum investment growth in both wind and solar sectors was reported from the world’s largest market China. It invested 173% more or $41 billion in large scale solar during H1/2022, along with $58 billion in new wind projects, up 107%. BloombergNEF believes the country is well on track to achieve its 1.2 TW wind and solar capacity target by 2030 (see China Aims For Over 1,200 GW Wind & Solar Power By 2030).

Here are some of the findings of the report for H1/2022:

  • New large scale solar investments totaled $66 billion were up 27% annually.
  • After China, the US was the 2nd largest solar market attracting investments worth $7.5 billion, followed by Japan at $3.9 billion.
  • Utility-scale solar asset finance increased 27% YoY, while wind asset finance was up 16%.
  • Investment in other sectors, such as biomass, waste-to-energy and small hydro, dropped in comparison.
  • China’s Tongwei Co Ltd raised $1.9 billion in terms of largest share offerings, PV manufacturer Jinko Solar raised $1.6 billion, and wind equipment manufacturer Sany Heavy Energy Co Ltd pulled in $837 million.

BloombergNEF has provided an abridged version of the report to be downloaded for free from its website.

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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