Clean Energy in Emerging Markets Endures a Rough 2020

Wind Industry Profile of

BloombergNEF’s annual Climatescope survey illustrates investors’ pre-pandemic appetite for clean energy in developing markets; Chile finishes atop the market ranking

As 2019 came to a close, the outlook for renewable energy growth in developing economies was exceptionally bright. Power-generating capacity from solar plants such as photovoltaic projects reached 325 gigawatts (GW), up from just 1GW a decade earlier, according to new findings from research firm BloombergNEF (BNEF). Wind investment hit an all-time annual high, with $89 billion deployed to build projects in 30 emerging markets, both onshore and offshore. Powering the growth was the fundamental cost-competitiveness of these clean technologies compared to their fossil-fuel rivals, which foreign investors... ... More: Official Press Release BloombergNEF

Keywords:

BloombergNEF, outlook, renewable energy, emerging markets, GW, investment, growth, wind, solar, Chile, Covid-19, pandemic