India attracted $10.2 bn investment in wind energy and solar power in 2011

The wind farm sector led the way, attracting $4.6 billion out of a total $10.2 billion investment in India and spurring deployment of 2.8 GW during the year, a 38 per cent increase in wind turbines generating capacity, according to research released on Wednesday by The Pew Charitable Trusts.

"On a number of measures, India has been one of the top performing clean energy economies in the 21st century, registering the fifth highest five-year rate of investment growth and eighth highest in installed renewable energy capacity," said Phyllis Cuttino, director of Pew’s Clean Energy Programme.

"The country holds great potential in the Asia/Oceania region and will continue to be a top destination for private investment this year," she said.

India’s ‘National Solar Mission’, with a goal of 20 GW of solar power installed by 2020 (photovoltaic and concentrating solar power), helped drive the seven-fold jump in solar energy investments, to $4.2 billion.

Globally, investment grew to a record $263 billion in 2011, a 6.5 per cent increase over the previous year. The United States reclaimed the top spot among all G-20 nations and attracted $48 billion.

However, with $45.5 billion in private investments, China continued to be a hub of clean energy activity – leading the world in wind energy investment and deployment as well as wind and solar manufacturing. Germany received $30.6 billion ranking third among G-20 nations.

The combination of falling prices and growing investments accelerated installation of clean energy generating capacity by a record 83.5 GW in 2011 bringing the total to 565 GW globally.

This represents almost 50 per cent more than installed nuclear power capacity. Investments in the G-20 countries accounted for more than 95 per cent of the global total.