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The Warsaw Voice » Business » August 13, 2008
Renewable energy
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Clean Energy Investment Soars
August 13, 2008   
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9.4 percent was the unemployment rate in July, 0.2 percentage points less than in June, according to preliminary labor ministry figures.

Global investment in the production of renewable energy rose by 60 percent last year and will continue to grow rapidly in the coming years, according to projections by the United Nations Environment Program (UNEP). The sector is expected to draw some $600 billion in new investment by 2020, four times more than in 2007.

Growing oil prices, energy security concerns, climate change and strong government support for green energy projects are behind this huge interest in renewable energy production, UNEP says. According to UNEP experts, the crisis on financial markets has not affected the renewable energy sector. Just the contrary, some investment funds treat the sector as a safe haven for the assets they manage. In the second quarter of this year, the amount of private and venture capital funds invested in the sector was 34 percent higher than in the same period last year. Venture capital investment in the production of energy from biomass increased by a whopping 432 percent.

Wind farms attract a third of all investment in renewable energy, but investment in solar energy is growing the fastest. Since 2004 the annual rate of growth has continued at around 250 percent. The European market attracts the largest amount of new investment in renewable energy, according to UNEP.
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