India and China have led the developing countries in investments made in renewable energy in 2015.
It was revealed by the ‘Global Trends in Renewable Energy Investment’ Report published by the UN Environment Programme (UNEP).
- For the first time commitments of emerging economies in solar, wind and other renewables’ capacity have surpassed those by wealthy nations.
- The developing world committed a total of 156 billion dollars in new renewables capacity in 2015 year, these figures up 19% on 2014.
- Within the developing-economy category, the “Big Three” of India, China and Brazil saw investment rise 16% to USD 120.2 billion.
- In contrast, renewable energy investments by developed countries were down by 8 per cent in 2015 to 130 billion dollars.
- A large part of the record-breaking investment in developing countries took place in China, with its investment commitment up by 17% to 102.9 billion dollars.
- India was also among the top 10 investing countries in renewable energy with its commitments rising 22% to USD 10.2 billion.
- It for the second time since 2011, India enjoyed a second successive year of increasing investment, breaching the USD 10 billion
- United States, Japan, UK Brazil, South Africa, Mexico and Chile also made it to the top 10 investing countries in 2015.