Clean Energy Investment Trends, 2019 · Clean Energy Investment Trends, 2019 January 16, 2020 Late...
Transcript of Clean Energy Investment Trends, 2019 · Clean Energy Investment Trends, 2019 January 16, 2020 Late...
Clean EnergyInvestment Trends,2019
January 16, 2020
Late surge in offshore wind financings helps 2019renewables investment to overtake 2018
$363.3bn19%
Global clean energyinvestment in 2019
Increase in offshore windinvestment compared to 2019
Late surge in offshore wind financings helps2019 renewables investment to overtake 2018
Global new investment in clean energy
A string of billion-dollar deals off coasts of mainland China and Taiwan, andin British, French and Dutch waters, made 2019 an all-time high for offshorewind.
• The late surge in offshore wind financings took capacity investment in thatsector to $29.9 billion, up 19% on 2018 and $2 billion more than in theprevious record year of 2016. The first of France’s offshore wind projects tobe financed, the 480MW, $2.5 billion Saint Nazaire, got its go-ahead in thethird quarter.
• Looking at the overall renewable energy capacity investment figures for2019, wind (onshore and offshore) led the way with $138.2 billion globally,up 6%. Solar was close behind, at $131.1 billion, down 3%.
• China was yet again the biggest investor in renewables, at $83.4 billion in2019, but this was 8% down on 2018 and the lowest since 2013. It saw a10% rise in wind investment to $55 billion, but solar fell 33% to $25.7 billion,less than a third of the boom figure reached in 2017.
• BNEF’s wider-definition of total clean energy investment, which includesmoney going into research and development, and into specialist companiesvia public market share issues and venture capital and private equity deals,was $363.3 billion in 2019, fractionally up on the previous year’s revised$362.5 billion.
• Within this total, public markets invested $9.3 billion in clean energy, 13%less than in 2018, while VC/PE investors put in $10.5 billion, up 6% andtheir highest figure since 2010. U.S. electric car companies accounted forthe biggest deals in both categories: Tesla with an $862.5 million publicmarket secondary issue, and Rivian Automotive with a $1.3 billion privateequity round.
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Contents
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Definitions and FAQs
Quarterly trends, new investment
Quarterly trends, funds in circulation
Top deals
Annual trends, new investment
Quarterly trends,new investmentQuarterly trends since 1Q 2006
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Global new investment in cleanenergy1Q 2006 - 4Q 2019
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2006Q3
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2007Q1
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$bn
Four quarter running average
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Quarterly trends, new investment
Global new investment in cleanenergy, by region1Q 2006 - 4Q 2019
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2006Q2
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2006Q4
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2007Q3
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2008Q1
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AMER EMEA APAC
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Quarterly trends, new investment
Global new investment in cleanenergy, by sector1Q 2006 - 4Q 2019
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2006Q2
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2015Q1
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2019Q3
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0
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30
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60
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$bn
Solar Wind Biofuels Other
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Quarterly trends, new investment
Global new investment in cleanenergy, by asset class1Q 2006 - 4Q 2019
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0
10
20
30
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90
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Asset Finance Small Scale Solar Public Markets VC&PE
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Quarterly trends, new investment
Global new investment in cleanenergy, VC/PE1Q 2006 - 4Q 2019
2006Q1
2006Q2
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0
2
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6
8
10
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16
18
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VC Late Stage VC Early Stage PE Expansion
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Quarterly trends, new investment
Global new investment in cleanenergy, public markets1Q 2006 - 4Q 2019
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2017Q1
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2017Q3
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2018Q1
2018Q2
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2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
IPO Secondary & PIPE OTC Convertible & Other
9
Quarterly trends, new investment
Global new investment in cleanenergy, AMER1Q 2006 - 4Q 2019
10
Quarterly trends, new investment
Solar Wind Other
2006Q1
2006Q2
2006Q3
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2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
5
10
15
20
25
30
35
40
45
50
$bn
Global new investment in cleanenergy, EMEA1Q 2006 - 4Q 2019
11
Quarterly trends, new investment
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
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2008Q1
2008Q2
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2014Q1
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2016Q4
2017Q1
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2018Q1
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2018Q4
2019Q1
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2019Q4
0
5
10
15
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25
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$bn
Solar Wind Other
Global new investment in cleanenergy, APAC1Q 2006 - 4Q 2019
12
Quarterly trends, new investment
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
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2009Q1
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2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
5
10
15
20
25
30
35
40
45
50
55
$bn
Solar Wind Other
New investment in clean energyUnited States1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
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2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
5
10
15
20
25
30
35
40
45
50
$bn
Four quarter running average
13
Quarterly trends, new investment
New investment in clean energyUnited States, by sector1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
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2018Q1
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2018Q4
2019Q1
2019Q2
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2019Q4
0
5
10
15
20
25
30
35
40
45
50
$bn
Solar Wind Other
14
Quarterly trends, new investment
New investment in clean energyEurope1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
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2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
5
10
15
20
25
30
35
40
45
50
$bn
Four quarter running average
15
Quarterly trends, new investment
New investment in clean energyEurope, by sector1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
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2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
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2012Q4
2013Q1
2013Q2
2013Q3
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2014Q1
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2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
5
10
15
20
25
30
35
40
45
50
$bn
Solar Offshore Onshore Other
16
Quarterly trends, new investment
New investment in clean energyChina1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
5
10
15
20
25
30
35
40
45
50
$bn
Four quarter running average
17
Quarterly trends, new investment
New investment in clean energyChina, by sector1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
5
10
15
20
25
30
35
40
45
50
$bn
Solar Wind Other
18
Quarterly trends, new investment
New investment in clean energyAustralia1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
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2012Q1
2012Q2
2012Q3
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2015Q1
2015Q2
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2017Q1
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2017Q3
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2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
Four quarter running average
19
Quarterly trends, new investment
New investment in clean energyBrazil1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
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2010Q1
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2011Q3
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2012Q1
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2014Q1
2014Q2
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2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
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2017Q1
2017Q2
2017Q3
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2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
Four quarter running average
20
Quarterly trends, new investment
New investment in clean energyFrance1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
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2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
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2013Q1
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2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
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2017Q1
2017Q2
2017Q3
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2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
Four quarter running average
21
Quarterly trends, new investment
New investment in clean energyGermany1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
Four quarter running average
22
Quarterly trends, new investment
New investment in clean energyIndia1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
Four quarter running average
23
Quarterly trends, new investment
New investment in clean energyJapan1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
Four quarter running average
24
Quarterly trends, new investment
New investment in clean energyUnited Kingdom1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
0
2
4
6
8
10
12
14
16
18
20
$bn
Four quarter running average
25
Quarterly trends, new investment
Quarterly trends,funds in circulationQuarterly trends since 1Q 2006
26
Global clean energy, funds incirculation, by region1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
05
10
15
20
25
30
35
40
45
50
5560
$bn
EMEA APAC AMER
27
Quarterly trends, funds in circulation
Global clean energy, funds incirculation, by sector1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
05
10
15
20
25
30
35
40
45
50
5560
$bn
Solar Wind Other Biofuels
28
Quarterly trends, funds in circulation
Global clean energy, funds incirculation, by asset class1Q 2006 - 4Q 2019
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
05
10
15
20
25
30
35
40
45
50
5560
$bn
Asset fin acq & refin Corporate m&a PM exits PE buy outs
29
Quarterly trends, funds in circulation
Top deals
Top deals for 2019
30
Top asset finance deals2019
31
Top deals
Project Name Country Sector Capacity Value
Al Maktoum IV Tower and Parabolic trough STEG PlantUnited ArabEmirates Solar 700MW $3,900
EDF and ESB Neart na Gaoithe Offshore Wind Farm United Kingdom Wind 432MW $3,422
Wpd & Starwind Offshore Yunlin Offshore Wind Farm Taiwan Wind 640MW $3,028
EDF Enbridge Saint Nazaire Offshore Wind Farm France Wind 480MW $2,539
Swancor & Macquarie Formosa II Miaoli Offshore Wind Farm Taiwan Wind 376MW $2,045
Abc
Abc
Abc
Abc
Abc
Top venture capital & private equity deals2019
32
Top deals
Project Name Country Sector Type of Transaction Value
Rivian Automotive Inc United States Energy smarttechnologies PE Expansion $1,300
Lucid Motors Inc United States Energy smarttechnologies PE Expansion $1,000
NorthVolt AB SwedenEnergy smarttechnologies PE Expansion $1,000
Greenko Energy Holdings India Solar PE Expansion $824
Rivian Automotive Inc United States Energy smarttechnologies VC Late Stage $700
Top public market deals2019
33
Top deals
Project Name Sector Type of Transaction Equity Raised
Tesla Inc Energy smart technologies Secondary $863
NIO Energy smart technologies Convertible $650
Greencoat UK Wind PLC/Funds Wind Secondary $488
Xinyi Energy Holdings Ltd Solar IPO $466
Sterling & Wilson Solar Ltd Solar IPO $414
Annual trends, newinvestmentAnnual trends since 2006
34
Global new investment in cleanenergy2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
120.1
168.2200.7 195.1
270.8
322.8289.7
266.8
327.7356.5 344.5
392.4362.5 363.3
$bn
35
Annual trends, new investment
Global new investment in cleanenergy, by region2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
172
143 109124
104
163
106126
192 180
230186
80
82 74
87
85
47
86 84
86
74
86
82 90
76
9288
30 41 52
43
79 94
57
62
71
49
6875
67
62
$bn
APAC EMEA AMER
36
Annual trends, new investment
Global new investment in cleanenergy, by sector2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
123
141
111
120133
133 143
148
102
160 144120
177146
181144
77
59
74 72
9850
7883
26
26
83
37
46
49
22 3761
61
69
6058
63
35
5773
75
83
64
$bn
Solar Wind Other Biofuels
37
Annual trends, new investment
New investment in clean energyUnited States2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
34.9
40.343.8
35.4
47.3
64.8
54.5
48.653.4
61.359.0
65.8 65.1
78.3
$bn
38
Annual trends, new investment
New investment in clean energyUnited States, by sector2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
34.9
40.343.8
35.4
47.3
64.8
54.5
48.653.4
61.359.0
65.8 65.1
78.3
$bn
Wind Solar Other
39
Annual trends, new investment
New investment in clean energyEurope2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
45.6
69.8
84.7 83.4
120.0
139.7
99.6
67.1
78.571.2
83.6
63.9
78.3 76.4
$bn
40
Annual trends, new investment
New investment in clean energyEurope, by sector2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
45.6
69.8
84.7 83.4
120.0
139.7
99.6
67.1
78.571.2
83.6
63.9
78.3 76.4
$bn
Onshore Offshore Solar Other
41
Annual trends, new investment
New investment in clean energyChina2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
10.717.4
26.2
37.445.9 48.8
60.666.6
92.8
124.6115.7
162.4
110.1100.4
$bn
42
Annual trends, new investment
New investment in clean energyChina, by sector2006 - 2019
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
10.717.4
26.2
37.445.9 48.8
60.666.6
92.8
124.6115.7
162.4
110.1100.4
$bn
Solar Wind Other
43
Annual trends, new investment
Definitions and FAQs
How BloombergNEF defines clean energy
44
DefinitionsAsset classes
45
Definitions and FAQs
Venture capital and private equity (VCPE)Early and late stage venture capital funding rounds of pure play clean energy companies as well as funds raised privately for the purposes ofexpansion.
Public markets (PM)Funds raised by publicly quoted or OTC quoted pure play clean energy companies on the capital markets. This may be through IPOs or follow-onofferings like secondary offerings, private investment in public equity or PIPEs, convertibles etc.
Asset financeThe new build financing of renewable energy generating projects as well as smart metering and energy storage projects - smart metering andenergy storage investment are only reported annually. Renewable energy generating projects includes both electricity generating and biofuelsproducing assets. Projects may be financed off the owner's balance sheet, or through financing mechanisms such as project finance, syndicatedequity from institutional investors, or project bonds underwritten by banks.
Re-invested equityIsolates values for balance sheet-financed project investments by companies who have raised money privately or publicly over the past 12months. The purpose of this category is to prevent double counting of money raised publicly or privately that has been invested in clean energyassets.
Small scale solarGiven the technical limitations in tracking small-scale solar projects, BloombergNEF's asset finance database excludes projects below roughly1MW. Unlike utility scale asset investment, small-scale solar investment is based on top-down analyst estimates.
Government R&DGovernment r&d figures are sourced from the IEA, IMF, OECD, and various government agencies.
Corporate R&DThe Bloomberg Terminal is used to source corporate r&d figures for key quoted companies in all clean energy sectors.
DefinitionsSectors
46
Definitions and FAQs
Wind Electricity generation using wind turbines. Included in this sector, are players across the entire value chain of both onshore and offshoredevelopments. From manufacturers of turbines, components and subassemblies to developers, generators, utilities and engineering firm.
SolarAll technologies which capture energy directly from the sun. These include production of electricity using semiconductor-based photovoltaic (pv)materials, use of concentrated sunlight to heat fluids that drive power generation equipment (solar thermal), and passive methods which usesunlight to heat water. Whilst company level investment of passive methods is recorded, investment in passive projects is not.
Biofuels Liquid transportation fuels including biodiesel and bioethanol. These can be derived from a range of biomass sources, including sugar cane, rapeseed, soybean oil or non-food cellulosic feedstock. Our database excludes producers of base biomass, but includes suppliers of everything fromthe processing technologies and equipment, through the logistics of distribution, to manufacturers of energy systems which are specially adaptedfor the use of biofuels and products, and the services on which they depend.
Biomass & wasteElectricity and/or heat produced with bio-based feedstocks, typically through incineration but also through more advanced processes likegasification or anaerobic digestion. This sector also includes waste-to-energy which includes energy produced through landfill gas projects andincineration of municipal and industrial waste.
Energy smart technologiesThis sector covers technologies like digital energy, smart grids, power storage, hydrogen and fuel cells, advanced transportation and energyefficiency on both the demand and supply side.
Other renewablesIncludes small hydro - hydro projects with capacities smaller or equal to 50MW; geothermal - extraction of useful power from heat stored in theearth; marine - the extraction of tidal, wave and thermal energy from the ocean.
FAQs
47
Definitions and FAQs
Q1: Why is there a difference between the sum of the quarterly figures and the annual figures?Quarterly figures do not include certain asset classes which we only produce annually. These asset classes are corporate and government r&dand asset finance for energy smart technologies, in other words, smart meters and energy storage investment
Q2: Which countries are included in Europe?Europe includes all 28 EU countries, and non-EU countries like Switzerland, Norway, Turkey and Russia. The majority of clean energyinvestment stems from the EU though
Download the underlying data andcreate your own chartsBloombergNEF clients can navigate to the web platform (BNEF.com) or run BNEF <GO> in a terminal window to download the relevant data thatsupplies this publication. Customizable charts and data sets are available for further insight relating to clean energy investment.
48
Run BNEF <GO>, click "BNEF Tools", click "Clean Energy" and select"Investment"
Log onto BNEF.com, hover over "Flagship" and click"Clean Energy Investment"
49
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