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Clean-Energy Spending Rose in Third Quarter on Wind

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Oct. 13 (Bloomberg) -- Private investment in clean-energy projects rose 11 percent in the third quarter as lending for offshore wind projects increased, Bloomberg New Energy Finance said.

New loans and equity for low-carbon power projects reached $37.9 billion compared with $34 billion in the same period of 2009, the London-based research group said in an e-mailed statement. Investment in the second quarter was $33.9 billion.

The clean-energy industry may attract record spending of almost $200 billion this year when government outlays are included, New Energy Finance forecast. Governments from Berlin to Beijing are promoting wind and solar power to reduce the emission of greenhouse gases. Germany plans to lower gas discharges by 40 percent over the next decade. China, the world’s biggest air polluter, may spend about 5 trillion yuan ($750 billion) over the period.

“The latest hot spot is infrastructure spending for North Sea offshore wind,” New Energy Finance Chief Executive Michael Liebreich said in the statement. “It is reassuring to see billions being committed, although this is only the start.”

Asset finance reached a record $32.8 billion, with $1.9 billion invested in cables to connect wind generators in the North Sea to the German mainland. China also posted a record, with $13.5 billion invested mainly in wind generators. Clean energy investment slipped to $162 billion last year from $173 billion in 2008.

New Energy Finance is the London-based analysis arm of Bloomberg LP.

To contact the reporter on this story: Ben Sills in Madrid at bsills@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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