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Renewable Energy Investment Drops 34% to Lowest in Two Years

New investment in renewable energy dropped to the lowest in two years in the first quarter, weighed down by low natural gas prices in the U.S. and subsidy cuts in Europe, Bloomberg New Energy Finance said.

Money flowing into the industry through asset finance, share sales, venture capital and private equity fell more than a third to $31.1 billion in the first three months of the year from a record $47.1 billion in the fourth quarter of 2010, the London-based researcher said today in a statement.