Bloomberg New Energy Finance research has revealed that financing for clean energy projects by the world’s development banks hit $100 billion a year in 2012. The research detailed that banks financed $109 billion in energy efficiency, energy and electrical transmission projects.
The top three financers were the China Development Bank, Brazilian Development Bank and Germany’s KfW. 26 banks were analysed and their investments totaled $425 billion in clean energy investment since 2007.
The research shows that finance for clean energy has grown at a compound rate of 25% per year since 2008, and the trend is expected to rise as more development banks move away from financing fossil fuel projects and towards clean energy.