Investment in wind power fell 12 per cent in 2017 to US$107 billion – the lowest since 2013 – as total investment in clean energy increased three per cent to US$333.5 billion.
In its annual report, data analyst Bloomberg New Energy Finance (BNEF) found solar experienced a 17 per cent increase to $160.8 billion, with more than half occurring in China.
As in 2016, the largest deals were made in the offshore wind sector.
Ørsted (formerly Dong Energy) completed the finance for its $4.8 billion Hornsea Project Two site in the UK, while Chinese offshore wind projects totalling 3.7GW contributed $10.8 billion.
Other projects noted by BNEF included a $1.55 billion investment in Northland Power's 252MW Deutsche Bucht offshore site, $1.91 billion on EnBW's 497MW Hohe See projects off Germany's coast, and $2.9 billion for the 2GW Wind Catcher site in Oklahoma.
