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Renewables: Companies battle for share of funding pot
The UK's recent decision to make nuclear power a big part of its future energy mix raised concerns that increased investment in that sector might harm funding for renewable energy. However, specialists say if there is a cash crunch it will be linked more to risk averseness among investment institutions than a diminished funding pot. Renewable energy sources still at margins of economic viability, such as wave and tidal power, are likely to find fund-raising most challenging, but even here finance is likely to be available for the right project. In 2005, around $30bn-40bn was invested globally in non-nuclear clean energy, representing 10-20% of the total global spend on all forms of energy. This sort of proportion should be sufficient to enable clean-energy providers to meet their funding requirements, according to Michael Liebreich, chief executive of consultancy and information provider New Energy Finance. "Money is not the problem," he says. "The ...Click here to continue reading Power
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