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Pew: Clean Energy Investment Shifting to Developing Nations (PR Newswire - News Release)

Kenya accounted for nearly all of the additional geothermal plants and investment.

Investment in and deployment of electricity infrastructure is shifting from the industrialized economies of the Northern Hemisphere to the developing economies collectively known as the "global south" and from fossil fuels toward clean energy, according to research released today by The Pew Charitable Trusts.

The report, Power Shifts—Emerging Clean Energy Markets, examines clean energy investment and deployment trends in developing countries. The report finds that 100 nations outside of the Group of 20 and the Organization for Economic Cooperation and Development attracted a total of $62 billion in clean energy investment from 2009 to 2013, much of it in a relatively small number of countries. In fact, almost half (45 percent) of the total five-year investment, $27.9 billion, occurred in 10 markets, where clean energy capacity grew by 91 percent, three times faster than any other supply option, over the five years.

"Developing countries are prioritizing solar, wind, and other renewable energy sources in order to reduce energy poverty, power economic progress, enhance national security by reducing imports, and protect the environment," said Phyllis Cuttino, director of Pew's clean energy initiative.

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