Caribbean, Latin America See Spike In Share Of Global Clean Energy Investment

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News Americas, WASHINGTON, D.C., Fri. Oct. 18, 2013: Latin American and the Caribbean region saw an increase in wind, solar, biomass, small hydro, geothermal and other renewable power generation, and biofuels energy investments last year.

That’s according to Climatescope 2013, a new report from the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group and Bloomberg New Energy Finance (BNEF).

The region saw 6 percent of the total $268.7 billion bn invested worldwide in clean energy in 2012, up from 5.7 percent in 2011.
“Total financing outside Latin America’s largest country jumped to 45 percent in 2012 from 17 percent in 2011, as Chile, the Dominican Republic, Mexico and Uruguay, among others, posted outsized growth rates,” said Michael Liebreich, chief executive of Bloomberg New Energy Finance.

Still, Brazil had the highest overall composite Climatescope score on the strength of its top rankings on the survey’s Low-Carbon Business and Greenhouse Gas Management parameters. This marked the second year that Brazil ranked first overall in Climatescope.

Chile moved up three positions, to second place overall, after its renewable investment more than quadrupled, to $2.1 billion, from 2011 to 2012.

Nicaragua, with the region’s second-lowest GDP per capita, finished third overall with a strong showing in the Enabling Framework and Clean Energy Investment and Climate Financing parameters.

The top Climatescope score for a Caribbean nation was earned by the Dominican Republic, which saw a year-over-year doubling of clean energy investment to $645 million. This helped the country advance seven slots up the leader board from the 2012 rankings – more than any other Climatescope country.