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Slowdown in global Q4 renewable energy developments

The fourth quarter of 2011 saw a drop in the number of new global energy and renewable energy development proposals compared to both the same period in 2010, and the third quarter of 2011, according to the latest EIC Monitor quarterly report.

By Kari Williamson

The total potential investment value of new energy projects in Q4 2011 is US$260 billion – down 48% on Q3 2011, and down 9% on Q4 2010, while the number of new projects is down 21% compared to Q3 2011.

Steady drop for renewable energy

The renewable energy sector saw a steady drop in projects proposed for development through the year.

The number of new renewable energy projects is down 12% in Q4 2011, while the potential investment value dropped 42% from US$110bn in Q3 2011 to US$64b in Q4 2011.

The UK led the way in the number of new projects with 39 new renewable energy projects potentially worth US$8.2bn, while the US led the way in potential investment value with 20 new renewable energy projects valued at US$8.8 billion.

Major projects include the US$4.2bn De Aar solar power project in South Africa, the US$3.7bon Xayaburi hydropower project in Laos, and the US$3bn Offshore Wind Farm County Down.

Ambitious proposals for 2012

Commenting on the EIC Monitor, Ian Stokes, CEO of the EIC, says: “Looking ahead to the coming year, it is reassuring to see that opportunities exist across all sectors of the energy industry, with ambitious new projects being proposed. It will be interesting to view the results for Q1 2012 and to see if the number of projects proposed increases as they did in Q1 2011, following disappointing Q4 2010 figures, or whether we will continue to see a slowdown in proposals for new projects due in part to the current global economic conditions.”

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