The UK fell to 15th place for its investment in clean energy in the first quarter of 2009, down from fifth place last year, according to research.
The UK fell to 15th place for its investment in clean energy in the first quarter of 2009, down from fifth place last year, according to research.
Spain led the world in cleantech investment from January to March, with $3.1 billion raised from private equity, the public markets and bank finance.
It was followed by the US ($1.3 billion), China ($1.2 billion) and Romania ($1.1 billion). The UK raised $200 million, less than Mexico, Bulgaria, or the Dominican Republic, according to the study from research organisation New Energy Finance.
According to New Energy Finance, the cleantech sector has been hit by lower energy prices, the drying up of credit and risk aversion among investors. Investment in the UK has also been affected by a collapse in the value of the pound against other major currencies, raising the cost of EU-manufactured equipment for generating renewable energy.
In 2008, the UK announced $4.6 billion in new funding for renewable energy, propelling it to fifth place in the world, behind only the US, Spain, China and Brazil.
