World Bank reports $1.3 bn in private sector investment into geothermal in 2015
With a major shift towards low carbon investments, geothermal energy saw a private sector investment volume of $1.3 billion in 2015 or about 5% of all renewable energy investments.
According to a new report by the World Bank, investments in renewable energy made up more than half of all private investments in 2015. This clearly signals a shift towards low-carbon development.
Global private investments held relatively steady from 2014 to total $111.6 billion last year. Investments in renewable energy, however, were higher in 2015 than during the past five years.
“According to its breakdown, the World Bank found South Africa and Morocco led for African investments in renewable energy, Chile led in the Americas and China led the Asian market. By sector, total investments in solar were $9.4 billion, $9.4 billion for wind, $2.9 billion for hydroelectric projects and $1.3 billion for geothermal energy.
“Energy investments accounted for about 34 percent of all global private transactions in 2015, though last year it was the transportation sector that took up the most of the capital. Turkey last year closed on two megadeals in the transportation sector, including the $35.6 billion investment in a new airport.”
Of all private sector energy investments, about 63% went into renewable. Of all renewables the vast majority or about 83% went evenly into solar and wind, while geothermal investments represent about 5% of all renewable energy investments.
Turkey by far saw the most investment and while most of it went into transportation, one of the major three deals in energy was a geothermal investment.
Source: World Bank