GLOBAL TRENDS IN RENEWABLE ENERGY INVESTMENT 2018 June 25, 2018 Christine Grüning*

*Das Projekt wird vom Bundesministerium für Umwelt,

47.0

72.7

112.7

158.9

181.4 178.3

243.6

287.8

255.5

234.4

284.3

323.4

274.0 279.8

55% 55% 41% 14% -2% 37% 18% -11% -8% 21% 14% -15% 2%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Corporate R&D

Government R&D

VC/PE

Public markets

Small distributed capacity

Asset finance*

Growth:

Global new investment in renewable energy by asset class, 2004-2017, $bn

2

*Asset finance volume adjusts for re-invested equity. Total values include estimates for undisclosed deals.

Source: GTR 2018, Frankfurt School-UNEP Centre, UN Environment, Bloomberg New Energy Finance

Global transactions in renewable energy, 2017 $bn

3 Footnote: SDC = small distributed capacity. Total values include estimates for undisclosed deals. Figures may not add up exactly to totals, due to rounding. Source: GTR 2018, Frankfurt School-UNEP Centre, UN Environment, Bloomberg New Energy Finance

1,0 4,8 5,1 0,8 5,7 17 (3)

216

49 280

114 394

VC Corp RD&D

Total investment

SDC* Asset finance

Gov R&D

Public markets

new equity

M&A /B-O etc.

Total transactions

Re-invested

Total company investment

PE

Technology Scale-up

Projects

Asset and company mergers, acquisitions, refinancing, buy-outs

Global new investment in renewable energy: split by type of economy, 2004-2017, $bn

4 Footnote: New investment volume adjusts for re-invested equity. Total values include estimates for undisclosed deals. Developed volumes are based on OECD countries excluding Mexico, Chile, and Turkey. Source: GTR 2018, rankfurt School-UNEP Centre, UN Environment, Bloomberg New Energy Finance

7 15

22 33

42 50

58

72 74 74

101

138

116

144

3 6 8 11 16 13 20 19

29 27 32

40 31 33 38

52

83

115 123

115

165

197

152

133

151 146

126

103

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

China, India & Brazil

Other developing

Developed

China 126,6 $bn

Global new investment in renewable energy by region, 2017, $bn

5 Footnote: New investment volume adjusts for re-invested equity. Total values include estimates for undisclosed deals. Source: GTR 2018, Frankfurt School-UNEP Centre, UN Environment, Bloomberg New Energy Finance

Renewable energy investment in Middle East and Africa by country, 2017, and change on 2016 $bn

6 Source: GTR 2018, Frankfurt School-UNEP Centre, UN Environment, Bloomberg New Energy Finance

0.1

0.2

0.4

1.1

1.8

2.6

-88%

-48%

8665%

26%

2815%

495%

South Africa

Morocco

Rwanda

Jordan

United Arab Emirates

Egypt

Growth:

7

Renewable energy asset finance and small distributed capacity investment by sector, 2017, and growth on 2016 $bn

Footnote: Total values include estimates for undisclosed deals. Source: GTR 2018, Frankfurt School-UNEP Centre, UN Environment, Bloomberg New Energy Finance

45

0

0.1

1.4

3.0

3.0

104

154

108%

0 in 2017

-52%

-36%

-15%

-52%

-10%

18%

Large hydro

Marine

Biofuels

Geothermal

Small hydro

Biomass & w-t-e

Wind

Solar *Small distributed capacity

Growth:

Thank you!

8