Although there has been a decline in many financial markets around the globe this year due to inflation and soaring interest rates, clean energy remains an attractive investment opportunity, according to a prominent industry executive.
Giannis Komitas, chief operational officer of National Energy Holdings recently made an appearance on the podcast Conversations on Climate to discuss the investment landscape for renewable energy infrastructure.
“Funding has never been as abundant. Everybody wants to go into renewables, and it’s not just the folks that you’ve been traditionally expecting to see there” said Komitas to Chris Caldwell, CEO of United Renewables Limited (URL).
“Decarbonization being a broad agenda…more players want to get a piece of the pie. Renewable energy investment has never been as abundant as it is now,” added Komitas on the October 7 episode, hosted by Caldwell.
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The Conversations on Climate podcast is a platform for renowned industry leaders and scholars to offer their thoughts and opinions on renewable energy and climate change. It is produced by the London Business School and United Renewables.
The conversation arose as resistant industries are beginning to recognize carbon as a potential monetary liability following government actions such as the recent implementation of the United States Inflation Reduction Act.
URL says the claims made by Komitas are reinforced by data presented in the World Energy Investment 2022 report from the International Energy Agency (IEA) showing that clean energy investment revenue is expected to exceed US$1.4 trillion this year, accounting for 75 per cent of all energy investment growth internationally.
The report also states that renewables, grids and storage now account for more than 80 per cent of total power sector investments.
However, despite the recent popularity of green energy investments in Europe, the U.S. and China, developing countries are not observing the same trends. According to the IEA, clean energy spending in many developing economies continues to be stuck at 2015 levels.
National Energy Holdings is a London-based investment company that focuses on solar and wind projects along with other renewable energy endeavours.
United Renewables specializes in planning, constructing and managing renewable energy projects.