Energy investment down in 2015
A new report by the International Energy Agency (IEA) has revealed that global energy investment fell by 8% in 2015. The organisation’s World Energy Investment 2016 report, issued on Wednesday 14 September, suggested that a fall in oil and gas upstream spending had outweighed continuing “robust” investment in renewables, networks, and energy efficiency. The study said that renewable energy investments of nearly $313bn had accounted for almost a fifth of total energy spending last year, and had established renewables as the largest source of power investment. Global gas-fired generation investment was down by nearly 40%.