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ePaper created 2014-06-03, 15:03:20 | version 1.30.01
187 03 RENEWABLES 2014 GLOBAL STATUS REPORT INVESTMENT FLOWS 1 China Electricity Council, provided by Shi Pengfei, China Wind Energy Association, personal communication with REN21, 12 March 2014; China Electricity Council, Planning and Statistics Department, “2013 National Electricity Industry Statistics,” 26 January 2014, http://www.cec.org.cn/guihuayutongji/tongjxinxi/ yuedushuju/2014-01-26/116224.html (using Google Translate). 2 The BNEF estimate for investment in large hydropower (>50 MW) is based on at least 20 GW of capacity commissioned during 2013 and a capital cost per MW of USD 1.75 million, bringing the total investment in large hydropower to USD 35 billion. The figure USD 1.75 billion per GW is the average value based on numbers provided by developers of large hydro projects in applications for the Clean Development Mechanism. Estimates are approximate only, due greatly to the fact that timing of the investment decision on a project may be about four years on aver¬age away from the moment of commissioning. As a result, a large share of the investment total for the projects commissioned in 2013 was actually invested in prior years; in addition, there was investment during 2013 for projects that are currently under construction and are not included in the BNEF estimates. Note that data for hydropower projects larger than 50 MW differ somewhat between this GSR and the Global Trends in Renewable Energy Investment 2014 due to different methodologies and data sources. This GSR estimates that about 40 GW of total hydropower capacity was commissioned worldwide during 2013, and a significant portion of this was projects larger than 50 MW (see Hydropower section in this report), whereas BNEF estimates that at least 24 GW of hydro capacity was commissioned in 2013, including more than 20 GW of large projects (>50 MW). Taking the BNEF estimate that 4 GW hydropower capacity <50 MW was added, that means as much as 36 GW of capacity >50 MW was added during 2013. 3 Note that these dollar amounts for capacity investment are based on BNEF estimates that some 81 GW of new capacity (not including hydropower >50 MW) was added in 2013, down from an estimated 88 GW in 2012. These numbers are not necessarily consistent with capacity data provided elsewhere in the GSR. 4 For more information, see “Green Bond Principles 2014: Voluntary Process Guidelines for Issuing Green Bonds,” http://www.ceres.org/resources/reports/green-bond-principles- 2014-voluntary-process-guidelines-for-issuing-green-bonds/ view. ENDNOTES 03 INVESTMENT FLOWS