If private investment is an indicator of what is in vogue (and profitable), renewable energy is certainly trending. At the UN Climate Change Conference the independent US government agency, the Overseas Private Investment Corporation (OPIC), announced that it committed $1.1 billion in financing for the renewable sector during fiscal year 2011, up from just $10 million in 2008.
OPIC works to mobilize private sector investments in emerging markets; supporting projects that both benefit the social and economic development of the host country, as well as create growth and jobs for the US. This year, clean energy projects drastically increased, with investment in everything from solar power to biomass production. Keep reading →