According to a report released recently by the United Nations Environment Programme (UNEP), although the global renewable energy project is still growing in 2016, the total investment in other renewable energy projects except for hydropower projects, including solar and wind energy, has sharply fallen. It is expected that this trend is likely to continue, the correction period of renewable energy market will soon appear.
According to the report, other renewable energy projects except for hydropower, a total new generation capacity is 138.50 thousand megawatts with an increase of 8% than 2015, but the total investment is 241.6 billion US dollars, with a decrease of 23% than 2015. The decline in investment in solar power projects is particularly significant decline, down 34% year on year, with the total size of 113.7 billion US dollars. The report indicated that there was significant decline after they all reached their peak in 2015, as for the world's two largest solar power financing markets, China and Japan. But they turned to have a greater interest in Sunshine Zone in the Middle East. Recently Sino-Japanese Enterprise Consortium won the bidding of Abu Dhabi 350 megawatts of MW Swihan solar photovoltaic power plant project.
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