courtesy Vestas

Investors flocked to renewable energy industries in 2006 like never before, with capital seen streaming into the likes of solar, bio-fuels and wind rising to $100 billion, up $20 billion over 2005.

With no sign of slowing, this “newest gold rush” attracted $71 billion from the private sector, a 43 percent spike over 2005 and 158 percent more than three years ago. The United Nations Environment Programme said Wednesday the forecast for 2007 hinted at $85 billion.

Helping the green cause are government support mechanisms, consumer awareness, global warming scare scenarios and the attraction of organized private equity.

“Capital investors are now more closely aligned with industry proponents in their views of expected growth,” the report said. The information was compiled by New Energy Finance Ltd. for the Paris-based Sustainable Energy Finance Initiative.

Renewable energy produces two percent of world energy but accounts for 18 percent of world investment in power-generation, according to the report.

ws@oilgas24.com