Almost $70bn was invested globally in clean power in the third quarter of 2017, up 40% on the $47.8bn in the same period last year, according to Bloomberg New Energy Finance (BNEF).

BNEF said seven giant wind projects – each costing between $600m and $4.5bn – in Australia, China, Germany, Mexico, the UK and US helped boost investment in the quarter.

Investment in green energy is currently running 2% above the same period last year and is likely to be close to or above the 2016 total of $287.5bn.

However, BNEF said 2017 is unlikely to match the record $348.5bn invested in the sector in 2015. 

Utility-scale projects accounted for $54.3bn of the investment in the third quarter, with small-scale projects – solar of less than 1MW – $10.8bn.

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