Clean-energy investment in Asia rose during the global recession in 2009, surpassing the Americas for the first time as China installed wind turbines and solar panels to replace coal-burning power plants. Energy systems using the sun, wind and biofuels in the Asia-Pacific region attracted $37.3 billion, up 25% from 2008, according to data from Bloomberg New Energy Finance. Spending fell by the same rate in North and South America to $32 billion.
Chinese asset-finance investment in wind turbines rose 27% to $21.8 billion and in solar almost doubled to $1.9 billion, according to Bloomberg New Energy Finance.
The biggest producer of greenhouse gases from burning fossil fuels hosted the largest renewable-energy initial public offering last year as China Longyuan Power Group Corp. raised more than $2 billion.
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