India's clean energy investment weakens

Indian investment in renewable energy in the third quarter is 16 percent less from the second quarter and 60 percent less from a year ago.

The quarter saw wind farm financing drop and the pace of spending easing in India and the US.

The industry is suffering from excess capacity that's driven down prices for solar panels and wind turbines, meaning developers pay less to install each megawatt of capacity.

Governments are paring support for the industry across the US, India and Europe after a record US$280 billion was invested in clean and low-carbon technologies in 2011.

"The location of some of the biggest projects financed in quarter three this year highlight the geographical shift that is taking place in clean energy, with established markets such as the US, Europe and China losing momentum while newer markets in South America, Asia and Africa pick up steam," said Michael Liebreich, CEO of New Energy Finance.

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