A general view of GE Renewable Energy wind turbines, part of Pattern Energy’s Western Spirit Wind project, the largest wind project in the U.S., near Encino, New Mexico, U.S., March 15, 2023.
Renewable energy funds globally suffered a net outflow of $1.4 billion in the July-September quarter, the biggest ever quarterly outflow, according to LSEG Lipper data.
Reuters GraphicsInvestors have been exiting traditional energy funds, too, but the rate has slowed - net outflows reached $438 million in the last quarter compared with $3.32 billion in the previous three months.
Reuters GraphicsDemand for exposure to renewable energy had been a major driver of cash flowing into climate-related funds in recent years.
Wind projects off Britain, the Netherlands and Norway have been delayed or shelved due to rising costs and supply chain constraints, raising concerns about countries hitting their 2030 renewable energy targets.
Persons:
Bing Guan, Denmark's, Madeline Ruid, Ruid, Morningstar, they're, Rich Pontillo, Patturaja, Tommy Reggiori Wilkes, Simon Jessop, Tomasz Janowski
Organizations:
GE Renewable Energy, REUTERS, Investors, Reuters Graphics, Companies, U.S . Infrastructure, Clean Energy Exchange, Energy, Reuters, Nasdaq, Intelligence, Thomson
Locations:
U.S, Encino , New Mexico, BENGALURU, LONDON, Britain, Netherlands, Norway, Bengaluru, London