Global investment in new renewable energy projects reached a record in the first half of 2025, up 10% from the previous year, according to the latest investment data collected by BloombergNEF (BNEF) and published in the 2H 2025 Renewable Energy Investment Tracker.
Total investment in new renewable energy projects reached $386 billion in the first half of 2025. Offshore wind was a major contributor, attracting $39 billion, already surpassing the total $31 billion invested in the sector during 2024. Offshore wind financing is largely shaped by large project pipelines and government auction schedules, leading to fluctuations in activity. Higher project costs outside mainland China also supported the rise in committed capital.
While offshore wind expanded, asset financing for utility-scale solar and onshore wind fell 13% compared to the same period in 2024, marking the lowest share of global investment since 2006. Utility-scale solar investment was down 19%, with mainland China, Spain, Greece and Brazil among the hardest-hit markets.
Regional trends showed the USA recording the steepest decline, with new renewable investment down 36% from late 2024, reflecting election-driven policy uncertainty that particularly affected wind. In contrast, the EU-27 saw investment grow by nearly $30 billion, or 63%, as developers shifted focus from US projects to European offshore wind opportunities, especially in the North Sea.
Mainland China remained the largest market, accounting for 44% of global new investment in the first half of 2025.
