There are constraints in funding green energy projects, Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, said.

The 23 participating Governments at the 4th Clean Energy Ministerial, which concluded in New Delhi on Thursday, have decided to look into the financing hiccups for clean energy.

The countries would look into different steps such as regulatory changes or support from Government financial institutions to remove bottlenecks.

The next meeting of the forum would take place in Korea next year.

Michael Liebreich, Chief Executive Officer, Bloomberg News Energy Finance, said for the first time in 2012, investments in clean energy dropped globally.

China spent the most, $65.13 billion in 2012, for clean energy, followed by the US ($35.58 billion) and Germany ($22.80 billion). India stands seventh globally having spent $6.85 billion for clean energy in 2012.

The investments in India were down due to policy changes. But, the country is expected to return to growth in 2013, said Liebreich.

According to Liebreich, other than China, other Asian countries such as India and Japan are increasing their spend on creating clean energy sources.

siddhartha.s@thehindu.co.in

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