By Renewable Energy Focus staff

According to the EIC Monitor, in the renewable sector the number of new projects increased significantly from 135 in Q4 2010 to 225 in Q1 2011.

The potential investment value of new projects has increased accordingly, up by 56% from US$97.5 billion to US$152 billion.

Commenting on the EIC Monitor, Mike Major, CEO of the EIC said, “this is good news for the energy industry overall. Yet again we are seeing positive signs across the board with these figures building on the previous quarter’s figures to provide a solid foundation for a sustainable recovery. The oil & gas and renewables sectors are continuing their upward trend and the power sector is showing signs of recovery from the dramatic drop in new project announcements we saw last quarter.”

About the Monitor:

EIC Monitor tracks over 8,500 active and future projects in the global energy industry and provides an industry barometer, broken down into oil and gas (downstream, midstream, upstream), nuclear and conventional power, and the renewables sectors. Data is analysed by the number and value of new, active and proposed projects recorded by the EIC each quarter.