Renewable energy fund-raising outpaced non-renewables among private equity funds through April by $2.9 billion. Year-to-date, nine renewable energy funds have closed vs. six non-renewable funds.
Total private capital raised in 2017 for energy funds through April was $6.8 billion, a pace that would result in $20.3 billion for the year, below the $35 billion raised in 2016 and less than half of the $51.9 billion raised in 2015.
Renewable energy funds have gain traction because of their economic viability and growing acceptance of the technology. Low fossil-fuel prices and price volatility driven by greater production, mainly from U.S. shale producers, has made non-renewable funds a less attractive investment.