The world installed a record 70GW of solar and a near-record 56.5GW of wind in 2016, with acquisition activity also hitting a new high amid surging corporate M&A, says Bloomberg New Energy Finance.

Offshore wind represented “the brightest spot” for new investment, BNEF says, with capital spending commitments for offshore wind farms soaring 40% to $29.9bn thanks to a vibrant European market.

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