News and information giant Bloomberg L.P. has acquired New Energy Finance, a provider of news, data and analysis on renewable and alternative energy.
Financial terms were not disclosed.
The acquisition is further proof that the renewable energy sector is enroute to becoming a central component of the global economy.
Last week Bloomberg competitor Thomson Reuters acquired ASSET4 AG, a Swiss-based, provider of Environmental, Social Responsibility and Governance (ESG) information and tools for professional investors and corporate executives.
"Carbon and clean energy issues touch every segment of the global economy, and are of increasing importance to our customers," said Peter T. Grauer, chairman of Bloomberg.
New Energy Finance was founded in 2004 and serves banking, private equity and venture capital investors, asset managers, manufacturers, oil and gas companies, utilities, NGOs, development banks and governments.
"The thesis behind New Energy Finance is that we are seeing a fundamental re-engineering of the world’s energy industry around low-carbon architectures, which will take decades, cost trillions of dollars and require the creation of new market instruments," said Michael Liebreich, chairman and CEO of New Energy Finance. "
Guy Turner, director of carbon market research at New Energy Finance, said, "Global carbon markets are here to stay. This year will see trading volume of around $120 billion, and we expect this figure to grow to approximately $2 trillion by 2020."
Bloomberg’s media services cover the world with more than 2,200 news and multimedia professionals at 146 bureaus in 72 countries.
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