Green energy investments rose 19% in 2015, U.N. says

STOCKHOLM >> A U.N.-backed report says global investments in solar, wind and other sources of renewable energy reached a record $286 billion last year. For the first time the developing world accounted for the majority.

The United Nations Environment Program on Thursday said renewable investments in developing countries jumped 19 percent to $156 billion in 2015, with $103 billion in China alone.

U.S. investments rose 19 percent to $44 billion, but, overall, investments in developed countries fell 8 percent to $130 billion.

Despite higher investments, renewable energy accounted for only 10 percent of global power generation, most of which comes from coal and natural gas.

Golden State’s pension fund buys into pair of solar farms

SACRAMENTO, Calif. >> The nation’s largest public pension fund is investing in solar power farms near Palm Springs.

The California Public Employees’ Retirement System announced last week that it has agreed to buy up to 25 percent of Desert Sunlight Investment Holdings, which owns two solar energy facilities in Southern California.

CalPERS Chief Investment Officer Ted Eliopoulos says in a statement that the purchase allows the fund to invest in both California and renewable energy.

The agency did not release the price it will pay for its Desert Sunlight stake.