Electricity Investment Overtakes Oil and Gas Worldwide

Electricity investment has overtaken oil and gas for the first time ever according to a report issued Tuesday by the International Energy Agency.

Investment in the electricity sector grew by 12 percentage points to reach 43 percent between 2014 and 2016. The IEA said fossil fuels are no longer the largest recipient of investment in the energy sector.

China is still the largest recipient of energy investment representing 21 percent of the global share.