N.J. firms pouring billions into wind, solar ventures

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Investors chasing high returns like to get in early on the next big thing. For some pioneering firms in New Jersey, that means multimillion dollar bets on clean energy.

From Short Hills to Princeton, public and private companies are committing their own capital, or that of large investors, to building wind and solar farms and developing other types of renewable power, as well as smart-grid and energy-storage technologies.

Despite the worldwide recession, total venture capital and private equity investment in clean energy went up 24 percent in the first quarter of 2010, according to Bloomberg New Energy Finance.

In the past nine years, venture capital investment has grown from $350 million to more than $2 billion. The numbers are even larger when they include public market investment, corporate mergers and acquisitions and other types of investors.

"We continue to anticipate $180 to $200 billion in new investment in clean energy this year," said Michael Liebreich, chief executive of Bloomberg New Energy Finance.

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N.J. firms pouring billions into wind, solar ventures | NJ.com