Renewable energy investment held firm in the third quarter, indicating the industry is weathering a slump in the cost of oil and coal. Financing for projects including wind, solar, biofuels and biomass fell 1 percent to $70 billion worldwide, compared with the same period a year ago, according to Bloomberg New Energy Finance. For the first nine months of the year, investment eased 2 percent to $197.9 billion, the London-based researcher estimated. Surging interest in the U.S., Brazil and China offset a 48 percent plunge in funding for projects in Europe, long the leader in clean-energy technologies. The industry’s capital needs declined because of a drop in the cost of wind power plants, which in the U.K. and Germany are now competitive with fossil fuels even without subsidies. Industry executives will discuss the trends at a conference hosted by New Energy Finance in London next week. “On a global […]