* Clean energy investment to reach ${esc.dollar}240 bln in 2011
* Seven African governments to receive EU, UN grant
NAIROBI, Feb 23 (Reuters) - Brazil, China and India are expected to fuel global investments in clean energy in 2011 that are expected to reach ${esc.dollar}240 billion, the head of a United Nation&${esc.hash}39;s green economy initiative said on Wednesday.
The U.N.&${esc.hash}39;s environmental unit (UNEP) said investment in renewable energy hit ${esc.dollar}180-${esc.dollar}200 billion in 2010 up from ${esc.dollar}162 billion in 2009, driven by the three countries.
The increased investments are because sustainable energy is gaining momentum as governments seek cheaper sources -- such as solar, wind and ethanol -- to cushion against rising oil prices.
"Investment may be close to ${esc.dollar}240 billion in clean energy that includes energy efficiency and renewable energy," said Pavan Sukhdev, head of UNEP&${esc.hash}39;s Green Economy initiative.
The United Nations says greening energy supplies needs over ${esc.dollar}360 billion annually.
Adverse effects of climate change have forced countries to look for ways of cutting gas emissions and encouraging eco-friendly systems, Sukhdev told Reuters.
He said the United Nations had a European Union grant to help seven African countries including Kenya, South Africa, and Burkina Faso to formulate policies that would enable the transition to a green economy. (Reporting by Beatrice Gachenge)
Our Standards: The Thomson Reuters Trust Principles.
