These numbers do nonetheless indicate that Governments favour renewables, since, excluding grid investments, Government subsidies for modern renewables amounted to $9.7/GJ compared with $0.8/GJ for fossil fuels. Note: The IEA New Policies Scenario assumes cautious implementation of recently announced commitments and plans, even if not yet officially adopted. These investments were dominated by electricity generation, transmission and distribution (51 per cent) as well as upstream investments in fossil fuel supply (46 per cent), including the oil exploration and production component and the gas exploration and production component which accounted for 19 and 13 per cent, respectively. The most important renewables investments were in large-scale hydropower (annual capacity additions of 25-30 gigawatts (GW)) and biofuels ($20 billion, of which $8 billion was for Brazil’s ethanol).