Author Archive: Tim Buckley

Director of Energy Finance Studies, Australasia, Tim Buckley has 25 years of financial markets experience, specializing in equity valuation, including as a top-rated analyst and as co-founder and managing director of Arkx Investment Management.

IEEFA Report: A Renewables Path to Japanese Energy Security in a Post-Nuclear Era

IEEFA Report: A Renewables Path to Japanese Energy Security in a Post-Nuclear Era

Eliminating High-Risk Dependence on Imported Fuels; Exploiting Domestic Technology Advantages; Avoiding Stranded Assets in Misguided Coal Projects

We’ve just published a report that details how Japan’s post-nuclear electricity-generation economy can be viably retooled around renewable energy. Our report—“Japan: Greater Energy Security Through Renewables: Electricity Transformation in a Post-Nuclear Economy”—emphasizes the potential for national energy security through renewables, most especially wind and solar. This report documents how government policies adopted in the wake […]

IEEFA Update: Global Energy-Finance Transition Gains Steam

Electricity-Generation Technologies of the Past Century Are Growing Increasingly Unappealing to Investors

[Editor’s note: This column is taken from a speech last month to the Australian Senate on its inquiry into the retirement of coal-fired power stations] Good afternoon and thank you for allowing me the opportunity to speak on the critically important topic of Australian coal-fired power station retirements, particularly as it relates to energy system […]

March 7, 2017 Read More →

IEEFA Update: China Is Now Three Years Past Peak Coal

Declines in Consumption and Production Show an Economy Decoupling From Energy Demand

With official word this week from the China National Bureau of Statistics that the world’s biggest user of coal reduced its consumption in 2016 by 4.7 percent comes another signal that the Chinese electricity transformation continues apace. The trend has three years of history to it now, which is to say China is three years […]

February 28, 2017 Read More →
IEEFA Norway: Why the World’s Biggest Sovereign Wealth Fund Should Invest in Global Renewable Energy Infrastructure

IEEFA Norway: Why the World’s Biggest Sovereign Wealth Fund Should Invest in Global Renewable Energy Infrastructure

The Sector is Growing, Returns Are Reliable, the Outlook is Positive

We published a report this morning that highlights how Norway is at a historic crossroads in how it manages some of its vast national wealth bound up in the Government Pension Fund Global (GPFG). Indeed, GPFG is facing an unusually opportune moment this summer, as Parliament considers whether to enact a mandate that would have […]

IEEFA Update: Adani Has Gone Quiet on Its Australia Coal Mega-Project

Developer Lacks the Capacity to Go Forward on Carmichael

The latest quarterly financial report from Adani Enterprises Ltd. is illuminating in no small part for what it does not say. Adani is the company that for years has championed construction of the proposed Carmichael project in Australia, a multi-billion-dollar undertaking that would purport to supply coal to India. Yet the project gets no acknowledgement […]

and February 17, 2017 Read More →

IEEFA India: A Momentous Solar Event

Signs of a Fundamental Market Shift; Implications for Emerging Markets Everywhere

A matter of hours after we commented this week on a record low bid for solar project development in India, that record fell again. The three winning bids for the 750MW auction, by Mahindra Renewables, Acme Solar, and Solenergi Power, came in at below Rs2.97-Rs2.979/kWh. Bidding opened at Rs3.59-3.64/kWh. The results, for rights to develop […]

February 10, 2017 Read More →

IEEFA India: Latest Record-Low Bids Underscore Solar’s Commercial Viability

International Coal Markets Are at Risk as Transformation Continues

As India was crossing the 50-gigawatt (GW) threshold for cumulative installed renewable energy capacity (excluding large hydro), the initial bids for its first major solar auction of 2017 were announced—and came in at a record low Rs3.59-3.64/kWh this week. That’s down 16 percent year on year against the previous record low bid. This trend is not […]

February 9, 2017 Read More →
IEEFA Asia: More Bad Numbers for Adani; a Renewables Merger in India; Change of Note in China

IEEFA Asia: More Bad Numbers for Adani; a Renewables Merger in India; Change of Note in China

Why a Massive Proposed Coal Project Remains Unbankable

Adani Power Ltd reports another net loss—of US$48 million—in the three months through December. This puts the company as the proposed cornerstone customer in a plan to build the massive Adani Enterprises Carmichael coal project in Queensland on track for its fifth year of enormous losses since FY2012. The latest numbers highlight the strategic weakness of […]

IEEFA Mexico: What Can Happen When an Emerging Market Opens Up to Wind and Solar

IEEFA Mexico: What Can Happen When an Emerging Market Opens Up to Wind and Solar

Two Big Auctions in 2016 Were Heavily Oversubscribed and Resulted in Record Low Prices

Twice in 2016 Mexico held two renewable power auctions that raised significant investor participation. The most recent, in September, saw 23 winning bids out of a pool of 57 to build renewable projects worth $4 billion for 2,871 megawatts of new capacity. More important, the average price at the auctions was US$33.47 per megawatt hour, […]

January 13, 2017 Read More →
IEEFA Update: In Emerging Economies, New Forms of Renewable-Energy Financing Are Taking Root

IEEFA Update: In Emerging Economies, New Forms of Renewable-Energy Financing Are Taking Root

Growing Demand for Greater Access to Capital Markets

As the size and scope of renewable energy projects increase at an unprecedented rate across the global economy, traditional models of finance are being replaced by more innovative ones. In the more developed markets of the world, yieldcos (dividend-driven spin-offs of larger parent companies) alongside green bonds and infrastructure funds are channeling investment capital into […]

December 19, 2016 Read More →