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 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, […]

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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 […]

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IEEFA Update: Reading Between the Lines of the International Energy Agency’s Spin on Coal

An Industry-Influenced Report Clouds Key Data; Acknowledgement of Financing Difficulties and Failures in Technology

In its new “Medium Term Coal Outlook Report,” published today, the International Energy Agency says quite a lot—but it doesn’t say it very clearly. The report is written by the thermal power unit of the IEA with input from Wood Mackenzie, which gets lots of business from the coal industry, and from the Coal Industry […]

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IEEFA Latin America: Indications, in the Activity of an Italian Company, of How Emerging Markets Are ‘Skipping a Generation’ and Going Straight to Renewables

IEEFA Latin America: Indications, in the Activity of an Italian Company, of How Emerging Markets Are ‘Skipping a Generation’ and Going Straight to Renewables

ENEL Is Betting That Developing Economies Will Go Big on Solar, Wind, and Hydro

In its updated plan for 2017-2019, the Italian utility ENEL SpA has expanded its earnings targets with an aggressive capital-expenditure program for 6.7 gigawatts of renewable energy capacity. And that’s just over the next three years, which probably makes ENEL the largest single investor globally at the moment in such capacity. Of crucial note here: […]

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IEEFA Australia: In India’s Trend Toward Renewables, Winds of Coal-Market Change

A Powerful Indicator of Global Changes in How Electricity Is Produced and From Which Sources of Energy

Revelations last week that Labor has plans to progressively retire Australia’s coal-fired power stations put the cat among the energy pigeons, not least for unanswered questions about the security of future energy needs and renewable energy targets. Nevertheless, the fact is Australia is being buffeted by winds of change blowing far from our shores. On […]

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IEEFA India: Electricity-Sector Transition Picks Up Speed

IEEFA India: Electricity-Sector Transition Picks Up Speed

What’s Happening in Energy Markets Across Asia Will Not Stay in Asia

India’s latest electricity-sector report offers some striking insights into momentum around the country’s electricity-sector transformation. Thermal power plant utilization rates have collapsed to below 50 percent, the growth rate in new builds has halved, and renewable power generation is up 26 percent year on year, gaining six times faster than conventional power generation growth (4.5% […]

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IEEFA Update: Developing Countries Are Disproportionately Driving Global Growth in Renewables

Half of All $300 Billion in Activity Is in Emerging Markets

More than half of all renewable investment activity in the world last year occurred in developing countries. And 2015 was no small year for renewables, as new investment set a record US$286 billion and total transactions (including refinancings) exceeded $US380 billion. We’re published a memo this morning — “IEEFA Update: Emerging Markets Lead Global Investment […]

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IEEFA Asia: A Better Way Forward for Electrification in Bangladesh

IEEFA Asia: A Better Way Forward for Electrification in Bangladesh

We See a Viable and Sensible Renewables Path to Rapid Eradication of Energy Poverty and to Improvements in Health and Education

We’ve just published a report that outlines a highly feasible and more cost-effective alternative to expand electrification in Bangladesh than what the Bangladesh government has in mind. Our blueprint—“Bangladesh Electricity Transition: A Diverse, Secure and Deflationary Way Forward”—outlines an expansion that would be cheaper, cleaner and provide more national energy security. Our research models an […]

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IEEFA Update: IEA, Still Behind the Curve, Nonetheless Indicates Rising Stranded-Asset Risk in Fossil-Fuel Holdings

IEEFA Update: IEA, Still Behind the Curve, Nonetheless Indicates Rising Stranded-Asset Risk in Fossil-Fuel Holdings

A Not-So-Distant Future in Which Thermal-Fired Electricity Generation Declines Precipitously

The International Energy Agency, out with its annual energy-markets forecast, “World Energy Outlook 2016,” remains behind the curve but not as far behind as it was. A history of IEA underestimation of technology change has been partially remedied in this new report, but the agency’s solar and wind forecasts can at best be described still […]

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IEEFA China: Why the Rally in Coal Prices Is Unsustainable

A Short-Term Surge Is at the Mercy of Long-Term Trends

While thermal coal export prices have doubled since the first of the year, IEEFA remains of the view that the price spike is due solely to the confluence of several short-term policy and weather factors in China and India. By far the more important trend to watch is what’s seen in the 10.7 percent year-on-year, […]

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