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IEEFA Australia: Adani’s Bad Month

Few Financiers for a Project on the Ropes

The potential for Adani’s Carmichael coal mine proposal in northern Australia took a dramatic turn this week as one major Chinese bank after another ruled out financing the project. The news comes shortly after Queensland state’s Labor Party government promised to block a federal taxpayer-funded loan to Adani if re-elected—and odds are the party has […]

December 8, 2017 Read More →
IEEFA Op-Ed: Wall Street’s War on Puerto Rico

IEEFA Op-Ed: Wall Street’s War on Puerto Rico

Bondholders Who Insist on Their Pound of Flesh Only Risk Further Losses

A commentary that appeared the other day in the Bond Buyer, the debt industry’s newspaper of record, is but the latest salvo in Wall Street’s misguided war on Puerto Rico. The column, by a representative of Spire Wealth Management, complained strenuously that Puerto Rico was only hurting itself by pressing for much-needed debt relief. Such […]

December 7, 2017 Read More →

U.S. Coal, Nuclear Industries Seek Billions in Tax-Credit Bailouts

Axios: Two separate lobbying pushes are underway urging Congress to create new multi-billion dollar tax credits benefiting virtually all coal and nuclear power plants across the United States. The price tags: up to $65 billion for coal and $4.8 billion for nuclear. The efforts show the aggressive lengths companies are going trying to survive in […]

December 7, 2017 Read More →

China Banks Steer Clear of Adani’s Mega Coal Project in Australia

South China Morning Post: Industrial and Commercial Bank of China (ICBC) and China Construction Bank said in separate statements they were not working on the project, after media recently reported that Chinese banks may get involved. Adani was seeking A$2 billion (US$1.5 billion) in financing by March 2018 for the A$4 billion first stage of […]

December 4, 2017 Read More →

Transition Is Enveloping U.S. Electricity Sector

Wall Street Journal: The rapid rise of wind and natural gas as sources of electricity is roiling U.S. power markets, forcing more companies to close older generating plants. Wholesale electricity prices are falling near historic lows in parts of the country with competitive power markets, as demand for electricity remains stagnant while newer, less-expensive generating […]

November 30, 2017 Read More →

New 800-Mile Midwestern Power Line Expands U.S. Wind Market

Midwest Energy News: Finished in late September after more than a decade of planning and construction, the 800-mile-long CapX2020 transmission project has prompted more than 3,600 megawatts of clean energy project proposals, according to Xcel Energy. While not all the proposals are likely to be approved by regulators, the flood of applications represents the tangible […]

November 30, 2017 Read More →

In ‘Challenging Transition,’ Navajo Generation Station Will Stay Open Through 2019

The Hill: The coal-fired Navajo Generating Station has obtained the approval it needs to stay open through 2019. The Salt River Project, an Arizona utility that partially owns the plant and is negotiating on behalf of the other owners, announced Wednesday that the federal Bureau of Reclamation and Bureau of Indian Affairs had completed their […]

November 30, 2017 Read More →

On India’s Transformation, IEA Is ‘Out of Touch’

Business Standard India: India’s thermal coal demand is poised to fall, belying hopes of exporters from Australia and US who eyed the country as a long-term growth market. The country is now the second-largest consumer-cum-importer of thermal coal but imports are sliding. During the April-October period of the current financial year, thermal coal imports declined […]

November 29, 2017 Read More →

‘Marshall Plan’ for Puerto Rico Outlines Modernization Strategy for Shattered Grid

Washington Post: Sen. Bernie Sanders (I-Vt.) will unveil an ambitious $146 billion Puerto Rico recovery plan he says will allow renewable power sources such as solar and wind to provide about 70 percent of the island’s energy needs within the decade. The bill, which has the backing of San Juan Mayor Carmen Yulín Cruz, also […]

November 28, 2017 Read More →

World Bank Bets on Renewables Boom in India

Global Trade Review: The World Bank is to provide US$100mn in funding for renewable energy projects in India’s booming market. The development bank will provide US$98mn in debt to the Indian Renewable Energy Development Agency (IREDA), which will on-lend the money to states in India for solar projects. A further US$2mn will be available in […]

November 28, 2017 Read More →