Adani

IEEFA Research

IEEFA Report: Proposed Coal-Fired Project for Bangladesh Is a High-Priced Scheme Meant to Prop Up Adani Power

IEEFA Report: Proposed Coal-Fired Project for Bangladesh Is a High-Priced Scheme Meant to Prop Up Adani Power

Godda Plan, Contrary to Its Poverty-Alleviation Advertising, Would Cost Customers Dearly

April 10, 2018 (IEEFA.org): Adani’s proposed Godda Power project would prove financially unviable and a poor strategic fit for Bangladesh, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The IEEFA study—“Adani Godda Power Project: Too Expensive, Too Late, and Too Risky for Bangladesh”—finds also that the project is […]

IEEFA Australia: Adani Is Said to Seek Financing From a Chinese State-Owned Enterprise

'New Geopolitical Questions for an Already Highly Controversial Project'

Nov. 2, 2017 (IEEFA) — A Chinese government-owned enterprise is being courted as a new partner for Adani’s proposed Carmichael coal mine and rail project in northern Queensland, according to a research brief published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The deal being sought with state-owned China Machinery Engineering Corporation […]

November 2, 2017 Read More →

IEEFA Australia: Escalating Financial Risk in Adani’s Abbot Point Coal Terminal

Begging the Question as to Why the Government Would Lend Heavily to a Tax-Haven Scheme Controlled by a Foreign Billionaire

Oct. 2, 2017 (IEEFA) — New analysis by The Institute for Energy Economics and Financial Analysis (IEEFA) finds that Adani’s Abbot Point Coal Terminal is excessively leveraged, promises negative shareholders equity, and runs the risk of becoming a stranded asset if Adani’s proposed Carmichael mine does not get the A$1 billion Australian taxpayer subsidy it […]

October 2, 2017 Read More →

NAIF Inadequate Project Assessment and Failure of Public Interest Test

Submission to Senate Inquiry into the Governance and Operation of the Northern Australia Infrastructure Facility

Our research in the context of Adani calls into question the project assessment and approval process of the Northern Australia Infrastructure Facility (NAIF) as it relates to a A$900 million loan request as well as the adequacy of the NAIF’s tests for risk appetite and for whether a project is in the public interest. Full […]

August 23, 2017 Read More →

IEEFA Update: Adani’s ‘Go-Ahead’ on Australian Mega-Coal Mine Is a Stunt

‘This Proposal Is Still a Pipe Dream’; Announcement ‘Theatrics’ Mean Little

Commenting on reports that Adani Enterprises Ltd has given the final go-ahead on the Carmichael mine proposal in Australia, Tim Buckley, IEEFA’s director of energy finance studies, Australasia said today: “An internal investment decision for the Carmichael mine is very different to an externally legally binding financial close. This proposal is still a pipe dream.” […]

IEEFA Update: An Increasingly Cursed Australian Coal Project

IEEFA Update: An Increasingly Cursed Australian Coal Project

Bad Financials, Weak Markets, Policy Headwinds, Social-License Issues, Transparency Questions, Climate Risk: The Many Afflictions Hobbling the Proposed Carmichael Mine

IEEFA has released an update today on Adani’s long-festering coal mine project in northern Queensland that plumbs the depths of the Indian conglomerate’s financials and finds them vastly insufficient for the supposed job at hand. Our report— “Adani: Remote Prospect: Carmichael Status Update 2017”—follows on previous work we’ve done around what would be the biggest new coal […]

Fact-Checking the Claim That Australian Coal Is Clean

Studiously Avoiding the Trend Toward a New Energy Economy

We’re seeing an increasing number of boastful assertions by Australian politicians that Australian coal is environmentally friendlier than other coal. It’s not true—and we’ve published a fact sheet here that gets into the weeds of it—but one illuminating comparison can be found when you stack Australian benchmark thermal coal up next to coal from Indonesia, […]

November 25, 2015 Read More →
US$100 Billion in New Renewable Investments in 2015 Power India’s Energy Transition

US$100 Billion in New Renewable Investments in 2015 Power India’s Energy Transition

Nov. 12, 2015 (IEEFA) — Investments worth more than US$100 billion over the past eight months are driving an unprecedented shift to renewable energy in India, according to a major new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report—India’s Electricity Sector Transformation—charts the accelerating influx of global capital into India […]

November 12, 2015 Read More →
India’s Fast-Moving Energy Transition: $100 Billion in Renewables Investments So Far This Year

India’s Fast-Moving Energy Transition: $100 Billion in Renewables Investments So Far This Year

A Crush of Deals With State-Owned Enterprises, Leading Power Companies, Billionaires, Major Firms and Utilities

Investments worth more than $100 billion over the past eight months are driving an unprecedented shift to renewable energy in India. The trend is detailed in a report we just posted—India’s Electricity Sector Transformation—that charts the accelerating influx of global capital into India as the country moves toward its goal of installing 175 gigawatts of […]

November 11, 2015 Read More →
New IEEFA Report – Adani: Remote Prospects

New IEEFA Report – Adani: Remote Prospects

Obstacles to Adani’s Project in Australia Have Only Grown: The Strategic ‘Moment’ for Coal Mining in the Galilee Basin Has Passed; Public Investment Is Ill-Advised; Markets Will Not Support an Unbankable Development

Almost two years ago we published a review in which we raised doubts about the Adani Group’s proposed Carmichael coal mine in the Galilee Basin of Australia and the associated rail and port infrastructure development. The mine would ship coal through the port at Abbot Point in the Great Barrier Reef. Today we’ve published an […]

September 15, 2015 Read More →

More News and Commentary

Adani’s Carmichael Coal Project Takes Another Hit

The Guardian: The global engineering company AECOM, the firm that had been designing Adani’s $2.2 billion rail line to its Carmichael coal mine, says that it has “demobilised” and is no longer working the project with the Indian conglomerate–but Adani says it is still “100% committed to the Carmichael project.” Engineering design contracts often have […]

May 17, 2018 Read More →

Economic Reality May Finally Kill Proposed Carmichael Coal Project

The Guardian: Adani’s coal-fired power business has reported more heavy losses, prompting the Indian conglomerate to announce it would shift away from using expensive imported coal. Analysts say the fourth-quarter financial results for Adani Power, a subsidiary of the Adani group, showed the proposed Carmichael mega-mine in Queensland was no longer a viable proposition. Remarkably […]

May 7, 2018 Read More →

Godda Plant a Bad Deal For Bangladesh

The Guardian: Godda, in the Indian state of Jharkhand, is surrounded by the country’s most productive coal mines. It will soon also be home to the Adani group’s latest coal-fired power station, a plant built for the sole purpose of sending energy across the border to Bangladesh. Adani has framed its planned 1,600-megawatt Godda power […]

April 26, 2018 Read More →
IEEFA Report: Proposed Coal-Fired Project for Bangladesh Is a High-Priced Scheme Meant to Prop Up Adani Power

IEEFA Report: Proposed Coal-Fired Project for Bangladesh Is a High-Priced Scheme Meant to Prop Up Adani Power

Godda Plan, Contrary to Its Poverty-Alleviation Advertising, Would Cost Customers Dearly

April 10, 2018 (IEEFA.org): Adani’s proposed Godda Power project would prove financially unviable and a poor strategic fit for Bangladesh, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The IEEFA study—“Adani Godda Power Project: Too Expensive, Too Late, and Too Risky for Bangladesh”—finds also that the project is […]

Adani’s Owner Has Amassed Enough Wealth to Pursue Australia Coal Project Without Banks or Taxpayer Support

Sydney Morning Herald: A leading energy analyst says a reluctance by banks to finance the controversial Adani coal mine is no longer an insurmountable hurdle because the billionaire family behind the proposal has enough wealth to fund the project itself. Should Indian mining magnate Gautam Adani decide to personally finance the controversial plan, it would […]

March 13, 2018 Read More →
IEEFA Update: A Lobbyist With Coal-Colored Glasses Can’t See the End Game

IEEFA Update: A Lobbyist With Coal-Colored Glasses Can’t See the End Game

An Open Letter in Response to a Misguided Op-Ed in the Australian Financial Review

Dear Editor: On behalf of the Institute for Energy Economics and Finance Analysis (IEEFA), I write to highlight some key factual errors and omissions in what we consider to be an extraordinarily disingenuous op-ed that your publication carried recently. It is telling that the piece is credited to Frontier Economics, a coal lobbyist working for […]

March 1, 2018 Read More →

As Global Markets Shift, a ‘Nightmare’ for Backers of Stranded Australian Coal Project

Bloomberg News: Australian mining legend Lang Hancock’s dream four decades ago of exporting coal from the country’s remote Galilee Basin is becoming a nightmare for two Indian conglomerates. Adani Group bought into the Queensland basin in 2010, followed a year later by GVK Group, with plans to ship thermal coal by the middle of the […]

March 1, 2018 Read More →

Key Rail Player Pulls Out of Adani’s Australian Coal Project

Financial Times: Australia’s largest rail freight operator withdrew an application for a A$1bn (US$777m) state-backed loan on Friday to build a rail line to support development of the Galilee Basin, one of the world’s largest untapped coal reserves. The decision by Aurizon represents another setback to Indian mining groups, Adani and GVK Hancock, which are […]

February 9, 2018 Read More →
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IEEFA Update: Adani Stumbles Toward the Last-Chance Saloon

Denied by Its Erstwhile Enablers, an Indian Mining Giant in Australia Is Desperate for Help

The prospect in the New Year for Adani’s proposed Carmichael coal-mine proposal has taken a bleaker-than-ever bent. Following the Queensland government’s veto of the proposed A$1 billion government loan subsidy and after multiple Chinese banks ruled out funding the project, more nails have been driven into the project’s coffin. A month ago yesterday, Downer EDI, […]

Proposed Loan for Adani Mine, Rejected by Queensland Government, May Have Failed Financial Test Anyway

Australian Broadcasting Corporation: Adani’s bid for a $1 billion taxpayer-funded loan may have been doomed even before it was scuppered by Queensland’s Palaszczuk Government, the Productivity Commission has said. The miner’s proposed Galilee Basin rail line faced rejection by the Northern Australian Infrastructure Facility (NAIF) because it may have failed key hurdles, the commission’s latest […]

January 5, 2018 Read More →