Australia

IEEFA Research

IEEFA Report: Advances in Solar Energy Accelerate Global Shift in Electricity Generation

IEEFA Report: Advances in Solar Energy Accelerate Global Shift in Electricity Generation

Rapid Cost Deflation, Broad Gains in Scale; Key Momentum in China and India; Crucial Support From International Capital Markets and Tech Giants; Expansion Role Seen for National Governments

May 21, 2018 (IEEFA.org) – A report published today by the Institute for Energy Economics and Financial Analysis describes how solar energy is accelerating the transformation of the global electricity-generation sector through gains in technology innovation and price deflation. The study—“Solar Is Driving a Global Shift in Energy Markets”—details some of the world’s biggest utility-scale […]

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 Report: ‘Here and Now’ — Nine Electricity Markets Leading the Transition to Wind and Solar

California, Denmark, Germany, Ireland, South Australia, Spain, Tamil Nadu, Texas, and Uruguay; Breakneck Speed Is Overtaking Academic Discussion; Renewables Are Providing Security of Supply

Feb. 14, 2018 (IEEFA) — New research by the Institute for Energy Economics and Financial Analysis details how nine major power markets around the world have achieved an outsize share of wind and solar generation while assuring security of supply and are providing compelling examples of the fast-moving evolution of electricity generation. The report, “Power-Industry […]

February 15, 2018 Read More →

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 Australia: Hume Coal Proposal Will Be Left Behind as Energy Markets Move On

IEEFA Australia: Hume Coal Proposal Will Be Left Behind as Energy Markets Move On

New Coal Mine Makes Even Less Sense than It Did Last Year; Hume Will Find it Hard to Compete with Higher-Quality Coking Coal

Despite the significant increase in coking coal prices that began in late 2016, the proposed Hume Coal project in the Southern Highlands of New South Wales seems no more likely to proceed now than it did when IEEFA reviewed it ten months ago. Hume Coal, a subsidiary of South Korea’s largest steel maker POSCO, has […]

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: As Australia Fights a Domestic Gas Shortage, New Export Plants Are at Risk of Closure

IEEFA Update: As Australia Fights a Domestic Gas Shortage, New Export Plants Are at Risk of Closure

‘Fiddling Around and Allowing the Cartels to Fleece Consumers’

nJune 5, 2017 (IEEFA.org) – The Institute for Energy Economics and Financial Analysis today published a report detailing how a complex of expensive new liquefied natural gas plants on the east coast of Australia are struggling to stay open in the face of a global gas glut. The report—“Australia’s Export LNG Plants at Gladstone: The […]

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 […]

More News and Commentary

Mitsubishi is the latest Japanese firm to take a second look at coal investments

Australian Financial Review ($): Australia’s biggest thermal coal customer is hardening its attitude towards the fuel, with Japan’s biggest bank and one of Japan’s biggest power and mining conglomerates tightening their coal investment policies in recent days. Mitsubishi UFJ Financial Group, which is Japan’s largest lender and largest bank by assets, said it was reviewing […]

September 24, 2018 Read More →

Renewable generation hits record level in Australia

The Sydney Morning Herald: Renewable energy supplied more than a quarter of the National Electricity Market last month amid windy weather and a “tsunami of new wind and solar projects” reaching completion, The Australia Institute said. The progressive think tank’s latest energy and emission audit found renewables including hydro and rooftop solar generated a record […]

September 17, 2018 Read More →

Two Australia states push ahead with green energy purchases

Reuters: Australia’s Victoria state on Tuesday agreed to back six new wind and solar farms to help meet a target of getting 25 percent of its power from renewables by 2020, just weeks after a year-long attempt at crafting a national energy policy collapsed. The announcement came the same week as South Australia, the state […]

September 11, 2018 Read More →

Australian manufacturing group says members can save money with renewables

Renew Economy: Australian manufacturing companies, reeling from the soaring price of gas – and sometimes its lack of availability – have been urged to switch to solar and other technologies, and make some easy gains with some simple energy efficiency measures. The advice on fuel switching is contained in a joint report by the Clean […]

September 5, 2018 Read More →

Forecast says renewables will prompt steep power price cuts in Australia

The Guardian: While the Morrison government has identified lowering power prices as a key early priority, a new analysis says wholesale prices will almost halve over the next four years because of the technology many Coalition conservatives oppose – renewables. The latest renewable energy index compiled by Green Energy Markets confirms analysis by the Energy […]

August 30, 2018 Read More →

Australian zinc refiner opens 125 MW, onsite solar farm

Renew Economy: A 125 MW solar farm built to lower costs and underpin the expansion of Korean zinc refiner Sun Metals in north Queensland has been officially opened at its site, south of Townsville. The ground-breaking project, which was constructed by RCR Tomlinson, marked the first large-scale solar farm to be built directly by a […]

August 17, 2018 Read More →
IEEFA update: China moves heavily into foreign wind markets

IEEFA update: China moves heavily into foreign wind markets

$12 billion invested in Australia and Europe alone; Reach goes well beyond formal Belt and Road Initiative; ‘This is a superpower taking its energy policy global’

Aug. 16, 2018 (IEEFA) — China’s investment in foreign wind-powered electricity markets has surpassed US$12 billion in Europe and Australia alone as private and stated-owned Chinese companies move aggressively to capitalize on fast-growing renewable energy markets, concludes a research brief published today by the Institute for Energy Economics and Financial Analysis (IEEFA). Most of the […]

August 16, 2018 Read More →

Gigawatt-sized Cultana Solar Farm takes shape in South Australia

The Guardian: Billionaire UK industrialist Sanjeev Gupta has launched a $1bn, one-gigawatt renewable energy plan based in South Australia’s mid-north that he says will lead Australian industry’s transition to more competitive power. In the first of a number of projects slated for the upper Spencer Gulf region, which will also include a lithium-ion battery bigger […]

August 15, 2018 Read More →

Tesla wins another big battery project in Australia

Electrek: Tesla’s energy division is on a roll when it comes to large battery projects, especially in Australia since the success of its giant battery system in in the country. Now we learn that Tesla won another contract for a massive battery system project to deploy Powerpacks at another wind farm in Australia. Tesla’s 100 […]

August 15, 2018 Read More →

IEEFA update: Southeast Asian fossil fuel risk is underpriced

Hazards from corruption, policy change, stranded assets, and ill-informed advisors

HONG KONG — We’ve just published a memo describing how July was an exceptionally telling month for Southeast Asia power-generation markets. Our memo argues that fossil fuel risk is underpriced in the region, and it makes four specific points along these lines. First, that there is too little transparency around certain deals in Indonesia. News in […]

August 8, 2018 Read More →