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

Coal plant closures set to continue in Australia

Renew Economy: “King coal to rule for 20 more years” screamed the front-page lead headline in The Australian, following the release of the Australian Energy Market Operator’s 20-year blueprint for the future of energy, known as its Integrated System Plan. Hate to say this guys, but that’s not what the AEMO report says. Here’s the […]

July 17, 2018 Read More →

IEEFA Australia: A gas cartel run amuck

Producers continued to starve the domestic market while making super profits off consumers

NEW SOUTH WALES, Australia — “Australia may soon be importing gas.” What a bizarre, implausible statement. Australia is the second largest exporter of gas in the world. Why would we ever import gas? Our very own Department of Industry, Innovation and Science ranked Australia’s market share at 20 per cent of world gas exports in […]

Renewables near 19 percent of Australian electricity generation

Australian Financial Review: Renewable energy generated nearly 19 percent of national grid power in the year to June 30 and is on track to meet the Turnbull government’s emissions target without the National Energy Guarantee, a new report says. New wind and solar generation being built or committed under the existing federal Renewable Energy Target […]

July 6, 2018 Read More →

‘Baseload’ renewables coming to Australia

Renew Economy: Australia is currently experiencing an unprecedented boom in solar and wind energy investments, both in terms of capacity and dollars. It will likely take the country to a 33 percent share of renewables as early as 2020. But there is another fascinating development taking place–as more and more wind and solar is added […]

July 5, 2018 Read More →

Sacred sites threaten Adani’s Abbot Point coal terminal in Australia

The Guardian: Indigenous traditional owners from north Queensland have threatened to try to pursue an order that could shut down Adani’s Abbot Point coal terminal, amid concern that sacred sites in the area have not been properly protected. Guardian Australia can reveal Adani has ignored repeated demands by Juru traditional owners to inspect “unauthorised” cultural […]

June 28, 2018 Read More →

Solar prices in Australia tumble to ‘extraordinary’ lows

Renew Economy: The cost of building new large-scale solar energy generation in Australia has fallen to an “extraordinary” new low, the head of the Australian Renewable Energy Agency has said, citing industry reports of numbers down around the $50/MWh mark. Australia’s PV price plunge has seen the cost of utility-scale solar fall from around $135/MWh […]

June 27, 2018 Read More →

Column: Coal optimism in Australia hides unease about long-term problems

Reuters: BRISBANE—Coal miners supplying Asia’s rapidly growing economies have plenty to be optimistic about as prices and demand appear robust, but they should be wary of getting caught up in the positive feedback loop that nearly destroyed them before. This week’s inaugural Energy Mines and Money conference in Brisbane, the heartland of the industry in […]

June 22, 2018 Read More →

Regulators likely to require more climate risk disclosure from Australian coal firms

Australian Financial Review: ASX-listed companies with high carbon exposures—such as Whitehaven Coal, Yancoal and New Hope Group—will have to ramp up their climate risk disclosures from the brief mentions in past financial statements. Minter Ellison climate lawyer Sarah Barker told The Australian Financial Review that Australian Securities and Investments Commission member John Price’s speech on […]

June 21, 2018 Read More →

Construction starts on Australia’s largest wind farm

Manufacturers’ Monthly: Construction on what is set to become Australia’s largest, and possibly cheapest, wind farm in Australia has officially started near Beaufort in Victoria. Victoria’s Premier Daniel Andrews and Minister for Energy Lily D’Ambrosio yesterday visited the Stockyard Hill Wind Farm, about 35 kilometres west of Ballarat to mark the start of the construction. […]

June 15, 2018 Read More →
South Australia businesses, billionaire team up on solar

South Australia businesses, billionaire team up on solar

Renew Economy: U.K. “green steel” billionaire Sanjeev Gupta has unveiled a stunning, landmark agreement to provide cheap solar power to five major South Australian companies, promising to slash their electricity costs by up to 50 per cent. The eight-year deal signed with a consortium brought together by the SA Chamber of Mines and Energy (SACOME)–and […]

June 8, 2018 Read More →