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

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 →

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 →

Australia on Pace to Double Solar Capacity in 2018

The Guardian: A record-breaking month of rooftop installations and a flood of large-scale solar farms could almost double Australia’s solar power capacity in a single year, industry analysts say. A massive solar energy boom is being predicted for 2018, after an unprecedented number of industrial solar farms were approved by the New South Wales and […]

February 12, 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, […]

Australian Solar Installations Set Record in 2017

Bloomberg: Australia, one of the world’s biggest users of rooftop solar panels, likely added the most new capacity on record last year as electricity users sought to ease escalating power bills. A preliminary estimate by Australia’s Clean Energy Regulator of 1.05 gigawatts installed last year would be a record for the country, the government body said in an […]

January 16, 2018 Read More →

Lanco Close to Escaping Disastrous Griffin Purchase

The West Australian: Indian group Lanco Infratech has escaped a $200m payment linked to its disastrous purchase of the Griffin coal mine as part of a confidential settlement of one of [Western Australia’s] biggest commercial court cases. The settlement late last year coincided with insolvency firm KordaMentha flagging a final distribution of about $80m to […]

January 12, 2018 Read More →

Tesla’s Aussie Success Paves Way For More Projects

Australia’s renewable energy sector responds to the success of South Australia’s Tesla lithium ion battery: South Australia will build the world’s largest solar thermal plant, and a Queensland wind farm may be the site of a new record-breaking battery. The Aurora solar plant in Port Augusta, SA, will begin construction this year. The $650 million, 150-megawatt […]

January 11, 2018 Read More →