Europe

IEEFA Research

IEEFA update: U.K. pension funds lag in renewable energy infrastructure investing

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LONDON — Local U.K. government pension schemes are gradually increasing their unlisted infrastructure holdings, driven by examples set by trail-blazing funds and by a new government initiative to increase the scale of such investments. But few are investing explicitly in renewable energy, the biggest single segment of infrastructure investment in the world (infrastructure investing involves real […]

July 19, 2018 Read More →
IEEFA report: Poland’s biggest utility is risking financial instability by doubling down on coal-fired generation

IEEFA report: Poland’s biggest utility is risking financial instability by doubling down on coal-fired generation

New EU emissions regulations raise compliance issues at PGE; Outdated business model may cost billions; ‘An accelerated deployment of renewables’ makes more sense

June 13, 2018 (IEEFA) – New air pollution regulations coupled with rising carbon prices put Poland’s biggest utility, PGE, at serious risk of financial disarray if it continues to pursue a coal-heavy upgrade strategy, concludes a report published today by the Institute for Energy Economics and Financial Analysis. A strategic shift toward a renewable energy-based […]

IEEFA Report: U.K. Pension Funds Can Benefit Now From Renewables Infrastructure Play

Growth and Proven Returns in a Rapidly-Expanding Sector

Nov.15, 2017 — A new report by HSBC Global Asset Management and the Institute for Energy Economics and Financial Analysis (IEEFA) finds that U.K. pension funds can benefit now from investing in domestic and overseas renewable energy infrastructure. Commissioned by the City of London Corporation’s Green Finance Initiative, the report, “The Renewable Energy Infrastructure Investment […]

November 14, 2017 Read More →
IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

New Emissions Rules Loom Large Across EU; Gas-Fired Generation and Renewables Present Better Investment Opportunities; Major Utilities Are Out of Step With Markets

October 25, 2017 (IEEFA.org) — A research paper published today by the Institute for Energy Economics and Financial Analysis finds that plans by Enel Group’s Spanish-subsidiary Endesa to sink €400 million into upgrading three aging coal-fired plants is a likely loss-making proposition under new European Union emission-control rules. The report—“How European Utilities Can Capitalize on […]

October 26, 2017 Read More →
IEEFA Report: European Coal Sector Woes Deepen With New Air Quality Mandate; One-Third of Existing Capacity Must Retrofit or Close

IEEFA Report: European Coal Sector Woes Deepen With New Air Quality Mandate; One-Third of Existing Capacity Must Retrofit or Close

More Headwinds for Major Utilities; New Limits Affect 108 Plants; Implications for Investors, With Gas and Renewables Emerging as Preferred Power-Generation Fuels

May 8, 2017 (IEEFA.org) — More than 100 separate power plants—representing one-third of Europe’s large-scale coal-fired power plant capacity—face costly air quality upgrades or closure as a result of new European Union emissions limits, according to an analysis published today by the Institute for Energy Economics and Financial Analysis (IEEFA). “These regulations will further undermine and […]

IEEFA Update: A Rush to Subsidies as Power Plants in Europe Face an Existential Threat

IEEFA Update: A Rush to Subsidies as Power Plants in Europe Face an Existential Threat

Paying Producers for Electricity They Might Never Generate

  So-called capacity markets are driving what appears to be a major new trend in energy policy across Europe: More public subsidies for electric utilities. Utilities may get—but not necessarily need or deserve—high-level government support for a variety of reasons, including for their role in equity markets, where they supply returns and dividends for pension […]

December 13, 2016 Read More →
IEEFA Europe: Can Coal Power Hang On?

IEEFA Europe: Can Coal Power Hang On?

Investors May Not Be Eager to Absorb More Losses Like Those Seen in Recent Dutch Build-Outs

Investment in new coal-fired power plants appears off the agenda in Western Europe. Witness the astonishing write-down of brand-new assets in the Netherlands, where European utility giants RWE, Uniper, and Engie have drastically reduced their valuations of plants barely a year old (read the report we published this morning, “The Dutch Coal Mistake,” which concludes […]

November 30, 2016 Read More →
IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

Foundation-Based Approach to Closure and Clean-Up; New Czech Owners of Vattenfall Assets in Lausitz Can Afford to Foot the Bill; a Timeline That Helps Local Communities Prepare for Transition

The recent “sale” by the Swedish state-owned utility Vattenfall of its German lignite assets throws a harsh light on a dark paradox: the continued use of the world’s most carbon-intensive fuel by a country with some of the most ambitious targets to tackle climate change. The deal transfers a cluster of lignite mines and their […]

September 22, 2016 Read More →

More News and Commentary

On the blogs: Policy remains key to solar expansion

International Energy Agency: China’s success in this sector has been thanks to a virtuous cycle of strong policy support and falling technology costs. For example, China’s 2020 targets for solar PV have been ratcheted up several times, rising from an initial target of 1.8 GW set in 2008, to 105 GW in the 13th Five-Year […]

February 13, 2019 Read More →

Spanish developer signs world’s largest solar power purchase agreement

PV Magazine: After signing a 20-year PPA for the 46 MW Ourika PV plant in Portugal on Tuesday, with Irish firm WElink Investment Holdings, Spanish renewable energy company Audax Renovables today inked another 20-year PPA – for a 708 MW portfolio of plants to be developed in Spain and Portugal by WElink. The PPA, which includes the […]

February 11, 2019 Read More →

European offshore wind capacity up 18% in 2018

CNBC: European offshore wind capacity grew by 18 percent in 2018, according to statistics from trade body WindEurope. Europe installed 2.6 gigawatts (GW) of new offshore capacity, with 15 new offshore wind farms coming online. Breaking the figures down, the U.K. and Germany led the way, accounting for 85 percent of the region’s new capacity. […]

February 7, 2019 Read More →

Renewable energy continues to take market share from coal in Europe

Euractiv: New wind, solar and biomass power generation displaced hard coal last year – especially in Germany, France and the UK – according to a 2018 review of European electricity statistics by two leading energy policy think tanks. Renewable energies continued to pick up last year to reach 32.3% of total power generation in the […]

January 31, 2019 Read More →

European corporate wind deals set record in 2018

Reuters: European companies bought a record amount of wind power capacity last year, as energy-hungry businesses like aluminum producers and IT giants look for greener ways to drive their machinery and data centers. As wind power becomes competitive on price with conventional energy in many countries, big companies have rushed to secure renewable energy to […]

January 30, 2019 Read More →

Wood Mackenzie: Met coal prices likely to fall in 2019, steam coal outlook remains ‘challenging’

S&P Global Market Intelligence ($): The “sky-high metallurgical and steel prices” of 2018 will be rebalanced in the coming year, while the market for thermal coal is expected to continue on an uncertain and volatile course, according to Wood Mackenzie’s 2019 coal outlook distributed Jan. 22. The global economy is slowing after a strong 2018, […]

January 23, 2019 Read More →

Platts expects sharp rise in European coal, nuclear plant closures in early 2020s

Platts: Years late and massively over-budget, Europe’s first EPR nuclear reactors are finally about to load fuel and energize. This is the final act in the region’s longest-running generation construction saga, with delivery of first power from EPRs in Finland and France due before end-2019. These baseload additions buck the longer-term trend towards growing volatility […]

January 10, 2019 Read More →

IEEFA Europe: PGE’s pro-coal strategy in Poland under fire

EU decision to end capacity payments is a blow to utility’s plans

LONDON—The coal-heavy strategy at Poland’s biggest utility, PGE, was hit this week by a provisional European Union agreement to end coal power capacity payments from 2025, adding to the utility’s existing woes from rising carbon prices. Across Europe, utilities have rushed for the coal exit door, driven by increasingly favourable economics for renewables and smart […]

December 21, 2018 Read More →

EU agrees to end coal subsidies by 2025, but gives Poland a break

EURACTIV: European Union legislators reached agreement in the early hours of Wednesday (19 December) over a proposed reform of electricity market rules that includes a 2025 cut-off date for coal subsidies, and a special clause for Poland. “Today’s message is clear: this is the last call for coal,” said Florent Marcellesi, a Green lawmaker from […]

December 20, 2018 Read More →

Croatia’s government-run utility plans major renewables investments

Reuters: Croatia’s state-run power utility HEP aims to boost renewable energy to 50 percent of its total capacity from the current 35 percent, investing 1 billion Croatian kuna ($153.96 million) a year on average until 2030, it said on Thursday. It will upgrade existing hydro power plants, as well as adding new ones, and invest […]

December 7, 2018 Read More →