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IEEFA Research

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

Abundant offerings across a number of markets

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: 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 Brief: U.K. Government at Risk in Over-Budget Nuclear Project That Stands Incomplete

IEEFA Brief: U.K. Government at Risk in Over-Budget Nuclear Project That Stands Incomplete

A Sensible ‘Plan B’ for Hinkley Point C Project in Somerset Would Avoid Extending Public Loan Guarantees

Oct. 16, 2017 (IEEFA.org) — A research brief published today by the Institute for Energy Economics and Financial Analysis cautions the U.K. government against investing further in an unfinished nuclear project on the Bristol Channel in southwest England. The brief — “A Half-Built, High-Priced Nuclear White Elephant: How Should the U.K. Proceed With This Troubled […]

October 16, 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 Report: A U.K. Electricity Transformation Under Way, But in Need of Better Direction

IEEFA Report: A U.K. Electricity Transformation Under Way, But in Need of Better Direction

Grid Proves Resilient in Face of 60% Drop in Coal Use in 2016; New Renewables and Interconnection Are the Future; Capacity Market Has Failed to Incentivize Modernization; More Targeted Auctions Would Help

The U.K.’s capacity market is the weak link in the country’s ongoing transition toward a resilient, low-carbon grid. That is one of the core findings in a  report—“Electricity-Grid Transition in the U.K.: As Coal-Fired Generation Recedes, Renewables and Reliable Generation Can Fill the Gap —we published today. The report finds that the U.K. grid is coping […]

March 9, 2017 Read More →
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 Report: Three Timely Takeaways on 2016 Global Energy Transformation

IEEFA Report: Three Timely Takeaways on 2016 Global Energy Transformation

An Acceleration to Renewables, Faster-Than-Expected Shifts Regionally and Nationally, Growing Risk for Investors Who Lag Behind

Three notable takeaways emerge from the rapid transformation of the global energy economy, as we detail in a new paper we published today as the landmark Paris Agreement officially goes into effect. The global transition to renewables is accelerating. Change is happening faster than expected. Those left behind in this transition face growing financial risk. […]

November 5, 2016 Read More →

More News and Commentary

Scottish Power sells fossil assets to focus on wind

The Guardian: Scottish Power has ditched fossil fuels for electricity generation and switched to 100% wind power, by selling off its last remaining gas power stations to Drax for more than £700m. Iberdrola, Scottish Power’s Spanish parent company, said the move was part of its strategy to tackle climate change and would free it up […]

October 16, 2018 Read More →
IEEFA update: Time to reconsider the U.K.’s flagship scheme for avoiding blackouts

IEEFA update: Time to reconsider the U.K.’s flagship scheme for avoiding blackouts

Capacity markets have proven to be an impediment to modernization

Overlapping forces spell further declines for coal-fired power LONDON — Britain introduced a capacity market in 2014 to safeguard security of supply as the country transitioned to more variable, low-carbon electricity sources like wind and solar power, but it looks increasingly like a backward step that rewards ageing, large-scale incumbents while penalising newer, smaller competitors. […]

October 3, 2018 Read More →

U.K. tops 20GW of installed wind capacity

Renewables Now: The U.K. has crossed the 20-GW mark for wind power capacity after the opening of the 659-MW Walney Extension offshore wind farm, RenewableUK said today. Denmark’s Ørsted A/S inaugurated the Walney Extension project in the Irish Sea earlier this month. It is now the world’s largest operational offshore wind farm, leapfrogging the 630-MW […]

September 17, 2018 Read More →

Orsted opens world’s largest offshore wind farm in Irish Sea

The Guardian: The world’s biggest offshore windfarm has officially opened in the Irish Sea, amid warnings that Brexit could increase costs for future projects. Walney Extension, off the Cumbrian coast, spans an area the size of 20,000 football pitches and has a capacity of 659 megawatts, enough to power the equivalent of 590,000 homes. The […]

September 6, 2018 Read More →

Tidal energy facility smashes generation records in first year of operation

The Independent: A floating tidal stream turbine off the coast of Orkney has produced more green energy in a year than Scotland’s entire wave and tidal sector produced in the 12 years before it came online. In 12 months of full-time operation, the SR2000 turbine supplied the equivalent annual power demand of about 830 households. […]

August 23, 2018 Read More →

MHI Vestas gets turbine contract for Scottish 950 MW offshore wind farm

Renewable Energy: Moray East has signed a conditional agreement with MHI Vestas Offshore Wind for the supply and installation of 100 MHI Vestas V164-9.5 MW offshore wind turbines. The signing of the agreement follows the announcement in October 2017 of the selection of MHI Vestas as preferred turbine supplier for the Moray East offshore wind […]

August 21, 2018 Read More →

Biggest Scottish offshore wind farm begins producing power

CNBC: Scotland’s biggest offshore wind farm has started to produce power. Following the installation of its first seven megawatt turbine, the £2.6 billion ($3.41 billion) Beatrice Offshore Wind Farm sent power to the National Grid for the first time towards the end of last week. Located around eight miles (13 kilometers) off the Caithness coast, […]

July 25, 2018 Read More →

Auctions expected to double U.K. offshore wind capacity

The Week: Britain’s offshore wind capacity is set to double over the next decade, driven by a government strategy forcing turbine operators to bid for financial support in auctions. Plummeting costs have made wind an increasingly affordable source of clean energy in recent years. By 2030, between a fifth and a third of the UK’s […]

July 24, 2018 Read More →

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

Abundant offerings across a number of markets

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 →

On the blogs: Former skeptics are now backing renewables

OilPrice.com: Who would have thought wind’s transformation from subsidy-supported to self-financing power source would happen so quickly—not this publication, that’s for sure. Apart from diehard environmentalists, most consumers have been opposed to renewables on the basis they cost significantly more, and turbines are an eyesore on the landscape. But in the span of less than […]

July 19, 2018 Read More →