Author Archive: Simon Nicholas

Energy Finance Analyst Simon Nicholas, a fellow of the Institute of Chartered Accountants of England and Wales. Nicholas joined the IEEFA team in July 2016, after 16 years’ experience within the finance industry at ABN Amro, Macquarie Group and Commonwealth Bank of Australia in both Sydney and London.

IEEFA Ghana: Reliance on LNG means increased fuel price risk and further unaffordable generation contracts

African nations must learn from developing Asia's expensive fossil-fuelled power problems

Ghana is set to become the first Sub-Saharan nation to import LNG as the government continues its attempts to renegotiate unaffordable power generation contracts. LNG is being pushed in emerging nations as a clean transition fuel that is “critical” for development. It is neither of these things. In fact, the need for expensive, associated LNG […]

March 30, 2021 Read More →

IEEFA Update: Proposed switch from coal to LNG threatens renewable energy development in Asia

Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations

A concerted effort by the U.S. gas industry to push LNG onto developing Asian nations is jeopardising renewable energy investment across the continent. Vietnam’s new draft long term energy plan indicates lowering coal power ambition but increased focus on LNG is included at the expense of solar power development. Meanwhile GE has been working to […]

March 22, 2021 Read More →

IEEFA Update: Why Bangladesh shouldn’t count on a fossil fuel future

Around US$50 billion of LNG projects in Asia at risk of cancellation

Two astonishing figures have circulated in the Asian energy sector in the past month: LNG prices have increased by 1000% since record lows of April 2020, and Vietnam has increased its rooftop solar by 9,000 megawatts (MW) within 12 months. The two figures represent two different potential futures that Bangladesh could choose: the former points […]

February 3, 2021 Read More →

IEEFA: Growing risks for US$50 billion of Mozambique LNG projects

The security situation has worsened, and developers face major challenges amid growing investor ESG concerns

French oil and gas company Total is facing increased security concerns at its US$20 billion Mozambique LNG project. The company has been removing staff from the project site as a three-year old Islamist militant insurgency in the northern province of Cabo Delgado escalates further. Total’s Mozambique LNG is one of two projects located on the […]

February 1, 2021 Read More →

IEEFA: Bangladesh’s power system overcapacity problem is getting worse  

Overcapacity, along with increased reliance on expensive coal and LNG imports, threaten to increase the cost of power generation

20 January 2021 (IEEFA Bangladesh): Overcapacity in Bangladesh’s power system has worsened and threatens to deteriorate further according to a new briefing note released by the Institute for Energy Economics and Financial Analysis (IEEFA) today. Data from the Bangladesh Power Development Board’s (BPDB) latest annual report shows that overall power capacity utilisation in fiscal year […]

IEEFA: Pakistan announces ‘no new coal-fired power’

Implications for coal across the Belt and Road Initiative

At the 12 December Climate Ambition Summit hosted by the U.N., the U.K. and France, Pakistan’s Prime Minister Imran Khan announced that his nation “will not have any more power based on coal”. On the face of it, this is a highly significant statement for a nation that was until now intending to exploit its […]

December 14, 2020 Read More →

IEEFA: Adani’s Godda power project ‘left behind’ by changing energy policy in India and Bangladesh

Plans for the new coal-fired power station can be reconfigured to support India’s economic recovery

The Adani Group’s recent acquisition of a coal block in Jharkhand has further highlighted how misaligned the Godda coal power project is with Indian energy strategy. Furthermore, new developments in Bangladesh – where Godda power is intended to be exported – mean the project is also looking increasingly out-of-step with Bangladesh’s energy policy. In our […]

November 25, 2020 Read More →

IEEFA Japan: ¥26 billion loss on Australian coal power plant raises questions for Sumitomo and its investors

Sumitomo’s coal policies are lagging its trading house peers and the Japanese government

23 November 2020 (IEEFA Japan): As the government of Japan’s energy policy shifts significantly and Japanese trading houses exit coal projects overseas, Sumitomo Corporation continues to develop coal power projects and has seen its thermal coal output grow according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report, […]

IEEFA: High fossil fuel costs and unnecessary power developments like Lamu will lead to expensive electricity bills for Kenyans

Kenya should make the most of its abundant renewable energy resources and reduce costs for consumers

The belated release of Kenya Power’s financial results for the year ended 30 June 2019 confirmed what was already known – that new renewable energy installations have replaced thermal power in Kenya’s energy mix. New power generation from the Lake Turkana Wind Power project – the largest wind power installation in Africa – resulted in […]

November 11, 2020 Read More →

IEEFA: As owner of India’s most valuable energy company, the Adani Group should lead the country’s energy strategy

Adani Green Energy’s market value is now 40% more than NTPC’s, but the wider group faces a growing ESG risk

11 November 2020 (IEEFA India): A new IEEFA report identifies the opportunity for the Adani Group to lead Indian energy strategy by further aligning itself with the government’s vision for energy independence and fast-growing reliance on renewables. “The soaring value of Adani Green Energy is a clear indication of where the market, and this group, are […]