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Simon Nicholas
As finance shifts from coal, China is looking isolated as the last enabler of coal-fired power overseas
A review of coal power proposals in countries with large remaining project pipelines indicates that 56% of the total capacity of these proposals is being supported by China. Historically just one of the major providers of finance to overseas coal power projects, China has more recently looked increasingly isolated as other nations and financial institutions […]
IEEFA
Wall Street Journal ($): Federal prosecutors on Thursday said utility FirstEnergy Corp. had agreed to pay $230 million to resolve charges that it was involved in a bribery scheme to pass a state bailout of nuclear power plants in Ohio. Under a three-year deferred prosecution agreement, FirstEnergy agreed to pay the penalty and develop a […]
Trista Rose
It’s an (expensive) sorry tale when companies ignore shareholders and continue to invest in fossil fuels
22 July 2021 (IEEFA Australia): In failing to realise its early green ambition AGL Energy, one of Australia’s biggest electricity generators and retailers wiped over 70% off its market value in just four years, destroying A$12 billion in shareholder wealth, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Author […]
Bruce Robertson
Investors are pouring money into a gas-fired recession
22 July 2021 (IEEFA Australia): Of the major exporters, eastern Australia has wholesale contract gas prices that are the 7th most expensive globally, being over 5½ times those of Qatar, the second largest exporter of LNG; over 3 times the price of gas in the U.S.; and nearly 5 times the price of gas in […]
IEEFA
Bloomberg ($): As the European Union gets serious about fighting climate change, experts are fielding more calls than ever from polluters seeking help to trap, process and store their carbon emissions. The business of capturing emissions from industrial plants that make everything from cement to energy will get a push from the European Commission’s ambitious […]
IEEFA
The Guardian: Shareholder activist group Market Forces has asked the corporate watchdog to investigate whether coal company New Hope misled investors by claiming that coal would “remain a significant part of the energy mix”. In letters sent to New Hope Corporation and the Australian Securities and Investments Commission, lawyers for Market Forces have alleged that […]
IEEFA
S&P Global Platts ($): Vistra on July 19 said it would close its 1.3-GW Zimmer coal-fired power plant in Ohio on May 31, 2022, five years earlier than previously announced, after the plant failed to clear the PJM capacity market. “The Zimmer coal-fueled power plant has recently struggled economically due to its configuration, costs, and […]
IEEFA
PV Tech: German renewables developer BayWa r.e. has completed two installations in the Netherlands totalling 71MWp that it says are the largest floating PV plants outside of Asia. The company, together with its Dutch subsidiary GroenLeven, has commissioned its largest floating PV project to date, the 41.1MWp Sellingen park, as well as the 29.8MWp Uivermeertjes […]
Saurabh Trivedi, Tim Buckley and Press Release
Top debt and equity investors committed over $300 billion in 2020 into building renewable energy capacity
19 July 2021 (IEEFA Australia): Despite the economic disruption from COVID-19, top global debt and equity investors are continuing to drive capital into the renewable energy infrastructure sector due to its consistency in providing investment opportunities, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). “Global investors are accelerating their […]
Simon Nicholas
Decade-long coal-fired plant binge slows as government considers gas alternatives
Bangladesh has been faced with the prospect of a major rollout of coal-fired power plants for over a decade. The Bangladesh government’s focus on coal-fired power began with the 2010 Power System Master Plan, and was then reinforced by the 2016 version. Several of these plants are now under construction. For many years since, people […]
IEEFA: Chinese regulators urged to tighten rules for carbon neutral bonds
Bond proceeds going to coal-dominated state-owned enterprises – ESG investors beware1 June 2021 (IEEFA): China’s carbon neutral bonds fail to restrict the use of funds to green projects and are adding to the working capital of coal-dominated state-owned enterprises (SOEs), according to a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA) which calls for deeper reforms to green finance standards […]