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IEEFA Australia: Port of Newcastle’s roadblock on the path away from thermal coal

IEEFA Australia: Port of Newcastle’s roadblock on the path away from thermal coal

Planned fossil fuel exit by the world’s largest coal port is paralysed by lending constraints and a secret NSW government deal

The Port of Newcastle’s planned exit from fossil fuels suffered further setback last month after ANZ withdrew financing from the terminal, presently the world’s largest port for exporting thermal coal. ANZ had previously been a major lender to the port, however divested its position during the latest round of refinancing of approximately A$900 million in […]

March 18, 2021 Read More →
IEEFA Australia: Snowy Hydro gas plant expansions likely to be fuelled with taxpayer funds

IEEFA Australia: Snowy Hydro gas plant expansions likely to be fuelled with taxpayer funds

Gas is a poor bet, and coupled with the financially challenged Snowy Hydro 2.0, is a sure stranded asset maker

19 November 2020 (IEEFA Australia): Careful scrutiny of Snowy Hydro’s latest financial results show the company is heading towards an uneasy reliance on government and taxpayer subsidies post 2021, throwing into serious doubt the government’s heady push for further gas expansion in a declining market, finds a new briefing note by the Institute for Energy […]

, and November 18, 2020 Read More →

IEEFA update: Australia’s gas-led recovery is flogging a dead horse

With LNG worse for the climate than coal, Australia must adjust to our export markets shrinking

With polluting emissions from LNG 13% higher than gas, and Australia’s primary export destinations targeting net zero emissions and therefore less dirty LNG, Australia’s gas-led recovery is looking increasingly like the Australian government is ‘flogging a dead horse’. Australia’s core export markets for LNG, coal and iron ore – Japan, South Korea and China – […]

November 3, 2020 Read More →
IEEFA Australia: Investing in renewable energy will repower aluminium and heavy industry sectors

IEEFA Australia: Investing in renewable energy will repower aluminium and heavy industry sectors

Study shows Gladstone’s aluminium smelter crucial in decarbonisation and jobs drive

15 September 2020 (IEEFA Australia) – Australia’s failing aluminium sector could move to low-cost, zero-emissions electricity and invest in plant modernisation to support demand response management supplying local heavy industry, according to a new report from the Institute of Energy Economics and Financial Analysis (IEEFA). Putting a lens on the industrial energy demand hub of […]

and September 14, 2020 Read More →
IEEFA update: T&D agreement for Puerto Rico power grid sets off alarm bells

IEEFA update: T&D agreement for Puerto Rico power grid sets off alarm bells

Fails to include accountability mechanisms for meeting cost, labor, and green energy goals, Sanzillo tells U.S. House Committee

August 4, 2020 (IEEFA U.S.) – In testimony submitted to the U.S. House Committee on Natural Resources, IEEFA’s director of finance Tom Sanzillo warned of significant problems with a recent agreement for LUMA Energy to take over transmission and distribution (T&D) of Puerto Rico’s electric power grid. The agreement fails to address three major challenges, […]

and August 4, 2020 Read More →

Press release: IEEFA statement on Teck Resources decision to withdraw Frontier Mine proposal

February 24, 2020 – Tom Sanzillo, Director of Finance for the Institute for Energy Economics and Financial Analysis (IEEFA), made the following statement today on Teck Resources’ decision to withdraw its proposal to build the Frontier oil sands mine in Alberta: “Teck’s leadership has acknowledged that conditions have changed, and the $20 billion Frontier project […]

and February 24, 2020 Read More →
IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials

IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials

Joint Review Panel’s approval was based on inflated oil price projections

January 15, 2020 (IEEFA North America) – The Joint Review Panel (JRP) approved Teck Resources’ proposed Frontier oil sands mine, now under federal government review, based on inflated oil price estimates of $95/barrel or better “for years to come,” which is  “misguided and reckless,” according to a report released today by the U.S.-based Institute for […]

, and January 16, 2020 Read More →

IEEFA update: Australia’s first offshore wind project a step in the right direction, despite the cost

Allows early decommissioning of some of the old, polluting, unreliable units of the two Victorian brown-coal fired stations

5 November 2019 (IEEFA Australia): Australia’s first offshore wind project in Victoria is a step in the right direction despite the over investment, according to a new IEEFA note out today. The ‘Star of the South’ off the coast of Gippsland in Victoria is a massive 2.2 gigawatts of wind capacity proposal and will be […]

, and November 4, 2019 Read More →
IEEFA U.S.: Bill to incentivize federal reinvestment in tribal regions of Arizona suggests a model for coalfield communities nationally

IEEFA U.S.: Bill to incentivize federal reinvestment in tribal regions of Arizona suggests a model for coalfield communities nationally

Bipartisan support is possible; Congressional appropriations will be key

Sept. 29, 2019 (IEEFA) — A bill to encourage federal reinvestment in communities hurt by the closure of the Navajo Generating Station (NGS)-Kayenta Mine complex in Arizona suggests a model that could work for coalfield communities nationally, concludes a report published today by the Institute for Energy Economics and Financial Analysis. The report—Bill to Spark […]

and September 19, 2019 Read More →

IEEFA Australia: Australian taxpayers funding subsidies worth billions for Adani’s Carmichael thermal coal mine

Carmichael mine unbankable and unviable without subsidies

29 August 2019 (IEEFA Australia): After yet another three month extension, there is now just one month to go until Adani and Queensland Treasury sign off on a massive 900 million dollar 7-year low interest royalty capital subsidy for the Indian billionaire Adani Group – ensuring no royalty return from Carmichael into the Queensland community […]

and August 29, 2019 Read More →

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IEEFA U.S.: ‘New Promise Act’ would help communities transition from coal-based economy

O’Halleran legislation aims to cushion economic losses caused by plant closures

April 2, 2021 (IEEFA) — The recently introduced New Promise Act, sponsored by Rep. Tom O’Halleran, D-Ariz., marks a potentially important step forward in recognizing the need for a federal commitment to economic revitalization in communities that have been hard-hit by the decline of the coal economy. The bill, inspired by the closure of the […]

and April 2, 2021 Read More →
IEEFA Australia: Port of Newcastle’s roadblock on the path away from thermal coal

IEEFA Australia: Port of Newcastle’s roadblock on the path away from thermal coal

Planned fossil fuel exit by the world’s largest coal port is paralysed by lending constraints and a secret NSW government deal

The Port of Newcastle’s planned exit from fossil fuels suffered further setback last month after ANZ withdrew financing from the terminal, presently the world’s largest port for exporting thermal coal. ANZ had previously been a major lender to the port, however divested its position during the latest round of refinancing of approximately A$900 million in […]

March 18, 2021 Read More →

NextEra proposes 690MW solar farm at closed Iowa nuclear plant

The Gazette: For more than four decades, the name of former Cedar Rapids utility executive Duane Arnold has been synonymous with nuclear power in Iowa. Now it could have a new connotation: a massive solar energy project planned for 2023 near the now-idle Duane Arnold Energy Center. Owner NextEra Energy of Florida this week laid […]

March 18, 2021 Read More →

LG unit plans significant expansion in U.S. battery storage manufacturing capacity

Energy Storage News: LG Energy Solution has announced plans to invest in significantly increased production capacity within the US for batteries to be used in electric vehicles (EVs) and energy storage systems (ESS). The South Korea-headquartered company, recently spun out of parent company LG Chem’s brand towards the end of last year, said it will […]

March 12, 2021 Read More →

Global wind group sees major growth opportunities across Africa

Thomson Reuters Foundation: Wind could power Africa’s energy demands 250 times over and create jobs lost in the move away from fossil fuels but the continent has only tapped into 0.01% of its potential, wind experts said on Thursday. Wind projects are growing fast, with 724MW of new capacity added in 2020, bringing the total […]

March 8, 2021 Read More →

Xcel proposes major transmission project in Colorado to boost renewable energy access

The Colorado Sun: Xcel Energy on Tuesday filed a plan with state electricity regulators for a $1.7 billion project to build 560 miles of transmission lines encircling eastern Colorado designed to bring wind and solar electricity to Front Range population centers from rural areas. The project – Power Pathway – would be done in collaboration […]

March 5, 2021 Read More →

IEEFA U.S.: FERC to reconsider decades-old policy on assessing need for new interstate gas pipelines

Commission asks for public comment on new pipeline construction decisions

The Federal Energy Regulatory Commission (FERC) has announced it will review an outdated policy statement that has guided its decision-making on the necessity for construction of new interstate natural gas pipelines. IEEFA recommended such a review in a report two months ago. The announcement marks an important opportunity for FERC to chart a new, practical […]

February 22, 2021 Read More →

Jobs in offshore wind sector projected to climb sharply through 2030

OffshoreWind.biz: Workforce demand in offshore wind will rise dramatically over the next decade, with the number of jobs in this sector reaching around 589,000 in 2025, while 2030 could see 868,000 full-time offshore wind jobs. Currently, it is estimated that around 297,000 people are working in the sector. This is according to an analysis from […]

February 22, 2021 Read More →

Shale boom largely a bust for local communities—report

Pittsburgh Post-Gazette: In the last decade, Pennsylvania, West Virginia and Ohio produced a tsunami of natural gas that exceeded even the most optimistic projections. That wealth of gas was supposed to translate into newly thriving local economies. According to a report released Wednesday by the Ohio River Valley Institute, the local renaissance never happened. Instead, […]

February 11, 2021 Read More →

Greek government approves 2.8GW of new renewable energy capacity

Ekathimerini.com: The government on Monday approved four new investment projects in electricity production from renewable energy sources with a total budget of 2.02 billion euros. The projects that the Ministerial Committee for Strategic Investments, led by Development and Investments Minister Adonis Georgiadis, approved have a combined capacity of 2,810.3 megawatts and will create more than […]

December 23, 2020 Read More →
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