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Rise In Global Clean Energy Investment
12 July 2013 Global investment in clean energy in Q2 was up 22% from Q1, due to upturn in the financing of wind and solar projects and a 170% surge in equity funding for specialist companies on public markets. The investment rose to US$53.1 bn, led by the US, which saw investment jump 155% compared to a weak first quarter, to reach US$9.5 bn, and China (up 63% at US$13.8 bn) and South Africa (up from almost nothing in Q1 to US$2.8 bn in Q2). China was the largest investor in clean energy in Q2, followed by the US. Third on the list was Japan, down 5% at US$7.6 bn followed by South Africa and Australia, up nearly sixfold at US$2.3 bn. Among European countries, Germany led the way with US$1.9 bn, but this was down from US$6.3 bn in Q1. The UK was second with US$1.7 bn, down from$2.8 bn, with France at US$1.2 bn, up from $919 m, and Italy, also at US$1.2 bn, down from $1.3 bn. Europe saw investment fall 44% compared to Q1, reaching just US$9.5 bn – its slowest quarter total for more than six years. The downturn in Europe helped ensure that global investment in clean energy in Q2 2013 ended up 16% below the figure for the second quarter of last year, of US$63.1 bn. “These figures are a mixture of sweet and sour. On the sour side, 2013 globally is still running below 2012, which was itself down on the 2011 investment record. And European investment is clearly being hit by cuts in support for renewable energy and by policy uncertainty, notably ahead of the German election in September,” said Michael Liebreich, chief executive of Bloomberg New Energy Finance . “On the sweet side, the US is back in business following the hiatus that resulted from fears about the possible expiry of the Production Tax Credit for wind at the end of 2012. And the 50% rally in clean energy share prices since their lows last summer, with rises of 200% or more for Tesla Motors and a clutch of major wind and solar manufacturers, is rekindling – at least for the moment – the appetite of stockmarket investors for equity raisings.” The biggest category of investment between April and June 2013 was asset finance of utility-scale projects such as wind farms and solar parks. This was US$31.9 bn, up 39% on the first quarter but down 21% year-on-year. Among the projects financed were Mid American Renewables ’ 681MW Solar Star photovoltaic project in California, at US$2.5 bn, and EDF ’s Blackspring Ridge wind farm phase one, at 299MW and US$588 m, in Alberta, Canada. Investment in small-scale PV projects of less than 1MW continued to be another busy area of activity, accounting for US$17 bn of outlays in the second quarter, in line with Q1, but down 15% year-on-year, largely because of reductions in the cost of PV panels. Public markets’ investment in clean energy companies totalled US$3.8 bn in Q2, up from US$1.4bn in Q1 and the highest quarterly figure for two years. The biggest deal was a US$1.4 bn initial public offering by New Zealand-based geothermal developer Mighty River Power , followed by a US$660 m convertible issue by US electric carmaker Tesla Motors . Tesla also raised US$360m via an issue of ordinary shares. During the second quarter, clean energy shares rose nearly 14%. The Wilder Hill New Energy Global Innovation Index, or NEX, which tracks the performance of 98 clean energy stocks worldwide, was at 151.32 on Tuesday this week, up from a nine-year low of 102.20 reached in July last year. The final major category of investment in clean energy – funding of unquoted companies by venture capital and private equity players – had a quiet Q2, its total of US$1.3bn being down 48% from a relatively strong first quarter and also 20% lower than in the second quarter of 2012. The largest VC/PE transactions of April-to-June were a US$130 m expansion capital round by US fuel cell company Bloom Energy Corporation and an US$84 m bridge-funding round by Irish wind specialist Gaelectric Developments . Asset finance of energy smart technologies amounted to US$14.2 bn in 2012, taking the research company’s overall figure for investment in clean energy last year to US$281.1 bn, compared to 2011’srecord US$317.2 bn. Of the US$148.5 bn invested in asset finance of renewable power and fuels in 2012, over two thirds – or US$102.7 bn – came from local sources in the country concerned, while US$40.3 bn was deployed across borders. The proportion of cross border investment from developed to developing countries reached a new peak in 2012, at 27%, with US$10.8 bn deployed – compared to 17% in 2011 with a revised ‘North-South’ figure of US$9.8 bn. In 2013 so far, asset finance is continuing to show an approximate 70:30 split between domestic and cross-border investment. Continue reading
Pöyry Releases Biocoal White Paper in Conjunction with PAM-Sponsored Biomass Conference
PRESS RELEASE June 18, 2013, 8:05 p.m. ET Pöyry Releases Biocoal White Paper in Conjunction with PAM-Sponsored Biomass Conference Pöyry announces biocoal white paper in conjunction with CMT’s Biomass Pellets Trade & Power in Seoul, September 9-10, 2013, co-hosted by EnerOne and sponsored by Pellet Association Malaysia (PAM) SEOUL, South Korea–(BUSINESS WIRE)–June 18, 2013– Global biomass and renewable power leaders will convene at the Biomass Pellets Trade & Power conference supported by Premium Sponsors Pellet Association Malaysia (PAM) and Agensi Inovasi Malaysia (AIM). PAM establishes common practices and standards and promotes Malaysian pellets internationally, aligning itself with AIM, the Malaysian National Innovation Agency driving innovation agenda and National Biomass Strategy. Asia’s renewable energy outlook is blooming, especially in biopower as consumption in China, Japan and South Korea grows. National Renewable Energy Policy in Japan and South Korea promotes biomass consumption growth, with co-firing in Japan’s power plants projected to increase while South Korea’s biomass usage expands to 10 million t/yr by 2020. The Biomass Pellets Trade & Power presents key country experts, Mr. Ken Kojima, Managing Director of Pellet Club Japan, and Professor Gyu-Seong Han of Chungbuk National University, elaborating on Japan’s and South Korea’s biomass market respectively. A market led by Europe, the global biomass market is expected to expand, with Asia driving up demand for wood and palm pellets and agricultural residues. Leading European biomass trader and power utilities will share markets and operational insights, with EDF Trading Markets’ Mr. Nicholas Tsirigotis on global wood pellets supply and trade dynamics, and Mr. Jens Price Wolf on DONG Energy’s experience in converting existing coal to wood pellets fired power plant. South Korea’s top power utilities, Korea Southern Power (KOSPO), Korea East-West Power (EWP), Korea South-East Power (KOSEP), Korea Western Power (KOWEPO) and Korea Midland Power (KOMIPO) will also lend perspectives on current biomass-based power generation projects and expectations of biomass supply. Onto biocoal, Mr. Andreas Teir, Director of Global BioFutures Practice, Pöyry, and author of “Biocoal — Bioenergy Game Changer in Asia?” white paper, shares more insights on Asia’s biocoal market potentials. Sharing on wood and palm pellets supply, sustainability, agricultural residue, collaborations and biomass market in Malaysia, Canada, US and Russia include Ekman & Co AB, Eco-Frontier, Indufor Asia Pacific, Global Green Synergy Sdn. Bhd., The National Bioenergy Union (Russia) and Firefly AB. http://www.cmtevents…0929&pu=222519 CONTACT: Centre for Management Technology Hafizah Adam, +65 6346 9218 hafizah@cmtsp.com.sg SOURCE: Centre for Management Technology Continue reading
Renewables To Create Quarter Of World’s Electricity By 2018 – IEA
Global electricity generation from renewable energy sources will rise 40 per cent in the next five years, outpacing natural gas, as China and other developing countries expand capacity, according to a report from the International Energy Agency on Wednesday. As the cost of generating power from wind, solar, hydro and other sources falls, renewables will account for nearly 25 per cent of global electricity production by 2018, up from about 20 per cent in 2011, according to the IEA’s latest medium-term renewable energy market report. Renewables will overtake natural gas and be double that of nuclear by 2016, said the IEA, which acts as energy policy adviser to 28 member countries, including the United States, Japan, Canada and leading European nations. “Renewable power sources are increasingly standing on their own merits versus new fossil-fuel generation,” IEA Executive Director Maria van der Hoeven said at the Renewable Energy Finance Forum in New York. Developing countries outside the Organization for Economic Cooperation and Development (OECD) are expected to account for two-thirds of the global increase, the IEA said, with Africa and Asia showing some of the strongest gains. China, with government backing and access to cheap capital, is streaks ahead of other countries, expected to beef up its renewable capabilities by 750 terawatt hours (TWh) between 2012 and 2018. The United States (150 TWh), Brazil (130), India (95) and Germany (70) are also expected to show large increases. In terms of percentage growth, however, smaller economies are seen making the largest strides, with Morocco (25 per cent) and South Africa (20 per cent) leading the list. Much will depend on government policies and regulations to encourage renewable growth. Uncertainty about renewable policies may hamper investment and growth in the sector, the IEA said. “Policy uncertainty is public enemy number one,” van der Hoeven said, citing policies surrounding tax credits in the United States and incentives for wind power in India. Global investment in renewables fell 12 per cent in 2012, according to the report, driven by a drop in European spending as the economic crisis lingers. In the United States, “boom and bust” cycles are hampering development of renewable sources, especially wind, said Paolo Frankl, head of the IEA’s renewable energy division. US President Barack Obama launched a new climate change initiative on Tuesday that would involve cutting carbon emissions from coal-fired power plants and supporting renewable energy sources. Continue reading
