Thursday, April 30, 2015
BBC News: Church to cut fossil fuel investment
The Church of England will sell investments worth £12m in companies where more than 10% of revenue comes from the "worst-polluting" of fossil fuels.
Read more:
http://www.bbc.co.uk/news/business-32544480
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Wednesday, April 29, 2015
BBC News: California ramps up emissions fight
California ramps up emissions fight
The US state of California has stepped up its attempts to reduce greenhouse gas emissions by setting tough new targets for 2030.
Read more:
http://www.bbc.co.uk/news/world-us-canada-32525180
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Tuesday, April 28, 2015
BBC News: Venezuela cuts hours to save energy
Venezuela announces a nationwide electricity rationing plan that includes cutting the working day for public sector employees.
Read more:
http://www.bbc.co.uk/news/world-latin-america-32506572
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Enel questions value of Yieldcos
You need to take into account that ENEL is the massive Italian energy monopoly with a big treasury and low cost capital. Yeildcos represent competition to their existing biz model. And we know from a recent transaction that some Yeildcos, including Terraform (Sun Edison) are acquiring projects with a 6% unlevered IRR.
Q&A of the week Yieldcos are ’financial arbitrage,’ not value creation Enel Green Power, the Rome-based company that is one of the world’s largest operators of renewable energy, with nearly 10GW of wind, solar, geothermal and hydro-electric plants installed, says it sees no attraction in setting up its own "yieldco" to own commissioned projects. Francesco Venturini, chief executive of EGP, told Clean Energy & Carbon Brief in an interview that yieldcos, a specialist corporation set up to own assets and pay a large proportion of cash flows to investors in the form of dividends, are creating little value. "I actually worry," he said, that if something goes wrong with a yieldco, "then people may think that renewables are a bad thing." North American yieldcos - together with their somewhat different European equivalents, the quoted project funds - sold a record $5bn worth of shares to stock market investors in 2014, and have continued to be a busy area of renewable energy investment activity in the early months of this year. Venturini was speaking on the fringes of the annual Bloomberg New Energy Finance Summit, which took place in New York on 13-15 April. In the interview, he also spoke of Enel Green Power’s interest in the Egyptian solar and wind markets, and of his hopes for a "rethink" by the government in Romania, one of the European countries that has made retroactive changes to policy support for existing renewable power projects. |
Q. What trends are you seeing in terms of investment in renewable power without subsidies? A. We are seeing fully cost-competitive renewables for the first time ever in places such as Brazil. And in the US, wind projects are going ahead even where there is no obligation on the utility to add more renewables and even when gas is so cheap. Utilities are investing because their customers want cleaner energy. It is people power. Small utilities, in particular, also realize the need to try to avoid volatility in the price of the power they are buying. Wind and solar can offer that. And there is also the advantage of speed – to build a 150MW wind farm, we need less than nine months. For a 150MW gas plant, you would need at least three to five years. If there is a quick need for power, renewables are the easiest way to do it, and that is why we have seen so much demand from emerging economies. It is not just about cost. Q. What does Enel Green Power make of the yieldco phenomenon on both sides of the Atlantic? A: Yieldcos are an important part of the equation now because of the specific circumstances of low interest rates and investors’ need for yield. To be able to deliver their promises to the market, yieldcos are buying projects at 8.5% unlevered internal rates of return - otherwise their numbers do not add up. That is effectively the market price so, in my view, there is no real value creation going on. It is pure financial arbitrage.... This is an excerpt from the Clean Energy & Carbon Brief published weekly. To subscribe to the Clean Energy & Carbon Brief, click here. |
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
Goldman Sachs invests $100 million in GCL New Energy
28.04.2015: US multinational investment banking firm Goldman Sachs Group, Inc. has agreed to purchase convertible bonds with an aggregate value of $100 million from Chinese solar project developer GCL New Energy Holdings Ltd., which is 62.28% owned by polysilicon and wafer producer GCL-Poly Energy Holdings Ltd. Through this operation, Goldman Sachs has acquired a 45.4% stake in GCL New Energy. According to GCL New Energy, the bonds will be redeemed on the maturity date at their principal amount plus an amount that will result in a total internal rate of return for Goldman Sachs of 7% per year. GCL New Energy said it will use the funds to finance the acquisition of large-scale PV projects across China »with a predictable cash flow stream in order to fund a regular and increasing dividend to its investors.« © PHOTON http://gclen.todayir.com/attachment/2015042619170200002183681_en.pdf Weitere Informationen finden Sie auch im PHOTON-Archiv unter folgendem Link: |
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
Monday, April 27, 2015
BBC News: Vatican urges action on climate
The Vatican Science Academy will urge Christians to take action on climate change because it threatens the world's poor.
Read more:
http://www.bbc.co.uk/news/science-environment-32487874
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Friday, April 24, 2015
Fwd: Joint Statement on Climate Change from the Premiers of Ontario and Québec
Provincial Premiers move to overcome fossil fuel industry spawn Prime Minister.
From: "Ontario News" <newsroom@ontario.ca>
Date: Apr 24, 2015 7:19 PM
Subject: Joint Statement on Climate Change from the Premiers of Ontario and Québec
To: <mbannerman@arcstarenergy.com>
Cc:
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Bloomberg: Oil at $65 Seen Freeing 500,000 Barrels From Shale Fracklog
Oil needs to recover to $65 a barrel for U.S. drillers to tap a pent-up supply locked in shale wells and unleash more crude on markets than is produced by Libya.
To read the entire article, go to http://bloom.bg/1yYJN34
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Why Mexico is ArcStar's Key Strategic Market
“Mexico is set to become the strongest PV market in Latin America before 2020”, with analyst Adam James remarking: "Mexico tops our list pretty conclusively as the best place in Latin America to do business as a solar developer."
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
150 MW solar plant announced for Mexico's Baja California
Brent, Allen please record total installed cost and discount off tariff rate for PPA’s
Brazilian state of Pernambuco awards first PPA to large-scale PV project
Going to be a stretch to get finance at that PPA rate. The cost of being first to market.
24.04.2015: The Ministry of Economy of the Brazilian state of Permanbuco has awarded Italian renewable energy developer Enel Green Power Spa, a subsidiary of the Enel Group, a PPA for a 11 MW PV plant that the company will build in the region. The project was selected by Pernambuco’s energy agency Recursos Hidricos e Energeticos (SRHE) in the frame of an auction for large-scale PV projects held in December 2013. Enel Green Power will install the plant in Tacaratu, in the desert of Itaparica. The project will be located close to an existing 80 MW wind power plant. Through the solar auction held in 2013, SRHE selected six PV projects totaling 122.8 MW. The six projects have a power range of 5 to 30 MW and require a global investment of 597 million BRL ($198.4 million). The auction ended with an average price of 228.63 BRL ($75.7) per MWh – the starting maximum price for the auction was 250 BRL per MWh. © PHOTON
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
Thursday, April 23, 2015
BBC News: Deutsche Bank hit with record fine
Deutsche Bank hit with record fine
Deutsche Bank is fined a total of $2.5bn (£1.66bn) by US and UK regulators after mostly London-based traders tried to manipulate interest rates.
Read more:
http://www.bbc.co.uk/news/business-32430710
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BBC News: Hubble issues 25th birthday image
The Hubble Space Telescope celebrates its silver anniversary with a picture featuring a spectacular vista of young stars blazing through a dense cloud of gas and dust.
Read more:
http://www.bbc.co.uk/news/science-environment-32433839
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Wednesday, April 22, 2015
SEIA criticizes report on investment tax credit for solar energy
22.04.2015: The US Solar Energy Industries Association (SEIA) has strongly criticized a report published by the Stanford Graduate School of Business, which claims that the US solar industry could be »headed for a cliff« if the solar Investment Tax Credit (ITC) will not be extended. According to the association, the authors of the report called for a phase down of the ITC without any examination of the current and past tax treatments of established energy sources. »Unfortunately, the report looks at the solar Investment Tax Credit in a vacuum, without any consideration given to the 100-year history of preferential tax treatment enjoyed by fossil fuels,« said SEIA president and CEO Rhone Resch. »Without the ITC in place – Resch added - we do agree with the report’s authors that solar ‘is headed for a cliff,’ putting a decade of progress and tens of thousands of American jobs in jeopardy, while the oil and gas industry will continue to receive nearly $100 billion over a 10-year period in special tax breaks. At the end of the day, America benefits from smart, effective public policies which foster full and fair competition.« In February, the US president Barack Obama asked the Congress to make the Solar Investment Tax Credit permanent. Obama’s fiscal 2016 budget request asks Congress to make tax credits for the solar and wind industries permanent, similar to other existing tax credits. The Republican-controlled Senate and House are not expected to make the solar and wind tax credits permanent, but the president’s request suggests that the tax credits could potentially be extended past 2016. Obama’s proposed $3.99 trillion budget for 2016 includes a request for $7.4 billion for clean energy technologies. The solar ITC is a 30% tax credit for solar systems installed on residential and commercial properties and is one of the most important federal policy mechanisms to support the deployment of solar energy in the US. The ITC was implemented in 2006 and was first extended in 2008. The 30% tax credit is currently set to expire on Dec. 31, 2016. After this date, the tax credit for systems installed at commercial properties is set to drop to 10% and the credit for residential systems to zero. © PHOTON |
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
Tuesday, April 21, 2015
Manhattan apartments top gold as instrument for storing wealth, says BlackRock chairman | Crain's New York Business
Like tall towers of oversized safety deposit boxes.
Supply side growing rapidly in Brazil
PV projects under development increased considerably in the past month in Brazil | ||
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Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
Monday, April 20, 2015
FW: CanSIA Policy & Research Update- April 2015
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