Tags Posts tagged with "sustainability"

sustainability

Ignacio Galán in a electric Iberdrola car

Iberdrola, a world leading renewable energy company, has further enhanced its sustainable ambitions by becoming the first Spanish company to sign up to The Climate Group´s EV100 initiative.

EV100 is a global initiative bringing together forward-looking companies committed to accelerating the transition to electric vehicles (EVs) and making electric transport the new normal by 2030.

Under the agreement, sealed within the framework of the Climate Week NYC, Iberdrola will fully electrify its vehicle fleet and provide charging for staff across its operations in Spain and UK- where local EV market conditions make this possible- by 2030.

Iberdrola will also aspire towards this objective in Brazil, Mexico and the USA, but this will be reliant on national characteristics and further developments in the wider EV markets in each of these countries. As part of the partnership, Iberdrola will work with The Climate Group to engage key stakeholders in these countries to help overcome barriers.

A fleet of more than fleet of more than 3,500 vehicles across Spain and UK

This initiative will see Iberdrola have a fleet of more than 3,500 vehicles completely electrified in these two countries by 2030.

Light passenger cars and vans are included, as well as off-road vehicles used for windfarms and power line maintenance tasks like SUVs, pickup trucks and man basket cranes.

Iberdrola has already committed to installing up to 16.000 charging points at homes and 9.000 at workplaces in Spain by 2021. Beyond that, the company´s Smart mobility program for customers is increasing in popularity, which includes both the provision of a charging point and a special tariff to charge vehicles with green electricity.

In the UK, ScottishPower was the first energy company to offer and end-to-end EV ownership package for customers. Working with major car retailer Arnold Clark, buyers can purchase or lease an EV of their choice, book a home charging point installation and sign up to a smart 100% renewable electricity tariff as part of the same package.

In the US, Iberdrola´s subsidiary Avangrid just recently announced the expansion of its partnership with Nissan North America, seeking to provide 3.2 M customers and employees across New York, New England and Oregon with a 5,000 $ discount on the purchase of a Nissan LEAF EV. In addition, the company is also delivering a 34 M$ investment in the expansion of EV charging infrastructure across Maine and New York.

Source: Iberdrola

Parque eólico El Andévalo (Huelva) / El Andévalo wind farm (Huelva)

Iberdrola and Heineken España have added to their commitment to sustainability as a strategic thrust in their businesses with the first long-term Power Purchase Agreement (PPA) in Spain between an electricity supplier and a brewing group. The agreement reached by the two companies will promote the construction of a new photovoltaic plant in Andévalo, which will guarantee the supply of green electricity to the four breweries and offices of Heineken España. The plant will become operational in 2020, in PPA mode, avoiding the mission into the atmosphere of over 100,000 tonnes of CO2 a year.

Andévalo forms part of Iberdrola’s strategy of investing in clean power generation projects in Spain – where it plans to install 3,000 MW by 2022- and its commitment to using bilateral agreements with big customers who are committed to sustainable consumption as a way to promote the supply of energy at affordable, stable prices.

Through this partnership Heineken España will be able to brew its beer using only renewable energies by 2023. To achieve this, Heineken is implementing an ambitious road map which, among other initiatives, encompasses a 100% renewable electricity supply.

Located in the municipality of Puebla de Guzmán (Huelva) and with a surface area of 150 ha., the project will have an installed capacity of 50 MW and will consist of 147,000, 340 Wp polycrystalline silicon modules that will generate 82 GWh/yr. The plant will be built inside the biggest wind farm in continental Europe, El Andévalo (292 MW), developed and managed by Iberdrola since 2010.

In addition to its environmental impact, the new solar photovoltaic installation will contribute to reactivating employment in the local community

Iberdrola’s plan to relaunch clean energy in Spain

The Andévalo photovoltaic project forms part of the company’s commitment to strengthening its investment in the production of clean energy in Spain, by installing 3,000 new MW by 2022. By 2030, company forecasts point to the installation of 10,000 new megawatts (MW). The plan will create jobs for 20,000 people.

Iberdrola’s commitment is to lead the transition toward a completely carbon-free economy by promoting renewable energies and accelerating investment in Spain, where it intends to spend 8 billion euros between 2018 and 2022.

Iberdrola is the most prolific producer of wind energy in Spain, with installed power of 5,770 MW, while its total installed renewable capacity, including both wind and hydroelectric, is 15,828 MW. The company operates 883 MW in Andalusia, mainly using wind power. Globally, Iberdrola’s installed renewable capacity is over 30,300 MW, which makes its generation fleet one of the cleanest in the energy sector.

Iberdrola is a global reference point in the area of PPAs and has long-term power purchase agreements (PPAs) in markets that include Spain, United States and Mexico, with wind and photovoltaic power projects totalling over 1,500 MW. In Spain, the company has been a pioneer in promoting this type of agreement with companies from various sectors (banking, telecommunications, distribution and sports brands).

Beer brewed 100% using renewable energy: the commitment from Heineken España

After covering all the demand for electricity from its breweries in Spain with the development of this new solar photovoltaic installation, Heineken’s plan focuses on replacing its current gas boilers with others that use solar energy in order to bring about its commitment to making its beers using only renewable energy by 2023.

These measures form part of its sustainability strategy Brewing a Better World, which focuses on six priority areas in which the company considers that its activities can make the most positive impact. Among them is the fight against climate change by reducing the amount of CO2 emitted into the atmosphere, a commitment on which Heineken España has made great progress in recent years by reducing its carbon footprint by 64% since 2008. In 2018, the company succeeded in meeting the 2020 goals two years ahead of schedule, setting new challenges for 2030 in the areas of production, cooling and packaging in order to meet the commitments of the Paris climate conference (COP 21) and the UN Sustainable Development Goals (SDG), among which is the commitment to using only renewable energy for the entire production of its beers by 2023.

Source: Iberdrola

0 4

Jinko Solar has been one of only four PV module suppliers to receive a “AA” bankability rating from PV-Tech & Solar Media. Jinko Solar is the only PV module supplier to have AA-Ratings for the past 12 consecutive quarters.

In its first ever quarterly PV ModuleTech Bankability Ratings, PV Tech set out to create an independent, comprehensive and transparent ranking system to help investors, banks, project developers and EPCs differentiate between the hundreds of PV module suppliers that sell to commercial, industrial, and utility customers around the world.

Mr. Kangping Chen, CEO of JinkoSolar, commented, “We are extremely pleased to be recognized by such a reputable and independent organization as PV Tech. 2019 is already shaping up to be one of the top five warmest years on record. As the need for cleaner alternative energy solutions becomes ever more important, and as our industry continues to grow, it is becoming increasingly difficult for customers to distinguish between supplier claims. While we have always been focused on pushing through technological innovations and producing the highest quality modules in the market, we have also deliberately tried to balance profitability and the long-term sustainability of our business.”

Source: Jinko Solar

0 4

The EU’s largest National Promotional Banks and Institutions and the European Investment Bank launch a 10 M€ initiative to accelerate the transition to a sustainable and circular economy

Five European national promotional banks & institutions and the European Investment Bank (EIB) launched today in Luxembourg the Joint Initiative on Circular Economy to support the development and implementation of circular economy projects and programmes in the European Union (EU). This flagship partnership will target at least 10 M€ of investments over the next five years (2019 – 2023). The aim is to prevent and eliminate waste, increase resource efficiency and foster innovation by promoting circularity in all sectors of the economy.

The five national promotional banks & institutions are:

  • Bank Gospodarstwa Krajowego (BGK – Poland)
  • Groupe Caisse des Dépôts (CDC – France) including Bpifrance
  • Cassa Depositi e Prestiti (CDP – Italy)
  • Instituto de Crédito Oficial (ICO – Spain)
  • Kreditanstalt für Wiederaufbau (KfW – Germany)

The six partner institutions will combine their expertise, experience and financial capacity to better support the implementation of viable circular projects and programme approaches. The Joint Initiative on Circular Economy (JICE) will provide loans, equity investment or guarantees to eligible projects and develop innovative financing structures for public and private infrastructure, municipalities, private enterprises of different size as well as for research and innovation projects. JICE builds on the ongoing initiatives led by the European Commission to build knowledge through dedicated working groups and develop financing schemes.

The joint initiative will focus particularly on investments in the EU Member States that will help accelerate the transition to a circular economy. It will target all stages of the value chain and lifecycle of products and services:

  • Circular design and production: applying “reduce and recycle” strategies to design out waste at the source, prior to commercialisation.
  • Circular use and life extension: enabling the reuse, repair, repurposing, refurbishing or remanufacturing of products in use phase
  • Circular value recovery: recovering materials and other resources from waste, recovering waste heat and/or reusing treated wastewater
  • Circular support: facilitating circular strategies in all lifecycle phases, for example with the deployment of key ICT technologies, digitalization and services supporting circular business models and circular value chains.

Project examples:
To illustrate the type of projects eligible under the Joint Initiative for Circular Economy, here are some examples of projects already financed by the six partner institutions.

BGK (Poland)

PKP SKM in Tricity: PKP SKM in Tricity is the local railway carrier, operating on the very important railway line no. 250, connecting Tricity metropolitan area (Gdansk, Gdynia and Sopot) in the north of Poland. In 2012 BGK issued for this company bonds worth 235.400 € with 9 years to maturity. The funds obtained by the company were used as the own contribution to investment in refurbishment of 22 electric multiple units, which allowed to extend their lifetime by another 20 years.

Sklejka Orzechowo: BGK signed a 5.178.664 € investment loan for a new production line for plywood and blockboard production and for related infrastructure. The new production technology and resource loops to be introduced as part of the investment will result in sewage reduction, more efficient biomass use, reduced water consumption, heat recovery and reduced noise emission.

CDC (France)

PHENIX: Bpifrance, via its Smart Cities VC fund, co-led a 15 M€ financing round in PHENIX. The capital raised is used to accelerate growth throughout Europe, invest in the development of new digital services, including the launch of B2C mobile app (‘Phenix app’), and expand towards the management of other waste streams.
BDT – Terradona (France): CDC (Banque des Territoires), together with other public and private institutions, has financed the fundraising of the green-tech company Terradona, creator of Cliiink®, smart and eco-responsible solution for waste sorting. Proposed to local authorities, the innovative Cliiink® solution reduces the cost of treating their waste and improves the cleanliness of their agglomerations, while rewarding good sorters and boosting local trade.

CDP (Italy):

Ex Sadoch (Trieste): The urban regeneration project has concerned the retrofitting of a building complex with over 8,900 m2 that once housed the Saul Sadoch paper factory, a complex, built in 1957 and left unused since the 1990s. Besides the buildings, the project has also allowed the renovation and redevelopment of the surrounding formerly industrial area, which for a long time represented a space of abandonment and degradation. The project was carried out by the FVG Social Housing Fund, in which CDP Investimenti SGR has invested over 60 M€ through “Fondo Investimenti per l’Abitare” (FIA), real estate fund dedicated to social housing.

Ex Manifattura Tabacchi (Milan): A comprehensive retrofitting project of 90,000 m2 of abandoned public estate on a former industrial site, aimed at regaining a semi-central urban plot located close to the Università degli Studi di Milano-Bicocca. The project is being led by an SPV of which 50% of shares are held by CDP Immobiliare and in which CDP invested over 40 M€ to redevelop Edificio2.

EIB (EU-wide)

Novamont Renewable Chemistry: Novamont develops innovative bioplastics and biochemicals based on renewable resources, which are biodegradable and compostable. Novamont’s holistic approach and vision for the bioeconomy, where the business model includes local agriculture as well as the reuse of by-products, is producing positive results for material innovation.

De Lage Landen (DLL) Circularity Loan for SMEs and Midcaps: DLL refurbishes and leases second and third life equipment to companies. The DLL engagement will allow SMEs to save costs and invest in other areas while strongly contributing to the realisation of the circular economy objectives.

KfW (Germany)

Circular use of process heat: Traditional Bakery Müller Egerer had it production processes scrutinised by an energy consultant. KfW provided a promotional loan of 0,9 M€ and the company benefitted from a redemption grant of 150,000 €.

Instituto de Crédito Oficial (ICO – Spain)

Red de Calor de Soria – Biomass District Heating: Leading district heating project in Soria, Spain, wich using woodchip residue from local wood industry as fuel. The project supplies heat and water to more than 16,000 inhabitants and 8,000 homes. Total investment adds up to 20 M€ and ICO participates in a relevant proportion in equity through the FondICO Infrastructures fund. The amount of renewable energy supplied is around 80 GWh/year, saving CO2 emissions for more than 28.000 Tm/year, using local fuel and creating local jobs.

Recycling sea waste: Ecoalf is a circular economy start-up in Spain that collects marine debris from the bottom of the sea, treats it, and converts it into thread to make clothes and accessories. Its goal was to design the first generation of fashion items created with recycled materials that would have the same technical properties as the best non-recycled products, and be of equal quality and design, showing that continuing to misuse the planet’s natural resources indiscriminately is unnecessary.

Source: EIB

Aracati Park

The overall renewable power capacity in Brazil is expected to grow at a compound annual growth rate (CAGR) of 6% from 31 GW in 2018 to 60.8GW in 2030, according to GlobalData.

GlobalData’s latest report: “Brazil Power Market Outlook to 2030, Update 2019 – Market Trends, Regulations, and Competitive Landscape” reveals that increased renewable energy auctions, promotion of hybrid renewable energy projects and other government initiatives such as tax incentives, smart metering, renewable energy targets and favorable grid access policies for renewable energy are likely to result in renewable expansion by 2030.

Between 2019 and 2030, solar PV and onshore wind segments are expected to grow at CAGRs of 14% and 6%, respectively. The significant rise in these two technologies will result in renewable energy being the second largest contributor to the country’s energy mix by 2030.

The connection of over 25,000 power systems, mostly solar PV systems to the Brazilian grid in mid-2018 under the net metering scheme, further underpins the renewable growth pattern over the forecast period.

The main challenges for Brazil’s power sector are its overdependence on cheap hydropower for base-load capacity and lack of a robust power grid infrastructure. In 2018, hydropower accounted for 62.7% of the country’s total installed capacity. In case of a drought, depletion of dam reservoirs could result in power shortages and switching over to costly thermal power which will increase the electricity prices.

In the long term, hydropower capacity is expected to decline and be compensated with increased renewable power capacity. On the other hand, thermal and renewable capacities are slated to increase and contribute 28% and 18%, respectively of the installed capacity in 2030.

Brazil is moving towards a balanced energy mix as it prepares to double its non-hydro renewable power capacity by 2030. With an almost 10GW increase in thermal power capacity by 2030 compared to 2018, the country is on course to better manage peak demand, reduce dependence on hydropower and maintain a healthy grid.

Source: Globaldata

0 12
Global clean energy investment, 2004 to 1H 2019, $ billion

The first half of 2019 saw a 39% slowdown in renewable energy investment in the world’s biggest market, China, to $28.800 M$, the lowest figure for any half-year period since 2013, according to the latest figures from BloombergNEF (BNEF).

 

The other highlight of global clean energy investment in 1H 2019 was the financing of multibillion-dollar projects in two relatively new markets – a solar thermal and photovoltaic complex in Dubai, at 950MW and 4.200 M$, and two offshore wind arrays in the sea off Taiwan, at 640MW and 900MW and an estimated combined cost of 5.700 M$.

The Dubai deal in late March, for the Mohammed bin Rashid Al Maktoum IV project, is the biggest financing ever seen in the solar sector. It involves 2.600 M$ of debt from 10 Chinese, Gulf and Western banks, plus 1.600 M$ of equity from Dubai Electricity and Water Authority, Saudi-based developer ACWA Power and equity partner Silk Road Fund of China.

The two Taiwanese offshore wind projects, Wpd Yunlin Yunneng and Ørsted Greater Changhua, involve European developers, investors and banks, as well as local players. Offshore wind activity is broadening its geographical focus, from Europe’s North Sea and China’s coastline, toward new markets such as Taiwan, the U.S. East Coast, India and Vietnam.

BNEF’s figures for clean energy investment in the first half of 2019 show mixed fortunes for the world’s major markets. The “big three” of China, the U.S. and Europe all showed falls, but with the U.S. down a modest 6% at 23.600 M$ and Europe down 4% at 22.200 M$ compared to 1H 2018, far less than China’s 39% setback.

Breaking global clean energy investment down by type of transaction, asset finance of utility-scale generation projects such as wind farms and solar parks was down 24% at 85.6 M$, due in large part to the China factor. Financing of small-scale solar systems of less than 1MW was up 32% at 23.7 M$ in the first half of this year.

Investment in specialist clean energy companies via public markets was 37% higher at 5.600 M$, helped by two big equity raisings for electric vehicle makers – an $863 M$ secondary issue for Tesla, and a 650 M$ convertible issue for China-based NIO.

Venture capital and private equity funding of clean energy companies in 1H 2019 was down 2% at 4.700 M$. There were three exceptionally large deals, however: $1 billion each for Swedish battery company Northvolt and U.S. electric vehicle battery charging specialist Lucid Motors, and 700 M$ for another U.S. EV player, Rivian Automotive.

Source: BNEF

0 8

Australia’s growing battery storage industry has prompted the update of battery rules. From June to July Growatt will join a number of senior industry experts in New Battery Rules Training Workshops held by Australia’s SEC (Smart Energy Council) and present its smart solar storage solutions to the audience. PV and battery installers, designers, electricians and sales representatives are coming together for training on battery installations, system configurations and storage solutions.

Growatt provides a wide range of solar storage solutions for customers. Growatt SPH single-phase and three-phase hybrid inverters can work at both on-grid and off-grid modes, and they are also compatible with a variety of lithium batteries. For existing solar system, owner can choose to retrofit the system with Growatt SPA single-phase or three-phase inverter and turn it into energy storage system.

Yet, that’s not all. At the event in Melbourne on June 27, Growatt product manager Rex Wang introduced a neat storage ready inverter, TL-XH. The inverter works with low voltage battery and is perfect for home owners who are looking to convert their rooftop PV systems into solar storage systems in the future. What makes it more special is its smart storage management system. With the system, Growatt can gather real-time battery data, including cycle number, cell information, voltage and current of each battery cell. Customers can read the electricity generation, battery status, power consumption on Growatt OSS(Online Smart Service) platform. This data can also help service engineers quickly analyze and diagnose the system and locate faulty part in case of a system failure.

Furthermore, Growatt has been developing and testing its Smart Home Energy Management System that will maximize energy production and optimize power consumption of your solar storage system according to your system location, power consumption habits, etc. In addition, grid operators can access Growatt storage system and integrate the system into the “Micro Grid” to enhance grid stability.

For better customer experience, Growatt offers battery, inverter and accessories as a package. Customers can avoid the hassle reaching out to both inverter and battery manufacturers in case there’re system issues. With extraordinary products and services Growatt has become the World Top 3 Single-Phase PV Inverter Supplier by 2018 according to IHS Markit. Globally, Growatt shipped a total capacity of more than 3.3 GW inverters in 2018 and the number is expected to reach 4 GW this year.

Source: Growatt

0 3

A blueprint for energy transition
Nestled in the foothills of a Catalonian mountain range is a small village that packs a big punch when it comes to Europe’s sustainable energy future. Avià is showing Europe how citizens in local communities can engage in the energy transition, helping the EU achieve its climate and energy targets. In 2015, the local council in Avià adopted an easily-implementable blueprint for boosting renewable energy, energy efficiency and environmental protection.

This cut down its carbon emissions and lowered its demand for expensive fossil fuels, benefitting both citizens and local authorities.

Avià’s public sector alone saves over 300,000 kilowatt-hours in energy each year – a 60% reduction compared to before 2015. This means that the village saves €20,000 and 90 T in CO2 emissions a year, not including private buildings.

Bringing tax savings for citizens
With a budget of €500,000, Avià’s council took a range of relatively simple and attractive steps. First, they reduced local taxes for any citizens taking green measures like fitting solar panels on their roofs and insulating the facade of their house.

In public buildings, solar panels were installed, lighting was switched to LED, buildings were better insulated and only 100% renewable energy companies could bid to supply electricity for public buildings and lighting in the village. Meanwhile, the village has been planning a joint purchase of solar panels for citizens who cannot fit them on their roofs.

The local authority significantly improved the door-to-door recycling scheme, boosting recycling to 70% of the village’s waste. They also implemented measures to protect natural wildlife in the local river, promoted car-pooling with special parking spots set up and installed charging points for electric and hybrid cars.

The village also set up schemes to compost tree trimmings, banned the pesticide glyphosate
in public spaces, and provided dog waste bags to dog owners as well as dog waste composting
facilities.

Providing a model for sustainability
With its easily-replicable model, strong citizen engagement and bold political decisions, Avià
is clearly doing as much as it can to become as efficient and sustainable as possible, providing
a model for villages to help the EU achieve its climate and energy targets.

Source: EUSEW

0 8

The International Energy Agency’s latest and most comprehensive assessment of clean energy transition finds that the vast majority of technologies and sectors are failing to keep pace with long-term goals. Of the 45 energy technologies and sectors assessed in the IEA’s latest Tracking Clean Energy Progress (TCEP), only 7 are on track with the IEA’s Sustainable Development Scenario (SDS). The SDS represents a pathway to reach the goals of the Paris Agreement on climate change, deliver universal energy access and significantly reduce air pollution.

These latest findings follow an IEA assessment published in March showing that energy-related CO2 emissions worldwide rose by 1.7% in 2018 to a historic high of 33 billion tonnes.

Some clean energy technologies showed major progress last year, according to the new TCEP analysis. Energy storage is now “on track” as new installations doubled, led by Korea, China, the United States and Germany. Electric vehicles had another record year, with global sales hitting 2 million in 2018. China accounted for more than half of total sales.

Solar PV remains on track with a 31% increase in generation – representing the largest absolute growth in generation among renewable sources. But annual capacity additions of solar PV and renewable power as a whole levelled off in 2018, raising concerns about meeting long-term climate goals.

This year’s analysis expands coverage to include flaring and methane emissions from oil and gas operations, which are responsible for around 7% of the energy sector’s greenhouse gas emissions worldwide. Despite some positive developments over the past year, current technology deployment rates, policy ambition and industry efforts are still falling well short.

The buildings sector also remains off track, with emissions rising again in 2018 to an all-time high. This was the result of several factors, including extreme weather that raised energy demand for heating and cooling. Another concerning development was the slowdown in fuel economy improvements around the world as car buyers continued to purchase bigger vehicles.

Given the urgency and scale of actions needed for clean energy transitions around the world, this year’s TCEP features much greater emphasis on recommended actions for governments, industry and other key actors in the global energy system. The analysis also includes in-depth analysis on how to address more than 100 key innovation gaps across all sectors and technologies.

TCEP provides a comprehensive, rigorous and up-to-date expert analysis of clean energy transitions across a full range of technologies and sectors. It draws on the IEA’s unique understanding of markets, modelling and energy statistics to track and assess progress on technology deployment and performance, investment, policy, and innovation. It also draws on the IEA’s extensive global technology network, totalling 6,000 researchers across nearly 40 Technology Collaboration Programmes.

TCEP is part of the IEA’s broader efforts on tracking energy transitions and key indicators to help inform decision makers on where to focus innovation, investment and policy attention to achieve climate and sustainable development goals.

Source: IEA

Global energy investment stabilised in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review.

The findings of the World Energy Investment 2019 report signal a growing mismatch between current trends and the paths to meeting the Paris Agreement and other sustainable development goals.

Global energy investment totalled more than USD 1.8 trillion in 2018, a level similar to 2017. For the third year in a row, the power sector attracted more investment than the oil and gas industry. The biggest jump in overall energy investment was in the United States, where it was boosted by higher spending in upstream supply, particularly shale, but also electricity networks. The increase narrowed the gap between the United States and China, which remained the world’s largest investment destination.

Still, even as investments stabilized, approvals for new conventional oil and gas projects fell short of what would be needed to meet continued robust growth in global energy demand. At the same time, there are few signs of the substantial reallocation of capital towards energy efficiency and cleaner supply sources that is needed to bring investments in line with the Paris Agreement and other sustainable development goals.

Renewables investment edged down, as net additions to capacity were flat and costs fell in some technologies, but was also supported by plants under development. Lower solar PV investment in China was partly offset by higher renewable spend in some areas (e.g. United States, developing Asia).

Energy efficiency spending was stable a second year in a row, with limited progress in expanding policy coverage. Despite soaring EV sales, transport efficiency has stagnated, while spending in buildings dipped.

Investment in renewable heat and transport edged down, but spending on new biofuels plants grew.

grafica

The world is witnessing a shift in investments towards energy supply projects that have shorter lead times. In power generation and the upstream oil and gas sector, the industry is bringing capacity to market more than 20% faster than at the beginning of the decade. This reflects industry and investors seeking to better manage risks in a changing energy system, and also improved project management and lower costs for shorter-cycle assets such as solar PV, onshore wind and US shale.

Even though decisions to invest in coal-fired power plants declined to their lowest level this century and retirements rose, the global coal power fleet continued to expand, particularly in developing Asian countries.

The continuing investments in coal plants, which have a long lifecycle, appear to be aimed at filling a growing gap between soaring demand for power and a levelling off of expected generation from low-carbon investments (renewables and nuclear). Without carbon capture technology or incentives for earlier retirements, coal power and the high CO2 emissions it produces would remain part of the global energy system for many years to come. At the same time, to meet sustainability goals, investment in energy efficiency would need to accelerate while spending on renewable power doubles by 2030.

Among major countries and regions, India had the second largest jump in energy investment in 2018 after the United States. However, the poorest regions of the world, such as sub-Saharan Africa, face persistent financing risks. They only received around 15% of investment in 2018 even though they account for 40% of the global population. Far more capital needs to flow to the least developed countries in order to meet sustainable development goals.

The report also found that public spending on energy research, development and demonstration (RD&D) is far short of what is needed. While public energy RD&D spending rose modestly in 2018, led by the United States and China, its share of gross domestic product remained flat and most countries are not spending more of their economic output on energy research.

Source: IEA

COMEVAL
ELT
COFAST-PASCH
AERZEN
IMASA