The 21st century promises to usher in the age of renewable energy. The world today is drawing more and more of its power from the sun, wind, water and biomass fuel, as the cost of these sources — down considerably from seven years ago — continues to drop. In electricity generation, companies are vying to build solar and wind generation facilities at auctions where bid prices are now comparable with those for new coal or natural gas buildups. (The progressive removal of subsidies has enabled market forces to work their magic on prices for solar and wind power.) The latest Bloomberg New Energy Finance analysis, in fact, projects that renewables will account for 64 percent of electricity generation worldwide by 2050. Electricity storage, too, is steadily becoming more affordable, to the extent that electric vehicles are expected to achieve price parity with conventional automobiles by the end of the next decade. Meanwhile, regulatory developments, such as bans in the United Kingdom and in France on the sale of gasoline- and diesel-powered cars after 2040, will help ensure that electric cars keep scaling up in key markets.
Worldview 27th June 2018 read more »
The growing interest from pension funds and infrastructure investors in renewables projects was underlined late last week, as Dalmore Capital Limited and Pensions Infrastructure Platform snapped up a £701m stake in 24 UK wind farms owned by EDF Renewables. The investment, which sees the firms acquire a 49 per cent minority stake in the 550MWportfolio, was backed with investment from large UK local authority pension schemes. Under the terms of the partnership EDF Renewables will retain a 51 per cent share in the projects and will continue to run the sites and to provide operations, maintenance, and asset management services. Parent company EDF Energy will continue to purchase all the electricity and Renewable Obligation Certificates (ROC) generated by the wind farms on market standard terms.
Business Green 2nd July 2018 read more »