Barclays Raises 2013-2020 EU Carbon Permit Price
Forecast by 13%
Barclays Plc raised its
price estimate for European Union carbon permits in the third phase of the
bloc’s carbon market by 13 percent, citing plans to delay auctioning some
allowances from next year. EU permits in the eight years through 2020 will
average 9 euros ($11.65) a metric ton, up from an estimate of 8 euros
previously, Trevor Sikorski, an analyst at the bank in London, said in a
report today. “We maintain our forecast that 700 million tons will be
back-ended but assume that 60 percent of those volumes are taken out of 2013,”
Sikorski said. “We now assume the volumes only come back in from 2018 onwards.”
Prices for EU permits next year will average 8.50 euros, up from the previous
forecast of 7.50 euros, Sikorski said.
“We remain bearish on the
fourth quarter and the first quarter of 2013 but note that a large set-aside
could create demand for the heavy EUA sales profile we expect,” he said. To
read this article in full click
here
Global renewable energy investments continue to grow
Emerging from the global economic
recession, investments in renewable energy technologies continued their steady
rise in 2011, with total new investments in renewable power and fuels
(excluding large hydropower and solar hot water) reaching $257 billion, up from
$220 billion in 2010. In a year marked by falling costs for renewable
energy technologies, net investment in renewable power capacity was $40 billion
greater than investment in fossil fuel capacity, according to new research
conducted by the Worldwatch Institute's Climate and Energy program. Total
renewable energy investments in industrial countries in 2011 accounted for 65
percent of global investment, increasing 21 percent to $168 billion overall. In
contrast, the 35 percent of global new investment that went to developing
countries increased 10 percent, to $89 billion. Of that sum, China, India, and
Brazil accounted for $71 billion in total investment. To read this article
in full click
here
Terra Firma to Set Up a $5 Billion Renewable Energy
Investment Fund
The private equity firm Terra Firma has joined with the Chinese
Development Bank to create a multi-billion dollar renewable energy investment
fund. They will start “raising
between $3 and $5 billion in the next few months, with China Development Bank
to put an as-yet-undefined amount into the fund.” The move into renewable
energy is not new for Terra Firma who already own; Infinis, which collects
landfill gas; EverPower, a US wind farm operator; and Rete Rinnovabile, Italy’s
leading solar power generator. Despite the cuts that some governments have made
to their renewable energy subsidy schemes, Terra Firm clearly remain confident that
the renewable energy sector is going to continue to grow. To read this article
in full click
here
Lincoln Centre Now 100% Wind Powered
You can feel even better
about attending cultural events at New York City's Lincoln Centre. Lincoln Centre has become the first performing
arts centre in the city to be entirely run on wind power. 100% of Lincoln
Centre’s 21.6 million kilowatt-hours of electricity used each year are now
supplied via RECs purchased from Green Mountain Energy Company. Also
included in the transformation is Juilliard, which in the past was partially
powered from renewable energy, but this is also 100% wind power. Lincoln Centre
touts the wind power purchase as being the equivalent of avoiding 50,500 tons
of CO2 emissions—or recycling 170 million Playbills rather than putting them into
the landfill, or not taking 41 million taxi rides. To read this article in full
click
here
Australia to trade carbon experience
Australia is to join forces with the American State of California to develop carbon
markets, exchange information and experiences and explore options for working
together on clean energy issues and responses to climate change. The
arrangement will provide a forum for sharing experience on climate policy,
including comparative experiences in emissions trading in Australia and
California. The working relationship was announced by the Parliamentary
Secretary for Climate Change and Energy Efficiency, Mark Dreyfus on a visit to
the United States for clean energy and climate talks. “By 2015, the
program will be the world’s third largest emissions trading market, after the
European Union and Korea, covering 85 per cent of California’s emission.” To
read this article in full click
here
Wind energy industry set for massive expansion
Since 1992 wind’s share of
the electricity market has been increasing and it now stands at 18%
THE NUMBER of wind turbines
dotting the landscape looks set to double between now and 2020, according to
reliable estimates. There are more than 1,100 turbines in operation in Ireland,
mostly at 176 onshore “wind farms”, with a further seven offshore at Arklow
Bank. That figure could be even higher if ambitious plans by Element Power for
40 new wind farms in the midlands materialise. With a proposed investment of €8
billion and the prospect of 3,000 permanent jobs, the company says this vast
project would supply 3,000 megawatts of electricity to the British national
grid via a pair of dedicated under-sea cables. To read this article in full click
here
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