In this weeks news...

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

 t: +44 (0) 20 3384 8680

www.gmouk.com