miércoles, 18 de octubre de 2017
lunes, 12 de mayo de 2014
Financial Innovation Set to Cut the Cost of Offshore Wind
FTI Consulting Releases First FTI Intelligence Report
LONDON, May 8, 2014 /PRNewswire/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value, today announced the release of an FTI Intelligence report, the first of a series of data-driven publications evaluating competitive markets, policy, finance, technology and business models across the energy spectrum.
The report, Innovative Financing of Offshore Wind, focuses on renewable energy and explores the significant potential for cutting the cost of energy from offshore wind power by reducing financial fees and interest charges, which represent an astonishing 28 percent of project life cycle expenditures. The report is authored by members of the FTI-CL Energy practice, a cross-practice team of energy experts from both FTI Consulting and its subsidiary, Compass Lexecon.
A cost-of-equity sensitivity analysis by FTI-CL Energy professionals demonstrates how small changes in financing variables have a major impact on offshore wind energy costs to the consumer. The levelised cost of energy ("LCOE") is extremely sensitive to changes in debt margin. This analysis found that an increase of 100 basis points results in an average 3.4 percent increase in LCOE.
"Offshore wind energy economics are strongly governed by life cycle financial costs, and the potential to reduce these is considerable," explained Aris Karcanias, Managing Director at FTI Consulting and Leader of the Company's FTI-CL Energy practice in Europe, the Middle East and Africa. "Although financial costs normally are not expressed in terms of their share of overall capital expenditures, identification of the size of the opportunity to reduce capital expenditures shows the importance of financial innovation in providing cheaper electricity from offshore wind."
The report also found that the entry of new investors and lenders to the renewable energy sector with innovative ideas for structuring both equity and debt is applying beneficial pressure to financial margins. "Respectable returns without exposure to risk" was a strong message from European wind industry and financial sector chief executive officers interviewed for this report.
"Corporate and institutional investors looking for low risk, long-term and predictable yield investments are signing on pension, insurance and sovereign wealth funds, to name a few," said Athanasia Arapogianni, Consultant and member of the Company's FTI-CL Energy practice. "Innovative financing and an increase in the number of players in offshore wind finance are creating more competition among lenders, which will lead to lower charges, fees and risk premiums on interest rates."
The report further discovers that offshore wind now rates as an infrastructure asset favourably comparable with airports and highways, qualifying it as a safe harbour for investment and unlocking money markets previously closed to the sector.
"New classes of investors and lenders now are competing for involvement in offshore wind farms during construction and even pre-construction — once considered risky compared with investments in an operational facility," said Mr. Karcanias. "The latest innovation under discussion is bond finance. Investors are well-acquainted with bonds as a financing instrument and are using them to transform offshore wind projects into easy-to-comprehend investment opportunities, which, in turn, will assist in attracting capital to the sector."
In addition to the influx of capital for offshore wind investments, utilities and other equity investors are exercising exit divestment strategies and are selling their interests in completed projects to release capital back into more offshore wind construction.
"Replacement of equity with debt is creating a secondary market in refinancing offshore wind projects," continued Mr. Karcanias. "A clear pattern is emerging of how offshore wind construction will be financed in the future. Capital recycling and the lower capital expenditure levels achieved through learning curve experience are benefits expected to contribute to decreasing annual capital requirements for construction."
The report includes an analysis of this trend and reveals that 46 percent of the required investment by 2020 will be met by recycled capital. Global capacity today is about seven Gigga Watts ("GW") and the report projects capacity reaching 52GW in 2020, driven by notable growth in northern Europe, and 112GW by 2025, as markets in Asia and America continue to grow.
To purchase the FTI Intelligence Innovative Financing of Offshore Wind report in its entirety, visit the FTI Intelligence website at www.fti-intelligence.com or contact Aris Karcanias at aris.karcanias@fticonsulting.com.
viernes, 2 de mayo de 2014
Russia sues EU over ‘Third Energy Package’
lunes, 14 de abril de 2014
Wind energy is a “massive new paradigm of employment”
Wind energy can create hundreds of jobs as part of a new climate change-aware world, said Eddie O’Connor, founder and CEO of Mainstream Renewables. O’Connor described this point in time as a “massive opportunity to go entirely renewable.”
He was referring to today’s threat of rising sea levels which could swamp many of the world’s major cities – a consequence of climate change in turn fuelled by carbon emissions. The fact remains that we are emitting the equivalent of “four Hiroshima bombs into the atmosphere every second of every minute of every day,” he said at EWEA 2014 in Barcelona.
And, if we ignore the threat of climate change, “how do we actually get the money to pay for the consequences?” he asked. If we don’t pay attention to climate change, we might not have a species, he warned.
By 2050, 90% of the EU’s electricity can be powered by renewables, O’Connor said. Meanwhile, for Paolo Frankl, head of renewable energy division at the International Energy Agency (IEA), a level of 58% renewables by 2030, rising to 70% by 2050 is attainable.
But to reach these levels “we need a robust CO2 price, a price that has a meaning”, greater flexibility in electricity markets and more interconnections, Frankl said. We need to work out how to fit in new power generation and phase out the old – “this is a massive power transformation,” he said.
Alexandre Affre, director of industrial affairs at Business Europe, backed the call for a stronger carbon pricing as part of the European Emissions Trading System. He also said a greenhouse gas reduction target for 2030 is needed, and said that Europe must continue to build renewables. However, he questioned whether or not Europe has been “too quick” and has “gone too far” with its renewables build-out, chiding the continent’s “excessive subsidies” and questionable priority grid access for renewables, he said.
Turning to another issue high-up on the energy agenda – costs – Frankl underlined that the high price of fossil fuels is the driver behind today’s high energy prices. “The high prices of fossil fuels is the problem number one in the last five years in Europe,” he said. Rounding-up cost the issue, O’Connor asked: “What can be cheaper than an energy system based on 95% free fuel?”
lunes, 31 de marzo de 2014
Vestas receives largest order ever in Finland for 99MW
Last 7th of March TuuliWatti Oy has placed a 99MW order with Vestas for two projects in Finland using V126-3.3 MW turbines and the new Large Diameter Steel Tower technology. The order consists of two projects utilising V126-3.3 MW turbines and featuring Vestas Large Diameter Steel Towers (LDST), which allows for taller hub heights and therefore greater annual energy production at low wind speeds.
The order comprises the 73 MW Kalajoki project, which will be the first large-scale wind power plant in Finland. Delivery of the turbines will begin in the fourth quarter of 2014 and the project is expected to be completed in Q3 2015.
Delivery of the 26 MW Siikainen project will begin in Q3 2014 and is expected to be completed in Q1 2015. Both projects include a Vestas Online Business SCADA system and a five-year Active Management Output (AOM) 5000 service agreement with options for two additional extensions of five years.
The two projects feature the V126-3.3 MW, which can produce up to 20% more power compared to the V112-3.0 MW on a site with average wind speeds of 6.5 m/s. The towers for the projects will be the recently launched Large Diameter Steel Towers, (LDST), a Vestas-patented concept that features a special wider diameter lower section of the tower, resulting in increased strength without adding extra steel. Therefore Vestas can provide higher towers to customers to optimise power generation at
low wind speed sites for the V117-3.3 MW and V126-3.3 MW.
viernes, 28 de marzo de 2014
Wind and Investment in 2013? Not so much :(
Unfortunately, 2013 wasn’t all good news. Wind energy hit the doldrums in 2012, with revenue falling precipitously to $58.5 billion from $73.8 billion in 2012, and just 35.5GW new capacity installations worldwide – a far cry from a record 44.7GW the previous year.
The wind market would have been even worse if not for China, which installed 16.1GW in 2013 (a whopping 45.4% of all global new capacity) and extended its status as the world’s leader with 91.4GW cumulative installed capacity – 30GW ahead of the US and nearly 60GW ahead of Germany. For context, the US market added just 1GW last year as Production Tax Credit uncertainty created industry headwinds. Clean Edge forecasts fuller sails in the future, with modest growth leading to $93.8 billion in market revenue by 2023.
Clean energy investment’s ledger ran into the red again last year, with total 2013 clean energy investments dropping to $254 billion, down from $286.2 billion in 2012 and a peak of $317.9 billion in 2011. Even China experienced less investment, with a 3.8% funding decline, the first year-to-year drop in more than a decade. Europe and the US fared even worse, with 41% and 8.4% plunges, respectively.
But even though overall investments continued their downward trend, Clean Edge sees a few bright spots. Clean energy funding jumped 55% in Japan to $35.4 billion, while some of the world’s biggest corporations made major investments, and the performance of clean tech companies in publicly traded markets outpaced other industries.
Read full article at http://cleantechnica.com/2014/03/27/2013-renewable-energys-best-times-worst-times/#ztxR5RuHEhzjusCK.99
miércoles, 26 de marzo de 2014
Trends on clean energies for 2014
Trends for 2014
In the 2014 Clean Energy Trends Report, Clean Edge showcases five trends to watch for the coming year. For the first time, this year the authors looked at green building and electric and hybrid vehicles. Since 2000, these sectors have experienced compound annual growth rates of 68.9 percent and 38 percent respectively, according to Clean Edge.
The first trend to keep an eye on is in the utility sector. Clean Edge believes that in 2014 we will start to see “enlightened utilities begin to embrace distributed generation assets.” As rooftop solar continues its steady march towards adoption, utilities will continue to grapple with how to maintain healthy businesses in the face of declining electricity sales. “Some forward-looking utilities, if not fully embracing a distributed energy future, are making investments, forming partnerships, and acknowledging that the threat of DG might also be a business opportunity,” the report states. Clean Edge points to some examples of this that took place in 2013, such as Edison International’s purchase of SoCore Energy, a Chicago-based rooftop solar developer that does work in the commercial space. It also uses Duke Energy’s investment in Clean Power Finance as another example of utilities starting to think about profiting from distributed PV.
This type of movement in the utility sector is taking place in Europe and Asia, too, said Clean Edge. German utility RWE is leading this transition by overhauling its entire business model while in Japan, a country that installed 7 GW of PV in 2013, consumers are seeking technological solutions to their energy woes in a post-Fukushima world. “The country already has some 30,000 homeowners who use fuel cells like Panasonic’s Ene-Farm to generate power on site,” said Clean Edge.
Energy storage is also mentioned as something to keep an eye on and the report said that consumer-sited battery technology is comparable to where PV was in the early 2000s with some early adopters already onboard.
This disruption in the utility sector will have a huge impact on regulators, said Clean Edge. The report quotes former FERC chairman Jon Wellinghoff saying that regulators will need to change from being rate setters for monopoly markets to become rule setters for competitive markets.
Cities Spearheading Change
Interestingly, the 2014 Clean Energy Trends report explains that cities are now starting to take leadership roles in the transition to a low-carbon economy as a way to buffer themselves against the devastating effects of disasters caused, at least in part, by climate change. New York, Seattle, Copenhagen, Sydney and others are showcased in the report as setting initiatives that seek to lower carbon emissions within their city limits.
Many of those low-carbon initiatives center around the building sector, and Clean Edge predicts a rise in net-zero energy buildings in the coming years. The report points to several high-profile net-zero energy buildings that have been erected over the past two years and said that these buildings are raising awareness and helping to prove the net-zero concept.
Although skeptics may contend that examples of net zero buildings are isolated, that will change dramatically in coming years. The European Union has mandated that all new public buildings must achieve “nearly zero” energy status by the end of 2018, and that all other new buildings achieve the same status by the end of 2020.
The marriage of clean tech and the Internet is creating a growing “cleanweb” sector and this is another trend to watch according to Clean Edge. The cleanweb is essentially the use of big data and the Internet to manage resources more efficiently or deploy renewable energy. Everything from ridesharing to financing large-scale renewable energy projects is part of the clean web. Venture Capitalists are paying close attention to this sector as well as we pointed out in our 2014 Renewable Energy Finance Outlook.
Finally the report shows the growing interest in vertical farming. Clean Edge authors believe that as the world population grows vertical farming will become more and more mainstream. This is the last of its five trends.
The full 24-page Clean Energy Trends 2014 report can be downloaded for free at the Clean Edge website.
Read full article here:
http://www.renewableenergyworld.com/rea/news/article/2014/03/renewable-energy-trends-illuminated-in-clean-edges-market-report?utm_source=twitter&utm_medium=social&utm_content=4557407
viernes, 31 de enero de 2014
Financing Solar Projects in Chile Is a Tricky Business
Is Chile’s solar future tied to commodity prices?
Adam James
January 30, 2014
miércoles, 2 de octubre de 2013
Finnish wind energy on the way up
lunes, 16 de septiembre de 2013
Keep your landscape free of noise!
Soundim Rail innovative solutions are all about the noise barrier for the silent landscape.
In June 2013 the City of Tampere and the Traffic Authority of Finland completed the test project in Järvensivu, Tampere, Finland.Soundim Rail is a new type of railroad noise barrier with innovative solutions, which revolutionizes the railroad noise prevention at various levels. The inclinable Soundim Rail facilitates the barrier installation and considerably simplifies special transportations and rail maintenance. The new barrier is only 85 cm high, so the railroad environment landscape stays almost undisturbed.
Source: http://www.soundim.fi/gb/
jueves, 12 de septiembre de 2013
REPERCUSIONES POR EL POSIBLE AUMENTO DE PRODUCCION DE LA EX BOTNIA
jueves, 29 de agosto de 2013
Wind Power Research in Focus 2013
TIME AND PLACE
PARTICIPANTSThe conference is aimed at researchers, administrators in planning and permitting processes, developers, consultants, operators in utilities and manufacturing companies.
PROGRAM
Day 1 has a Nordic theme and speakers from all Nordic countries are invited. The topics will range from ice on blades, electric power systems, maintenance offshore, wind power in forested areas, noise from wind power, effects on wildlife and golden eagles.
PRICE
1000 SEK for both days. There will be an additional fee of 350 SEK for the evening buffet day 1.
REGISTRATION
Register to the conference at vif2013.axaco.se
Last day to register is the 4th of September.
ORGANISERS: Research program for Cold climate, Vindval, Vindforsk and Swedish Wind Power Technology Centre (SWPTC)
miércoles, 28 de agosto de 2013
Analysis of wind turbine statistics in Finland
The thesis also deals with the operational principle of a wind turbine and the most important components of the system.
Main finding is probably that the main causes of downtime are failures in the gear and the hydraulic system. The largest number of failures arises in the hydraulic system. The downtime is spread evenly over the life time of a turbine with about 200 hours of downtime per year and turbine with the exception of the oldest turbines
in the survey. This was due to an increase in downtime in the hydraulic system and tip brakes of older turbines. This result indicates a rise in downtime as the turbine reaches an age of 15 years.
Statistics of production have been compiled since 1992 and the failure statistics since 1996. The failure statistics between years 1996 and 2008 are examined and contains data from 72 wind turbines.
The thesis (in Swedish) is available here: (pdf)
miércoles, 12 de junio de 2013
lunes, 3 de junio de 2013
The SmartGrids ERA-Net launches a new call for applied research projects
In order to support joint European research on smart grid issues, the SmartGrids ERA-Net launches its 3rd call for research projects. The following countries are taking part in the call: Croatia, Denmark, Latvia, Poland, Norway, Sweden and Turkey. The total funding budget is set at € 3 600 000.
Focus areas of the 3rd SmartGrids ERA-Net call are:- Efficient operation of active distribution networks;
- Smart retail and consumer technologies and services, including smart metering hereunder costs & benefits, customer aspects, user behaviour, and flexible demand and energy management strategies in an energy market environment;
- Information and communication technology (ICT) tools for smart grids;
- Interface between the grid and the end-users, including aspects related to security, privacy, regulation and business cases;
- Storage and balancing.
Who can apply?
Within the framework of the national limitations, the 3rd SmartGrids ERA-Net call is open to any resident researcher/eligible institution/business within the participating countries – complying in each case with the national regulations on public funding, unless specified otherwise by the specific programme. The call has a distributed fund where each country funds its own researchers.The projects should involve cooperation/task sharing between the project partners. The project proposals must include partners from at least three of the countries participating in the call (Croatia, Denmark, Latvia, Poland, Norway, Sweden and Turkey).
The call has a two-step application process:
- Each consortium submits a pre-proposal. These will be evaluated by experts in the funding bodies or involved programmes. Some pre-proposals will be selected for the second stage.
- The chosen consortia are then invited to submit full proposals. Final selection is made by the national funding agencies after the full proposals have been evaluated by independent international experts.
The pre-proposals and the full proposals are to be written in English and submitted via an electronic form available on the SmartGrids ERA-Net website. Proposals will be rejected if they have not been submitted correctly in due time.
More information can be found in the published call text, and on the SmartGrids ERA-Net website www.eranet-smartgrids.eu.
Source: Nordic Energy Research
martes, 21 de mayo de 2013
Pöyry appointed to deliver EPCM services for concentrating plant expansion project at Kittilä gold mine
miércoles, 15 de mayo de 2013
Finland selects Finnish-Estonian Nortal for new tax system
Finland rejects IBM's "abnormally low" offer for new tax system, and selects Finnish-Estonian Nortal.
“For us, it is essential that the operational reliability and success of the taxation will be ensured also in the future,” said the Chief Information Officer of the Tax Administration, Markku Heikura.
lunes, 13 de mayo de 2013
Åker Solutions receives contract award notification from Husky
The scope of work includes studies, modifications (EPCI) and campaign maintenance services. The duration is five years with an option to extend the contract for as many as 10 one-year periods.
The estimated contract value is NOK 900 million for the five-year period.
martes, 7 de mayo de 2013
Report of Confidence Indicators (March 2013) from the Confederation of Finnish Industries EK.
The Confederation of Finnish Industries released the report of Confidence Indicators for March, 2013.
Finnish manufacturing confidence stayed unchanged in March. However, the confidence indicator is clearly below its long-term average. The latest indicator figure is -9 (revised figure -9 in February, too). Its long-term average is +3. Production growth is expected to be weak in the coming months. Order books are well below their normal levels. Stocks of final goods have decreased somewhat but they are still slightly above average.
Construction confidence recovered somewhat but is still rather weak. The confidence indicator scored -22 points (revised figure -27 in February). Confidence is well below its long-term average (-6). Order books are smaller than average and personnel is expected to decrease during the next few months.
Service sector confidence indicator climbed to +4 points in March from 0 points in February. Despite the increase, confidence is rather weak as its long-term average is +15. Sales growth gained a little speed in March but only moderate growth figures are forecast for the next few months. The overall business situation has deteriorated further in the first quarter.
Finnish retail trade confidence indicator scored -7 points in March, down from -3 in February. The long-term average is 0 points. Sales growth became negative and expectations for the next quarter are also fairly weak.
Source:
Confederation of Finnish Industries EK