In the Spotlight
- 14 June 2018 - 15 June 2018
- The Pride Plaza, New Delhi
- 26 April 2018 - 27 April 2018
- Holiday Inn New Delhi International Airport
- 05 April 2018 - 06 April 2018
- Hotel Mirage, Mumbai
- 11 May 2018 - 11 May 2018
- Kolkata, West Bengal
- 23 February 2018 - 23 February 2018
- Hotel The Mirage
The World Bank has warned that climate change could push tens of millions of people in the developing world to migrate both inside and outside their own countries.
The Bank analysed the impact of ‘slow-onset’ climate change and migratory patterns in three developing regions in the world: Sub-Saharan Africa, South Asia, and Latin America. These slow impacts included water stress, crop failure and the rise in sea levels, which could cause inhabitants to move to more viable areas in order to make a living.
Analysts stated that unless urgent action is taken to mitigate against climate change and develop strong development policies in response, these regions could see 143 million new climate migrants. The focus on slow-onset impacts rather than higher ones, such as hurricanes and floods, also means the estimate is at the low end. However, concerted efforts to make these regions more climate resilient could reduce this figure by up to 80 percent.
The Bank’s modelling of the demographics, economies and climate susceptibility of these regions helped identify certain hotspots for migration. For example, within East Africa a high level of migration was expected from bodies of water, such as Lake Victoria, which currently sustains millions of livelihoods.
The World Bank’s Chief Executive Officer, Kristalina Georgieva, commented: “We have a small window now, before the effects of climate change deepen, to prepare the ground for this new reality”
“Steps cities take to cope with the upward trend of arrivals from rural areas and to improve opportunities for education, training and jobs will pay long-term dividends. It’s also important to help people make good decisions about whether to stay where they are or move to new locations where they are less vulnerable”.
As a result of its findings, the Bank recommends cutting global greenhouse gas emissions to reduce the scale of the problem; transforming development planning to focus more on climate migration, and greater investment in data to better understand the issue.
“Without the right planning and support, people migrating from rural areas into cities could be facing new and even more dangerous risks,” said the report’s team lead Kanta Kumari Rigaud. “We could see increased tensions and conflict as a result of pressure on scarce resources. But that doesn’t have to be the future. While internal climate migration is becoming a reality, it won’t be a crisis if we plan for it now”.
A major new report for the UK Government has highlighted the huge economic potential presented by the world’s oceans.
But it also warns that environmental threats, such as plastic waste and ocean acidification, need to be tackled or its economic value will be lost.
The Foresight Future of the Sea report, published by the UK’s Government Office for Science sees a number of key areas where the oceans can provide opportunities. These include the need to collaborate on fighting climate change, greater use of innovative technologies, such as autonomous vehicles, and improving our understanding of the sea.
The authors point out that the potential economic value of the ocean economy is set to double in the next 12 years to reach an estimated $3 trillion. However, our lack of understand of the oceans, and lack of co-ordination on addressing its threats, put these benefits in jeopardy.
Humans are increasing their reliance on the world’s oceans, partly due to a growing global population, and the exploitation of offshore energy resources, fishing, and seabed mining. These activities, combined with climate change “will compound declining fish stocks, coastal infrastructure, and other economic activities that rely on a healthy and resilient marine environment”, says the report.
The amount of plastics in the ocean is also estimated to treble up to 2025 and ocean warming could increase to 3.2 degrees by the end of the century, depending on how quickly the world reduces its carbon emissions.
It’s precisely within this context that the authors see an opportunity to utilise advancements in science and technology to help coordinate efforts and reduce impacts through growing our understanding.
Increases in data collection, for example, projected to rise 40-fold by 2020, and the development of new autonomous vehicles can help us address these threats. Autonomy is “likely to be the single most important marine technological development”, say the authors, as we increase our reliance on remotely operated vehicles and satellites.
With this increase comes the opportunity to better understand the activities of marine life, reduce pollution and improve decision-making.
Foreign and Commonwealth Office minister Lord Ahmad of Wimbledon commented on its findings: “Both the opportunities and the challenges set out in this important report are global in scale and demand our urgent attention.
“We must keep pushing our scientific understanding of the oceans, harness new technologies, and support commercial innovation. Most of all, we must ensure that governments keep pace with this changing environment. International collaboration remains crucial in order to realise the fullest benefits of our marine industries and scientists, for the UK and the world”.
New research led by Duke University has found that tougher policies on fossil fuel emissions could prevent up to 153 million premature deaths in the immediate term.
Their work concluded that taking action now, rather than later, to limit warming to 1.5 degrees under the Paris Agreement could have significant health benefits in major metropolitan areas around the world, especially in Asia and Africa.
The study ran computer simulations of future carbon emissions in the Earth’s atmosphere under three different scenarios. These ran the impacts of reductions made over the 21st century with no negative emissions; having higher carbon emissions in the near-term, but still limiting warming to 2 degrees, and finally an accelerated reduction in the near-term which limits warming to 1.5 degrees.
The researchers then worked out the health impacts to pollution exposure under each scenario, focussing on major cities. Leading cities to benefit under the early action scenario were the Indian cities of Kolkata and Dehli, estimated to save over 4 million lives each.
In addition, thirteen cities in Asia and Africa could avoid one million premature deaths, and 80 further urban centres could avoid 100,000 deaths.
40 percent of these lives saved could also happen within the next 40 years.
The study claims to be the first to project the number of lives saved by city, looking at 154 in total of the world’s largest urban areas.
Drew Shindell, a Professor of Earth Sciences at Duke, said: “The lowest-cost approach only looks at how much it will cost to transform the energy sector. It ignores the human cost of more than 150 million lost lives, or the fact that slashing emissions in the near term will reduce long-term climate risk and avoid the need to rely on future carbon dioxide removal”.
“That’s a very risky strategy, like buying something on credit and assuming you’ll someday have a big enough income to pay it all back”, he added.
The UK’s capital is making progress towards reducing high levels of air pollution through the uptake of new electric vehicles and charging points.
Figures released by local government association London Councils have shown that boroughs in the capital plan to install at least 2,630 new charging points over the next year, an increase of 300 percent since the start of 2017.
At the same time, London Mayor, Sadiq Khan, has this week launched a new network of rapid charging points across the city, which will greatly reduce the amount of time needed to refuel electric vehicles.
Over the past six months, Transport for London (TfL) has installed 100 new rapid charging points with a total of 150 planned by the end of 2018. A standard charging point can take hours to recharge a vehicle, whereas the new hubs only take 20-30 minutes.
“The roll-out of rapid charging points marks a big step forward in the shift to zero-emission vehicles, which the capital desperately needs to clean up our toxic air. But widespread change will not happen until a sufficient charging infrastructure is in place, allowing taxi drivers, businesses and Londoners to easily make the switch”, said the Mayor.
Any new taxi licensed after 1 January 2018 has to be zero-emission capable, and a £42 million fund is available to help retire the dirtiest taxis. This includes two grants of £5,000 and £7,500 towards purchasing cleaner vehicles.
Councillor Julian Bell, Chair of Transport and Environment Committee at London Councils said that “the harmful effects of poor air quality and pollution on our communities are clear and London boroughs are actively responding to this issue”.
“London boroughs are engaging with their communities and developing solutions tailored to local needs. It is essential we continue to do so and take people with us. London Councils will continue to work with our partners in delivering a modern and environmentally sustainable capital city for the future”.
Photo Credit: Diego Martinez
The 17 Sustainable Development Goals (SDGs) were set by the United Nations in 2015 and adopted by all 193 countries of the UN General Assembly.
Their broad and bold aims target everything from climate action to clean water, from good health to gender equality, with a date of 2030 to achieve them.
These ‘global goals’ are important for the UN and member states to achieve, and their feet will be held to the fire when 2030 comes around. But should they matter to anyone in the private sector, or investment community?
Speaking at the Sustainable Investment Forum in Paris last week, Eric Usher, head of the UN Environment’s Finance Initiative (UNEP-FI), said that the SDGs have “come forward very quickly, faster than I would have thought”.
“All of a sudden it is something that everybody is talking about. We thought it was something for governments to talk about, but it just so happens that the private sector…actually do see it as a framework that is potentially investable”.
UNEP-FI’s own work estimates that the world will need to find roughly $6 trillion dollars a year from now until 2030 to achieve the goals, but that half of that is flowing already. Of that half, they think that 60 percent is already coming from the private sector.
The emergence of an SDG market is also essential, according to Usher, if we are going to “chip away” at some of the more difficult goals.
Major institutions are already getting involved in helping finance the SDGs, either directly, or indirectly. BNP Paribas, for example, assessed that 15 percent of its loans worldwide are going towards supporting the goals, a huge amount.
But as the panellists at the Forum made clear, it’s not something that boards or clients can easily see as part of their problem. And what’s more, not all of the SDGs are equally actionable (compare clean energy with conserving the oceans), and investing in some might even prevent others from being advanced.
A basic question asked during the talk was simply what do we mean by an SDG investment? Classifying industries and sectors by how much they will contribute to the goals is a start. “We found 2,000 stocks with positive impact potential, plus another 2,000 with question marks”, said Willem Schramade, who has worked on a database of sustainable equities at NN Investment Partners.
“The good news is that these companies tend to be more profitable with better growth options”, he added.
Another way towards making the SDGs a more attractive investment prospect is to encourage greater disclosure from companies, in the same vein as climate risk.
Wim Van Hyfte, Global Head of Responsible Investments at Candriam, commented: “If we impose some kind of reporting system on: how do you contribute to society…how do contribute to equality…When these things become measurable, they become manageable. And then investors can then price it”.
It was agreed that for the SDGs to be realised a change of philosophy was needed within the financial sector. To look more at long-term benchmarking of investments over short-termism.
Gerben-Jan Gerbrandy, a Dutch Member of the European Parliament, concluded: “We cannot have economic growth and poverty reduction in the future if we don’t form sustainable economies. And everything else with the SDGs comes from that broader perspective”.
Multinational corporations are fast making the change to a zero-carbon future, and McDonald’s has decided to play a lead role in its adoption.
The company announced today plans to reduce its overall greenhouse gas emissions by 36 percent by 2030, based on a 2015 baseline.
It is also targeting a 31 percent reduction in emissions intensity specifically across its supply chain on the same basis.
McDonald’s estimates that its actions, if successful, will help prevent 150 million metric tonnes of emissions from being emitted into the atmosphere. By some calculations this is the equivalent of removing 32 million cars from the road for an entire year, or planting an astonishing 3.8 billion trees.
The new commitment has been approved by the Science Based Targets Initiative, a campaign designed to help corporations work out how they can cut emissions to keep global temperatures below 2 degrees centigrade.
“To create a better future for our planet, we must all get involved. McDonald’s is doing its part by setting this ambitious goal to reduce greenhouse gas emissions to address the challenge of global climate change,” said Steve Easterbrook, McDonald’s President and CEO, in a video message.
McDonald’s acknowledges that the bulk of its carbon footprint comes from beef production, energy usage and packaging. And so in order to achieve this ambitious target it aims to implement large-scale efficiency and sustainability improvements across its entire network. These include adopting sustainable packaging, forestry and agriculture methods, uptake of LED lighting and energy efficiency equipment in restaurants.
The global restaurant chain has already made strides towards transforming the way it does business; earlier this year it announced all its packaging will be sustainable by 2025. This new goal also commits the company to improved measurement systems and annual reporting on its progress.
Fred Krupp, President of the Environmental Defense Fund, which has previously worked with the company on waste reduction, commented: “As one of the best known brands on the planet, McDonald’s is well positioned to lead, and its ambitious new climate target will inspire innovation, collaboration, and most importantly critical greenhouse gas reductions across the company’s global operations and supply chain”.
Carter Roberts, President and CEO of World Wildlife Fund in the United States, also said that “(the) announcement matters because it commits one of the world’s biggest companies to deliver, with the full breadth of their food chain system, significant emissions reductions based on science”.
The world’s largest green bond fund has been launched with the intention of greatly accelerating green finance in emerging markets.
The International Finance Corporation (IFC), part of the World Bank, and Amundi, Europe’s largest asset manager, co-launched the fund last week.
The new pot of money, called Amundi Planet Emerging Green One, attracted a wide range of investors, including the European Investment Bank (EIB) and Crédit Agricole. While it closed at $1.42 billion on Friday, it is expected to deploy $2 billion into emerging markets over its lifetime.
The fund aims to support climate-smart investments and “significantly increase the scale and pace of climate finance in emerging markets”, according to a statement. Proceeds will be used through to 2025 and reinvested every 7 years.
The IFC provided a $256 million start-up commitment, while the European Investment Bank poured in $100 million.
Philippe Le Houérou, IFC CEO commented: “The global market for green bonds has expanded rapidly in recent years—totalling more than $155 billion in 2017, but few banks in developing countries have issued such bonds. IFC and Amundi expect this new fund to encourage more local financial institutions to issue green bonds, by increasing global demand and building local markets.”
While the market for green bonds is still small, estimated to represent just 1 percent of all global bonds issued, it is expected to grow 30 percent this year alone. Some developing countries, such as Nigeria, have also signalled their intention to use green bonds to fund climate adaption and mitigation projects.
Yves Perrier, Amundi CEO said: “This landmark transaction with IFC contributes to Amundi’s innovative and leading role in the climate finance space. Leveraging on Amundi’s emerging market debt investment capabilities, our commitment to ESG, and IFC’s unique outreach in emerging countries, Amundi Planet is a one-of-a-kind example of the potential that public private partnerships can bring to investors and to the society.”
EIB Vice-President Ambroise Fayolle, added: “This exciting new initiative will transform sustainable investment in countries that are the most vulnerable to climate change, and enable local financial institutions to issue green bonds”.
Alongside the fund, a new technical assistance programme, managed by the IFC, will be created to develop green bond policies and training for bankers.
Swedish energy company Vattenfall has won the right to build a major non-subsidised offshore wind farm in the Netherlands.
The project is one of the first offshore wind farms to ever win a contract without financial support from a government, following a similar auction in Germany last year.
The 700-750 megawatt wind farm, called Hollandse Kust Zuid, will be located 14 miles off the Dutch coast, and cover an area of 137 square miles. Vattenfall estimates it could power up to 1.5 million households upon completion within the next five years.
Dutch Economic Affairs and Climate Minister Eric Wiebes said: “Thanks to drastically lower costs, offshore wind farms are now being constructed without subsidy.
“This allows us to keep the energy transition affordable. Innovation and competition are making sustainable energy cheaper and cheaper, and much faster than expected too.”
Technological developments and government support have helped offshore wind dramatically reduce its cost in recent years. Different European countries, notably Germany and the UK, have been competing to build new projects at as low a price as possible.
The latest Dutch auction is the third in five rounds intended to increase the amount of offshore wind power to 4,500 megawatts by 2023.
Magnus Hall, Vattenfall's President and CEO, said: "This is excellent news for Vattenfall and the Netherlands. It is a significant step for us in view of our ambitions to grow in renewable energy production. We have previously announced that we intend to invest €1.5 billion in growth investments in wind power for the period 2017-2018”.
Offshore wind is seen as a key technology to grow the percentage of renewable energy in the country. The Netherlands sits near the bottom of the EU table for progress in renewables. A government review last year concluded that it is on course to miss its 2020 target to source 14 percent of its energy from renewable sources.
Photo Credit: Nuon
The National Hockey League (NHL) is building on its strong environmental reputation by dedicating an entire month to green initiatives.
Since 2010, the professional ice hockey league has run its ‘NHL Green’ campaign, which usually takes place over one week. This year, the organisation has decided to up the ante and promote its many sustainable projects over the whole of March.
As part of the month, it is encouraging fans and clubs to promote ways to be more environmentally friendly.
The NHL, and its 31 clubs, are members of the Green Sports Alliance, a non-profit organisation based in the US city of Portland. It was worked closely with the NGO to transform the way clubs operate so they are aware of environmental and climate change considerations.
From energy needs to food waste, the NHL is dedicated to moving towards sustainable development. For example, over the past eight years, it has managed to offset 126,000 metric tonnes of carbon dioxide equivalent through forestry, landfill and composting projects.
Its successful Gallons for Goals programme promises to restore 1,000 gallons of water to a critical river for every goal scored. The project has so far helped to restore over 88 million gallons of water to streams in North America.
100 percent of the NHL’s energy use in the past season has been matched through the purchase of renewable energy certificates. This amounted to 235,500 megawatt hours of clean electricity, making it one of the largest users of green power in North America.
The NHL is engaging fans using the #NHLGreen hashtag throughout March
Green Sports Alliance Executive Director Justin J. Zeulner, recently told reporters that: "Imagine if all sports participated in the support and the advancement of renewable power in North America? The NHL has already proven that's possible".
"What can be inspired by being one of the largest users of green power in the US is astonishing. So we're looking to see if all sport can join the NHL and their leadership in this space to advance that here in the United States”, he added.
The National Football League has similarly taken on the challenge with a host of new sustainable projects underway and bearing fruit. This year’s Super Bowl, for example, was the most sustainable event in the tournament’s history.
Photo Credit: pointnshoot/Flickr
The UK’s recent bitter cold snap has had at least one redeeming feature: a bountiful supply of clean electricity.
Official statistics from the National Grid have highlighted how March has seen consecutive wind energy records being set in the country. The culmination of this intense cold weather on Saturday saw 14.3 gigawatts (GW) of electricity being generated for the first time, supplying over one third of Britain’s power needs.
Wind was providing precisely 35.7 percent of Britain’s electricity on Saturday, far ahead of gas on 20.3 percent. Nuclear was providing 17.6 percent and coal 12.9 percent.
The 14 GW record surpasses the previous milestone of 13.8GW set on 1st March. When the cold weather, nicknamed the Beast from the East given its origins in Siberia, was at its height on 2nd March, wind was also top of the generation table, supplying 29.1 percent of power.
Emma Pinchbeck, Executive Director at wind energy trade body RenewableUK, said: “Yet again, wind is playing a key role in keeping Britain going during a cold spell. When the mini Beast from the East struck on Saturday, over a third of the UK’s electricity was being generated by wind.
We’re harnessing a reliable, home-grown source of power which reduces our dependence on imports to maintain the security of our energy supplies”.
The National Grid’s control room tweeted out the news over the weekend
The high levels of renewable generation are also far from a one off. The UK has made extraordinary strides towards increasing its wind power capacity in recent years. 2017 also saw a record 15 percent of all the UK’s electricity coming from wind power alone. All renewables, taking in solar, bioenergy, and hydro, supplied 25 percent.
Photo Credit: Thomas Richter
The UN’s annual World Water Development Report 2018 has highlighted the need to use nature to combat the challenges of a growing population and climate change.
It its detailed analysis, the report demonstrates that demand for water is increasing in developing countries, while simultaneously access is being put at risk by human development and climate change.
Deforestation, intense farming methods and urbanisation are putting these resources under pressure, while climate change is making parts of the world more susceptible to both droughts and flooding. In response, the UN argues that nature has a variety of untapped solutions to help meet these challenges.
“We need new solutions in managing water resources so as to meet emerging challenges to water security caused by population growth and climate change. If we do nothing, some five billion people will be living in areas with poor access to water by 2050. This Report proposes solutions that are based on nature to manage water better. This is a major task all of us need to accomplish together, responsibly so as to avoid water related conflicts,” declared Audrey Azoulay, the Director-General of UNESCO, which worked on the study.
The report makes the case for working with nature to support a “resource-efficient and competitive circular economy”. This mean mimicking natural processes such as soil moisture retention, building large new wetland areas, and restoring floodplains or green roofs.
Incorporating techniques found in natural can have environmental, social and economic benefits and help achieve the vital Sustainable Development Goals into the 2020s, it concludes.
“For too long, the world has turned first to human-built, or “grey”, infrastructure to improve water management. In so doing, it has often brushed aside traditional and Indigenous knowledge that embraces greener approaches. Three years into the 2030 Agenda for Sustainable Development, it is time for us to re-examine nature-based solutions to help achieve water management objectives”, said Gilbert F. Houngbo, Chair of UN-Water and President of the International Fund for Agricultural Development.
It’s hoped that a blend of both green and grey investments can increase water efficiency in a cost-effective way.
Photo Credit: Kelly Fike/USFWS
London’s reputation as a leading financial centre has now extended to include the field of sustainability.
A new Global Green Finance Index (GGFI) has found the city as the top destination for green finance, leading in both the categories of ‘penetration’ and ‘quality’.
The Index, launched by think tanks Z/Yen and Finance Watch, was compiled using survey data from finance professionals and over 100 relevant instrumental factors. These included human capital, infrastructure, legal, and policy factors.
It found that Western Europe scored the highest, featuring nine of the top 10 centres for quality of its green finance offering, and seven of the top 10 for penetration.
Amsterdam, Luxembourg, and Copenhagen performed highly; Chinese cities were also strongly represented with Shenzhen, Guangzhou, Shanghai and Beijing all rated for green finance penetration.
Paris scored the highest for the centre most cited to become more significant in green finace over the next two to three years, followed by Frankfurt and New York.
The survey data provided 1,790 rating from 337 experts over a two month period from December 2017-February 2018. The survey will continue to run online and sampled every six months in future editions of the index.
Respondents were most interested in green bonds and renewable energy as areas of investment, followed by sustainable infrastructure investment and energy efficiency. However, divesting from fossil fuels, carbon disclosure and green insurance showed the least amount of interest.
In addition, the two main drivers behind sustainable finance were seen to be the enabling policy framework in place, taking in tax incentives, mandatory disclosure, and technological change; secondly, demand from investors, climate change, public awareness, and infrastructure investment.
Dr. Simon Zadek, Co-Director, UN Environment Inquiry into the Design of a Sustainable Financial System commented: “Ratings and indexes are important instruments to enable effective communication of relative and absolute progress, as well as encouraging a race to the top, and a healthy debate of what constitutes success and how it can best be measured. In this spirit, Finance Watch and Z/Yen have taken us all to the next level in providing us with the first globally applicable index of developments in greening the world's financial centres”.
Professor Michael Mainelli, Executive Chairman of Z/Yen, added: “The core of the GGFI is a perception survey which observes and promotes change where it matters most – in people’s minds. The more we can get people talking about a sustainable transition, the quicker it will happen. The high level of interest in GGFI 1 is a step in that direction.”
Green Finance Penetration
Green Finance Quality
Source: Finance Watch, Z/Yen
Recent consumer interest is centered around performance enhancements to two of Fiat Chrysler’s high-volume nameplates
A new report from looks at adoption of 48 V mild-hybrid technology, analyzing Fiat Chrysler Automobiles (FCA’s) role in the market and the technology’s impact on electrified vehicles globally.
Though adoption has been on the rise in Europe, 48 V electrical systems have had little presence in the US. During the Los Angeles Auto Show and the North American International Auto Show in December 2017 and January 2018, however, FCA surprised the industry with major new product announcements incorporating 48 V systems in some of its highest volume vehicles. : According to a new report from , this marked a major shift in the near-term outlook for 48 V system adoption in North America.
“The prospects for adoption of vehicles with 48 V mild hybrid systems in North America picked up significant momentum in late 2017 and early 2018 as Fiat Chrysler introduced the technology on two of its highest volume nameplates,” says Sam Abuelsamid, senior research analyst at Navigant Research. “Prior to the announcement of the 2018 Jeep Wrangler and 2019 Ram 1500 pickup, it appeared that only some premium European brands would be launching the technology in North America before 2020.”
While high fuel prices and the desire for reduced greenhouse gases have been strong drivers for European adoption of 48 V systems, in the US, fuel remains relatively inexpensive, and the prevailing political climate at the federal level has shifted away from endorsing efficiency. According to the report, FCA’s marketing emphasis on the performance enhancement of the system has set the stage for mild hybrid systems to finally experience commercial success in North America.
The report, , examines the shift in the adoption of 48 V mild-hybrid technology. It discusses the role FCA is playing in this shift, as well as the impact on the global market for electrified vehicles. The study also examines the requirements for 48 V systems and how the industry is promoting performance and efficiency over green credentials. Recommendations are provided to OEMs and suppliers on what issues they should be monitoring, including consumer acceptance and component costs. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Leveraging 48 V Systems for Improved Automotive Performance and Efficiency, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
This is a two part series on Bitcoin Mining, Blockchain and Renewable Energy. The first part covered the drivers & trend relation between bitcoin mining and the demand for energy in key markets. Also read Praveen's companion article. In this second part we overview how the blockchain technology underlying bitcoin, and the concept of digital / cryptographic tokens, Initial Coin Offerings can be used to drive more peer-to-peer finance for a higher supply of renewable energy, especially across emerging markets.
This is a two part series on Bitcoin Mining, Blockchain and Renewable Energy. The first part covers the drivers & trend relation between bitcoin mining and the demandfor energy in key markets. In the second part we overview how the blockchain technology underlying bitcoin, and the concept of digital tokens, ICOs can be used to drive more peer-to-peer finance for a higher supplyof renewable energy, especially across emerging markets.
Energy TechnologiesNavigant Research's Energy Technologies program focuses on new technology and business models that are driving innovation in clean energy, energy storage, and other advanced power technologies, both on the utility scale and on a distributed basis.
Utility TransformationsNavigant Research’s Utility Transformations research program covers emerging technologies and business models that are shaping the next generation of the electrical grid.
Transportation EfficienciesThe Transportation Efficiencies program examines the global market for hybrid electric, plug-in hybrid electric, and other alternative fuel vehicles and fuels for both consumer and commercial applications.
Building InnovationsNavigant Research's Building Innovations program focuses on the design, construction, and maintenance of highly efficient commercial and residential buildings.
Six critical characteristics address the potential of augmented reality and virtual reality technologies to have significant penetration in utility operations
A new report from examines the latest trends in “digital reality” for small- and large-scale utility deployment, providing detailed recommendations on how utilities and device vendors can capitalize on this market.
Historically, utilities have viewed augmented reality (AR) and virtual reality (VR) as impractical, with limited perceived benefits and functionality, prohibitive costs, and developmental roadblocks. However, innovative hardware improvements and progressive software applications, mixed with decreasing costs, have opened the door for utilities to be pioneers in the deployment of industrial digital reality technology. : According to a new report from , new key applications are driving utility interest in digital reality deployment in operations, training, marketing, and other departments.
“The ability to successfully overlay critical asset information for repairs and inspection, as well as the mapping of geographic information system (GIS) data are extremely useful to utilities and developments in those areas will drive up deployment for AR devices,” says Michael Hartnack, research analyst with Navigant Research. “For VR devices, continued enhancements in immersive image rendering, high definition field of view, and communications will push utilities to seriously consider implementation.”
While AR and VR devices are among the most cutting-edge technologies in today’s consumer electronics landscape, utilities have rarely been early adopters of new technologies. To help decision-makers navigate this new realm of products, Navigant Research has identified six critical characteristics that a digital reality device must possess for significant penetration into utility operations. Each characteristic is identified and discussed in detail in the report.
The report, , discusses the latest market trends in digital reality for grid applications and explores current and potential applications for small- and large-scale utility deployment. It provides detailed and actionable recommendations on how utilities and device vendors can address the fast-changing market. The study also provides an analysis of key market developments and identifies several prominent AR and VR devices in the market today. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Enhancing Utility Operations with Augmented and Virtual Reality, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Solar trackers have seen a tremendous growth in the last few years as costs came down. However, the growth for tracker stayed flat in Indian solar market in 2017-18 in anticipation of fall in module price. Also, developers are still conservative in terms of using a PV tracker in place of a fixed tilt system. One of the reason for this reservation is the difference between tracker gain estimated by PVsyst and the actual gain observed at site. Let’s look at how onsite factors like irradiance, Sun’s position, tracker availability etc. affects tracker gain but still remains a preferential technology with respect to fixed tilt system, especially with higher modules prices.
With the right strategy, smart appliances stakeholders can capitalize on increasing interest in the smart home Internet of Things market
A new report from looks at the shift in the smart appliances market as a subset of the smart home Internet of Things (IoT) trend, examining factors behind the market growth cycle and providing recommendations to key stakeholders.
While a variety of smart home products like smart thermostats, connected lighting, and smart locks are experiencing a wave of adoption, smart appliances haven’t found the same success. Consumers have mostly avoided smart appliances due to higher price points and a lack of perceived value, but this is starting to change. : According to a new report from , the smart appliances market is finally poised for growth.
“The growing smart home IoT market is helping drive new interest in the typically sluggish smart appliances subsegment,” says Neil Strother, principal research analyst with Navigant Research. “The smart appliance market segment is now ready for a healthy growth spurt over the next decade as appliance manufacturers, retailers, and utilities embrace smart appliances, and then convince buyers of the benefits that include enhanced energy efficiency, improved maintenance capabilities, and greater convenience through connectivity.”
According to the report, with proper focus by industry stakeholders, smart appliances could become a much more robust market segment that benefits both buyers and sellers. Stakeholders should be able to ride the IoT smart home wave, executing on key strategies outlined in the report.
The report, , analyzes the shift in the smart appliances market as a subset of the smart home IoT trend and what this shift means for the many stakeholders, which include manufacturers, retailers, utilities, home builders, regulators, and insurers. The study examines the market growth cycle in different regions, as well as the drivers and barriers related to smart appliances. It also provides recommendations on how the key stakeholders can spur smart appliance adoption around the world. An Executive Summary of the report is available for free download on the
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Smart Appliances Expand Smart Home IoT Opportunity for Energy Customers, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
To enhance competitiveness and customer acceptance, utilities and service providers should focus on key differentiators of opportunities for the commercial and industrial segment
A new report from examines the global market for commercial and industrial demand response (CIDR), providing market forecasts for capacity, sites, spending, and revenue, segmented by region, through 2027.
Commercial and industrial facilities represent an important target for utilities and demand response aggregators. While industrial facilities contribute significantly large amounts of load reduction, collective efforts from small and medium commercial customers are also capable of big impacts, especially as the large commercial market becomes saturated. : According to a new report from , global annual revenue for CIDR is expected to grow from $1.9 billion in 2018 to $2.9 billion in 2027.
“While traditional forms of demand response continue to be deployed today, newer forms are emerging and are being integrated with other distributed energy resources (DER), such as energy storage and electric vehicles,” says Brett Feldman, principal research analyst with Navigant Research. “Additionally, as renewable energy adoption continues to increase, demand response provides a key benefit in its ability to help integrate renewable resources by taking advantage of low cost, off-peak energy when wind and solar are abundant.”
In order to enhance CIDR competitiveness and customer acceptance, utilities and service providers should focus on key differentiators of markets and program opportunities, stacking the values as they open up to demand response. According to the report, it’s also important to not look at DR as in a bubble, but to consider it within the context of other DER offerings, including storage, distributed generation, and energy efficiency, to provide the greatest value proposition for customers.
The report, , examines the global CIDR market in five major geographic regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The study provides an analysis of the market issues, including drivers and barriers, associated with global CIDR development. Global market forecasts for capacity, sites, spending, and revenue for CIDR, segmented by region, extend through 2027. The report also explores global CIDR trends to highlight varying regional activity and markets. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Market Data: Demand Response for C&I, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
As IoT technologies become more popular, new threats are appearing and the need for stronger IoT security endures
A new report from looks at cybersecurity threats related to the Internet of Things (IoT) that pose challenges to utilities and other enterprises, providing details on regulatory frameworks and basic strategies for secure IoT implementation.
Cybersecurity attacks threaten the grid, enterprises, and consumer devices on a nearly constant basis, putting valuable digital assets, private information, and corporate secrets at risk, while also carrying the potential for physical harm. As IoT technologies become more popular, new threats are appearing and the need for stronger IoT security endures. : According to a new report from , growing adoption of IoT devices and systems is increasing the number of vectors and surfaces for cybersecurity attacks against utilities and other enterprises.
“The mushrooming number of IoT devices being deployed by utilities and other enterprises carries an obvious and growing security risk,” says Neil Strother, principal research analyst with Navigant Research. “Smart managers need a comprehensive strategy to stay ahead of potentially devastating threats to IoT assets. No longer can managers rely on an old-school reactive approach; instead, they and their security teams must adopt the latest proactive and predictive tools and methodologies to keep devices and systems safe.”
According to the report, the urgency to proactively prevent threats has escalated quickly in the past few years, with corporate customers demanding robust security along value and supply chains. On the consumer side, there is a similar need to improve security for connected home devices and services.
The report, , examines the IoT cybersecurity threats challenging not only utilities, but also other enterprises that have deployed or will be deploying IoT technologies. It examines some of the regulatory frameworks shaping this market and considers the basic strategies that often go unheeded but are necessary for a successful and secure IoT implementation. This study also offers practical steps that stakeholders should take to significantly reduce the ongoing risks they face from cyber attacks. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Managing IoT Cybersecurity Threats in the Energy Cloud Ecosystem, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
The lithium ion market is expected to exceed $23 billion by 2026 thanks to the technology’s low cost, energy density, efficiency, and safety
A new Leaderboard Report from examines the strategy and execution of 10 lithium ion (Li-ion) battery manufacturers, with LG Chem and Samsung SDI ranked as the leading companies.
Rapid growth in markets that rely on Li-ion batteries has allowed suppliers to develop economies of scale through major investments in new manufacturing facilities, which are also driving down prices. With this, the global landscape of Li-ion manufacturers is becoming increasingly competitive as companies vie for market share, leveraging the technology’s benefits of low cost, energy density, efficiency, and safety. : According to a new Leaderboard report from , LG Chem and Samsung SDI are the leading manufacturers of Li-ion batteries.
“Leaders in this market have clearly differentiated themselves from the competition through exceptional product development and strong industry relationships with project developers, utilities, financiers/investors, and system component vendors,” says Ian McClenny, research analyst at Navigant Research. “We believe that these Leaders are poised to spearhead the charge for current and next-generation Li-ion batteries in the coming years.”
Navigant Research expects the Li-ion industry to reach $23.1 billion by 2026. Market growth is likely to be spread primarily among the regions of North America, Europe, and Asia Pacific, driven by regulatory changes and incentives before prices come down enough to compete with retail electricity rates, according to the report.
The report, , examines the strategy and execution of 10 leading Li-ion battery manufacturers that are active in the global market for Li-ion batteries for grid storage. These players are rated on 12 criteria: vision; go-to market strategy; partners; production strategy; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global Li-ion batteries for grid storage market. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Navigant Research Leaderboard: Lithium Ion Batteries for Grid Storage, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Mr.Sujoy Ghosh, Country Head, First Solar, India
2017 is shaping up to be a record year for solar PV installations worldwide as well as in India. We have also witnessed sub 2cents/kwhr tariffs in auctions in Saudi Arabia and Mexico for projects that are expected to be commissioned over the next 24-30 months, thereby creating a further compression in the overall value chain that needs to be met by equipment suppliers, financing agencies and the service providers (engineering, procurement and O&M). Hence the companies that continue to focus on reducing costs, increasing scale and lowering their cost of capital/cost of doing business would be able to sustain through these times. Specifically on the PV module technology, the focus would remain on lowering of cost of production by either optimizing manufacturing processes, and/ or leveraging economies of scale. Also with the transition to more installations between the two tropics, there would be equal focus on long term reliability under harsher climates (hot and humid) and quality and consistency of processes would be under increased scrutiny from the end users. 1500V inverters would probably increase their market share as plant owners try to exploit every ounce of optimization feasible in order to achieve lower LCOE’s, while the scale of the blocks increase due to average increase in project capacities. 2018 would also see a an increased focus on hybridization of PV systems with storage or other forms of generation as grid capacity congestion issues begin to start becoming noticeable with the growth in both solar and wind in the recent past.
Mr. George John,Head -Mytrah Global Services,Mytrah Energy
Reverse bidding has become a norm in the renewable energy sector. The low tariffs especially pertaining to Solar sector can be attributed to the decreasing cost of solar modules due to advancement in technology. However, it is noteworthy that even today, most of our capacity comes
from Chinese manufacturers. The heavy emphasis by the government on ‘Make In India’ initiative is expected to drive the domestic manufacturers into building capacities to compete with the Chinese manufacturers. This would increase the self-reliance of the Solar sector by reducing dependencies.Intermittence in energy supply has been an age-old characteristic of renewable energy sector. Although Solar provides a more predictive forecast based on seasonality and time of the day, the power generation remains intermittent. The increasing global awareness on Battery storage and the technological innovations in this sector is bound to impact the Solar sector in the coming year. A successful breakthrough in terms of balancing the capacities and cost will make Solar sector more profitable in future. With Global companies such as Tesla overlooking Battery Storage innovations,this future might not be too far away.From an investment standpoint, Rooftop Solar has gained momentum and this trend is expected to continue into 2018. Rooftop Solar has seen investment from small scale investors as well, since it provides energy security coupled with government incentives.Another interesting trend we expect to see in Solar sector, especially in the near future, is the rise of smart grid solutions and Hybrid models using both wind and solar power generation. The increasing use of digitalization has already reached the Solar sector and we expect to see increased efficiencies because of this.In conclusion, 2018 will be an interesting year for Solar sector from supply chain point of view as well the enhanced efficiencies.
Mr. Devin Narang Country Head-India Sindicatum Renewable Energy Company.
Globally, India has probably the most robust policies in place for all forms of Renewable energy. What can be expected in 2018 borrows heavily from the initiatives the Government has in store for the sector. Specific targets and a well-defined roadmap to achieving them are encouraging. Addition of power generation capacity – especially through solar parks; building of domestic manufacturing capacities; refinements in Solar Policy (for utility scale & rooftop systems) and Bid Document – in particular, with regard to applicable duties and taxes; resolution of State-specific project development bottlenecks; and enhanced bankability of projects - these are some initiatives in the offing by the Government. Technology, on the other hand has also grown steadily, reflecting in increased component efficiencies at competitive prices. However, with regard to PV modules, prices are expected to pick up from the lows seen hitherto while stabilizing at the optimum. Although the Indian market is nascent when it comes to Storage, it would be interesting to see how solar projects combined with storage sustain in the long run. Finally, two (interconnected) aspects that need concerted initiative from different stakeholders are: creation of energy demand and ensured energy offtake. Schemes such as ‘Deen Dayal Upadhyaya Gram Jyoti Yojana’ (DDUGJY) and ‘Ujwal Discom Assurance Yojana’ (UDAY) have been important enabling factors from a macro perspective. Such developments have spurred growth in the sector – which stands at 15GW plus installed capacity on date. The achievement of 100GW of solar isn’t far.
Developers face varied challenges in building and managing a rooftop solar asset portfolio and some of the key challenges have been highlighted below.
“A road map has been laid out to set up at least 50 solar parks, each capacity of 500 MW. How do you think the solar parks in India are shaping up?”
Ecoprogetti srl is the leading manufacturer of complete Turnkey Line for module manufacturing.
Growth Opportunities in the Indian PV Market & Requirement of Indian Module Companies
Battery Storage companies secure $714 million; Smart Grid companies bring in $422 million; and Energy Efficiency companies receive $384 million
Mercom Capital Group, llc, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for 2017.
To get a copy of the report, visit: http://bit.ly/MercomSGQ42017
In 2017, a combined $1.5 billion was raised by Battery Storage, Smart Grid, and Energy Efficiency companies, an increase from the $1.3 billion raised in 2016.
In 2017, VC funding into Battery Storage companies almost doubled to $714 million raised in 30 deals from the $365 million raised in 38 deals in 2016, largely due to the $400 million Microvast deal. Total corporate funding, including debt and public market financing, rose to $890 million compared to $540 million in 2016.
Energy Storage Downstream companies received the most funding with $68 million followed by Lithium-based Battery companies with $65 million.
The top VC funded companies included: Microvast Power Systems with $400 million, Battery Energy Storage Solutions (BESS) with $66 million, Forsee Power brought in $65 million, Advanced Microgrid Solutions (AMS) raised $34 million, and Primus Power raised $32 million.
Eighty-six VC investors participated in Battery Storage deals in 2017 compared to 62 in 2016.
In 2017, announced debt and public market financing for Battery Storage companies remained steady at $177 million raised in 12 deals compared to $175 million generated by eight deals in 2016.
Three project funds totaling $446 million were announced in the Battery Storage category in 2017, compared to $820 million raised in 2016 in seven deals.
Nine Battery Storage project funding deals were announced in 2017 totaling nearly $2.1 billion. By comparison, just $33 million was raised in four deals in 2016.
There were six M&A transactions in the Battery Storage category in 2017, of which only two disclosed transaction amounts. In 2016 there were 11 M&A transactions, three of which disclosed transaction amounts.
VC funding in the Smart Grid sector rose to $422 million in 45 deals in 2017, compared to $389 million raised in 42 deals in 2016. Total corporate funding, including debt and public market financing, came to $1.2 billion compared to $613 million in 2016.
The top VC funded companies in 2017 were ChargePoint, which brought in $82 million and $43 million in two separate deals, Actility which received $75 million, Brilliant which secured $21 million, and Particle and Urjanet each raising $20 million.
Eighty-eight investors funded Smart Grid companies in 2017, compared to 82 in 2016. Top VC investors in 2017 included: ABB Technology Ventures, Braemar Energy Ventures, Chrysalix Venture Capital, Clean Energy Finance Corporation, Energy Impact Partners, EnerTech Capital, GE Ventures, innogy, National Grid, Obvious Ventures, and Siemens.
Smart Charging of plug-in hybrid electric vehicle (PHEV), vehicle-to-grid (V2G) companies, had the largest share of VC funding in 2017 with $155 million in 10 deals, followed by Demand Response companies with $94 million in four deals.
In 2017, five debt and public market financing deals totaling $774 million were announced, compared to $224 million raised in five deals in 2016. There were no IPOs announced for Smart Grid companies in 2017.
There were 27 M&A transactions recorded in the Smart Grid sector (just seven of these deals disclosed transaction amounts) in 2017 totaling $2.5 billion. In 2016 there were 15 transactions (four disclosed) for $2.4 billion. The top disclosed transaction was the $1.1 billion acquisition of Aclara by Hubbell.
VC funding for the Energy Efficiency sector fell to $384 million in 38 deals in 2017 compared to $528 million in 33 deals in 2016. Total corporate funding, including debt and public market financing, was $3.3 billion, compared to $3.8 billion in 2016.
The top VC funded companies were View, which raised $100 million, followed by Kinestral Technologies with $65 million, RENEW Energy Partners with $40 million, Power Survey and Equipment brought in $24 million, and Stack Lighting with $16 million.
Efficient Home/Building companies captured the most funding with $172 million in five deals in 2017. A total of 51 investors participated in funding deals in 2017 compared to 72 investors in 2016. Energy Impact Partners was the most active investor in 2017.
In 2017, debt and public market financing announced by Energy Efficiency companies fell to $2.9 billion in 16 deals compared to the $3.2 billion raised in 16 deals in 2016. 2017 saw seven Property Accessed Clean Energy (PACE) financing deals bring in more than $1.6 billion compared to 12 deals that brought in $2.3 billion in 2016.
There were two securitization deals in 2017 for nearly $581 million compared to nine securitization deals for $1.8 billion in 2016. Securitization deals have now exceeded $4.5 billion in 24 deals since 2014.
M&A activity for the Efficiency sector in 2017 dropped to 10 transactions, three of which disclosed transaction amounts. In 2016, there were 14 M&A transactions with five that disclosed transaction amounts.
The largest disclosed transaction was the $526 million acquisition of LEDvance by a Chinese consortium consisting of IDG Capital, MLS, and Yiwu.
To get a copy of the report, visit: http://bit.ly/MercomSGQ42017
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence and funding and M&A reports covering Battery Storage, Smart Grid and Energy Efficiency, and Solar, and advises companies on new market entry, custom market intelligence and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: http://www.mercomcapital.com. Mercom's clean energy reports: http://store.mercom.mercomcapital.com/page/.
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Mercom Capital Group, llc, a global clean energy communications and consulting firm, has released its annual report on funding and merger and acquisition (M&A) activity for the solar sector in 2017.
Total global corporate funding into the solar sector, including venture capital/private equity (VC), debt financing, and public market financing raised came to $12.8 billion, a 41 percent increase compared to the $9.1 billion raised in 2016.
To learn more about Mercom’s 2017 Solar Funding and M&A Report, visit: http://bit.ly/MercomSolarQ42017
"A strong fourth quarter pushed overall funding higher in 2017. Higher installation levels around the world, the lack of threat to the solar investment tax credit, lower than expected tariff recommendation by U.S. ITC, strong debt financing activity, and over a billion dollars in securitization deals helped the solar industry have a much better year in terms of financial activity compared to 2016. After several challenging years, most of the solar securities were up in 2017 reflecting overall positive sentiments around the solar industry even as several Chinese manufacturers decided to go private. Of course, all this could change swiftly if President Trump decides to impose higher tariffs in the trade case," commented Raj Prabhu, CEO and Co-Founder of Mercom Capital Group.
Global VC investments came to $1.6 billion in 99 deals in 2017, up 30 percent from the $1.3 billion raised by 78 deals in 2016 - led by several large private equity deals in India.
Solar downstream companies accounted for 85 percent of total VC funding in 2017, bringing in $1.4 billion of the total $1.6 billion raised. Thin-film companies brought in $106 million while service providers raised $47 million.
Investments in PV technology companies came to $40 million and Balance of Systems (BoS) companies raised $36 million. The concentrated solar power (CSP) category raised $8 million and the concentrator photovoltaics (CPV) category received $6 million.
The top VC/PE deals reported in 2017 included a deal for $200 million signed by Lightsource Renewable Energy. ReNew Power also had two deals of $200 million each, followed by Greenko Energy Holdings which raised $155 million. Hero Future Energies raised $125 million and CleanMax Solar raised $100 million. Overall, five of the top six solar VC funding deals in 2017 came from India.
There were 162 VC/PE investors that participated in funding rounds in 2017, with eight involved in multiple rounds: Engie, Avista Development, DSM Venturing, InnoEnergy, Innogy, International Finance Corporation (IFC), Shell, and Techstars.
Public market financing was flat in 2017 to $1.7 billion raised in 33 deals from $1.8 billion raised in 27 deals in 2016. Three IPOs were logged during the year that raised a combined total of $363 million for Canadian Solar Infrastructure Fund, New Energy Solar Fund, and Clenergy.
Announced debt financing in 2017 surged to $9.5 billion compared to $6 billion in 2016. There were six securitization deals in 2017 totaling $1.3 billion. Securitization deals surpassed the $1 billion for the year, a first.
Large-scale project funding announced in 2017 reached a $14 billion raised in 167 deals, compared to $9.4 billion raised in 133 deals during 2016. A total of 161 investors funded about 20.5 GW of large-scale solar projects in 2017 compared to 5.9 GW funded by 153 investors in 2016.
The top investors in large-scale projects included Clean Energy Finance Corporation (CEFC), which invested in 13 projects, followed by Santander with eight deals, and Commonwealth Bank of Australia and Siemens Financial Services with six deals each.
$2.4 billion was raised by 16 residential and commercial solar project funds in 2017 which was down 50 percent compared to $4.9 billion raised by 30 funds in 2016. The top fundraisers were: Sunlight Financial, Sunnova, Solar Mosaic, SolarCity, and Spruce Finance. Since 2009, solar residential and commercial firms offering leases, PPAs, and loans have raised more than $24.8 billion in lease and loan funds.
There were 71 corporate M&A transactions in the solar sector in 2017, up slightly from 68 transactions recorded in 2016. Solar downstream companies were involved in 51 of these transactions. Engie acquired three companies while BayWa, Brookfield Asset Management, Horizon Solar Power, Siva Power, Solar Spectrum, and Sonnedix acquired two companies each. The largest and the most notable transaction in 2017 was the $1.6 billion acquisition of FTP Power (sPower) by AES and Alberta Investment Management (AIMCo) from Fir Tree Partners.
Project acquisitions jumped up 67 percent as a record 228 large-scale solar projects with a combined capacity of more than 20.4 GW were acquired in 2017, compared to 2016 when 12.2 GW changed hands in 218 transactions.
Mercom also tracked 187 large-scale project announcements across the globe that totaled 10.6 GW in Q4 2017 and 922 large-scale project announcements totaling 50.1 GW for all of 2017.
To learn more about Mercom’s 2017 Solar Funding and M&A Report, visit: http://bit.ly/MercomSolarQ42017
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and consulting firm focused exclusively on clean energy and financial communications. Mercom’s consulting division advises cleantech companies on new market entry, custom market intelligence, and overall strategic decision making. Mercom’s consulting division also delivers highly respected industry market intelligence reports covering Solar Energy and Smart Grid. Our reports provide timely industry happenings and ahead-of-the-curve analysis specifically for C-level decision making. Mercom’s communications division helps clean energy companies and financial institutions build powerful relationships with media, analysts, government decision makers, local communities, and strategic partners. For more information about Mercom Capital Group, visit: http://www.mercomcapital.com. To get a copy of Mercom’s popular market intelligence reports, visit: http://eepurl.com/cCZ6nT.
Various Instruments For India’s Clean Energy Support Measures
Credits: IRENA REMap India Paper 2017
Mercom Capital Group, llc, a global clean energy communications and consulting firm, has released its latest quarterly report on funding and merger and acquisition (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors during the third quarter and first nine months of 2017.
To get a copy of the report, visit: http://bit.ly/MercomSGQ32017
Mercom found that, in the first nine months (9M) of 2017, $1.23 billion was raised by Battery Storage, Smart Grid, and Efficiency companies, up from $910 million raised in 9M 2016.
In Q3 2017, VC funding for Battery Storage companies dropped to $83 million in seven deals compared to $422 million raised in 10 deals during Q2 2017. A year earlier, $30 million was raised in nine deals in Q3 2016. In 9M 2017, $563 million was raised in 25 deals compared to $209 million raised in 29 deals in 9M 2016.
The top VC funded Battery Storage companies in Q3 2017 were: Advanced Microgrid Solutions, which raised $34 million from Energy Impact Partners, Southern Company, DBL Partners, GE Ventures, AGL Energy, Macquarie Capital, and former California Governor Arnold Schwarzenegger; Romeo Power, which raised $30 million; and Gridtential Energy, which secured $11 million from 1955 Capital, East Penn Manufacturing, Crown Battery Manufacturing, Leoch International, Power-Sonic, The Roda Group, and the company's chairman, Ray Kubis.
In all, 16 investors participated in Battery Storage funding in Q3 2017 with Energy Storage Downstream companies raising the most.
The third quarter saw two debt and public market financing deals in Battery Storage totaling $45 million compared to $107 million raised in seven deals in Q2 2017. In 9M 2017, $174 million was raised in 11 deals compared to six deals that brought in $120 million in 9M 2016.
There was one M&A transaction involving a Battery Storage company in Q3 2017 compared to three M&A transactions in Q2 2017. In the first nine months of 2017, there were five transactions (two disclosed), down from nine transactions (two disclosed) in 9M 2016. Two Storage projects were also acquired in Q3 2017.
VC funding for Smart Grid companies in Q3 2017 totaled $76 million in 14 deals, compared to $139 million raised in eight deals in Q2 2017. In a year-over-year (YoY) comparison, $11 million was raised in seven deals in Q3 2016. In 9M 2017, $380 million was raised in 36 deals compared to $343 million raised in the same number of deals in 9M 2016.
Top VC funded Smart Grid companies included: Particle, which secured $20 million from Spark Capital, Qualcomm Ventures, and previous investors; INTEREL, which raised $11.9 million in funding from Jolt Capital; Roost, which received $10.4 million in funding from Aviva Ventures, Desjardins Insurance, and Fosun RZ Capital; Tritium, which secured $8 million from entrepreneur Brian Flannery; and Innowatts, which raised $6 million from Shell Technology Ventures, Iberdrola Ventures - Perseo, and Energy & Environment Investment.
In all, 28 investors participated in Smart Grid VC funding rounds in Q3 2017, with SG Communications companies raising the most.
A total of $11 million was raised in one debt financing deal in Q3 2017 compared to the $9 million raised in one deal in Q2 2017. In 9M 2017, $20 million was raised in two deals compared to $217 million raised in four deals in 9M 2016.
There were six M&A transactions (two disclosed) in Q3 2017. In Q2 2017, there were six transactions (two disclosed). In 9M 2017, there were 19 transactions (five disclosed) compared to 13 transactions (four disclosed) in 9M 2016.
VC funding raised by Energy Efficiency companies in Q3 2017 came to $47 million in eight deals compared to $29 million raised in six deals in Q2 2017. In a YoY comparison, $61 million was raised in five deals in Q3 2016. In the first nine months of 2017, $289 million was raised by Energy Efficiency companies in 28 deals compared to $358 million raised in the same number of deals in 9M 2016.
The Top VC deals in the efficiency category included: Power Survey and Equipment, which received $24 million in funding from EnerTech Capital, Investissement Quebec, Cycle Capital Management, Fonds de solidarite FTQ, and BDC Capital; Corvi, which received a $10 million strategic investment from Hero Enterprise; and Deco Lighting, which secured $8 million in funding from Siena Funding.
In all, nine investors participated in VC funding in Q3 2017. Within the sector, Efficiency Components companies brought in the most funding.
Announced debt and public market financing for Energy Efficiency technologies plunged to $615 million in four deals in Q3 2017 compared to the $1.4 billion raised in six deals in Q2 2017. In 9M 2017, $2.3 billion was raised in 13 deals compared to the same amount raised in 11 deals in 9M 2016.
There was one Property Accessed Clean Energy (PACE) financing deal in Q3 2017 for $205 million versus three deals in Q2 2017 that raised $668 million. In 9M 2017, $873 million was raised in four deals compared to the $1.3 billion raised in six deals in 9M 2016.
There were two M&A transactions (one disclosed) involving Energy Efficiency companies in Q3 2017, up from just one undisclosed transaction in Q2 2017. For the first nine months of 2017, there were seven transactions (three disclosed), down from 12 transactions in 9M 2016 (four disclosed).
To get a copy of the report, visit: http://bit.ly/MercomSGQ32017
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence and funding and M&A reports covering Battery Storage, Smart Grid, and Energy Efficiency and Solar and advises companies on new market entry, custom market intelligence and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: http://www.mercomcapital.com. Mercom's clean energy reports: http://store.mercom.mercomcapital.com/page/.
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Large-scale project funding crosses $10 billion in 9M 2017
Mercom Capital Group, llc, a global clean energy communications and consulting firm, released a new report on funding and merger and acquisition (M&A) activity for the solar sector in the third quarter of 2017 and the first nine months of 2017.
To learn more about the report, visit: http://bit.ly/MercomSolarQ32017
Total corporate funding (including venture capital funding, public market and debt financing) in the first nine months (9M) of 2017 was slightly lower compared to the same period in 2016, with about $7.1 billion raised compared to the $7.5 billion raised in 9M 2016. There were 143 deals in 9M of 2017 compared to 125 deals in the same period of 2016.
Looking at just Q3 2017 data, Mercom found that corporate funding in the solar sector grew 74 percent compared to Q2 2017, with $2.4 billion raised in 45 deals. In Q2 2017, $1.4 billion was raised in 37 deals. Year-over-year (YoY), funding in Q3 2017 was about 19 percent lower compared to the $3 billion raised in Q3 2016.
“Debt financing activity outside of the United States helped bump up corporate funding in the third quarter as financing activity in the United States was muted ahead of the Suniva anti-dumping case decision,” commented Raj Prabhu, CEO of Mercom Capital Group.
Global VC funding (venture capital, private equity, and corporate venture capital) for the solar sector in 9M 2017 rose a slight seven percent to $985 million from $925 million raised during the same period in 2016, largely due to a strong first quarter in 2017.
In Q3 2017, VC funding for the solar sector doubled with $269 million raised in 23 deals compared to $128 million raised in the same number of deals during Q2 2017. Most of the VC funding raised in Q3 2017 (72 percent) went to solar downstream companies with $193 million in 13 deals.
The Top VC deal in the third quarter of 2017 was the $100 million raised by Indian rooftop installer CleanMax Solar. It was followed by the $56 million raised by Singapore’s Sunseap Group, the $21 million secured by Sol Voltaics, and Ampt’s $15 million. Ubiquitous Energy also raised $15 million. A total of 35 investors participated in solar funding in the third quarter of 2017.
Solar public market funding was approximately 12 percent lower compared to the first nine months of 2016, with $1 billion raised in 9M 2017 compared to $1.2 billion raised during the same period of 2016. Public market financing fell significantly in Q3 2017 with just $79 million in four deals, down from $473 million raised in six deals in Q2 2017.
During the first nine months of 2017, debt financing activity accounted for $5.1 billion in 51 deals, which was almost six percent lower compared to the first nine months of 2016, when $5.4 billion was raised in 55 deals. In Q3 2017, announced debt financing rose steeply to $2.1 billion in 18 deals compared to the $798 million raised in eight deals during the second quarter of 2017.
In the top debt deals, Greenko Energy Holdings raised $1 billion in green bonds in two separate deals, $650 million and $350 million. Cypress Creek Renewables also received $450 million from Temasek.
Announced large-scale project funding in 9M 2017 crossed the $10 billion mark, with $10.2 billion raised for the development of 117 projects. For the third quarter of 2017 alone, announced large-scale project funding came in at more than $2.8 billion in 36 deals.
Announced residential and commercial solar funds totaled $2.2 billion in 9M 2017, which was lower by almost 35 percent when compared to the $3.4 billion raised during the same period of 2016.
The first nine months of 2017 saw a total of 58 solar M&A transactions, compared to the 48 transactions seen in the same period (9M) of 2016. There were 18 solar M&A transactions in Q3 2017, up from 11 solar M&A transactions seen in the preceding quarter (Q2 2017) and equal to the number of transactions (18) posted in Q3 2016. Of the 18 total transactions in Q3 2017, 13 involved solar downstream companies, three involved PV manufacturers, and there was one transaction each by a BOS company and an Equipment provider.
There were 161 large-scale project acquisitions in first nine months of 2017 aggregating over 14.6 GW, compared to 145 project acquisitions totaling just 7.1 GW during the same period of 2016.
Similar to Q2 2017, investment firms and funds were the most active acquirers in Q3 2017, with 26 projects for over 2 GW, followed by project developers with 16 transactions totaling over 1.1 GW.
Mercom tracked 296 new large-scale project announcements worldwide in Q3 2017 totaling 15.7 GW.
To learn more about the report, visit: http://bit.ly/MercomSolarQ32017
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Presently, the unutilized roofs for roof top plant, barren and low vegetation land for ground mounted systems and Building Integrated Solar PV Plants have been using these unutilized locations for solar plant installation as these require large space for installation of power plant.
Why and how it make sense to go with higher DC system voltage?