Energy infrastructures in Latin America deserve a particular study with regard to Public-Private Partnerships (PPPs). Its different regulatory frameworks and degrees of institutional and operational maturity, make them to have a unique map of risks, policies and best practices. My publication on “PPPs in the Energy Infrastructures: experiences in Latin America” thus is proposed. The demographic increase and the economic growth of the Latin America countries emphasize the need for large investments in infrastructure to reduce the gap, which are also linked to their plans for sustainable development, climate action and interconnection to the infrastructures of the region (for example, electrical networks, gas pipelines and gasification terminals), and the regional energy markets. It is expected that the Public-Private Partnerships can funnel these investments. To do this, governments must create an environment in which the private sector can grow, by developing transparent regulatory frameworks. These reforms should gain the confidence of investors in these countries, which now compete with the other countries in a globalized world, to attract Foreign Direct Investment (FDI) to their energy markets. All this leads to reforms in each country in order to establish a more attractive environment to do business. A new field of opportunities opens up, driven by the national and international expansion plans of the private sector, and the search for better returns by the large investment funds in a context of low interest rates. In this scenario, the International Financial Institutions (IFI) must continue supporting infrastructure development.
“The book makes a multidisciplinary analysis (trade, electricity market, sustainable development, regulation, technology, market agents, investments and financing) of the renewable energy sector in Latin America.“
The work starts with an introductory chapter presenting the need for internationalization of the renewable energy sector, which has a natural development market in Latin America. It then shows the needs, threats and opportunities of the Latin American Electricity Markets. It subsequently proceeds to analyse the sustainable development question in the energy sector, which allows us to enter into the issues associated with climate change and universal access to energy, focusing the analysis on Latin America. From here, the job carries out a critical study of the different renewable energy support mechanisms in the region. Afterwards, it studies the national R&D programs. The writing continues with the agents of the market and the roles and issues they find in their value chain within the region. From it, the book introduces the subject of investment, uncovering the ultimate problem, as well as the origin and destination of the investment flows that Latin America has received in renewable energy. Before finalizing, it analyses the financial instruments used for investment in renewable energy. Finally, the work ends with two real business cases of investment in power plants, which are financially modelled (Project Finance and Project Bonds). As a final conclusion, the writing highlights business opportunities, obstacles and solutions, all influencing the development of renewable energies in the region.
“The book is a vivid example of the great importance of the coordination among different sectors and areas (e.g. financial, monetary, fiscal, political, economic, business, technological, social, etc.), which have different cycles and operations, in order to face the major challenges of mankind today.”
Hydrogen’s innovation in the EU framework of Energy and Climate: hydrogen holds the potential for helping Europe to reach its targets of a climate neutral 2050. The development of new clean tech industries can help Europe to bounce back even faster, while boosting its competitiveness.
Europe is looking at a power system that will be based on more than 80% renewables by 2050. Hydrogen has the potential to reach 13-14% of Europe energy mix by 2050. Today it only reaches just about 2%.
Europe also looks to hydrogen for its use in industry and areas of transport where emissions are difficult to abate and where electrification cannot be guaranteed. Today’s demonstration projects in steel making are very promising and should be scaled up rapidly.
EU industry holds a strong global position in hydrogen, it simply does not have the infrastructure at scale yet to improve on its goals. Thus, Hydrogen strategy puts forward ambitious targets to install 6 GW of electrolyser capacity by 2024 and 40 GW by 2030 producing up to 10 MTn of renewable hydrogen.
Even if the costs have already been reduced by 60% in the last ten years, it is required investments which is the biggest barrier to innovation. EU decreased its public investment in research and innovation by 13% over the last years.
For this reason, the 672.5 billion Recovery and Resilience Facility will channel 37% of its grants and loans to climate-related investment. Also, Horizon Europe has a budget of 95.5 BEUR, 35% of these funds will be dedicated to the green transition.
Aquí no hay Playa Programa del lunes 28 de Agosto de 2017
Por Carlos Honorato y Paloma Nolasco
Entrevista a Miguel Chamochín sobre su libro
Hoy hemos tenido con nosotros a Miguel Chamochín en Onda Madrid, que ha publicado su libro titulado “Internacionalización, Desarrollo Sostenible y Energías Renovables: América Latina”.
Su libro tiene un carácter divulgativo, se dirige tanto a profesionales, como a estudiantes y público general, que quieran adquirir una visión en conjunto del sector de las energías renovables y sus implicaciones para América Latina.
La obra ha sido condicionada por los objetivos de desarrollar las infraestructuras de América Latina y alcanzar el desarrollo sostenible de la región. Estudia estas necesidades y los catalizadores que apoyan estos objetivos. Hace también un análisis de varios aspectos – como el comercio, mercado eléctrico, desarrollo sostenible, regulación, tecnología, agentes de mercado, inversiones y financiación – centrado en el sector de la energía renovable en América Latina. Es un ejemplo de la importancia de la coordinación de estos aspectos, que poseen ciclos y funcionamientos distintos, para realizar una “transición hacia un modelo sostenible”, que afronte los importantes retos que está atravesando la Agenda Internacional. Retos marcados por los Objetivos de Desarrollo Sostenible (ODS) de Naciones Unidas, y el Acuerdo de Cambio Climático de Paris.
The study highlights the importance of promoting and coordinating the collaboration of the different financial actors to address the priority sustainability challenges (sustainable finace). It analyses the different mechanisms that are facilitating the integration of climate change policies and emphasizes the interest of considering the financial sector, in the coordination of policies, such as the implementation of new Laws on Climate Change and Energy Transition.
The study analyses the different mechanisms that are facilitating the integration of sustainability policies in the financial sector driven by the and the Sustainable Development Goals. The G20 and UNEP FI are driving the finance, sustainability and energy nexus through different initiatives which are covered in the work (e.g. TCFD, GFSG, CFSG, PRI, PSI, SSE, PIF). The analysis highlights the importance of other initiatives related to green and climate bonds (green finance), sustainable banking, standards, reporting, indexes, methodologies and sustainability associations.
The inclusion of green securities in the stock market would foster new possibilities for channelling investments, financing debt and opening the door to new sustainable business models nationally and regionally. The analysis highlights the importance of promoting and coordinating the collaboration of the different financial actors to address priority challenges such as climate change, through consulting and involving key actors such as banking regulators, stock exchanges, financial institutions, insurance companies, institutional investors, credit agencies, corporations and relevant ministries.
According to news published by the World Meteorological Organization in February 2014, parts of the world have witnessed a series of extreme weather conditions in the first six weeks of 2014, continuing a pattern that was set in December 2013.
Much of the U.S. has experienced cold waves and major winter storms, whilst California remains gripped by drought. The United Kingdom has seen its wettest December-January period on record, with severe, widespread and prolonged flooding. A combination of strong winds, storms and high tides caused damage and flooding in other coastal areas of Europe. There has been unusually heavy snowfall in the Southern Alps. Monthly mean temperatures were extremely high from eastern Mongolia to eastern China. In the Southern hemisphere, Australia, Argentina and Brazil experienced extended heat waves.
In Argentina, the period of unusual heat, which started in December 2013, continued through January and into February, especially in central and northern regions, with a number of local heat records being set. Parts of Brazil experienced the hottest January on record. An energy blackout early February affected six million people and hit eleven states of Brazil, six of which are scheduled to host the 2014 World Cup next June. Apparently a peak of demand caused by a heat wave had the grid down.
Researchers have identified several extreme weather critical issues on energy sector, including disruptions on power-plant and fuel supplies, due to droughts and severe storms. Extreme climate causes major issues to the energy sector by:
Increasing air and water temperatures;
Decreasing water availability across regions and seasons; and
Increasing intensity and frequency of storm events, flooding and sea level rise.
Some adverse effects have been detected:
Severe losses on infrastructure: there are higher risks to energy infrastructure located along the coasts thanks to sea level rise, the increasing intensity of storms, Continue reading →
Published every six years, the IPCC Assessment Reports are the most comprehensive international assessments on the state of climate science. Similar to prior studies, AR5 is the product of a consensus based process combining the most current scientific data with input from more than 800 climate scientists from dozens of countries.
The AR5 alerts on these key messages:
Humans are largely responsible for rising global temperatures: global surface air temperatures have risen more slowly in recent years, but warming in the oceans Continue reading →