Prospect of limiting the global increase in temperature to 2ºC is getting bleaker
// www.iea.org
30 May 2011
CO2 emissions reach a record high in 2010; 80% of projected 2020 emissions from the power sector are already locked in
Energy-related carbon-dioxide (CO2) emissions in 2010 were the highest in history, according to the latest estimates by the International Energy Agency (IEA).
After a dip in 2009 caused by the global financial crisis, emissions are estimated to have climbed to a record 30.6 Gigatonnes (Gt), a 5% jump from the previous record year in 2008, when levels reached 29.3 Gt.
In addition, the IEA has estimated that 80% of projected emissions from the power sector in 2020 are already locked in, as they will come from power plants that are currently in place or under construction today.
“This significant increase in CO2 emissions and the locking in of future emissions due to infrastructure investments represent a serious setback to our hopes of limiting the global rise in temperature to no more than 2ºC,” said Dr Fatih Birol, Chief Economist at the IEA who oversees the annual World Energy Outlook, the Agency’s flagship publication.
Global leaders agreed a target of limiting temperature increase to 2°C at the UN climate change talks in Cancun in 2010. For this goal to be achieved, the long-term concentration of greenhouse gases in the atmosphere must be limited to around 450 parts per million of CO2-equivalent, only a 5% increase compared to an estimated 430 parts per million in 2000.
The IEA’s 2010 World Energy Outlook set out the 450 Scenario, an energy pathway consistent with achieving this goal, based on the emissions targets countries have agreed to reach by 2020. For this pathway to be achieved, global energy-related emissions in 2020 must not be greater than 32 Gt.This means that over the next ten years, emissions must rise less in total than they did between 2009 and 2010.
“Our latest estimates are another wake-up call,” said Dr Birol. “The world has edged incredibly close to the level of emissions that should not be reached until 2020 if the 2ºC target is to be attained. Given the shrinking room for manœuvre in 2020, unless bold and decisive decisions are made very soon, it will be extremely challenging to succeed in achieving this global goal agreed in Cancun.”
In terms of fuels, 44% of the estimated CO2 emissions in 2010 came from coal, 36% from oil, and 20% from natural gas.
The challenge of improving and maintaining quality of life for people in all countries while limiting CO2 emissions has never been greater. While the IEA estimates that 40% of global emissions came from OECD countries in 2010, these countries only accounted for 25% of emissions growth compared to 2009. Non-OECD countries – led by China and India – saw much stronger increases in emissions as their economic growth accelerated.
However, on a per capita basis, OECD countries collectively emitted 10 tonnes, compared with 5.8 tonnes for China, and 1.5 tonnes in India.
http://www.iea.org/index_info.asp?id=1959
Renewable Energy
Germany Seeks to Double Production of Renewable Energy Within Decade
//Bloomberg
By Nicholas Comfort
May 30, 2011
Germany wants to double renewable energy output by 2020 from 17 percent last year, Chancellor Angela Merkel said today at a press conference in Berlin.
The government wants to reduce carbon-dioxide emissions by 40 percent by 2020, the chancellor said.
To contact the editor responsible for this story: Nicholas Comfort at ncomfort1@bloomberg.net
http://www.bloomberg.com/news/2011-05-30/germany-seeks-to-double-production-of-renewable-energy-within-decade.html
Positive outlook for renewables set to boost mergers and acquisitions
// RenewableEnergyMagazine
Friday, 10 June 2011
Toby Price
The renewable energy space is expected to see a high level of merger and acquisition (M&A) activity in the next 12 months, with Europe predicted to be the most active, according to a new report published by mergermarket, in association with Rödl & Partner.
In a survey conducted in Q2 2011 of 100 senior M&A practitioners involved in the renewable energy sector, 72% expect an increase in renewable energy M&A activity. This bullish sentiment could be attributed to a number of factors, including the devastating effects of the Fukushima disaster.
"Investors of all shapes and sizes are competing against one another in this flourishing sector, therefore sustainable future growth can only be assured in two ways - by beating out the competitors or by acquiring them," explains Michael Wiehl, Rödl & Partner Nuremberg.
67% of respondents expect Europe to be at the forefront of this increase, forecasting the region will see significant activity. This is attributed by some respondents to Europe's variety of resources, with one respondent noting that: "Europe has a great diversity: The Nordics are great for wind power; Italy, Spain and Greece for solar; and continental Europe for geothermal and biomass." The long-term feed-in tariffs introduced by Germany are also highlighted as an important aid in bolstering renewable energy investment.
The renewable sector globally has seen 51 deals at a total value of €10.6 billionthis year-to-date. Iberdrola's pending 20% stake bid for Iberdrola Renovables SA is the biggest deal of the year at €2.6 billion, followed by Electricite de France SA's €1.5bn bid for EDF Energies Nouvelles SA (50% stake).
Additional findings in the report include:
- A number of respondents commented on the recent Fukushima disaster, believing it will prompt a movement towards rethinking nuclear energy, making the renewable energy sector an attractive alternative;
- Respondents are split with regards to what impact the revolutions in North Africa will have on the renewable energy sector, with 44% believing that it will have an impact and 41% believing that it will not. A small percentage of respondents remain uncertain;
- More than two-thirds of respondents (67%) say that emerging markets are very important in the context of M&A activity in the renewable energy space;
- The wind power and solar thermal niches are expected to see bustling M&A over next year, while biomass gains greater prominence;
- Respondents deem SPVs as an ever more attractive option for acquisitions, while interest in classical share deals wanes;
- Nearly three-quarters of the survey pool (72%) believe government support will be a very significant external driver of M&A activity in the renewable energy sector over the coming year;
- Nearly one-third of respondents (31%) believe feed-in tariffs constitute the most effective government policy for driving investment in the renewable energy sector.
"The renewables industry has established itself as a major pillar of global economic growth. Given the dynamic of events earlier this year, the commercial, political and social drive for fossil fuel independence has only further empowered investors, big and small. High transaction activity in this promising sector - both in developed and emerging markets - is poised to continue well into the future," concludes Dr. Marcus Felsner, Rödl & Partner Nuremberg.
For additional information:
M&A in Renewable Energy - Global Outlook
http://www.renewableenergymagazine.com/energias/renovables/index/pag/panorama/colleft//colright/panorama/tip/articulo/pagid/15827/botid/47/
Dostları ilə paylaş: |
