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Enegry Innovation Funds
blacksheep
post Posted: Oct 24 2017, 10:11 PM
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In Reply To: blacksheep's post @ Oct 24 2017, 08:41 PM

The valuation/sale is now being question by the NSW opposition/Labor.

QUOTE
The Vales Point coal-fired power station was one of a number of power assets privatised by the then Michael Baird-run NSW government in late 2015.

It was bought by Sunset Power International for $1 million, a price which then treasurer – and now Premier – Gladys Berejiklian said was above its value.

Ms Berejiklian at the time said the sale would save the state from ongoing losses and liabilities associated with the plant's scheduled shut down in 2021. Ahead of the sale the state wrote down its value by more than $370 million.

However, Sunset Power's latest financial reports have valued the plant – and its associated solar co-generation project – at $730 million, and pushed its operational life to at least 2029.

NSW Labor and analysts are now questioning why there had been such a disparity.

ERM's majority shareholder is Trevor St Baker, who is also majority shareholder in Sunset, and who founded the company which evolved into Delta Electricity, and spent more than two decades in planning and leadership roles in the NSW and Queensland governments' energy sector.

Sunset has also generated electricity sales 40 per cent higher than those achieved during its final year under state operation, going from $270 million in sales under the NSW government to $380 million under Sunset Power International.

The company said the rapid increase in wholesale prices had been a major component in the current valuation.

It added that there are a number of projects running into tens of millions of dollars that have lifted the operational capabilities of the plant, with the potential of Delta Electricity to spend around $200 million for maintenance and upgrading. This may also be a significant factor in the $730 million price point, which as yet has not been qualified as the net or gross valuation, and may be further upgraded.

NSW Labor energy spokesman Adam Searle told Fairfax Media the privatisation of the state's power assets should have never occurred.

"The privatisation of a monopoly and core service should not have been done," Mr Searle said.

He said the revaluation of Vales Point at more than 700 times above the original sale price demonstrated that privatisation of the power station and other assets was the wrong decision.

"On any superficial analysis, a $1 million price is woefully inadequate. This has raised significant questions," he said.

"[The NSW government] should be held to account, Premier Gladys Berejiklian doubly accountable as she was also treasurer [at the time of the sale]. Due to this, I have referred the matter to the auditor-general."

A NSW Treasury spokesman said the divestment of Vales Point made commercial sense at the time of the sale."The sale was undertaken in a period of excess supply in the National Electricity Market, record low demand for electricity, and unsustainably low wholesale prices, "the spokesman said.

"The divestment had merits and was appropriate at that point in time given the conditions of the market and financial position of Delta Electricity."

Independent think tank The Australia Institute also slammed the government over the sale, and put the blame on a lack of federal leadership on energy policy and accountability in state government.

"This shows starkly how the Australian taxpayer is losing from our politics on energy and environment," TAI research director Roderick Campbell said.

"An old, dirty power station that should be being closed down is suddenly worth a fortune, not because it has become cleaner or more productive, but because we don't have clear policy on electricity, gas, site rehabilitation or climate.

"That's before we consider the station being bought by ex-officials and insiders and the accountability problems that raises. You'd think in a state that has just seen the Obeid-Macdonnald coal farce, the Tinkler coal terminal episode and the Cobbora mine debacle, that accountability would be front of mind, but instead we're seeing ICAC weakened."

The NSW government has, in essence, sold off a power asset in order to pay more for its energy generation, and these costs have passed onto the consumer. It now appears the decision to sell off major assets in a broad stroke may have been premature.


http://www.theage.com.au/business/energy/v...024-gz6xno.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 24 2017, 09:13 PM
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Links to a few other Clean Energy Innovations Funds

CEFC
The Clean Energy Innovation Fund is a $200 million program supporting the growth of innovative clean energy technologies and businesses which are critical to Australia's clean energy transformation. The Innovation Fund targets technologies and businesses that have passed beyond the research and development stage, and which can benefit from early stage seed or growth capital to help them progress to the next stage of their development.

The Innovation Fund uses CEFC finance to invest in innovative clean energy companies and projects. It can provide debt and/or equity finance for innovative clean energy projects and businesses which support renewables, energy efficiency and low emissions technologies.

It is operated in consultation with ARENA, drawing on the complementary experience and expertise of the two organisations. Final investment approval is provided by the CEFC Board, which is responsible for all CEFC investment commitments made under the CEFC Act. The Innovation Fund does not make grants.
https://www.cefc.com.au/where-we-invest/innovation-fund.aspx

ARENA
In 2016, the Australian Government established the Clean Energy Innovation Fund. This fund draws on the combined skills and experience of the Clean Energy Finance Corporation (CEFC) and ARENA. The $200 million fund finances emerging Australian technologies and businesses that could accelerate Australia’s transition to a renewable energy economy.
https://arena.gov.au/about/how-we-are-funded/

NAIF

The NAIF offers up to $5 billion over five years in concessional finance to encourage and complement private sector investment in infrastructure that benefits northern Australia. This may include developments in airports, communications, energy, ports, rail and water.

The NAIF is a major long term initiative of the Australian Government’s White Paper on Developing Northern Australia, Our North, Our Future. The Office of Northern Australia in the Department of Industry, Innovation and Science has policy responsibility for the NAIF, along with an overall coordination role for northern Australia policy and the White Paper on Developing Northern Australia.

The NAIF’s strategic objectives include:
supporting the construction of economic infrastructure that provides a basis for the longer term expansion of industry and population in northern Australia
ensuring the Commonwealth is repaid in full and provides the minimum level of concessionality necessary to allow a particular project to proceed
operating in partnership with commercial lenders, not in competition
supporting economic infrastructure projects that provide future economic benefits
being credible in financial markets and meeting public sector accountability standards
catalysing further private sector investment in northern Australia

Bill Gates
Breakthrough Energy Coalition
The Breakthrough Energy Coalition is a partnership committed to broad investment in new energy technologies. We are investing our own capital and are working with over 20 countries around the world who have committed to significantly increase their investments in the basic research that leads to breakthrough innovations.
w.b-t.energy/coalition/who-we-are/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 24 2017, 08:41 PM
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Posts: 6,217
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In Reply To: blacksheep's post @ Jul 26 2017, 01:13 PM

Trevor St Baker and Brian Flannery are in the news again - after buying Vale Point for $1 mil from the NSW Govt a year ago, they now been value it @ $722m thanks to a bumper year in the electricty market. Nice work!!
Trevor St Baker and Brian Flannery value Vales Point power station $722m

Read more: http://www.afr.com/news/trevor-st-baker-an...0#ixzz4wQ9NoC7P




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 3 2017, 08:29 PM
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Posts: 6,217
Thanks: 2204


In Reply To: blacksheep's post @ Jul 26 2017, 01:13 PM

Goldman Sachs, Palisade pump billions into green energy
Aug 3 2017 at 6:25 PM
Updated 1 hr ago

QUOTE
US giant Goldman Sachs has joined the Australian renewable energy stampede and Sydney fund manager Palisade Investment Partners is launching a new clean energy fund in moves that may add gigawatts of wind and solar power worth billions of dollars to the grid.

The new Palisade Renewable Energy Fund and an existing fund that invests directly on behalf of the firm's clients - including the Clean Energy Finance Corporation - could have combined $1 billion of assets funding a gigawatt of wind and solar projects by 2020.

At the same time US investment giants Tennenbaum Capital Partners and Goldman Sachs are buying Conergy Australia with plans to dramatically expand the company's solar battery farm ambitions to fund up to a gigawatt across Australia. A gigawatt is 1000 megawatts, the size of a coal fired power station.

The deals show the rush to wind and solar power - and batteries - is gathering momentum even as Chief Scientist Alan Finkel's recommendation for a Clean Energy Target comes under hostile fire from Coalition conservatives led by former PMTony Abbott.


Read more: http://www.afr.com/news/goldman-sachs-pali...e#ixzz4oge9u3eY
http://palisadepartners.com.au/investment-...le-energy-fund/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 26 2017, 01:13 PM
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Posts: 6,217
Thanks: 2204


Some interesting projects being supported by this group

ERM Power founder Trevor St Baker has set up a new energy innovation fund - St Baker Energy Innovation Fund

Portfolio Companies, apart from ERM, taken from their webpage - http://stbenergy.com.au/#!/team

QUOTE
Tritium
Tritium is a globally renown developer and manufacturer of world leading electric vehicle fast chargers, power electronics and infrastructure management systems.
http://www.tritium.com.au/

Nth Degree Technologies
Nth Degree has developed innovative printing techniques which enables them to print light consisting of micro LEDs onto a flexible plastic substrate.

Kortek Industries
Kortek has developed breakthrough technology that help electricity customers monitor, manage and control their power consumption and electrical maintenance programs.

Phosfect Light Technology
Phosfect is a developer and fabricator of many innovative lighting products that use both traditional LEDs and Nth Light’s flexible printed lighting strips

Printed Energy
Printed Energy is developing technologies for printed batteries and printed photovoltaics which will solve the world’s energy storage issues

http://stbenergy.com.au/project/printed-energy/


Printed Energy - a $11 mil project - is owned equally by the St Baker Energy Innovation Fund and fellow "coal baron" Brian Flannery and have recently won $2 mil worth of funding from the Commonwealth Governments Cooperative Research Centre Projects initiative

https://www.business.gov.au/assistance/coop...-round-outcomes

Jun 27 2017 at 1:38 PM Updated Jun 27 2017 at 3:10 PM

Coal barons Trevor St Baker and Brian Flannery win funds for printed batteries venture

Read more: http://www.afr.com/technology/coal-barons-...w#ixzz4nu53urKv






--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 



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