Australia introduces world’s first solar roofing material

A small terrace house in an inner Sydney suburb is hosting what is believed to be the world’s first building integrated solar system that generates electricity as well as heat, combining thin-film solar PV and solar thermal technologies into a steel sheet roofing product produced by Australian steel manufacturer Bluescope, with assistance from the Australian Renewable Energy Agency.

By Giles Parkinson in Reneweconomy 13 June 2014

A small terrace house in the inner Sydney suburb of Glebe is hosting what is believed to be the world’s first building integrated solar system that generates electricity as well as heat.

The array combines thin-film solar PV and solar thermal technologies into a steel sheet roofing product produced by Australian steel manufacturer Bluescope, with assistance from the Australian Renewable Energy Agency.

The top layer of the roofing product (pictured) generates electricity in the same way as solar PV modules – although it uses thin film technology for less weight and thickness – while heat is trapped and distributed between the two layers for use in water and space heating.

The BIPVT installation is being hailed as a product that could one day be sold on Australian rooftops, although Bluescope is quick to point out that won’t be anytime soon. It has, however, said in the past that it feels it will be a cost competitive product for homes and businesses. But more work needs to be done in understanding supply chains and manufacturing costs before it is launched on the market.

Still, ARENA, which is facing closure from Tony Abbott’s ultra conservative government, was happy to promote the product, and the result of a $2.3 million grant for the $5 million project.

“Today we are witnessing an exciting new technology solution moving from the lab to be prototyped on everyday Australian rooftops for the first time,” ARENA CEO Ivor Frischknecht said in a statement.

“The old corrugated steel roof on this house in Glebe has been completely replaced with the first integrated photovoltaic (PV) thermal system in Australia, generating reliable renewable energy for the residents. A tile roof in the Illawarra region has also been replaced with the integrated PV system, demonstrating its versatility.

“In addition to PV panels, an innovative thermal duct system warms and cools air to supplement air conditioning in the homes. These first installations are an important step as the technology moves towards commercialisation and cost competitiveness with conventional rooftop PV.”

Frischknecht said the system had been designed to provide a low cost system that would reduce installation and energy costs, as well as peak demand pressures on the grid.

BlueScope is trying to reduce system costs through improved PV modules and roofing designs, reduced packaging and transport, improved building energy efficiency and easy, low-cost installation.

When the project was announced in 2012, Bluescope said the building integrated photovoltaic market was expected to increase 10-fold across the globe in coming years and become a key part of new construction, and even building retrofits.

Bluescope’s head of coating product development, Dr Troy Coyle, told Renew Economy in 2012 that that innovation in designs, and incorporating energy production was a key part of the future market. “That is where the roofing industry is heading,” she said.

“The market motivator is energy reduction, and the motivator for integration into rooftop design is a reduction of material costs and in building heating costs,” Coyle said. “That way we can have it all done in one.”

It could also be used in retrofits. A new roof deck above the existing roof surface can incorporate solar cells, and air then flows in the duct created under the new roof surface. This air flow will not only help cool the solar cells during warm weather, improving generation efficiency, but it will also help to heat and cool the building. Warm air generated in winter is used for heating, and as heat is radiated from the cells on summer nights, cool air is then supplied to the building, increasing overall energy efficiency.

Bluescope sees this technology being applicable in the residential, commercial and industrial markets.

The opening was attended by the Bob Baldwin, the deputy for Industry Minister Ian Macfarlane. “This a great display of Australian ingenuity and an example of industry leveraging government funding to make breakthroughs that may lead to advanced manufacturing and export opportunities,” he said in a statement. Next month, Baldwin’s party will introduce legislation to close ARENA, the agency that made this funding possible.

Source: www.reneweconomy.com.au

New Energy Council to focus on private equity investing in emerging markets

EMPEA, the global industry association for private capital in emerging markets, has launched the newly formed Energy Council, an advisory body comprised of and dedicated to fund managers, institutional investors and service providers active in energy-related private equity investments in emerging markets. Scott Mackin, Managing Partner and Co-President of Denham Capital, chairs the group and Andrew Affleck, of Armstrong Asset Management, joins the 12-person Council.

EMPEA Launches New Energy Council

11 June 2014, Washington, D.C. – EMPEA today announces the launch of its newly formed Energy Council, an advisory body comprised of and dedicated to fund managers, institutional investors and service providers active in energy-related private equity investments in emerging markets. Scott Mackin, Managing Partner and Co-President of Denham Capital, chairs the group.

The Council will provide a platform for its members to steer EMPEA’s energy-related research and programming and engage in best practice development.

Commenting on his appointment as the Chair, Scott Mackin said “I am pleased to help lead this initiative and look forward to collaborating with my fellow Council members to advance the industry’s understanding of the energy opportunities in emerging markets.”

EMPEA’s formation of the Council reflects the growing investor interest in this specific fund strategy. According to EMPEA’s 2014 Global Limited Partners Survey, 20% of respondents plan on expanding their commitments to emerging markets infrastructure (including energy-specific) funds in the next two years. The Council will therefore focus on sharing best practices, and communicating the unique attributes and opportunities inherent to energy investment, including sharpening the broader investment thesis around energy security as growth drivers.

Robert van Zwieten, EMPEA’s President and CEO, elaborated on the Council’s launch, “The Energy Council creates a platform to engage EMPEA’s growing energy-focused membership to collectively inform and elevate the level of discourse about energy investment opportunities in emerging markets.“

The Council will initially be comprised of eleven leading fund managers, institutional investors and service providers who are involved with energy-related private equity investments across the full spectrum of the sector, from conventional oil and gas to renewables, from generation to distribution. Council members will also contribute expertise gained from operating in diverse markets, from Latin America and Sub-Saharan Africa, to Southeast Asia, the Middle East and Central and Eastern Europe.

The Council held its inaugural meeting in Washington D.C. on 13 May 2014 alongside IFC’s 16th Annual Global Private Equity Conference in association with EMPEA. EMPEA will provide updates on Council developments as the group begins to execute on specific initiatives introduced during the first meeting.

About EMPEA:

EMPEA is the global industry association for private capital in emerging markets. We are an independent non-profit organization. As EMPEA celebrates our 10th anniversary in 2014, we have over 300 member firms, comprising institutional investors, fund managers and industry advisors, who together manage more than US$1 trillion of assets and have offices in more than 100 countries across the globe. Our members share EMPEA’s belief that private capital is a highly suited investment strategy in emerging markets, delivering attractive long-term investment returns and promoting the sustainable growth of companies and economies. We support our members through global authoritative intelligence conferences, networking, education and advocacy.

EMPEA Energy Council:

Scott Mackin, Denham Capital (Chair)

Andrew Affleck, Armstrong Asset Management

Reyaz Ahmad, IFC Asset Management Company

Cyrille Arnould, EIB GEEREF

Todd Cater, Global Environment Fund (GEF)

Lance Crist, International Finance Corporation (IFC)

Elaine Delaney, Quantum Capital Partners

Nigel Purse, Eaglestone

Somit Varma, Warburg Pincus

Dean White, Tetra Tech

Aygen Yayikoglu, Crescent Capital

Source: www.empea.org

Spotlight on environmental, social & governance risks plus opportunities

When the fifth Private Equity International Responsible Investment Forum takes place on 19 June 2014 in London, the event will put the spotlight on environmental, social and governance risks and opportunities in private equity investing, including a three-year initiative to increase levels of responsible investment around the world has been kicked off by a group of 11 major institutional investment institutions and a new Environmental, Social and Corporate Governance (ESG) Disclosure Framework for Private Equity.

Report from PRI:

The fifth Private Equity International Responsible Investment Forum takes place on 19 June 2014 in London. Building on the success of the previous events in London, New York and Amsterdam, the event will put the spotlight on environmental, social and governance risks and opportunities in private equity investing.

The PRI is once again co-hosting the event with Private Equity International. As global investor interest in ESG issues continues to gather pace, we will be bringing the world’s leading LPs, fund managers and specialists together to discuss where the next big opportunities lie in understanding and communicating the value that proper ESG management can deliver.

Preliminary speakers have been announced, including Jim Coulter of TPG as the keynote speaker.

Three-year project aims to boost responsible investment

A three-year initiative to increase levels of responsible investment around the world has been kicked off by a group of 11 major institutional investment institutions.

The institutions, under the banner of the Investment Leaders Group (ILG), have published a scoping document that outlines how the project needs to ‘shift the investment chain towards responsible investment’.

The report, which has been produced in conjunction with the University of Cambridge Programme for Sustainability Leadership, concludes that it is ‘absolutely necessary’ to reintroduce long-term considerations into investment decisions around the globe, and that so far efforts to do so ‘have been underwhelming’.

It adds: ‘Despite tremendous exertion and despite the thousands of signatories committed to the PRI, market dynamics remain pre-occupied by the short-term, and investment does little to answer the challenges of our time.’

The 11 institutions, who include Natixis Asset Management, Allianz Global Investors and Zurich Insurance Group, say they have a responsibility ‘to lead by example’ and that ‘a group that is small in number can climb higher and go further’ than larger alliances of investors.

Philippe Zaouati, chair of the ILG, said: ‘In spite of a widespread rhetorical commitment to responsible investment principles, market dynamics remain reoccupied by the short-term, and the majority of investment does little to answer the challenges of our time. The ILG will seek to change this, first of all by defining the value of responsible investment and then working out how to promote it.’ The ILG says publication of the scoping report, titled The Value of Responsible Investment, ‘is a first step towards that aim’.

Among other things, the report says investors should commission targeted research on the degree to which the risks generated by environmental ‘megatrends’ are limiting future returns and should start to ‘scale up’ capital allocation into technology, infrastructure and new businesses in the low carbon field.

ESG Disclosure Framework for Private Equity

Following a 16 month consultation and drafting process that involved a group of more than 40 limited partners (LP), 20 industry associations (including the PRI Initiative) and 10 leading general partners (GP), a new Environmental, Social and Corporate Governance (ESG) Disclosure Framework for Private Equity has been published on 25 March 2013.

The ESG Disclosure Framework has been developed to help GPs better understand why LPs want ESG-related information and to help rationalise the types of questions LPs are increasingly asking GPs on ESG.

This framework is aligned with the Initiative’s efforts to encourage informed and systematic dialogue between LPs and GPs about how ESG factors are considered in PE investment activities. Where feasible, the PRI has aligned its Reporting Framework with the ESG disclosure framework to support a consistent, pragmatic and cost-effective approach to discussing ESG strategy, policy and practices.

The document outlines eight objectives common to many LPs who want more structured ESG disclosures within their private equity investments. The first five objectives relate to the fund due diligence process, and the next three relate to disclosures during the life of the fund. Guidance is also provided on the disclosure of information around unexpected events that might pose reputation risks to an LP, GP or portfolio company.

Source: www.unpri.org

Projects Proposals Invited for Clean Energy Financing Competition

CTI PFAN is now accepting proposals from the Asian Region for participating projects in the Business Plan Competition for Clean Energy Financing (AFCEF-5) as it seeks to nurture entrepreneurs, start-up and existing companies, project teams and consortia with environmentally beneficial business proposals with the aim of linking them with investment and finance.  Earlier this year, a panel of independent judges selected the VinaForest biomass project in Vietnam, as the winner of the CTI PFAN Asia Clean Energy Financing Awards.

CTI PFan – request for projects

CTI PFAN is now accepting proposals from Asian Region for participating in the AFCEF-5 Business Plan Competition

Asia Forum for Clean Energy Financing (AFCEF-5) seeks to nurture entrepreneurs, start-up and existing companies, project teams and consortia with environmentally beneficial business proposals with the aim of linking them with investment and finance and making them happen.

Applications for AFCEF-5 Business Plan Competition must now be received by midnight (Japan Time) on Thursday, 24th July 2014. Find out more on the criteria, application process, and timeline in the adjacent document titled AECEF-5_Competition_Guidelines.

Once you are short-listed for the AFCEF-5 Business Plan Competition, you will receive coaching from professional experts, who will help you to create a financially, socially and environmentally viable business plan. With this enhanced business plan, which should be well received and ready for action, you can stand before investors with full confidence.

After the coaching process, the Finalists selected from the short-listed projects will be invited to the Financing Forum in Singapore to be held on 6th February 2015, where there is an opportunity to present the business plan to invited investors to source the financing that is required. In addition, a panel of judges, made up of investors, industry specialists and business executives who have a keen interest in enabling cleaner and greener projects will select the best projects for award of the CTI PFAN Asia Clean Energy Financing Awards. Through this forum, it is our aim to facilitate a marriage between entrepreneurs, their ideas and projects and investment. So take your ideas to the next level and grab this opportunity to see your business proposals transform into business reality.

AFCEF-5 is being sponsored by the Climate Technology Initiative (CTI), the CTI Private Financing Advisory Network (CTI PFAN), the U.S. Agency for International Development (USAID), USAID Private Financing Advisory Network-Asia program (PFAN-Asia) and the Energy for All Program (E4A) of the Asian Development Bank (ADB) with support from the International Center for Environmental Technology Transfer (ICETT).

It will be organized in cooperation with Dawn Consulting, CleanEnergy Solutions International (CSI), PPL International, the Sustainable Energy Association of Singapore (SEAS) and Impact Investment Exchange (IIX).

Singapore (February 28, 2014) – Ten clean energy projects that could reduce greenhouse gas emissions across Asia by over 400,000 tonnes CO2 e p.a., were presented to investors in Singapore at the CTI PFAN ASIA FORUM FOR CLEAN ENERGY FINANCING (AFCEF-4).

More than 100 financiers, clean energy experts and representatives of financial institutions from across Asia and overseas were in attendance. The Forum was organized by Climate Technology Initiative’s Private Financing Advisory Network (CTI PFAN), a global multilateral initiative dedicated to connecting clean energy businesses with financing and “bridging the gap” between clean energy projects and investors.

“CTI PFAN is a creative approach to facilitating access to private capital markets to finance and implement clean energy and other environmentally sound projects, ” said CTI Manager, Mr. Elmer Holt.

CTI PFAN screens business plans, selects the most economically viable and environmentally beneficial projects, and provides multiple rounds of coaching and guidance before projects are presented to investors. CTI PFAN is now working on more than 221 clean energy projects across Asia, Africa, Latin America and CIS & Central Asia. Globally, CTI PFAN has raised over USD 541 million of investment for 44 clean energy projects and contributed to the establishment of annual greenhouse gas (GHG) mitigation of 2 million tonnes CO2 e. In Asia, USD 350 million has been raised for 27 projects with a potential reduction of GHG emissions by over 915,000 tonnes CO2 e p.a.

The project portfolio showcased at the Forum features a total aggregate investment volume in excess of USD 164 million, spanning technologies such as biomass, hydro, solar, wind, biogas and energy access initiatives developed by entrepreneurs and companies from India, Vietnam, Philippines, Nepal and Thailand.

From the 10 showcased projects, a panel of independent judges selected D&G Vietnam Co., Ltd (VinaForest), biomass project in Vietnum, as the winner of the CTI PFAN Asia Clean Energy Financing Awards. As runners-up, CleanTech Global Renewables Inc., mini-hydro project in the Philippines, and Invictus Solar Power Pvt Ltd, solar project in India, were selected. For investors, AFCEF-4 was a compelling opportunity to access a select group of investment-ready clean energy projects with attractive potential returns, and verified environmental and development benefits.

Source: www.cti-pfan.net