Press Releases

India cancels 13.7GW of coal fired power proposals in May. Solar now cheaper than coal: IEEFA  

The cancellation of 13.7GW of Indian coal power projects in May 2017, coupled with a record low solar tariff of 2.44 Rupees/Unit (0.038USD/kWh), are the strongest indications yet that an energy transformation in India is gaining rapid momentum with the endorsement of global capital markets.

HoldfastIndia cancels 13.7GW of coal fired power proposals in May. Solar now cheaper than coal: IEEFA  
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Indian solar power tariff hits new low of Rs 2.62: IEEFA

India overnight finalised a new SECI auction at the Bhadla solar park in Rajasthan with the award of a power tariff at a record low Rs2.62/kWh (US$40/MWh), 12% below the previous record low Rewa solar tariff awarded only just three months ago. This is a very significant milestone in India’s commitment to energy security and increased diversity of mostly domestic sourcing of new generation capacity.

HoldfastIndian solar power tariff hits new low of Rs 2.62: IEEFA
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Over 200 Global investors (managing more than $15 Trillion in assets) urge G7 to stand by Paris Agreement and drive its swift implementation

Long-term institutional investors representing more than USD 15 Trillion in assets have written to G7 heads of state urging governments to stand by their commitments to the Paris Agreement at their upcoming Summit in Taormina, Italy on May 25-6.

HoldfastOver 200 Global investors (managing more than $15 Trillion in assets) urge G7 to stand by Paris Agreement and drive its swift implementation
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Clergy call on Commbank to rule out Adani: Australian Religious Response to Climate Change

Monday, May 8, 2017: Clergy are among a faith contingent joining a peaceful protest today outside the Commonwealth Bank’s headquarters. People from Presbyterian, Catholic, Buddhist and Uniting Church backgrounds are first celebrating outside of Westpac’s headquarters, their recent decision to rule out finance for Adani’s coalmine in the Galilee Basin. They are then marching over to Darling Harbour to challenge CommBank to do the same. 

HoldfastClergy call on Commbank to rule out Adani: Australian Religious Response to Climate Change
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Northern Territory gas extraction- unviable, uneconomic and purely political in nature: IEEFA

2nd May, 2017: The Institute for Energy Economics and Financial Analysis (IEEFA) has lodged a submission with the Northern Territory (NT), a Territory in Northern Australia, to the ‘Fracking Inquiry’ that shows the persistent international glut in cheap gas, coupled with the high price of extracting NT shale gas, will render the shale gas industry ultimately unviable in the Territory.

HoldfastNorthern Territory gas extraction- unviable, uneconomic and purely political in nature: IEEFA
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Australian regulators need to step up as world’s biggest investors act on climate: AODP

LGS and First State Super top index. Macquarie Bank rated worst outside Japan and US

Wednesday 26 April, 2017: The world’s biggest investors are responding to the global commitment to tackle climate change and are rapidly scaling up action to protect their portfolios, reveals the annual benchmark report on the industry from the Asset Owners Disclosure Project.

HoldfastAustralian regulators need to step up as world’s biggest investors act on climate: AODP
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Japan’s thermal power to drop 40% by 2030: new IEEFA report

Tuesday March 21, 2017: Contrary to predictions from Japan’s Ministry of Economy, Trade and Industry (METI) lower electricity demand and increased renewable capacity will see Japanese thermal power generation decline to 40% below 2015 levels by 2030, according to a new report published today by the Institute for Energy Economics and Financial Analysis (IEEFA).

HoldfastJapan’s thermal power to drop 40% by 2030: new IEEFA report
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Cricket Captains Ian & Greg Chappell and other prominent Australians tell Adani: “We want solar but not your coal mine.” AMCS

Thursday, 16 March, Ahmedabad/Sydney: Amid mounting scientific and public evidence of the impacts the Carmichael project will have, a high profile delegation of Australian citizens today delivered an open letter to Gautam Adani, calling on him to drop his controversial Australian coal project and to invest in solar instead. The community delegation is in India at the same time as a group of Australian politicians visit Adani to promote the project. Letter and names here.

HoldfastCricket Captains Ian & Greg Chappell and other prominent Australians tell Adani: “We want solar but not your coal mine.” AMCS
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The people of Port Augusta wait till June for decision on solar thermal as South Australia announces $150 million renewable fund, but disappoints with gas handout

Tuesday, March 14: Repower Port Augusta has welcomed the South Australian Government’s new $150 million dollar next generation renewable energy fund but is disappointed the plan includes even more multi-million dollar taxpayer funded handouts for gas extraction.

The State Government is expected to announce its power purchase for a new generator to be built in South Australia by June which is critical for solar thermal to be built in Port Augusta.

“All eyes will now be on the South Australian Government’s power purchase which is due in June which will be the key to unlocking a large solar thermal plant with storage in Port Augusta, the South Australian Government just must get this done, and they know that,” said Dan Spencer campaigner with Repower Port Augusta.

HoldfastThe people of Port Augusta wait till June for decision on solar thermal as South Australia announces $150 million renewable fund, but disappoints with gas handout
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