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Analysts at Climate Energy Finance, a Sydney-based research group, have recorded a “tsunami” of investment in renewable energy and transport electrification projects, calculating Chinese companies have committed $109.2bn in outbound FDI across 130 clean technology transactions since the start of 2023, according to corporate announcements and financial statements. Tim Buckley, CEF director, said China was not just exporting its cleantech manufacturing capacity surplus, but was increasingly exporting its technology, engineering, supply chain and financing capacities. Xuyang Dong, a CEF analyst, noted that the “dramatic” increase in overseas FDI coincided with plunging prices for many cleantech products in China, following years of scaled up domestic manufacturing. Prices for solar modules and batteries have halved this year. Read more

China’s world-leading clean energy companies are investing more abroad amid fierce domestic competition and trade tensions with rivals like the US, according to a report by Climate Energy Finance. “When Chinese firms build a production facility elsewhere, it brings its technology, expertise, capital, experience, as well as opportunities for expanding local labor markets and boosting other nations’ domestic energy transition,” said Xuyang Dong, an energy policy analyst and one of the report’s authors. Read more

Tim Buckley details CEF”s new report, ‘Green capital tsunami: China’s >$100 billion outbound cleantech investment since 2023 turbocharges global energy transition’. He notes if Australia is to enjoy the benefits of the billions China’s cleantech leaders are investing into solar, wind, batteries, EVs etc across the globe, speeding global decarbonisation, it must embrace and welcome partnership and maintain positive bilateral relations. Read more

Australia China Business Council chair David Olsson reflects on CEF’s new Green Capital Tsunami report, which tracks $100bn since 2023 in foreign investment by Chinese firms in sun, wind, EVs, batteries and other cleantech around the world, noting that Australia has untold potential to partner with China and attract investment from the world’s cleantech superpower – if we get the foreign investment rules right. Read more

[Republished from Bloomberg] China’s world-leading clean energy companies are investing more abroad amid fierce domestic competition and trade tensions with rivals like the US, according to a report by Climate Energy Finance. “When Chinese firms build a production facility elsewhere, it brings its technology, expertise, capital, experience, as well as opportunities for expanding local labor markets and boosting other nations’ domestic energy transition,” said Xuyang Dong, an energy policy analyst and one of the report’s authors. Read more

Tim told Alicia Barry on ABC TV’s Close of Business that Peter Dutton’s detail free nuclear power plan is costly, a waste of taxpayer’s money, and will delay Australia’s energy transition by 20 years. Read more

Two-thirds of all new solar and wind power projects are based in the country. But to wean industry off coal, Beijing needs to set up a real energy market. If things go Xi’s way over the coming years, that will no longer be the case. “Considering the significance of the scale of everything China does, reaching or exceeding almost every energy transition target it sets has far-reaching impacts for the climate and our global emissions reduction goals,” says Xuyang Dong, a China energy analyst at Sydney-based think-tank Climate Energy Finance. Spending levels across the sector will need to increase over the coming decades if China is to reach Xi’s dual carbon targets, says Dong, of CEF. That includes adding around 330GW of solar, 80GW of wind capacity and 4GW of nuclear to the grid every year until 2040 — numbers that are “significantly above the current run rate”.  Read more

[On Carbon Brief] The Biden administration has “proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns”, Reuters reports, adding that the move could in effect stop “nearly all Chinese cars from entering the US market”. The Hong Kong-based South China Morning Post (SCMP) publishes an opinion article by Xuyang Dong and Tim Buckley, analysts at thinktank Climate Energy Finance. They argue: “Viewing China’s overcapacity merely as a threat overlooks the massive potential it brings for an accelerated roll-out of clean energy in a world that must rapidly decarbonise to tackle the existential problem of climate change.” Read more

Surging small-scale renewables generation is helping China address growing power demand and slashing the role of coal in the country’s power mix, but Beijing’s widely followed monthly data reports omit output from the fast-growing sector. “China NBS’s generation data for wind and especially solar only capture some of the generation, whereas their capacity figures show the full picture,” said Xuyang Dong, China energy policy analyst at Sydney-based think tank Climate Energy Finance. Read more

China’s massive expansion of green technology can help the world decarbonise and decrease prices at a speed and scale required by the climate crisis. Read more

Tim Buckley accurately predicts no new details in costings or any other aspect of the LNP’s nuclear ‘policy’ were revealed in Peter Dutton’s speech to CEDA the day after this interview. The LNP nuclear thought bubble remains unviable – too costly, impractical and decades too late for Australian decabonisation. Read more

The director of Climate Energy Finance, Tim Buckley, said while Australia was right to court capital from the UAE for the green energy transition, it was also important to keep expectations in check. “I welcome collaboration with UAE, but we have to be realistic about how much money they might pour into Australia,” he said. “Particularly as the UAE is already emerging as a competitor for Australia in clean energy, because it has a big pool of capital for projects and an abundance of wind and solar, like us.” Mr Buckley said the truly “massive” commercial opportunities for Australia still lay in collaborating with major economies in the region like China and Japan to assist their decarbonisation progress. Read more