Media

The flaws in the Adani Godda power plant agreement have been widely documented in international media as well. Tim Buckley, a leading energy expert, told The Washington Post in 2022 that Bangladesh would pay over five times the country’s average wholesale electricity price for power from Adani’s plant. Even if coal prices revert to pre-Ukraine war levels, Bangladesh would still be paying 33 percent more for Adani’s electricity compared to its domestic coal-based power plants. Buckley described this contract as “an absolute gouge” and questioned how any reasonable person could have signed such a detrimental deal on behalf of Bangladesh. Read more

Energy analysts, including Tim Buckley, say Origin needs to reveal how it will remain a major generator of power if it is to meet a customer book totalling about 4.5 million people. Read more

As Tim Buckley and AM Jonson write the record high of low-cost wind and solar in the grid comes as we are still waiting for the Coalition’s budget projections on its plan to nationalise the eye-watering cost of seven nuclear plants. Read more

[Republished on Chinese media WeChat official account – Radio2000华语] Tim Buckley, director of Climate Energy Finance, emphasized the potential for cooperation between China and Australia in the fields of green energy transformation and manufacturing in an interview with reporters. As a major iron ore exporter, Australia can export green iron to China by using its own renewable energy for value-added processing, helping its steel industry decarbonize. In addition, there are huge opportunities for cooperation between the two sides in solar energy technology and polysilicon production. Overall, Australia can expand its competitive advantages in clean energy technology, key minerals and green manufacturing through cooperation with China, and achieve mutual benefit and win-win results. Read more

Coal generated less than 50 percent of Australia’s electricity in the last week of August, dropping to a record low as renewable production surged, data showed Wednesday. Australia remains one of the world’s leading exporters of coal and gas and has relied heavily on fossil fuels to keep the lights on. But climate finance expert Tim Buckley said August’s record figures were caused by wild weather and a warm start to the spring, which had reduced demand on the grid by up to 20 percent. Winds exceeding 150 kilometres (93.2 miles) per hour in the southeast of the country had also almost doubled the usual wind generation. “It’s a historically low coal share for Australia in the national energy market, but it’s also a sign of where we are going,” Buckley told AFP. “It will only be a few years from now that coal is contributing virtually nothing,” he added. Read more

[On MENAFN] In a historic development for Australia’s energy sector, coal-fired power generation fell to an unprecedented low during the last week of August. Tim Buckley, a climate finance expert, highlighted that while this record low is partly a result of temporary weather conditions, it also indicates a broader trend towards diminishing reliance on coal. Buckley predicts that it will only be a few years before coal’s contribution to the national energy market approaches zero. Read more

[On One Media – a Chinese social media platform on WeChat] On September 3, 2024, the Australia Financial Review Asia Summit was held at the Sofitel Melbourne. The theme of the summit was “Securing Australia’s Asian Destiny”, aiming to cope with the increasingly complex strategic environment and economic opportunities in the Asia-Pacific region. The summit brought together political and business leaders from Asia and Australia, as well as scholars, strategists, entrepreneurs and technical experts to discuss the far-reaching impact of geopolitical competition, economic growth, and technological and social changes in the Asia-Pacific region on Australia’s future. Tim Buckley, director of Climate Energy Finance, emphasized the potential for cooperation between China and Australia in the fields of green energy transformation and manufacturing in an interview with reporters. As a major iron ore exporter, Australia can export green iron to China by using its own renewable energy for value-added processing, helping its steel industry decarbonize. In addition, there are huge opportunities for cooperation between the two sides in solar energy technology and polysilicon production. Overall, Australia can expand its competitive advantages in clean energy technology, key minerals and green manufacturing through cooperation with China, and achieve mutual benefit and win-win results. Read more

As China’s construction slump and steel glut bite, the chairman of government-owned China Baowu Group, the world’s largest steelmaker, has warned China’s steel sector will enter a “severe winter” more challenging than even the major downturns experienced during the GFC of 2008. This spells trouble for iron ore. Australia is the world’s largest iron ore exporter, and it is our number one commodity export, with over 80% going to China. The benchmark iron ore price has fallen below $US100/tonne, while prices for metallurgical coal used in steelmaking have dropped by a third to US$202/t in just 2 months. Read more

You don’t need to believe in anthropogenic climate change to understand that our major coal export customers – China, Japan, and Korea – are rapidly transitioning to renewable energy, because they’d rather produce cheap power in their backyards than buy it from us. I remember being in a room with Tim Buckley, from Climate Energy Finance, who was telling Hunter community members that in 2023 alone, China built six times as much in solar energy generation capacity than Australia has ever built in history – including coal, gas, hydro, solar, and wind. Read more

Woodside disregards historic investor rejection of its climate plan; the energy giant’s US$1.2bn natural gas takeover negates its US$2.35bn carbon capture buy “more than 21 times over”. Woodside paid a “massive” 75% control premium for Tellurian versus the prevailing 2024 share price, Climate Energy Finance founder Tim Buckley said. Leadership is disconnected from climate science forbidding new greenfield fossil fuel project developments or infrastructure, he said. Read more

Tim Buckley at the AFR Asia Summit alongside Foreign Minister Wong and former PM Kevin Rudd said that Australia should embrace the decarbonisation opportunity that would come from a more open stance towards Chinese investment. “It’s critical Australia actually double down and work and enhance and partner with China because if not, they will go elsewhere,” he said. “At the moment, I don’t think that message is coming through loud and clear. We don’t know what the rules, or China doesn’t know what the rules are, for when they do invest here.” Read more

Distributed internationally via AFP – Australia remains one of the world’s leading exporters of coal and gas and has relied heavily on fossil fuels to keep the lights on. But climate finance expert Tim Buckley said August’s record figures were caused by wild weather and a warm start to the spring, which had reduced demand on the grid by up to 20 percent. “It’s a historically low coal share for Australia in the national energy market, but it’s also a sign of where we are going,” Buckley told AFP. “It will only be a few years from now that coal is contributing virtually nothing,” he added. Read more