Aboitiz receives another award for financing for its Tiwi and Makban geothermal plant


Aboitiz receives award

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AP Renewables Inc. Climate Bond Award recognizes Asia-Pacific project finance, with ADB and CNBC citing the first Climate Bond, geothermal refinancing in local currency, and CGIF-backed credit enhancement for emerging markets.

 

Key Points

An award for APRI's certified Climate Bond, highlighting ADB-backed financing and geothermal assets across Asia-Pacific.

✅ First Climate Bond for a single project in an emerging market

✅ ADB credit enhancement and CGIF risk participation

✅ Refinanced Tiwi and MakBan geothermal assets via local currency

 

The Asian Development Bank (ADB) and CNBC report having given the Best Project For Corporate Finance Transaction award to a the renewable energy arm of Aboitiz Power, AP Renewables Inc. (APRI), for its innovative and impactful solutions to key development challenges.

In March 2016, APRI issued a local currency bond equivalent to $225 million to refinance sponsor equity in Tiwi and MakBan. ADB said it provided a partial credit enhancement for the bond as well as a direct loan of $37.7 million, a model also seen in EIB long-term financing for Indian solar projects.

The bond issuance was the first Climate Bond—certified by the Climate Bond Initiative—in Asia and the Pacific and the first ever Climate Bond for a single project in an emerging market.

“The project reflects APRI’s commitment to renewable energy, as outlined in the IRENA report on decarbonising energy in the region,” ADB said in a statement posted on its website.

The project also received the 2016 Bond Deal of the Year by the Project Finance International magazine of Thomson Reuters, Asia Pacific Bond Deal of the Year from IJGlobal and the Best Renewable Deal of the Year by Alpha Southeast Asia, reflecting momentum alongside large-scale energy projects in New York reported elsewhere.

ADB’s credit enhancement was risk-participated by the Credit Guarantee Investment Facility (CGIF), a multilateral facility established by Asean + 3 governments and ADB to develop bond markets in the region.

APRI is a subsidiary of AboitizPower, one of Philippines’ biggest geothermal energy producers, and the IRENA study on the Philippines' electricity crisis provides broader context as it owns and operates the Tiwi and Makiling Banahaw (MakBan) geothermal facilities, the seventh and fourth largest geothermal power stations in the world, respectively.

“The awards exemplify the ever-growing importance of the private sector in implementing development work in the region,” ADB’s Private Sector Operations Department Director General Michael Barrow said.

“Our partners in the private sector provide unique solutions to development challenges — from financing to technical expertise — and today’s winners are perfect examples of that,” he added.

The awarding ceremony took place in Yokohama, Japan during an event co-hosted by CNBC and ADB at the 50th Annual Meeting of ADB’s Board of Governors.

The awards focus on highly developmental transactions and underline the important work ADB clients undertake in developing countries in Asia and the Pacific.

 

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UK Electric cars will cost more if Sunak fails to strike Brexit deal

UK-EU EV Tariffs 2024 threaten a 10% levy under Brexit rules of origin, raising electric vehicle prices, straining battery supply chains, and risking a price war for manufacturers, consumers, and climate targets across automotive market.

 

Key Points

Tariffs from Brexit rules of origin imposing 10% duties on EVs, raising UK prices amid battery and supply chain gaps.

✅ 10% tariffs if rules of origin thresholds are unmet

✅ Price hikes on UK EVs, led by Tesla Model Y

✅ Battery supply gaps strain UK and EU manufacturers

 

Electric cars will cost British motorists an extra £6,000 if Rishi Sunak fails to strike a post-Brexit deal with the EU on tariffs, industry bosses have told The Independent.

UK manufacturers warned of a “devastating price war” on consumers, echoing UK concern over higher EV prices across the market – threatening both the electric vehicle (EV) market and the UK’s climate change commitments – if tariffs are enforced in January 2024.

In the latest major Brexit row, the Sunak government is pushing the European Commission to agree to delay the costly new rules, even as the UK readies for rising EV adoption across the economy, set to come in at the start of next year as part of Boris Johnson’s Brexit trade deal.

But Brussels has shown no sign it is willing to budge – even as Washington has announced a 100% tariff on Chinese-made EVs this year – leaving business leaders in despair about the impact of 10 per cent tariffs on exports on Britain’s car industry.

The tariffs would increase the price of a new Tesla Model Y – the UK’s most popular electric vehicle – by £6,000 or more, according to a new report by the Independent Commission on UK-EU Relations.

“For the sake of our economy and our planet, the government has a responsibility to get round the table with the EU, fix this and fix the raft of other issues with the Brexit deal,” said commission director Mike Buckley.

The new rules of origin agreed in the Brexit trade and cooperation agreement (TCA) require 45 per cent of an electric car’s value, as the age of electric cars accelerates, to originate in the UK or EU to qualify for trade without tariffs.

The British auto industry has warned the 2024 rules pose an “existential threat” to sales because of the lack of domestic batteries to meet the rules, even as EV adoption within the decade is widely expected to surge – pleading for a delay until 2027.

The VDA – the lobby group for Germany’s car industry – has also called for an “urgent” move to delay, warning that the rules create a “significant competitive disadvantage” for European carmarkers in relation to China, where tariffs on Chinese EVs are reshaping global trade, and other Asian competitors.

The new report by the Independent Commission on UK-EU Relations – backed by the manufacturers’ body Make UK and the British Chamber of Commerce – warns that the January tariffs will immediately push up costs and hit electric vehicle sales, despite UK EV inquiries surging during the fuel supply crisis in recent years.

 

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Whooping cranes steer clear of wind turbines when selecting stopover sites

Whooping crane migration near wind turbines shows strong avoidance of stopover habitat within 5 km, reshaping Great Plains siting decisions, reducing collision risk, and altering routes across croplands, grasslands, and wetlands.

 

Key Points

It examines cranes avoiding stopovers within 5 km of turbines, reshaping habitat use and routing across the Great Plains.

✅ Cranes 20x likelier to rest >5 km from turbines.

✅ About 5% of high-quality stopover habitat is impacted.

✅ Findings guide wind farm siting across Great Plains wetlands.

 

As gatherings to observe whooping cranes join the ranks of online-only events this year, a new study offers insight into how the endangered bird is faring on a landscape increasingly dotted with wind turbines across regions. The paper, published this week in Ecological Applications, reports that whooping cranes migrating through the U.S. Great Plains avoid “rest stop” sites that are within 5 km of wind-energy infrastructure.

Avoidance of wind turbines can decrease collision mortality for birds, but can also make it more difficult and time-consuming for migrating flocks to find safe and suitable rest and refueling locations. The study’s insights into migratory behavior could improve future siting decisions as wind energy infrastructure continues to expand, despite pandemic-related investment risks for developers.

“In the past, federal agencies had thought of impacts related to wind energy primarily associated with collision risks,” said Aaron Pearse, the paper’s first author and a research wildlife biologist for the U.S. Geological Survey’s Northern Prairie Wildlife Research Center in Jamestown, N.D. “I think this research changes that paradigm to a greater focus on potential impacts to important migration habitats.”

Some policymakers have also rejected false health claims about wind turbines and cancer in public debate, underscoring the need for evidence-based decisions.

The study tracked whooping cranes migrating across the Great Plains, a region that encompasses a mosaic of croplands, grasslands and wetlands. The region has seen a rapid proliferation of wind energy infrastructure in recent years: in 2010, there were 2,215 wind towers within the whooping crane migration corridor that the study focused on; by 2016, when the study ended, there were 7,622 wind towers within the same area.

Pearse and his colleagues found that whooping cranes migrating across the study area in 2010 and 2016 were 20 times more likely to select “rest stop” locations at least 5 km away from wind turbines than those closer to turbines, a pattern with implications for developers as solar incentive changes reshape wind market dynamics according to industry analyses.

The authors estimated that 5% of high-quality stopover habitat in the study area was affected by presence of wind towers. Siting wind infrastructure outside of whooping cranes’ migration corridor would reduce the risk of further habitat loss not only for whooping cranes, but also for millions of other birds that use the same land for breeding, migration, and wintering habitat, and real-world siting controversies, such as an Alberta wind farm cancellation, illustrate how local factors shape outcomes for wildlife.

 

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Canada's race to net-zero and the role of renewable energy

Canada Net-Zero demands renewable energy deployment, leveraging hydropower to integrate wind, solar, and storage, scaling electrification, cutting oil and gas emissions, aligning policy, carbon pricing, and investment to deliver a clean grid by 2050.

 

Key Points

A national goal to cut emissions 40-45% by 2030 and reach economy-wide net-zero by 2050 through clean electrification.

✅ Hydropower balances intermittent wind and solar.

✅ Policy, carbon pricing, and investment accelerate deployment.

✅ Clean energy jobs surge as oil and gas decline.

 

As the UN climate talks draw near, Canada has enormous work left to do to reach its goals of reducing greenhouse gas emissions. Collectively, Canadians have to cut overall greenhouse-gas emissions by 40 to 45 per cent below 2005 levels by 2030 and achieve net-zero by 2050 across the economy.

And whereas countries like the U.K. have dramatically slashed their emissions levels, Canada's one of the few nations where emissions keep skyrocketing, and where fossil fuel extraction keeps increasing every year despite our climate targets.

Changes in national emissions and fossil fuel extraction since 1950, for G7 nations plus Norway and Australia
Graphic by Barry Saxifrage in Sep.15 article,Canada's climate solution? Keep increasing fossil fuels extraction.
Given its track record, and the IEA's finding that Canada will need more electricity to hit net-zero, how will Canada achieve its goal of getting to net-zero by 2050?

As Trudeau seeks to cement his political legacy, these are the MPs he’s considering for cabinet
By Andrew Perez | Opinion | October 25th 2021
In the upcoming online Conversations event on Thursday, 11 a.m. PT/2 p.m. ET, host and Canada's National Observer deputy managing editor David McKie will discuss how cleaning up Canada's electricity and renewable energy can put the country on track to hitting its targets with Clean Energy Canada executive director Merran Smith, Canadian Institute for Climate Choices senior economist Dale Beugin, and WaterPower Canada CEO Anne-Raphaëlle Audouin.

Getting to net-zero grid through renewable electricity
“If we wanted to be powered by 100 per cent renewable electricity, including proposals for a fully renewable electricity grid by 2030, Canada is one of the countries where this is actually possible,” said Audouin.

She says for that to happen, it would take a slate of clean energy providers working together to fill the gaps, rather than competing for market dominance.

“You couldn't power Canada just with wind and solar, even with batteries. That being said, renewables happen to work very well together ” she said. “Hydropower already makes up more than 90 per cent of Canada’s renewable generation and 60 per cent of the country’s total electricity needs are currently met thanks to this flexible, dispatchable, abundant source of baseload renewable electricity. It isn’t a stretch of the imagination to envision hydropower and wind and solar working increasingly together to clean up our grid. In fact, hydropower already backs up and allows intermittent renewable energies like wind and solar onto the grid.”

She noted that while hydropower alone won't be the solution, its long history and indisputable suite of attributes — hydroelectricity has been in Canada since the 1890s — will make it a key part of the clean energy transition required to replace coal, natural gas and oil, which still make up around 20 per cent of Canada's power sources.

Canada's vast access to water, wind, biomass, solar, geothermal, and ocean energy, and a federal government that has committed to climate goals, makes us well-positioned to lead the way to a net-zero future and eventually the electrification of our economy. So, what's holding the country back?

The new reality for renewables
According to Clean Energy Canada, it's possible to grow the clean energy sector, but only if businesses invest massively in renewables and governments give guidance and oversight informed by the implications of decarbonizing Canada's electricity grid research.

A recent modelling study from Clean Energy Canada and Navius Research exploring the energy picture here in Canada over the next decade shows our clean energy sector is expected to grow by about 50 per cent by 2030 to around 640,000 people. Already, the clean energy industry provides 430,500 jobs — more than the entire real estate sector — and that growth is expected to accelerate as our dependence on oil and gas decreases. In fact, clean energy jobs in Alberta are predicted to jump 164 per cent over the next decade.

Currently, provinces with the most hydropower generation are also the ones with the lowest electricity rates, reflecting that electricity has been a nationwide climate success in Canada. Wind and solar are now on par, or even more competitive, than natural gas, and that could have big implications for other major sectors of the economy. Grocery giant Loblaws (which owns brands including President's Choice, Joe Fresh, and Asian grocery chain T&T) deployed its fleet of fully electric delivery trucks in recent years, and Hydro-Québec just signed a $20-billion agreement to help power and decarbonize the state of New York over the next 25 years.

In The New Reality, Smith writes that many carbon-intensive industries, such as the mining sector, could also potentially benefit from the increased demand for certain natural resources — like lithium and nickel — as the world switches to electric vehicles and clean power.

“Oil and gas may have dominated Canada’s energy past, but it’s Canada’s clean energy sector that will define its new reality,” Smith emphasized.

Despite its vast potential to be one of the world's clean energy leaders, Canada has a long way to getting on the path to net zero. Even though the country is home to some of the world's leading cleantech companies, such as B.C.-based clean hydrogen fuel cell providers Ballard Power and Loop Energy and Nova Scotia-based carbon utilization company CarbonCure, the country continues to expand fossil fuel extraction to the point that emissions are projected to jump to around 1,500 MtCO2 worth by 2030.

 

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Canada's largest electricity battery storage project coming to southwestern Ontario

Oneida Energy Storage Project, a 250 MW lithium-ion battery in Haldimand County, enhances Ontario's clean energy capacity, grid reliability, and peak demand management, developed with Six Nations partners and private-public collaboration.

 

Key Points

A 250 MW lithium-ion battery in Ontario storing power to stabilize the grid and deliver clean electricity.

✅ 250 MW lithium-ion grid-scale battery in Haldimand County

✅ Developed with Six Nations, Northland Power, NRStor, Aecon

✅ Enhances grid reliability, peak shaving, emissions reduction

 

The Ontario government announced it is working to build Canada's largest electricity battery storage project in Haldimand County, part of Ontario's push into energy storage amid a looming supply crunch. Ontario Premier Doug Ford and Deputy Prime Minister Chrystia Freeland made the announcement in Ohsweken, Ont.

The 250-megawatt Oneida Energy storage project is being developed in partnership with the Six Nations of the Grand River Development Corporation, Northland Power, NRStor and Aecon Group.

The Ontario government announced on Friday it is working to build Canada's largest electricity battery storage project in Haldimand County.

On Friday, Ontario Premier Doug Ford and Deputy Prime Minister Chrystia Freeland made the announcement in Ohsweken, Ont.

The 250-megawatt Oneida Energy storage project is being developed in partnership with the Six Nations of the Grand River Development Corporation, Northland Power, NRStor and Aecon Group.

“It will more than double the province's energy storage resources and provide enough electricity to power a city approximately the size of Oshawa,” said Ford, noting Ontario's growing battery storage expansion across the grid.

“We need to continue to find ways to keep our energy clean and green,” said Ford, including initiatives like the Hydrogen Innovation Fund to spur innovation.

The federal government said they are providing a further $50 million in funding, coinciding with national investments such as the B.C. battery plant to scale capacity.

The premier said the project will begin operating in 2025 and will more than double the amount of clean energy storage.

Officials with the Six Nations said they have invested in the project that will provide economic returns and 97 per cent of the construction workforce to build it.

"This project is an example of what is possible when private and public companies, multiple levels of government, and their agencies work alongside a progressive Indigenous partner in pursuit of innovative solutions,” said Matt Jamieson, President and CEO of Six nations of the Grand River Development Corporation. “As with all our development efforts, we have studied the project to ensure it aligns with our community values, we are confident the outcome will create ratepayer savings, and move us closer to a Net Zero future for our coming generations."

According to the province, it has directed the independent electricity system operator to enter into a 20-year contract for this project with a goal to grow the province's clean energy supply, alongside transmission efforts like the Lake Erie Connector to enhance reliability.

The province said the Oneida Energy storage project is expected to reduce emissions by between 2.2 to 4.1 million tonnes, the equivalent to taking up to 40,000 cars off the road.

The project will use large scale lithium batteries, with regional supply bolstered by the Niagara battery plant, to store surplus energy from the power grid then feed it back into the system when it’s needed.

“Power that is generated and it can’t be utilized, this system will help harness that, store it for a period of time, and it will maximize value for the rate payer,” said Jamieson.

Jamieson said he is proud that the Six Nations is a founding developer in the project.

The facility will not actually be in Six Nations. It will be near the community of Jarvis in Haldimand County.
For Six Nationals elected Chief Mark Hill, it’s a major win as Ontario's EV sector grows with the Oakville EV deal and related projects.

“We want to continue to be a driver. We want to show Canada that we can also be a part of green solution,” Hill said.

But Hill admitted the Six Nations Community remains deeply divided over a number of longstanding issues.

“We still have a lot of internal affairs within our own community that we have to deal with. I think it’s really time once and for all to come together and figure this out,” said Hill.

The traditional leadership said they were left out of the decision making.

“No voice of ours was even heard today in that building,” said Deyohowe:to, the chief of the Cayuga Snipe Clan.

According to the Cayuga Snipe Clan, consultation with the Haudenasauene council is required for this type of development but they said it didn't happen.

“We’ve never heard of this before. No one came to the community and said this was going to happen and for the community we are not going to let that happen,” said Deyohowe:to.

The Six Nations Development Corporation said it did reach out to the Haudenosaunee chiefs and sent multiple letters in 2021 inviting them to participate.

 

 

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How much does it cost to charge an electric vehicle? Here's what you can expect.

Electric Vehicle Charging Costs and Times explain kWh usage, electricity rates, Level 2 vs DC fast charging, per-mile expense, and tax credits, with examples by region and battery size to estimate home and public charging.

 

Key Points

They measure EV charging price and duration based on kWh rates, charger level, efficiency, and location.

✅ Costs vary by kWh price, region, and charger type.

✅ Efficiency (mi/kWh) sets per-mile cost and range.

✅ Tax credits and utility rates impact total ownership.

 

More and more car manufacturing companies dip their toes in the world of electric vehicles every year, making it a good time to buy an EV for many shoppers, and the U.S. government is also offering incentives to turn the tides on car purchasing. Electric vehicles bought between 2010 and 2022 may be eligible for a tax credit of up to $7,500. 

And according to the Consumer Reports analysis on long-term ownership, the cost of charging an electric vehicle is almost always cheaper than fueling a gas-powered car – sometimes by hundreds of dollars.

But that depends on the type of car and where in the country you live, in a market many expect to be mainstream within a decade across the U.S. Here's everything you need to know.


How much does it cost to charge an electric car?
An electric vehicle’s fuel efficiency can be measured in kilowatt-hours per 100 miles, and common charging-efficiency myths have been fact-checked to correct math errors.

For example, if electricity costs 10.7 cents per kilowatt-hour, charging a 200-mile range 54-kWh battery would cost about $6. Charging a vehicle that consumes 27 kWh to travel 100 miles would cost three cents a mile. 

The national average cost of electricity is 10 cents per kWh and 11.7 cents per kWh for residential use. Idaho National Laboratory’s Advanced Vehicle Testing compares the energy cost per mile for electric-powered and gasoline-fueled vehicles.

For example, at 10 cents per kWh, an electric vehicle with an efficiency of 3 miles per kWh would cost about 3.3 cents per mile. The gasoline equivalent cost for this electricity cost would be just under $2.60 per gallon.

Prices vary by location as well. For example, Consumer Report found that West Coast electric vehicles tend to be less expensive to operate than gas-powered or hybrid cars, and are often better for the planet depending on local energy mix, but gas prices are often lower than electricity in New England.

Public charging networks in California cost about 30 cents per kWh for Level 2 and 40 cents per kWh for DCFC. Here’s an example of the cost breakdown using a Nissan LEAF with a 150-mile range and 40-kWh battery:

Level 2, empty to full charge: $12
DCFC, empty to full charge: $16

Many cars also offer complimentary charging for the first few years of ownership or provide credits to use for free charging. You can check the full estimated cost using the Department of Energy’s Vehicle Cost Calculator as the grid prepares for an American EV boom in the years ahead.


How long does it take to charge an electric car?
This depends on the type of charger you're using. Charging with a Level 1 charger takes much longer to reach full battery than a level 2 charger or a DCFC, or Direct Current Fast Charger. Here's how much time you can expect to spend charging your electric vehicle:

 

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Electric vehicle owners can get paid to sell electricity back to the grid

Ontario EV V2G Pilots enable bi-directional charging, backup power, and grid services with IESO, Toronto Hydro, and Hydro One, linking energy storage, solar, blockchain apps, and demand response incentives for smarter electrification.

 

Key Points

Ontario EV V2G pilots test bidirectional charging and backup power to support grid services with apps and incentives.

✅ Tests Nissan Leaf V2H backup with Hydro One and Peak Power.

✅ Integrates solar, storage, blockchain apps via Sky Energy and partners.

✅ Pilots demand response apps in Toronto and Waterloo utilities.

 

Electric vehicle owners in Ontario may one day be able to use the electricity in their EVs instead of loud diesel or gas generators to provide emergency power during blackouts. They could potentially also sell back energy to the grid when needed. Both are key areas of focus for new pilot projects announced this week by Ontario’s electricity grid operator and partners that include Toronto Hydro and Ontario Hydro.

Three projects announced this week will test the bi-directional power capabilities of current EVs and the grid, all partially funded by the Independent Electricity System Operator (IESO) of Ontario, with their announcement in Toronto also attended by Ontario Energy Minister Todd Smith.

The first project is with Hydro One Networks and Peak Power, which will use up to 10 privately owned Nissan Leafs to test what is needed technically to support owners using their cars for vehicle-to-building charging during power outages. It will also study what type of financial incentives will convince EV owners to provide backup power for other users, and therefore the grid.

A second pilot program with solar specialist Sky Energy and engineering firm Hero Energy will study EVs, energy storage, and solar panels to further examine how consumers with potentially more power to offer the grid could do it securely, in part using blockchain technology. York University and Volta Research are other partners in the program, which has already produced an app that can help drivers choose when and how much power to provide the grid — if any.

The third program is with local utilities in Toronto and Waterloo, Ont., and will test a secure digital app that helps EV drivers see the current demands on the grid through improved grid coordination mechanisms, and potentially price an incentive to EV drivers not to charge their vehicles for a few hours. Drivers could also be actively further paid to provide some of the charge currently in their vehicle back to the grid.

It all adds up to $2.7 million in program funding from IESO ($1.1 million) and the associated partners.

“An EV charged in Ontario produces roughly three per cent of emissions of a gas fuelled car,” said IESO’s Carla Nell, vice-president of corporate relations and innovation at the announcement near Peak Power chargers in downtown Toronto. “We know that Ontario consumers are buying EVs, and expected to increase tenfold — so we have to support electrification.”

If these types of programs sound familiar, it may be because utilities in Ontario have been testing such vehicle-to-grid technologies soon after affordable EVs became available in the fall of 2011. One such program was run by PowerStream, now the called Alectra, and headed by Neetika Sathe, who is now Alectra’s vice-president of its Green Energy and Technology (GRE&T) Centre in Guelph, Ont.

The difference between now and those tests in the mid-2010s is that the upcoming wave of EV sales can be clearly seen on the horizon, and California's grid stability work shows how EVs can play a larger role.

“We can see the tsunami now,” she said, noting that cost parity between EVs and gas vehicles is likely four or five years away — without government incentives, she stressed. “Now it’s not a question of if, it’s a question of when — and that when has received much more clarity on it.”

Sathe sees a benefit in studying all these types of bi-directional power-flowing scenarios, but notes that they are future scenarios for years in the future, especially since bi-directional charging equipment — and the vehicles with this capability — are pricey, and largely still not here. What she believes is much closer is the ability to automatically communicate what the grid needs with EV drivers, as Nova Scotia Power pilots integration, and how they could possibly help. For a price, of course.

“If I can set up a system that says ‘oh, the grid is stressed, can you not charge for the next two hours? And here’s what we’ll offer to you for that,’ that’s closer to low-hanging fruit,” she said, noting that Alectra is currently testing out such systems. “Think of it the same way as offering your car for Uber, or a room on Airbnb.”

 

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