Search results

Renewable energy infrastructure is an important asset class in the context of reducing global carbon emissions going forward. This includes solar power, wind farms, hydro, battery storage and hydrogen. This paper examines the risk-adjusted performance and diversification benefits of listed renewable energy infrastructure globally over Q1:2009–Q4:2022 to examine the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio. The performance of renewable energy infrastructure is compared with the other major infrastructure sectors and other major asset classes. The strategic investment implications for institutional investors and renewable energy infrastructure in their portfolios going forward are also highlighted. This includes identifying effective pathways for renewable energy infrastructure exposure by institutional investors.

Using quarterly total returns, the risk-adjusted performance and portfolio diversification benefits of global listed renewable energy infrastructure over Q1:2009–Q4:2022 is assessed. Asset allocation diagrams are used to assess the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio.

Listed renewable energy infrastructure was seen to underperform the other infrastructure sectors and other major asset classes over 2009–2022. While delivering portfolio diversification benefits, no renewable energy infrastructure was seen in the optimal infrastructure portfolio or mixed-asset portfolio. More impressive performance characteristics were seen by nonlisted infrastructure funds over this period. Practical reasons for these results are provided as well as effective pathways going forward are identified for the fuller inclusion of renewable energy infrastructure in institutional investor portfolios.

Institutional investors have an important role in supporting reduced global carbon emissions via their investment mandates and asset allocations. Renewable energy infrastructure will be a key asset to assist in the delivery of this important agenda for a greener economy and addressing global warming. Based on this performance analysis, effective pathways are identified for institutional investors of different size assets under management (AUM) to access renewable energy infrastructure. This will see institutional investors embracing critical investment issues as well as environmental and social issues in their investment strategies going forward.

This paper is the first published empirical research analysis on the performance of renewable energy infrastructure at a global level. This research enables empirically validated, more informed and practical decision-making by institutional investors in the renewable energy infrastructure space. The ultimate aim of this paper is to articulate the potential strategic role of renewable energy infrastructure as an important infrastructure sector in the institutional real asset investment space and to identify effective pathways to achieve this renewable energy infrastructure exposure, as institutional investors focus on the strategic issues in reducing global carbon emissions in the context of increased global warming.

This study is intended to analyze the impact of information and communication technology (ICT) infrastructure, technological innovation, renewable energy consumption and financial development on carbon dioxide emissions in emerging economies.

The present study adopts the autoregressive distributed lag (ARDL) cointegration technique for the annual data collection of Vietnam from 1990 to 2020.

The results of the study unveil that renewable energy consumption, the interaction between renewable energy consumption and ICT infrastructure and financial development have significant predictive power for carbon dioxide emissions. In the long term, renewable energy consumption, export and population growth reduce CO2 emissions, whereas the interaction between renewable energy consumption and ICT infrastructure and financial development increases CO2 emissions, while ICT infrastructure does not affect emissions. In the short run, changes in ICT infrastructure contribute to carbon dioxide emissions in Vietnam. In addition, changes in renewable energy consumption, financial development, the interaction between ICT infrastructure and renewable energy consumption and population growth have a significant effect on CO2 emissions. Notably, technological innovation has no impact on CO2 emissions in both the short and long run.

The current study provides new insights into the environmental effects of ICT infrastructure, technological innovation, renewable energy consumption and financial development. The interaction between renewable energy consumption and ICT infrastructure has a significant effect on carbon dioxide emissions. The paper suggests important implications for setting long-run policies to boost the effects of financial development, renewable energy consumption and ICT infrastructure on environmental quality in emerging countries like Vietnam in the coming time.

Over the past three decades, new off-grid electrification infrastructures – as micro-grids and other solar solutions – have moved from innovative initiatives, conducted by NGOs and private stakeholders, to a credible model promoted by international organizations for electrification of rural areas in developing countries. Multiple conditions support their spread: major technological advances in the field of renewable energies (panels, batteries), intensive Chinese industrial production allowing lower prices, institutional reforms in Africa including these solutions in major national electrification programmes, and, finally, an opening to the private sector as a supposed guarantee of the projects’ viability. However, while the development of this market calls for significant investments, a vast set of calculations and a strong “micro-capitalist” doctrine, all involved in their design, experts admit that a large proportion of projects hardly survive or even fail.

This chapter investigates these failures by exploring the ecology of such infrastructures, designed for “the poor.” It discusses “thinking infrastructures” in terms of longevity by focusing on economic failures risks. The authors argue that the ecology of the infrastructure integrates various economic conversions and exchanges chains expected to participate in the infrastructure’s functioning. By following energy access solutions for rural Africa in sub-regions of Senegal and Madagascar, from their political and technical design to their ordinary life, the authors examine the tensions and contradictions embedded within the scripts of balance supposed to guarantee their success.

The chapter analyses the role of smart grid technology in the German energy transition. Information technologies promise to help integrate volatile renewable energies (wind and solar power) into the grid. Yet, the promise of intelligent infrastructures does not only extend to technological infrastructures, but also to market infrastructures. Smart grid technologies underpin and foster the design of a “smart” electricity market, where dispersed energy prosumers can adapt, in real time, to fluctuating price signals that register changes in electricity generation. This could neutralize fluctuations resulting from the increased share of renewables. To critically “think” the promise of smart infrastructure, it is not enough to just focus on digital devices. Rather, it becomes necessary to scrutinize economic assumptions about the “intelligence” of markets and the technopolitics of electricity market design. This chapter will first show the historical trajectory of the technopolitical promise of renewable energy as not only a more sustainable, but also a more democratic alternative to fossil and nuclear power, by looking at the affinities between market liberal and ecological critiques of centralized fossil and nuclear based energy systems. It will then elucidate the co-construction of smart grids and smart markets in the governmental plans for an “electricity market 2.0.” Finally, the chapter will show how smart grid and smart metering technology fosters new forms of economic agency like the domo oeconomicus. Such an economic formatting of smart grid technology, however, forecloses other ecologically prudent and politically progressive ways of constructing and engaging with intelligent infrastructures.

The demand for energy infrastructure projects has increased steadily over the last few decades and has come at a high cost. Disruptive technologies (DTs) have the inherent capability to affect the performance of energy infrastructure projects. Therefore, this research aims to explore the implications of DTs on the performance of energy infrastructure projects.

This research adopts a positivist philosophical position. A quantitative strategy and deductive approach (based on a survey design) guided this study. Sixty-six respondents participated in the study. The study’s population comprised of experts in energy infrastructure projects who possessed a high level of industrial experience including top- and middle-level management of power generation companies. Cochran’s formula was used to select a sufficient sample for the study. Linear regression, one sample test and Cronbach’s alpha were the analytical tools adopted.

This study established that there is an 18.4% increase in the performance of energy infrastructure projects in Ghana when DTs are applied. In order of importance, DTs improve speed of operations in energy projects; reduce operating cost and enhance efficiency of energy projects; drive sustainable economic development; enhance security in energy projects; and improve environmental sustainability of projects. The study also revealed that e-commerce technologies, renewable energy technologies, three-dimensional printing, bar code technology, photogrammetry, global positioning systems, geographic information systems and nanotechnologies were the topmost ranked DTs with the most impact on the performance of energy infrastructure projects.

This is a novel investigation on the implications of DTs on the performance of Ghanaian energy infrastructure projects. This study’s practical implication is evident in both policy and practice. Energy sector policymakers should endeavour to adopt DTs in their operations to enhance sustainability and performance.

The purpose of this study is to dissect the transport infrastructure performance, public spending in transport infrastructure development and the manufacturing sector in determining the transport sector energy consumption.

An analysis of transport energy consumption with the transport infrastructure performance, public spending in transport infrastructure and manufacturing sector output in India using annual data for the period 1987–2019. The study used the autoregressive distributed lag (ARDL) bounds test approach along with FMOLS, DOLS and canonical cointegration regression (CCR) methods.

The results of the ARDL bounds test provide evidence for the long- and short-run relationships among study variables. It evidenced that transport infrastructure performance reduces transport energy consumption by using FMOLS, DOLS and CCR methods. Furthermore, the inference of the positive impact of value added in the manufacturing sector on transport energy consumption validates the higher energy demand of the manufacturing sector from a mobility perspective.

The estimated finding of this study is expected to be contributing to policy-making discussions on transport infrastructure and manufacturing sector development in an emerging economy like India with insights on energy consumption.

To the best of the authors’ knowledge, this is the first study that integrates the impact of manufacturing sector output on transport sector energy consumption along with transport infrastructure performance and public investment in the transport infrastructure.

Inefficiencies in the power sector resulting from underinvesting and underselling reduce the ability of governments to adequately finance energy projects. The purpose of this paper is to explore mechanisms of energy financing, benefits and challenges associated with innovative financing of energy infrastructure as well as strategies to improve innovative financing of energy infrastructure.

Questionnaires were used to elicit responses from respondents. Seventy-eight responses were retrieved. Mean score ranking, Kruskal–Wallis test and discriminant validity were the analysis conducted.

Partial credit guarantee; partial risk guarantee; credit enhancement; and loan guarantees were the significant mechanisms. Production efficiency; reduce pressure on public budgets; access to management expertise; and self-sustainability of infrastructure facilities were the significant benefits. Lack of transparency and adequate data for risk assessment; high up-front cost; heterogeneity, complexity, and presence of a large number of parties; and lack of a clear benchmark for measuring investment performance were the severest challenges. Complete transparency and accountability; political stability and public view on private provision of energy infrastructure services; and macroeconomic environment were the significant strategies.

This study is beneficial to energy sector as the current government of Ghana hints on willingness to involve private sector in management of the power sector.

The novelty of this study is that it is a pioneering study in Ghana on innovative financing of energy infrastructure.

The purpose of the paper is to examine the impact of infrastructure investment and development on economic growth in Brazil, Russia, India, China and South Africa (BRICS) countries. The effect is examined for each country separately and also collectively by combining each country.

Ordinary least square regression method is applied to examine the effects of infrastructure investment and development on economic growth for each country. Panel data techniques such as panel least square method, panel least square fixed-effect model and panel least square random effect model are used to examine the collective impact by combining all countries in BRICS. The dynamic panel model is also incorporated for analysis in the study.

The results of the study are mixed. The association between infrastructure investment and development and economic growth for countries within BRICS is not robust. There is an insignificant relationship between infrastructure investment and development and economic growth in Brazil and South Africa. Energy and transportation infrastructure investment and development lead to economic growth in Russia. Telecommunication infrastructure investment and development and economic growth have a negative relationship in India, whereas there is a negative association between transport infrastructure investment and development and economic growth in China. Panel data results conclude that energy infrastructure investment and development lead to economic growth, whereas telecommunication infrastructure investment and development are significant and negatively linked with economic growth.

The study is novel as time series analysis and panel data analysis are used, taking the time span for 38 years (1980–2017) to investigate the influence of infrastructure investment and development on economic growth in BRICS Countries. Time-series regression analysis is used to test the impact for individual countries separately, whereas panel data regression analysis is used to examine the impact collectively for all countries in BRICS.

The purpose of this paper is to shed light to the concept of solar electricity transfer from North Africa to Europe in the frame of Article 9 of the European Renewable Energy Sources (EU-RES) Directive 28/2009/EC, to explain why efforts have not been successful up to now and to provide recommendations on how to proceed.

The authors have compared the “Supergrid” concept that was pursued by some institutions in the past years with the original “TRANS-CSP” concept developed by the German Aerospace Centre in 2006. From this analysis, the authors could identify not only major barriers but also possible ways towards successful implementation.

The authors found that in contrast to the Supergrid approach, the original concept of exporting dispatchable solar power from concentrating solar thermal power stations with thermal energy storage (CSP-TES) via point-to-point high voltage direct current (HVDC) transmission directly to European centres of demand could be a resilient business case for Europe–North Africa cooperation, as it provides added value in both regions.

The analysis has been made in the frame of the BETTER project commissioned by the Executive Agency for Competitiveness & Innovation in the frame of the program Intelligent Energy Europe.

One of the major implications found is that due to the time lost in the past years by following a distracted concept, the option of flexible solar power imports from North Africa to Europe is not any more feasible to become part of the 2020 supply scheme.

To make them a viable option for post-2020 renewable energy systems for electricity development in Europe, a key recommendation of the project is to elaborate a detailed feasibility study about concrete CSP-HVDC links urgently.

The analysis presented here is the first to give concrete recommendations for the implementation of such infrastructure.