Fresh Doubts on Viability of Galilee Basin Becoming a Supplier of Coal to India

first_img FacebookTwitterLinkedInEmailPrint分享From World Coal:New analysis from the University of Queensland (UQ) has thrown into doubt the long-term viability of delivering Galilee Basin coal to India. According to UG Global Change Initiative Researcher, Lynette Molyneaux, the economic profile of many of India’s energy-poor states is unsuited to supporting coal-fired power.The research calculates the costs of supplying Galilee Basin coal to new coal-fired power plants in one such state – Bihar in northeast India on the border with Nepal. The costs included a percentage of the amount required to buy and develop the Abbot Point coal terminal, as well as projected costs to ship the coal to the Indian port of Paradip and then rail it from Paradip to Bihar. This was then compared to the costs involved in deploying a decentralised micro-grid in the same region.“We estimate it would cost about US$94/t to deliver Galilee Basin coal to Bihar,” said Molyneaux. “Overall, we found that it would cost about US$29 billion over 20 yr to supply even a modest amount of electricity to each household in Bihar.”“The elephant in the room for proponents of coal-fired power to relieve energy poverty for the rural, agrarian poor is that remote rural locations have little or no industry to underwrite the costs of electrification,” Molyneaux concluded. “Coal-fired power stations are not designed to run for just a few hours a night, which is what the 15.8 million households in Bihar need to light their homes and charge their mobile homes.”As an alternative model, Molyneaux points to the solar panels installed on people’s homes in Bangladesh, which have reduced the use of noxious fuels and provided employment for up to 100 000 people. The research – ‘Rural Electrification in India: Galilee Basin Coal versus Decentralised Renewable Energy Micro-Grids’ – is published in the April issue of Renewable Energy.The UQ research is by no means the only one to questions the Galilee Basin developments. More harmfully, the financial community has also raised questions over the commercial viability of projects in the Galilee Basin –which include Adani Mining’s Carmichael project and GVK Hancock’s Alpha and Kevin’s Corner projects.In August, Australia’s Commonwealth Bank resigned as the financial advisor to the Carmichael project as it was “finding it increasingly difficult to justify its involvement in a project which was both harmful to the environment and commercially infeasible,” according to a December 2015 note from BMI Research.This was a significant blow, according to BMI Research, which described the situation as “grim”. Without the support of an Australian bank, which foreign banks rely on to do the necessary due diligence and for on-the-ground knowledge and expertise, Adani is unlikely to be able to secure sufficient for the US$16.5 billion project: a briefing from the IEEFA’s Tim Buckley noted last September that the project was “increasingly unbankable” with fifteen of the world’s largest financial houses having either ceased or ruled out involvement.“The Carmichael project is far from financial close and the first commercial coal remains and remote prospect,” concluded Buckley. Similar problems face GVK Hancock, which is also yet to secure funding for its Galilee Basin projects.“The prospects for further coal production in Australia remains grim due to the environment of persistently low coal prices and the increased reliance of India and China on their domestic thermal coal production to fuel their thermal power plants,” concluded BMI Research, which expects the country’s production to reach 498 million t by 2019 – only slightly higher than the 481 million t forecast in 2016.Research continues to question financial viability of Galilee Basin coal projects Fresh Doubts on Viability of Galilee Basin Becoming a Supplier of Coal to Indialast_img read more

Senior Kendrick Castillo identified as student killed in CO shooting

first_imgWednesday, police identified the student who was killed in Tuesday’s shooting at the STEM School Highlands Ranch in Colorado as 18-year-old Kendrick Castillo.Kendrick was shot to death while attempting to stop the shooter, and eight others were injured.A female classmate told reporters Kendrick charged the shooter giving students time to hide and flee the scene.Kendrick’s parents broke their silence Wednesday confirming to reporters that he was killed in the shooting, adding, that their son was a hero and want the public to know what a great kid he was.Kendrick was a senior set to graduate at the end of the month, and Friday would have been his last day of school.He enjoyed computer information technology and was on the school’s robotics team.Douglas County Sheriff Tony Spurlock said there were “very heroic things” that took place inside the school, including students attempting to stop the shooters.last_img read more

Barcelona star Lionel Messi wins La Liga player of the month – for the FIRST time!

first_img Lionel Messi 1 Lionel Messi has been named Spain’s La Liga player of the month for January – the first time he has won the award.The award has been given out since the beginning of the 2013-14 Primera Division season, but the five-time FIFA Ballon d’Or winner had not won it until now.The Barcelona forward finally won the award at the 23rd time of asking after scoring six goals in as many league games in January.The 28-year-old struck a hat-trick against Granada as well as scoring in victories over Athletic Bilbao, Malaga and Atletico Madrid to take his total of league goals for the season to 12.Messi is only the second Barcelona player to win the award following Neymar’s success in November.Cristiano Ronaldo has won the award twice since it began in September 2013, as have Atletico pair Diego Godin and Antoine Griezmann and Real Sociedad striker Carlos Vela.last_img read more