Follow the money for unreliables

Cleaning the study (see Augean stables) The Spectator for 5 May came to light with a story by Andrew Urban “Parasites Eating Australia” with reference to climate change leeches.

This prompted the thought, just who are the people and organisations who are making money out of unreliable energy? I assume that is mostly wind and solar, although of course there are other schemes about like geothermal that was going down the drain at last report and tidal that provided the enduring image of the unreliable misadventure.

So here is a class exercise: what do we know about the organisations that are cashing in on RE projects, what is their corporate structure, who runs them and who is making money out of them? And what are the sums of money involved, for example Wind and Solar may receive subsidies up to 2.8 Billion per annum up to 2030.

Turnbull’s son and the Infigen story.

And the wife of Mr Photios? And others.

demonstrating she wants to be a builder not a wrecker, Kristina — a former Macquarie Bank analyst and KPMG adviser — has also created a new group called “Conservatives for Conservation” to champion environmental causes within the Coalition.

Kristina chairs the group, which we understand has secured the patronage of former Howard-era environment minister Robert Hill, former father-of-the-house Philip Ruddock, the Liberals’ first federal female president Chris McDiven and, perhaps most significantly, former NSW premier Nick Greiner, the party’s all-but-official president-elect who will replace the outgoing Richard Alston in a fortnight at the Liberals’ federal council.

Almost-president-elect Greiner has long been a supporter of strong action on climate policy, saying just before the Abbott era began in 2009 that it was “nonsense” to behave as if it was a “left-wing con­spiracy”.

Greiner has also been one of the most articulate supporters of the Turnbull government’s David Gonski-blessed school funding reforms, which he has called “a model of fairness and common sense”.

And then there’s Greiner’s contact book, bulging after his energetic post-political career in business at QBE, CHAMP ­private equity, Rothschild ­Australia, Transurban and on and on. Just the man for the Turnbull-led, cash-strapped party.

This entry was posted in Uncategorized. Bookmark the permalink.

43 Responses to Follow the money for unreliables

  1. Empire 5:5

    I’ll start a dig tomorrow.

    First I need to buy a 6×4’ cork board, a thousand drawing pins and 50’ of string.

    And a bag of kush to calm my nerves when the scale of the crime is laid bare before me.

  2. 2dogs

    ScoMo needs to deal with the fallout after Turnbull’s NEG by promising a plebiscite on energy policy.

    Three options:
    a) fossil fuels
    b) nuclear
    c) renewables

    Time it to coincide with the next election. Push the nuclear option, which will win it. Coast in on that focus.

  3. Nob

    Operators in the so-called “fossil fuel industry” are some of the biggest private investors in wind .

    They’re businesses and they won’t leave a free subsidy with guaranteed feed-in rates uncollected. It’s a lot easier than the risky business of finding, developing and converting free oil, gas and coal into cheap energy.

    It also buys them indulgences from the anti-hydrocarbon fanatics in government and in the regulatory bodies they have infiltrated.

  4. Steve

    Union controlled super funds.

  5. RobK

    The history of Vestas is probably the poster child of windturbine manufacture. The wiki entry is detailed but lengthy. Intro:

    Vestas Wind Systems A/S is a Danishmanufacturer, seller, installer, and servicer of wind turbines. It was founded in 1945, and as of 2013, it is the largest wind turbine company in the world.[2] The company operates manufacturing plants in Denmark, Germany, India, Italy, Romania, the United Kingdom, Spain, Sweden, Norway, Australia, China, and the United States,[3] and employs more than 21,000 people globally.[4]

  6. RobK

    Another big wind turbine player:Siemens from wiki:

    a Life-cycle assessment, SWP calculates that the energy for manufacturing a 6 MW direct drive wind turbine is made back in under 10 months depending on circumstances,[80][81]roughly the same as independent research suggests.[82][83]

    SWP develops artificial neural networks for machine learning to predict and diagnose potential problems in 9,000 wind turbines with 400 sensors each, sending data several times a second.[84]

    Siemens tests its turbines at LORC, its own test sites and Østerild Wind Turbine Test Field. In 2017, Siemens installed a low-wind 3.15 MW turbine with a 142-meter rotor.[85]

  7. RobK

    Last one:
    https://www.ge.com/renewableenergy/wind-energy/turbines

    turbines are capturing the wind’s power and converting it to electricity.  With over 35,000 wind turbines installed globally, GE is one of the world’s leading turbine suppliers. 

  8. Adrien

    So here is a class exercise: what do we know about the organisations that are cashing in on RE projects, what is their corporate structure, who runs them and who is making money out of them?

    Indeed.

  9. Nob

    If Vestas are really manufacturing wind turbines in Australia, then you don’t even have to ask if they’re getting subsidies or some special treatment.

    You know they are.

  10. Mark M

    Smart meters, but at whose expense?

    “THE introduction of smart meters in Victoria may have been a costly exercise for consumers but it has proven an impressive money spinner for a handful of Australian entrepreneurs.

    Cameron O’Reilly, the scion of the Heinz food empire and former chief of media group APN, along with John B. Fairfax, the Smorgon family and Kerry Stokes are a few of the high-profile names to have made a killing from the sale of smart meters.
    They were major shareholders of Landis + Gyr, the company that amassed about 56 per cent of the market in deals to supply the electricity distributors in Victoria.

    Their big payday came in 2011 when O’Reilly sold Landis + Gyr to Toshiba for $US2.3 billion.

    An investigation by BusinessDay has found Australians have been paying about twice the amount for smart meters than consumers in the US and Europe.
    And there has been poor transparency even though the metering devices had been mandated by the government.”

    Read on: https://www.theage.com.au/business/smart-meters-but-at-whose-expense-20121223-2btjd.html

  11. hzhousewife

    From struth’s Lacour article, precious petal No 2 is Linda –

    She is also working on a personal project, converting a late 1970’s lime green caravan so that it can go completely off-grid.

    lol !

  12. RobK

    Then of course there’s the ticket clippers. Certificate traders/brokers such as Trading in Green

    Trade in Green – putting the power in your hands

    Trade In Green are your turnkey provider for the management and trading of renewable and environmental certificates, consultation and approvals of solar power stations and facilitation and financing of Solar Power Purchase Agreements

  13. Don’t look at just the corporate end of the scam, there are also the myriad of honest and less than reputable small businesses taking advantage of this boondoggle, offering all manner of incentives to sign up for solar systems (power and hot water). We still get phone calls and door knockers offering deals that are too good to be true.

    Then there are the governments, like our state government that offers everyone $50 just to check their website for cheaper power (and the companies/brokers offering to do this for you), and then offering interest free $4500 loans for solar systems and $1000 grants for solar hot water systems. And don’t forget the free LED downlights and the companies that supply these. What do they expect out of this? Votes.

    Also, with the government grants, the prices of these systems naturally rise to meet the grant, so system suppliers and installers all benefit. Our local solar installer drives a top of the line Tesla and has a roof virtually covered in solar panels, all a business deduction of course. It’s a gravy train that feeds a lot of people.

  14. Rafe Champion

    What about Turnbull’s son.?
    The Infigen story.

    And the wife of Mr Photios? And others.

    demonstrating she wants to be a builder not a wrecker, Kristina — a former Macquarie Bank analyst and KPMG adviser — has also created a new group called “Conservatives for Conservation” to champion environmental causes within the Coalition.

    Kristina chairs the group, which we understand has secured the patronage of former Howard-era environment minister Robert Hill, former father-of-the-house Philip Ruddock, the Liberals’ first federal female president Chris McDiven and, perhaps most significantly, former NSW premier Nick Greiner, the party’s all-but-official president-elect who will replace the outgoing Richard Alston in a fortnight at the Liberals’ federal council.

    Almost-president-elect Greiner has long been a supporter of strong action on climate policy, saying just before the Abbott era began in 2009 that it was “nonsense” to behave as if it was a “left-wing con­spiracy”.

    Greiner has also been one of the most articulate supporters of the Turnbull government’s David Gonski-blessed school funding reforms, which he has called “a model of fairness and common sense”.

    And then there’s Greiner’s contact book, bulging after his energetic post-political career in business at QBE, CHAMP ­private equity, Rothschild ­Australia, Transurban and on and on. Just the man for the Turnbull-led, cash-strapped party.

  15. H B Bear

    All the usual suspects there Rafe. Greiner should have been shamed out of public life after the judge’s comments in that takeover case but as a modern Lieboral he doesn’t have any obviously.

  16. Rohan

    Empire 5:5
    First I need to buy a 6×4’ cork board, a thousand drawing pins and 50’ of string.

    You’re going to need a bigger cork board.

  17. John Constantine

    Cash is one currency.

    What if some revolutionary freedom fighters feel that the thrill of progressing the downfall and toppling an outpost of colonialist injustice inequality is the currency they are addicted to and value most highly?.

  18. John Constantine

    In America, many lefty cultist fanatics openly boast that a financial depression is a cheap price to pay to end Trumptopia and bring about an eternal global totalitarian Stalinist hellhole dystopia.

    This phantasy is their currency, based on beliefs more solid than the Ponzi Australian dollar.

  19. win

    After this you might like to see the whos who of the Disability industry where they add 3 noughts to the dollar sign. Quotes for a disability walker are $7181.50 and $ 5627.00.

  20. Myrddin Seren

    Slightly off topic:

    via Ben Pile

    Climate change denial strongly linked to right-wing nationalism

    With Chalmers University of Technology, Sweden, as a hub, the world’s first global research network into climate change denial has now been established.

    In the project, the network will examine the ideas and interests behind climate change denial, with a particular focus on right-wing nationalism, extractive industries, and conservative thinktanks

    1. These people have been given a pile of money to demonise ‘deniers’.

    2. The ultimate aim, in making the linkage above, is to categorise climate change scepticism as ‘hate speech’ and force it off public platforms and ultimately to be criminalised.

    This thread is an endangered species.

  21. Nob

    I’d imagine any failure to get onboard with incessant state interference could be called “right wing”.

  22. Aussieute

    My solution for those who wish to drink green cool aid … with smart meters it would be possible to limit those who wish to have green energy can do so
    BUT when there is none their lights go out until the wonderful green reliable power returns.

    Oh and they don’t get to go on the electric trains and trams either. Take the stairs no lifts.

  23. JohnJJJ

    Of the people in my street two houses make their money directly from the Eco BS Industry. So that is around 10% of employed people. That is directly. Others work more indirectly such as advising various the pacific islands on issues related to rising sea levels.
    It is more than indicative as it is a sample with an error function.

  24. JohnJJJ

    Myrddin SerenIn the project, the network will examine the ideas and interests behind climate change denial,” – under the Communist regimes it was called ‘false consciousness’. Stalin,Castro, Pol Pot and Mao eventually sent them to reeducation camps. That is the next step. Exactly the same pathway of “logic”.

  25. Rafe Champion

    Not really off topic Myrddin, it is all networks and connections, dont’t forget the bigger picture of Agenda 21, now embodied in thousands of laws and regulations but not officially mentioned any more while the work of consolidation proceeds.

    Thanks for the link, never hold back from sharing stuff!

  26. Could a State Labor Govt in NSW be any worse than current Libs? Serious question.
    They have served 7 or 8 years in the wilderness for their sins of hosting Eddie Obeid and crew for 30 years.

  27. Tel

    https://capitalresearch.org/article/the-united-states-of-goldman-sachs-2/

    Goldman’s Climate Agenda

    In a letter to shareholders that accompanied the 2015 annual report, Blankfein and Cohn, stated that the company was ahead of most other firms in tackling climate change when it established its Environmental Policy Framework in 2005.

    “Specifically, to facilitate the transition to a low-carbon economy, last year we updated our Environmental Policy Framework to include an increased target of $150 billion in clean energy financings and investments by 2025, up from an earlier target of $40 billion,” the letter to investors said. “Finally, we continue to be mindful of our own operational impact on the environment, pledging to be carbon neutral from 2015 onwards and to target 100 percent renewable power to meet our global electricity needs by 2020.”

    The company first announced in 2009 it was working with renewable energy leaders, purchasing carbon offsets and purchasing more green power for its various facilities to meet the carbon neutral goal by 2020. The announcement of spending $150 billion on green energy also made big news, particularly at a time when many green businesses seem to be failing.

    There’s bulk money to be found in being the middle-man in carbon certificate trading. Carbon trading directly links to so many things that are essential to life on Earth: crops, land use, livestock, energy, transport, electricity. These carbon certificates are designed to be the next global fiat currency after the US dollar goes down. I know hardly anyone believes me but this was explained to me years ago and these guys are never going to stop pushing, the prize is so amazingly big.

  28. RobK

    Tel,
    I think you summed it up well.
    Carbon is more functional than gold.

  29. Bruce of Newcastle

    Big business sees not-happening global warming as an opportunity to extract a vast amount of money from plebs, whether they like it or not.

    The Left sees not-happening global warming as an opportunity to impose totalitarian socialism on the plebs, whether they like it or not.

    Strange bedmates.

  30. Jonesy

    Like all subsidies…as soon as the taxpayer picks up the bill you can see prices ratchet upward. Solar panels, cars, school halls and shade areas, NDIS….part of pushing the population on to welfare plantations like the deep south of the US. Leftie wet dreams! Now, power is added to it but instead of tge taxpayer it is consumers who stuff the vaults of the rent seekers…the ultimate destruction of consumerism/capitalism.

  31. Jessie

    Tel,
    I think you summed it up well.
    Carbon is more functional than gold.

    I am not sure when CIS began speaking up of climate and carbon. Perhaps long after many, many others? John Humphries paper (2007) Exploring a Carbon Tax for Australia

  32. terry andrews

    The problem with the liberal party is that over half their sitting members shouldn’t be in the liberal party.

  33. Yes, always follow the money … but if I may be allowed just one correction: my cover story in the Spectator was titled Parisites Eating Australia. That was not a typo, but a pun referencing the Paris agreement.
    Andrew L. Urban

  34. Art Vandelay

    A good tactic might be to go through the financial accounts of the subsidy farmers to highlight just how much they are making from consumer subsidies (especially when contrasted with the revenue earnt from generation of wind power). As an example, Alan Moran did this well in an earlier post:

    Today we saw the release of wind farmer Infogen’s annual report. Reported revenue is $200 million this year. $120 million of this is subsidies and much of the rest boosted by subsidy-forced plant closures.

    Similarly, I recall a debate in the letters section of the Australian earlier this year after Simon Holmes a Court claimed that renewables were cheaper than coal. He eventually was put in his place when a letter writer pointed out that Holmes a Court’s own company was making more from subsidies than it was from actually generating electricity.

    Unfortunately I’ve been unable to find the letter but have come across this excellent comment from BoyfromTottenham on the Cat last year regarding Hepburn Energy, a project that Holmes a Court set up:

    Example: the Hepburn Wind Co-Op in Victoria Annual Report FY 2016 Annual Report figures:
    “2016 Revenue:
    Electricity Sales $437,210
    Renewable energy certificate sales $743,674”

    Damning stuff.

  35. Empire 5:5

    Rohan
    #2800938, posted on August 25, 2018 at 8:27 am

    Empire 5:5
    First I need to buy a 6×4’ cork board, a thousand drawing pins and 50’ of string.

    You’re going to need a bigger cork board.

    I wish I’d read your comment this morning. I’m currently doing my best Houdini impression and slowly bleeding to death.

  36. Empire 5:5

    And the dealer switched his phone off.

    Damn you Rafe Champion 😉

  37. Rafe Champion

    Andrew if your Spectator piece is on line can you please post the link to everyone else can read it!
    Tanks:)

    My Chinese friend wanted to know about parisites and Google did not help.

    But now I find it does bring up your article.

  38. Glen Turner

    Just got my big bill for the year, the winter electric one. So my average quarterly bill is just over a $100 thanks to a modest 3.5 kw array and a heat pump HWS. I love solar and renewables as they save me money and help save the planet. Coal is for losers and I hate losing so I will eschew it as per usual.

  39. RobK

    Glen,
    Do you have any idea how much FiT was used to subsidise your bill? Self consumption is fair enough, even though over 1/3 of your capital expenditure was found by others, the FiT that are paid to you are not sustainable. Essentially you are paid retail rates without distribution costs for energy you produce on an opertunistic basis. Others are lifting whilst you are invited to lean. Those without solar are paying for your welfare.

  40. Dr Fred Lenin

    When the subsidies are removed and the whole house of cards collapses ,make them pay for the restoral to pristine condition everythig comtsminated with gangrene filth ,and the environmentaly correct disposal of all windmills and solar panels . Also if anyone has countead the birds and bats destroyed by windmills , fine them heavily for repeated cruelty to animals . That will rake some of the shine off the ill gotten gains they have made,failure to comply should incur long ,long,long oeriods in prison at hard labor ,sorry labour the labor was because many of the prisoners woukd be from that gang .

  41. Myrddin Seren

    More from Ben Pile ( he wades through this swamp so you don’t have to )

    The UN endorses more alarmism from DW.com:

    The number of cooling ❄️ devices is expected to quadruple to 14 billion worldwide by 2050.

    As the use of cooling products increases, so too do global emissions. The result is a vicious circle that we need to break.

    Alarmists: ‘The poor will be most affected by rising temperatures ! ‘

    Rationalist: “Then let’s lift people out of poverty so they can have electricity, temperature control, refrigeration and clean water “.

    Alarmists: ‘The horror, the horror !’

    Rinse, repeat.

Comments are closed.