Welcome to Azure International

Azure International is a leading investment and advisory company focused on China's cleantech energy sector. Founded in 2003, we have a team of 20+ local and international professionals based in China with backgrounds in engineering, marketing, manufacturing, consulting, policy, government relations and finance. In addition to deep advisory capabilities in renewable energy, energy efficiency, carbon management, and energy finance, we have proven capability to invest in and accelerate the development of clean energy companies.  Our portfolio and partner companies have achieved both significant commercial success and returns to investors. Azure provides the necessary expertise and execution capabilities in China to lead relationship development with government and strategic partners, project execution, sourcing, sales and technology development – all with deep understanding of Chinese and international requirements.

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China - 2008

ChinaWindInstalledCap

This picture shows the locations of presently installed wind farms currently in operation in China. Azure professionals maintain extensive data base of wind farms currently in operation, as well as those considered to be imminent  development as well as potential long-term development.

 

Context

A sectoral approach is a bottom-up instrument to compare the efforts that industrialized countries are making with respect to reducing carbon emissions. Secondly, it is a way of trying to address a whole sector of the economy in a way that would be scaling up the current project-based approach. Getting industries worldwide to perform the same standards would eliminate the possibility of carbon leakage, eliminating the shipment of industries from region to region to escape carbon regulatory policies.

Objective

This project’s objective was to use the sectoral proposal template tool to facilitate the negotiation of credible, transparent and systematic sectoral crediting baselines. The template combined qualitative and quantitative information on the sector and the relevant circumstances in the country in a structured way. The goal was to improve the understanding of the concept of sectoral crediting baselines and to learn about data availability and data collection needs.

Outcome

Sectoral crediting continues to be an important area of discussion in ongoing international climate negotiations. Thus far, these negotiations have been dominated by proposals for a global carbon market and sectoral crediting mechanisms tied to nationally appropriate mitigation actions for developing countries. In China, the National Development and Reform Commission (NDRC), responsible for renewable energy target policy and potential carbon regulations, has tacitly given lip service to the possible use of sectoral targeting, which is a major step when compared to their prior instances that they have an inherent right to develop without added environmental protection costs.
Documents

Testing Sectoral Approaches in China | Download

'The Value of Carbon in China – Carbon Finance and China’s Sustainable Energy Transition', a China-based perspective of the impact of CDM in China with in-depth analysis of various project types, provinces and market survey.

This presentation, given by Sebastian Meyer at the Global Wind Power conference in October 2008, examined the historical development of China’s wind market. He then used that historical perspective to examine the ability of the Chinese wind market to continue to grow through 2011, looking at developer’s participation, capital market participation, government requirements through its Renewable Energy Law, as well as grid connection issues and capacity utilization of installed turbines. He found that it near-term demand is secure and on-target, but longer-term growth faces a growing number of challenges, especially the deficient amount of attention paid to actual electricity generated for the grid, measured in kWh, in favor of total kW installed.

This presentation, given in March of 2007 by Sebastian Meyer of Azure’s Cleantech Research and Advisory team, focused on wind project financing for ongoing projects. Sebastian noted that at that time, China had installed 2.6GW of wind capacity with 1.4GW being installed in 2006 alone. On the question of finance, he said established wind developers had strong balance sheets, and would be able to finance projects with 80% debt and 20% equity. He also commented on the lack of foreign equity or institutional lending. He also said that lending to wind projects still made up a small piece of the larger Chinese power sector, where total power generation increased by 105GW in 2006, meaning wind was only 1.6% of the total.

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