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Global financial investments in energy production and consumption are significant since all aspects of a country’s economic activity and development require energy resources. In this paper, we assess the investment trends in the global energy sector during, before, and after the financial crisis of 2008 using two data sources: (1) The Dealogic data...
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Context 1
... the database has limitations due to missing reports or zombie deals (that are announced but never realized). Our current database captures 171,465 GF FDI projects from 2003 to 2016, with capital investment totaling $10.6 T (See Appendix A Table A2). The database classifies the energy sector in two ways: First, by industrial activity; classes include mining and extraction, distribution and transmission, electricity generation, manufacture, retail and wholesale, and other business services. ...
Context 2
... a first step, we analyze general inbound and outbound global energy FDI for both M&A and GF investment types. We present the energy investments in Table 2 (similar to Figures 3 and 7). We show the outflows and inflows in each region. ...
Context 3
... a first step, we analyze general inbound and outbound global energy FDI for both M&A and GF investment types. We present the energy investments in Table 2 (similar to Figures 3 and 7). We show the outflows and inflows in each region. ...
Context 4
... a result, As a first step, we analyze general inbound and outbound global energy FDI for both M&A and GF investment types. We present the energy investments in Table 2 (similar to Figures 3 and 7). We show the outflows and inflows in each region. ...
Citations
... Com efeito, o interesse chinês nos recursos naturais estratégicos, abundantes na América Latina, teria correlação com um determinado tipo de diplomacia. "Resource diplomacy" is characterized as the Chinese effort to secure the supply of raw materials and energy for its national economy" (GOPAL;et al., 2018, p. 3). ...
... A collective study by leading economists Gopal et al. (2018) presents the energy sector (fossil fuel) supply chain by North American Industry Classification System (NAICS) codes thoroughly in tabular and schematic form. in industry sectors. The article describes the opportunities for China as an energy market leader in the M&A process. ...
The global fuel and energy market occupies a significant position in international trade, which encourages companies in the industry to carry out a digital transformation in the supply chain and accounting of related transactions. Digital transformation occurs through the introduction of modern information technology, which leads to increased productivity at all stages of the supply chain in the fuel and energy sector and simplified accounting of transactions. Positive processes are characterized by the convergence of markets, and negative processes are characterized by the fragmentation of energy markets and their isolation at the national level. To solve these problems in the field of accounting, it is necessary to constantly improve ERP systems based on the creation of a unified ecosystem of the fuel and energy sector. The world practice of using Enterprise Resource Planning products in the fuel and energy sector is considered. Based on the trend and structural analysis world oil and gas imports have been investigated to determine the dynamics and geographical structure of the fuel and energy market. The forecast of the dynamics of oil imports is made. The article proposes a functional model of the supply chain in the energy sector based on blockchain technology. The article defines digital technology with a focus on blockchain and artificial intelligence. The process method is used in the formation of an invoice generation model. The advantages of ERP systems are identified and global experience in invoice generation in accounting is summarized. The OpenText Vendor Invoice Management (VIM) software product is characterized, allowing its integration with the SAP ERP invoice accounting and payment system. The main issues of digital transformation in the accounting system, stimulating the improvement of specialists' competencies when working with digital platforms, are identified.
... The first type aims to gauge the scale and magnitude of Chinese involvement in building coal-fired power abroad. For instance, Ueno et al. (2014) and Chen et al. (2016) focus their estimate on Chinese ODF for CFPPs abroad while other scholars (Baruya, 2017;Gopal et al., 2018;Hervé-Mignucci and Wang, 2015;Ren et al., 2017;Umbach and Yu, 2016) quantify the aggregate Chinese investment, including both foreign direct investment (FDI) and ODF, in CFPPs. The second type, such as Bräutigam (2011) and Shimomura and Wang (2018), situates the discussion in a broad context of China's rise as a major player in international development by tracing the origin and characteristics of how the country engages the world on infrastructure development. ...
... This expansion accelerated after the country's incremental growth rate of CFPP capacity addition started to decline and its coal-fired power equipment manufacturing started to exhibit signs of growing excess capacity after 2006. These companies became increasingly active in overseas greenfield FDI, cross-border M&As, and equity investment, especially following the 2007-2008 GFC (Gopal et al., 2018), and gradually extended their participation in the division of labor across the entire value chain of international electric power contracting through four primary contract types: build-own-operate (BOO), build-operate-transfer (BOT), build-own-operate-transfer (BOOT), and EPC (Sun Yucai, 2014). Our analysis in Section 2 shows that the majority of these contractors are national flagship SOEs. ...
This study aims to explain why China has become a new coal champion of the world. From 2006 to 2019, our new data set shows that China has financed 14 percent of the newly installed coal fired power plants across 17 countries around the world. We deploy a ‘push and pull’ analytical model and combine both qualitative and quantitative analysis to examine the political economy of Chinese overseas finance for coal. Our analysis shows that the globalization of Chinese official development finance for coal-fired power is a function of both the pull by the demand from the 17 countries, which have turned to the Chinese policy banks for financial backing to build coal-fired power plants, and the push by the coal-fired power equipment manufacturing sector in China and the central government in Beijing, which have been confronted with a set of structural challenges following the 2007–2008 global financial crisis. Our findings carry some worrisome policy implications for the global effort to reduce CO2 emissions resulting from coal burning in the electric sector. Without changes on the demand side, and a profound re-alignment of forces within China, Chinese development finance for coal-fired power may prove relatively resilient.
... other multilateral ones such as the Paris Agreement [19,[24][25][26][27]. These studies often employ datasets of financial data that, despite being comprehensive and consistent, are often not released and verifiable. ...
This paper contributes to the debate on the sustainability of the Belt and Road Initiative (BRI) by analyzing Chinese investments in Indonesia's coal power sector. Insofar, scholarship on the BRI examined the role of Chinese companies “going out,” neglecting host countries' agency in shaping this initiative. This study analyses this important yet often overlooked dimension through the lens of local stakeholders. Fifteen in-depth interviews provide key insights into themes that are explored using a novel database. Results show a sharp increase in the Chinese-led financing, construction, and investments in Indonesia's coal power plants. While large State-owned enterprises spearheaded this increase, the BRI is also generating an impetus of private investments in new “instrumental” coal power plants that serve industrial parks, owned by non-energy companies. After the Paris Agreement, only Chinese, Japanese, and Malaysian institutions continued to finance coal power plants in Indonesia. However, unlike other foreign investors, Chinese companies are bringing mostly subcritical (low-end) technology, and their operations have been associated with the use of illegal labour. Overall, results show how China's export of industrial capacity and financing through the BRI is met by Indonesia's developmental attitude towards using coal and foreign investments to prioritize its economy growth over environmental and social sustainability.
... Eight of the world's top ten solar energy suppliers are based in China, and the three largest Chinese wind energy companies collectively have the largest share of the wind energy market [5,6]. Moreover, China is the only developing country to rank among the top 10 recipients of net cross-border investment and the top 10 investors, with China being the only emerging market country in the latter category [7]. China set a record for net cross-border investment since 2015, and up to the first half of 2017, the country has invested $ 2.23 billion in wind and solar energy in 11 other developing countries thus attracting domestic investment in these industries from 13 countries for a total of US $ 1.34 billion [8]. ...
Emerging markets are rapidly developing and outperforming developed markets in terms of onshore wind and solar power. Moreover, emerging markets are now getting drivers for the enhancement of global renewable energy as they are seen as territories with the greatest potential for expansion of wind and solar capacities. This study aims to investigate the casual links between financial investments by gas and oil giants and long-term vision around clean energy. We analysed various reports on procurement tools used by corporations, purchasing renewable energy. This gave us an idea about the availability and frequent usage of different instruments employed around world. The empirical results show that state support and policy development both have positive impact on state and private investments in the long run. The influence of energy development is more evident in emerging clean energy markets. The findings of the this study suggest that as renewable energy targets price and performance parity with traditional sources around the world, and is getting able to improve grid efficiency thus strengthening its competitive edge with new technologies, the hurdles to its adoption are disappearing.
... Each subsystem includes both core and peripheral actors ranging from government ministries and departments, development finance institutions, SOEs and private companies. Among these regulatory subsystems, foreign aid and OCC activities are relatively well studied [24,31,47,48,49,50,51] compared to OFDI activities [52,53,54,55]. This is mainly because the majority of Chinese overseas energy activities in Africa are OCC and foreign aid projects. ...
China is playing an ever important role in Africa's energy transition, mainly via its massive investment and loans on various energy infrastructure projects ranging from extractive activities in oil and gas industries, power generation facilities including both traditional and renewable energy sources, and transmission and distribution networks. These activities have generated profound economic, social and environmental impacts to the recipient countries and local communities, which has attracted tremendous academic interests in the past decade. In this critical review, the focus has been given to the power generation sector to understand implications of Chinese activities on African countries’ energy development pathways. Three groups of studies are reviewed in specific, which focusing on the estimation of Chinese activities in the Sub-Sahara region, the governance structure of development finance and overseas energy activities in China, and the economic, social and environmental impacts of Chinese projects. I argue that a new research agenda is needed to further develop a precise estimation regarding the size and trend of Chinese activities in the power generation sector in the SSA region, and to unpack the complex actor network and power relations among Chinese actors and with recipient countries. Future researches should also establish more robust evidence regarding the impacts of Chinese activities on energy sector development, economic growth at national level, and local environmental and social benefits at the local level. A more standardised assessment criteria is also required to evaluate these impacts due to the unique characters of Chinese activities compared to traditional OECD practices.
... These regulatory subsystems function as enclosed and independent policy communities with intense interactions among their members that are often obscure to outsiders. Among these regulatory subsystems, foreign aid and OCC activities are relatively well studied (Bräutigam, 2011a and2011b;Corkin, 2011;Lancaster, 2007;Tan-Mullings et al., 2010;Varrall, 2016;Zhang and Smith, 2017) compared to OFDI activities (Abodohoui et al., 2018;Gopal et al., 2018;Luo et al., 2010;Tan, 2013). This is mainly because the majority of Chinese overseas energy activities in Africa are OCC and foreign aid projects. ...
This paper will review the current debates around China’s involvement in and contribution to Africa’s urgently needed energy transition. It tries to provide an answer regarding the ways in which Chinese government actors, investors, financiers, and project developers are shaping the transition pathways in various SSA countries, and helps to identify issue areas that require further investigation.
... Wei (2018) estimated the 'announced' value of Chinese overseas power investment (those plants in operation or announced as under contract) to be upwards of $150 billion USD using data from the Heritage Foundation and other sources (Heritage Foundation, 2017;Wei, 2018). Gopal et al. (2018) examined Chinese overseas energy investment and found $96 billion USD of Chinese investment in the global electricity generation sector but do not specify the share of each generation technology due to the limitation of the data sources. ...
We analyze the spatial and technological distribution of China's overseas electric power investments around the world, and the pollution intensity of Chinese coal fired power plants relative to those held by non-Chinese entities. We find that Chinese firms hold approximately $115 billion USD in electric power assets globally, with an average of 73% ownership stake in a total capacity of 81 GW. Chinese power investments span the globe but are largely found in developing countries, particularly in Asia and Latin America. The vast majority of Chinese investment goes to coal (24.5 GW), gas (20.5 GW) and hydropower (18.1 GW), while the share of wind (7.2 GW) and solar (3.1 GW) is relatively small but may be rising. The energy mix of Chinese overseas investment is similar to the existing world portfolio. Within the coal sector, between 2011 and 2017, the majority of Chinese greenfield investment in coal used supercritical technologies (58 percent) while only 34 percent of non-Chinese coal plants built during this period were supercritical.
... The security aspect is important in the context of BRI development too (Umbach, 2019), moreover, the importance of energy security for the most dynamically developing countries is even more important in our vision, than for the LDCs. We can't avoid mentioning the articles about the impact of green energy on the BRI and China and other BRI countries (Fan et al., 2018;Gopal et al., 2018;Morris, 2018;Mathews and Tan, 2017;Sun et al., 2016;Yueqin and Yisi, 2012), as this aspect of cooperation under BRI should be considered for every economy individually, and only after that expanded to BRI in general. ...
ABSTRACT
The belt and road initiative (BRI) is a comprehensive megaproject, which includes numerous projects in the sphere of green energy. The effectiveness of these projects is often doubted. The article reveals the main mechanisms of green energy projects’ influence on the economy and through the research of 8 BRI countries demonstrates the method of green energy projects efficiency estimation. China is considered to be the main driver for green energy proliferation in Asia, receiving economic benefits through its policy. The authors prove this to be right, but the effects for PRC differ in short and long-run periods. The main findings of the paper are that the BRI green energy dissemination is just the first step to building a tightly interconnected Asian energy infrastructure, and that the BRI least developed countries have less positive long-run effects from green energy investment, while in short-term they get a boost for their economies.
Keywords: Belt and Road Initiative, Green Energy, Energy, Asian Region, China
... Generally, the relatively rapid and almost simultaneous emergence of India and China as major players in the global energy scene has raised questions about whether adjustments to the existing international energy system are needed and whether new institutions for energy and environmental security will evolve (Tripahi et al. 2016;or Gopal et al. 2018). It is in the collective interest of all nations that India and China become full members of the international energy community and are responsible stakeholders who are responding to their growing importance to the global energy markets. ...
