FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):The newly formed RWE AG will mainly invest the billions it plans to spend annually on renewables outside of its home market of Germany after its asset swap with rival E.ON SE and subsidiary Innogy SE is completed later this year, the company’s chief executive said.“You look where you earn the most money. At the moment, that is certainly not Germany,” Rolf Martin Schmitz, who has led the company since 2016, told an audience at the E-world power industry conference in Essen, Germany, on Feb. 4. “We will continue to invest globally.”Under a €40 billion asset swap announced last year, RWE is set to become the third-largest renewable energy generator in Europe and second-largest player in the offshore wind sector by taking over all the renewables assets of E.ON and Innogy. In its new incarnation, the company plans to spend €1.5 billion per year to grow its portfolio by between 2 GW and 3 GW of new wind and solar photovoltaic capacity.But Germany, where RWE operates the largest fleet of coal-fired power plants, won’t receive a majority of the planned investments, according to Schmitz. “There is just no space or market for it,” he said.Although solar PV additions totaled approximately 3 GW in Germany last year, the onshore wind sector has collapsed around the introduction of competitive auctions and a slowdown in approvals. The most recent tender in October 2018 saw prices tick up as interest from developers waned, although the government has also introduced special auctions for 8 GW of extra renewables capacity to be tendered between 2019 and 2021.More ($): RWE renewables focus will lie outside Germany after asset swap, CEO says Germany’s RWE has global plans for renewable energy business
Kevin Hayes and his family have bought affordably in Bulimba. Photo: Claudia BaxterOne magic number proves it’s not just millionaires buying in Brisbane’s expensive suburbs.You might think it takes impossibly deep pockets to become a homeowner in our most desirable addresses, but the numbers prove that’s not true.Our 20 most expensive suburbs have median house prices ranging from $950,000 to $1.85 million, but not every house is the same. Cheaper homes are on offer, too. It’s time to consider a measure called the lower quartile.Put simply, if there have been 100 sales in a suburb, ranked from least to most expensive, the median price would be the 50th sale, but the lower quartile shows the price of the 25th sale – or ‘the median of the lower half’. Source: CoreLogic“It gives a better idea of what the entry point into that market is going to be, rather than that middle of the pricing range,” said Corelogic RP Data head of research Tim Lawless. “Often the lower quartile (price) can be more than 50 per cent lower than the actual median price, particularly when a suburb has a really diverse range of housing.”Mr Lawless said it was useful for drilling down into the detail of markets.“Look at the buy-in price of Hamilton, based on the median of $1.3 million, but there’s still 25 per cent of properties that have sold for a price tag of about $860,000 or less,” he said. “I think a lot of people will be looking at the numbers and saying, ‘Well, maybe buying a detached house in Hamilton isn’t quite as unachievable as I thought.’”More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor7 hours agoMr Lawless said smart investors used the measure to spot opportunities. “In some way, the lower quartile is a good reference point for the worst house in the best street,” he said.Place Bulimba marketing agent Shannon Harvey agreed the lower quartile measure should be part of most buyer analysis.“A lot of people are forgetting that properties will come up that they actually can afford,” she said.Ms Harvey said buyers needed to do the research, get prepared and be ready to strike when a low-priced opportunity presented itself.“Typically, it would be unpresented – the garden needs work, it might need a paint, there might be some maintenance issues, it could be a tenanted property where they’ve got a 12-month wait to get into the home,” she said. “It’s something that’s not perfect, but if you can compromise a little bit you’ve got a reward there.”Kevin Hayes and wife Kate used the approach when buying in Bulimba.Mr Hayes said the couple were looking on-and-off for five years before the imminent arrival of their second child compelled them to act.“We were trying to find something that was ‘move in ready’ – something we could easily move into but had potential to get our hands dirty down the track to do some improvements.”Their three-bedroom cottage on 400sq m within a short stroll of the Oxford St cafe strip was perfect. They bought in August 2016 for $811,500 – more than 30 per cent below the suburb’s median house price. Mr Hayes said buyers keen on low-price real estate needed to become area experts. “Do lots of research, keep your eye on the internet, have a good understanding of where you want to be and be prepared to roll your sleeves up and get a bit dirty when you move into your new property,” he said. “Don’t try and buy the forever house straight away if you’re looking to do what we’ve done.”
Danish pensions administrator PKA is investing DKK415m (€55.8m) in green bonds and expects to put more money into the instruments as it works to integrate climate considerations into all of its asset classes.PKA, which manages around DKK200bn on behalf of three labour-market pension funds, said it bought the green bonds from Germany’s development bank Kreditanstalt für Wiederaufbau (KfW) and from the European Investment Bank (EIB).Of the total investment, DKK265m has gone into the KfW bonds, which are guaranteed by the German state, have a maturity of five years and are expected to yield 1.65% a year.The remaining DKK150m has been invested in green bonds issued by the EIB, which are guaranteed by the EU, run for 10 years and have an expected annual return of 2.15%. The money raised through the bond issues by both institutions is used to finance projects within the areas of sustainable energy and increased energy efficiency.Peter Damgaard Jensen, managing director at PKA, said: “We expect to invest in more green bonds as an instrument to meet the global need for investments in sustainable energy and increased energy efficiency.”PKA wanted to integrate climate considerations into all of its asset classes, he said, adding that green bonds were an investment area the provider had long been interested in.“The projects that are included are areas that PKA already invests in significantly, so green bonds are an extension of our strategy of raising our investment in sustainable energy,” he said.The pensions administrator said it now had DKK13bn invested in CO2-reducing projects.PKA noted that UN Secretary General Ban Ki-moon recently called on pension funds to invest in climate-friendly sustainable energy.