Renewable energy investing has been a booming business for the past five years with significant swathes of wind and solar generators now competing head on with heavyweight incumbents across the globe. We expect this trend to continue, however, the withdrawal of subsidies has prompted a change in investment style and direction to maintain attractive risk-adjusted […]
The Capacity Market (“CM”) auction and all payments due under the mechanism have been frozen following a ruling by the European Court of Justice (“ECJ”) revoking State Aid clearance. The implications for existing and new build projects relying on Capacity Market payments is significant and undermines a multitude of investment decisions made across the UK […]
I promised in my last blog (Decoding the Russian enigma) a further post dealing with my expectations for the Russian property markets. I have also been considering giving my thoughts on what to expect in general terms (i.e. they cannot be held against me in specific valuations!) for 2018 year end valuations. We are approaching […]
Russia seems to be hewing ever closer to Churchill’s aphorism: as a riddle, wrapped in a mystery, inside an enigma. It is increasingly difficult to predict what may happen next. A mixture of outside events and curious self-defeating actions, at least from an external perspective, have effects that are extremely uncertain. It may seem then […]
A European success story: the globalisation of offshore wind Dominic Szanto, Director and Head of Offshore Wind, JLL Energy and Infrastructure Although the first offshore wind farm was constructed in 1991, it has taken over twenty years for the industry to truly mature. By the end of 2017, there were over 18 gigawatts of wind […]
Russia’s nascent economic recovery from the 2014-2016 recession and recent stabilisation have been disrupted by fresh US sanctions. The April round has shifted the USD/RUB exchange rate by about 7% weaker, to c.62. The combined impact of the draft bill introduced by a number of US Senators led by Lindsey Graham on 1 August and […]
The US continues to impose new sanctions on Russia to threaten additional ones. A bill introduced last week by US Senator Linsey Graham includes a ban on new Russian sovereign debt purchases by US individuals and banks and on Russian state banks. This week, the US has imposed a new set of sanctions against Russia […]
A short commentary on Russian Property Valuations
It is like 2014 all over again… I have written three draft opinions in recent days – only for them to be overtaken by events. In the deluge of news and volatility I have but one message: DON’T PANIC I believe markets have overshot and will correct. We are already seeing the Russian stock market […]
Digital technologies are everywhere around us. Using the Internet we read the news, check emails and update our calendars, review social networks and news feeds, and communicate with people via instant messengers. We visit banking branches less frequently, as we pay bills either online or through mobile applications. We order food and make purchases online. […]
The global economy went through another round of central bank policy meetings. The US Federal Reserve (Fed) expectedly hiked its policy rate by 25bp to 1.5-1.75%, the European Central Bank (ECB) and the Bank of England (BoE) stayed on hold, while the Bank of Russia (CBR) cut its key rate, also by 25bp, to 7.25%. […]
The Bank of Russia (CBR) has just announced the Board decision to cut its key rate by 25bp, from 7.75% to 7.50%. The move was broadly anticipated, although following the January inflation print, some market analysts had called for a 50bp rate cut. Inflation dropped to a new historical low of 2.2% YoY in January […]
(These are my personal views, and may not necessarily be the same as the JLL house view) As we gather pace into 2018 after the holiday period I thought that it would be useful to identify what I expect to be the key trends in 2018 – both for the Russian Economy as a whole […]
Office environments are changing – the way they look and how they are managed. Many organisations have long understood and appreciated the power of workplace in driving productivity, employee loyalty, and brand value. Workplace has become a critical component of what an organisation can offer to its current and prospective employees, shaping attitudes to work […]
Today Theresa May has triggered Article 50, slightly ahead of schedule. This is more than even the most enthusiastic Leaver could have hoped for at the start of the year. But as our recent report highlights, unusually smooth progress in these early stages is no guarantee of plain sailing ahead. UK road is clearer, but […]
Knowledge of the blockchain was once restricted to a select few members of IT crowd. Whilst the technicalities of the blockchain still remain a mystery to many, there is growing awareness of its implications. Industries of all types, from financial services to manufacturers, from retailers to healthcare, are waking up to its disruption potential. […]