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Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to put an end to the financing of overseas projects, new research showed on Wednesday.
Excluding China and India’s domestic coal power programmes, there are now just 28 new coal-fired plants being planned across Asia, less than 30% of which have secured finance, the Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM) think tanks said in a joint report.
“Once the final bastion of coal power, Asia’s coal power sector has witnessed wave after wave of coal power plant cancellations,” said GEM’s Russell Gray. “China’s pledge to stop financing coal power plants overseas will trigger one more wave.”
The report said nearly all of Bangladesh and Sri Lanka’s planned coal-fired power plants now face cancellation, as well as 65% of Indonesia’s.
However, there are still about 43 GW of projects already under construction throughout Asia, the report estimated.
Chinese President Xi Jinping pledged to end China’s support for new overseas coal power plants during his video address to the United Nations General Assembly in September. The move meant that 99% of global development financing was now committed to the transition to clean energy.
According to the Boston University Global Development Policy Center, if all the China-financed overseas coal plants now under construction or being planned were cancelled, 646 million tonnes of annual CO2 emissions could be avoided, more than the total annual footprint of Canada.
As COP26 climate talks continue in Glasgow, China’s coal industry plans have come under increasing scrutiny.
China, the world’s biggest producer of greenhouse gases, has promised to switch to lower-carbon forms of energy, but it will only start to cut total coal consumption from 2026.
Source: Reuters
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Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
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- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
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- IEA Clean Coal Centre - UK
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