Vast majority of new coal-power plants ‘uneconomic. The vast majority of the new coal-fired power plants planned will struggle to recoup their advance costs, including all those being built in China, according to a new report by an independent think tank. It is estimated that 92 percent of the facilities proposed or under construction worldwide would cost more to build than the future cash flow they would generate, according to research by Carbon Tracker, even under a “business as usual” scenario where countries lower carbon emissions implement restrictions and miss Paris climate agreement targets. China is the leader in the field with plans to add 187GW of coal power capacity to the existing supply of more than 1000GW. India follows with 60GW in the pipeline, compared to the current capacity of 248GW. Indonesia, Vietnam and Japan make up the rest of the five Asian countries that, according to the report, account for 80 percent of the world’s planned new coal plants. Together they will build more than 620 new units with a capacity of more than 300 GW.
FT 30th June 2021 read more »