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New UserAsia loses its appetite for coal
29 Mar 2016
Asia, the world’s biggest coal market by far, is showing signs of turning its back on what is the most polluting of fuels, shelving or cancelling a large number of coal-fired power plant construction projects.
Four Asian countries – China, India, Indonesia and Vietnam – together account for about 75 per cent of an estimated 2,457 coal-fired power stations at present planned or under construction around the world.
A study published by the Energy & Climate Intelligence Unit (ECIU), a UK-based non-profit organisation, says a combination of factors – including slowing economic growth and a rapid growth in renewables – means that a large percentage of these plants will never be built.
That’s good news for people living in cities such as New Delhi and Beijing, where coal-burning power plants are major contributors to health-threatening levels of air pollution.
It’s also good news for the planet: the burning of coal accounts for nearly 50 per cent of global energy-related carbon emissions and is a main driver of climate change.
The ECIU says that in both India and China existing coal-fired power plants are under-utilised. In China – at present the world’s biggest coal producer and consumer – a faltering economy, over-optimistic projections of electricity demand and rapidly falling costs for renewable power are among the factors slowing coal demand.
Scaleback likely
In India, the world’s second biggest coal consumer, severe infrastructure problems are one factor hampering full use of existing coal plants.
The argument that there is no point in Western nations decarbonising because their emission cuts will be dwarfed by emission gains from Asia is based on shaky ground.
In both countries, says the study, this may make new plants progressively less profitable, and less attractive to investors. Also, both countries are “massivelyexpanding” renewable and nuclear generation.
Though both Vietnam and Indonesia have ambitious coal plant construction plans, the ECIU says these are likely to be scaled back in the years ahead.
Source: Eco Business