https://www.engineeringnews.co.za

Global coal power falls for first time even as China builds more

The Asheville power plant, in North Carolina, US.

The Asheville power plant, in North Carolina, US.

3rd August 2020

By: Bloomberg

  

Font size: - +

Global coal-fired power capacity edged down for the first time on record in the first half of 2020 as retirements accelerated and the coronavirus saw new projects put on hold.

The closing of plants, especially in Europe and the US, outpaced the start of new units, more than 60% of which were in China, according to a report by Global Energy Monitor. The net decline of 2.9 GW may be small, at just over 0.1% of the world’s coal generation capacity, but marks a turning point in the burning of the dirtiest fossil fuel to produce electricity.

“The Covid pandemic has paused coal plant development around the world and offers a unique opportunity for countries to reassess their future energy plans and choose the cost-optimal path, which is to replace coal power with clean energy,” said Christine Shearer, program director for coal at Global Energy Monitor.

As developed economies in Europe and North America increasingly shift toward cleaner energy sources, mining companies are looking to fast-growing Asian countries to shore up demand for the heavy polluting fossil fuel. Still, world coal demand is set for its biggest annual drop since World War II as economic activity plunges due to coronavirus lockdowns, the International Energy Agency said in April.

The pace of new construction in Asia is slowing, with countries including Bangladesh and Vietnam considering restricting or deferring new coal plants, according to Global Energy Monitor, which gathers information from public sources, such as media articles, and non-government agencies.

China’s coal power expansion would exacerbate overcapacity, according to the report, which cited a study from the University of Maryland that projected the average utilization rate for the country’s coal plants could drop to 45% by 2025.

The United Nations has called for a moratorium on new coal plant builds by 2020 to help meet Paris climate agreement targets, yet there is still around 190 GW of capacity under construction worldwide, according to GEM.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 
The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.064 1.247s - 140pq - 2rq
Subscribe Now