Author Archive: Simon Nicholas

Energy Finance Analyst Simon Nicholas, a fellow of the Institute of Chartered Accountants of England and Wales. Nicholas joined the IEEFA team in July 2016, after 16 years’ experience within the finance industry at ABN Amro, Macquarie Group and Commonwealth Bank of Australia in both Sydney and London.

IEEFA: China is supporting over 50% of coal power development in largest remaining project pipelines

As finance shifts from coal, China is looking isolated as the last enabler of coal-fired power overseas

A review of coal power proposals in countries with large remaining project pipelines indicates that 56% of the total capacity of these proposals is being supported by China. Historically just one of the major providers of finance to overseas coal power projects, China has more recently looked increasingly isolated as other nations and financial institutions […]

IEEFA: Bangladesh making progress on scrapping coal but LNG is not a wise replacement

Decade-long coal-fired plant binge slows as government considers gas alternatives

Bangladesh has been faced with the prospect of a major rollout of coal-fired power plants for over a decade. The Bangladesh government’s focus on coal-fired power began with the 2010 Power System Master Plan, and was then reinforced by the 2016 version. Several of these plants are now under construction. For many years since, people […]

IEEFA: Pakistan’s new long-term power plan – one step forward, two steps back

Over reliance on hydro whilst slashing wind and solar increases risk of missing the 60% clean energy target

Pakistan has released a new version of its long term power plan – the Indicative Generation Capacity Expansion Plan (IGCEP) for 2021. IEEFA highlighted some issues with the 2020 version in September last year. The new iteration of the IGCEP – prepared by the National Transmission and Despatch Company (NTDC) – states on page 1 […]

IEEFA: Japan still seeking to exploit coal power loopholes

JBIC wants to continue burdening developing nations with its expensive coal-fired power technology

Japan is continuing to push its expensive coal-fired power technology on developing nations if such projects feature carbon capture and storage (CCS) or if a proportion of ammonia or biomass is co-fired with the coal. The Japan Bank for International Cooperation’s (JBIC) announcement comes only a few months after it was reported that the state-owned […]

IEEFA Australia: NSW Government accepts that thermal coal is set for major decline

A moratorium on new thermal coal mining capacity is needed to avoid chaotic employment impacts

The New South Wales (NSW) Treasury has concluded in a technical paper for the 2021 NSW Intergenerational Report that “global demand for coal is expected to weaken considerably”. The report further notes that “Declining global demand for coal will reduce New South Wales’ economic growth over the projection period and will have impacts both on […]

IEEFA: Pakistan is planning to end coal imports, worsening outlook for South African coal

The growing and irreversible risks being faced by South African coal exporters

As Thungela Resources’ CEO attempts to talk up the future of the Anglo American coal spin-off, South Africa’s second largest coal export destination Pakistan is planning to bring coal imports to an end. Thungela CEO July Ndlovu recently stated that a “just transition” for developing nations requires the continued operation of existing coal-fired power plants […]

IEEFA: New power and energy master plan must be designed in Bangladesh’s best interests, not Japan’s

JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant

24 May 2021 (IEEFA Bangladesh): Clear understandings from the Bangladesh government’s recently released 8th Five-Year Plan must be incorporated into the new energy and power master plan currently under development by the Japan International Cooperation Agency (JICA) to drive zero carbon transformation and financial sustainability in the energy system, finds a new report from the […]

IEEFA Pakistan: Coal gasification and liquefaction harmful to economy

There is no second life for coal

6 May 2021 (IEEFA Pakistan): Pakistan’s intention to use coal for power production through gasification and liquefaction technologies is likely to cause harmful economic impacts and a subsequent increased reliance on fossil fuels in Pakistan, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Pakistan’s intention to explore a second […]

IEEFA: Fossil fuel pressure and risks mounting for multilateral development banks

Further reliance on coal and LNG will lead to ever larger and unsustainable fossil fuel subsidies

“Gas is over”, proclaimed chief of the European Investment Bank (EIB), Werner Hoyer, at the beginning of this year as he stated clearly the bank’s vision for an end to unabated use of fossil fuels. European officials have since also called for the World Bank to phase out lending for gas projects globally in addition […]

April 19, 2021 Read More →

IEEFA: Bangladesh needs a renewables focus, not a switch from ‘coal to gas’

Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations

The emerging markets of Bangladesh and Vietnam are alluring for foreign energy companies looking to make money in the region. But these nations stand to lose both economically and environmentally through a pivot from coal to gas. Such a switch risks hindering investment into renewable energy and derailing climate progress across the continent. In Bangladesh, […]

April 13, 2021 Read More →