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Simon Nicholas
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
Renewables Now: Singapore-based solar developer and operator Sunseap Group Pte Ltd is proposing to build a giant 2.2-GWp floating solar complex with battery storage on Indonesia’s Batam Island. The Singaporean firm said on Wednesday it has signed a memorandum of understanding (MoU) with Batam Indonesia free zone authority Badan Pengusahaan Batam (BP Batam), outlining an […]
IEEFA
PV Tech: Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie. The research firm said ambitious solar targets mean China will add 619GW of PV by the end of the decade, by which time it […]
IEEFA
Arab News: ACWA Power, the utility developer backed by Saudi Arabia’s Public Investment Fund (PIF), is planning to invest $16 billion in new projects around the world in 2021, ahead of plans for an initial public offering (IPO). Early last year, CEO Paddy Padmanathan said the company planned to invest $10 billion in new projects […]
IEEFA
Nikkei Asia: Thailand’s biggest coal producer, Banpu, will no longer start any new coal developments as the company pivots toward green energy, company CEO Somruedee Chaimongkol said in an interview. “We will only produce from our organic reserve that we have,” said Somruedee. “We have no plan to invest more in the coal mine assets.” […]
IEEFA
Renew Economy: Australia has been ranked dead last for climate action in the latest Sustainable Development Report, which assesses the progress of countries towards achieving the Sustainable Development Goals. In the latest edition of the report, produced by the UN-backed Sustainable Development Solutions Network, Australia received the lowest score awarded to any of the 193 […]
Elrika Hamdi, Putra Adhiguna and Press Release
Indonesia on the right emissions reduction pathway but same old coal stories persist
25 June (IEEFA Indonesia): Recent announcements by Indonesia’s state-owned utility company Perusahaan Listrik Negara (PLN) to achieve carbon neutrality by 2060 must be met with caution and scrutinized as the numbers don’t stack up, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report’s authors IEEFA energy finance […]
IEEFA
Wall Street Journal ($): Coal prices have climbed to their highest level in a decade, making the fuel a hot commodity in a year when governments are pledging reductions in carbon emissions. A shortfall of natural gas, rebounding electricity usage and scanty rainfall in China have lifted demand for thermal coal. Supplies have been crimped […]
IEEFA
Nikkei Asia ($): Mitsui & Co. will sell off its entire interest in an operator of Indonesian coal-fired power plants, the Japanese trading house said Tuesday, part of efforts to shrink the carbon footprint in the company’s portfolio. Mitsui agreed to sell its 45.5% stake in Paiton Energy to RH International (Singapore), a subsidiary of […]
IEEFA
Nikkei Asia: Banpu, Thailand’s largest coal company, has moved to acquire two solar farms in Australia as it seeks to boost capacity in this field of renewable energy roughly sixfold by 2025. Banpu announced Tuesday the 97.5 million Australian dollar ($75.4 million) purchase of the power stations with a combined capacity of 166 megawatts from […]
IEEFA Indonesia: Switching coal plants to PLN’s biomass cofiring plan is no magic bullet
Implementation risks for Indonesia PLN's switch from coal to biomass cofiringPLN’s biomass cofiring plan will require nothing less than the creation of a large-scale biomass industry. 8 February 2021 (IEEFA Indonesia): Important questions must be answered concerning the economic viability, feedstock supply stability and technical challenges associated with extending the life of Indonesia’s coal plants using cofiring, according to a new report from the Institute […]