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Reuters: South32 Ltd will provide up to $250 million in funds to smooth the sale of its South African energy coal business to mining group Seriti Resources, the company said on Thursday. South32 will pay $200 million across a decade to partly fund costs of the environmental clean up of the mines of its South […]
IEEFA
Reuters: Methane leaks from planned coal mines around the world could have a bigger climate impact than carbon emissions from U.S. coal plants, a research group said on Thursday, detailing what it said was an overlooked source of planet-warming emissions. Despite efforts by governments to crack down on fossil fuels, nonprofit Global Energy Monitor said […]
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PV Tech: The South African government has launched its latest renewables procurement round under its Renewable Energy IPP Procurement Programme (REIPPPP), which is to procure 1GW of solar PV. Launched today (19 March 2021), the tender represents Bid Window 5 of the country’s REIPPPP, which will allow bids to be submitted by 4 August 2021. […]
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Thomson Reuters Foundation: Wind could power Africa’s energy demands 250 times over and create jobs lost in the move away from fossil fuels but the continent has only tapped into 0.01% of its potential, wind experts said on Thursday. Wind projects are growing fast, with 724MW of new capacity added in 2020, bringing the total […]
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Reuters: South African coal company Exxaro Resources will not invest in new thermal coal assets, Chief Executive Mxolisi Mgojo said on Tuesday. Exxaro, which exports coal as well as supplying it for domestic power generation, said the company would continue to supply thermal coal to state-owned power utility Eskom’s Medupi and Matimba power stations through […]
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Reuters: South Africa plans to launch three procurement rounds for 6,800 megawatts (MW) of renewable energy over the next year, as well as a combined 5,000 MW of new coal, gas and storage, a presentation by the governing African National Congress (ANC) showed. Africa’s most industrialised nation is heavily dependent on coal-fired power but plans […]
Guest Commentary: Gireesh Shrimali and Guest Commentary: Abhinav Jindal
An economic proposition for coal dominant developing countries
Worldwide, coal plants are grappling with environmental issues and low capacity utilization levels. They have not only become unprofitable to utilities, they are also uneconomical to customers. While retiring end-of-life coal plants can overall be very beneficial, and indeed necessary as finance continues to exit the fossil fuel sector driven by the global energy transition, […]
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Reuters: Anglo American will divest from its South African and Colombian thermal coal operations by mid-2023, the miner said on Friday as it sought to demonstrate to investors its commitment to a shift towards clean energy sources. The global miner said a de-merger and listing on the Johannesburg Stock Exchange was the most likely route […]
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S&P Global Market Intelligence ($): Amazon.com Inc. signed contracts to purchase power from 26 renewable energy projects on four continents totaling 3.4 GW, as part of its target to achieve net-zero carbon emissions by 2040. The wind and solar projects are located in Australia, France, Germany, Italy, South Africa, Sweden, the U.K. and the U.S. […]
IEEFA
Reuters: South Africa’s Standard Bank will not fund any new coal-fired power plant projects, but will continue to provide finance to thermal coal mining projects and companies if they meet certain criteria, it said on Thursday. Climate activists have been pressuring Standard Bank – Africa’s largest bank by assets – to curb its lending to […]
IEEFA Japan: ¥26 billion loss on Australian coal power plant raises questions for Sumitomo and its investors
Sumitomo’s coal policies are lagging its trading house peers and the Japanese government23 November 2020 (IEEFA Japan): As the government of Japan’s energy policy shifts significantly and Japanese trading houses exit coal projects overseas, Sumitomo Corporation continues to develop coal power projects and has seen its thermal coal output grow according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report, […]