Nagpur: Asian countries are responsible for 80% of new coal power plans planned in the world, with India to become the second largest producer of coal power with around 250 gigawatts (GW) operating capacity and 60 gw in pipeline.
This was revealed in the latest report ‘Do not revive the coal’ released by the financial tracker of the Financial Think-Tank on Tuesday.
According to reports, China, India, Indonesia, Japan and Vietnam plan to build more than 600 new units with a combined capacity of more than 300GW, ignore the call from the Secretary General of the UN Antoners for all new coal plants to be canceled.
This planned unit, 92% of them will be not economical, even under normal business, and up to $ 150 billion can be wasted in vain, the report is stated.
The report states that in India, new renewable energy can produce energy at a lower cost of 84% of coal operations and will be outcompete in 2024.
“It has a 450 GW of renewable energy in 2030 – more than five times 2020 its capacity will be Meet 60% of energy demand, “said the report.
The next analysis highlights that at the company level, only ten companies are taken into account by about 40% of the risk of stranding, the NTPC and Adani Group in India, and PLN in Indonesia so far is “open”.
“Of the ten most open companies, seven were cut into pieces in India,” the researchers said.
The same five Asian countries also operate nearly three quarters of the current global coal fleet, with 55% in China and 12% in India and 12% in India.
The report warns that around 27% of existing capacity is not profitable and 30% are almost damaged, producing nominal profit no more than $ 5 per MWH.
Throughout the world, $ 220 billion in operating coal plants is considered at risk stranded if the world meets the Paris climate target.
States that around 80% of the global coal fleets operating can be replaced with new renewable energy with direct cost savings, the report is added, “In 2024, new renewable energy would be cheaper than coal in each major area, and 2026 almost 100% capacity Global coal will be more expensive than building and operating new renewable energy.
“The head of the power and utility of the carbon tracker, Catharina Hillenbrand Von Der Neyen said,” The last fortress of this coal power swim against the tide, when renewable energy offers cheaper.
Support the global climate target.
Investors must avoid new coal projects, many of which tend to produce a negative return from the beginning.
“In short – 5 Asian countries are responsible for 80% of the new coal plants of the world – China, India, Indonesia, Japan and Vietnam Plan more than 600 new units with combined capacity More than 300GW- India the second largest coal producer – has around 250 gw operating capacity, 60 gw pipes – between the 10 top companies most exposed to the risk of the uploaded assets, 7 comes from India