Sri Lanka vows to push on with LNG imports even as gas surges
Sri Lanka will forge ahead with plans to import liquefied natural gas (LNG) in the next few years, even as a global supply crunch sends prices of the fuel soaring.
coal
China to stop building new coal-fired power projects abroad
China plans to stop building new coal-fired power plants in other nations, threatening to end one of the last sources of international funding for the dirtiest fossil fuel.
Solar needs to dethrone coal to meet Indonesia goals, study says
Solar power holds the key to meeting renewable energy targets for Indonesia, but the fast-growing Southeast Asian economy needs significant reforms to steer it away from an over-reliance on coal, according to a report.
Woodside bags BHP oil and gas business at discount in dream deal
A strategic merger between BHP and Woodside has been on the deal dream list in oil and gas circles going back three decades. Yesterday the pair confirmed that they will enter into a merger of their respective oil and gas portfolios in an all-stock deal that creates an LNG powerhouse.
Fossil fuels giant Reliance will invest $10bn in Indian renewable energy
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
Majority of new renewables undercut cheapest fossil fuel on cost, report shows
Renewables continues to trump fossil fuels on costs, with the majority of new developments now producing cheaper energy.
South Korea seeks bids for large-scale solar to meet 2030 target
South Korea will launch its largest-ever solar photovoltaic (PV) tender in July when it will offer 2 GW of capacity. An extra 2GW could also be offered later this year.
Total signs LNG supply deal as India seeks to decarbonise steel industry
Total and ArcelorMittal Nippon Steel (AMNS) have signed a deal for the supply of up to 500,000 tons of liquefied natural gas (LNG) per year until 2026.
Coal set to dominate Indonesia power mix in 2030 as renewables lag
Despite major global economies moving away from coal to curb carbon emissions, coal is set to maintain its dominance in Indonesia’s power mix during 2021-30, as a decisive renewable energy policy remains absent.
Cop26 is ‘last hope’ for goals
Cop26 must consign coal power to history, signal the end of polluting vehicles and call time on deforestation, the president of the climate summit has urged.
Asian Development Bank to end coal, oil and gas financing
The Asian Development Bank (ADB) will no longer finance new coal-fired power capacity, as well as oil and gas exploration and production, it announced in a draft policy statement on Friday.
Renewables project pipeline accelerates in Asia Pacific
Renewables now make up 37% of all power generation projects under construction in Asia, representing a 4% increase in share from the previous quarter, according to the latest IHS Markit Renewable Additions Index (RAI) for Asia Pacific. Although coal power projects remain strong despite climate pressure.
Gas is the new coal with risk of $100 billion in stranded assets
Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell.
Energy transition must be equitable for Africa
Tackling Africa’s energy access problems requires those involved to think of the entire system, rather than focusing simply on renewables.
Philippines needs to push nuclear power
The Philippines need to pursue nuclear power to improve its long-term energy security and slash carbon emissions from its highly polluting coal-fired power fleet.
Japanese trading houses accelerate coal exit
Sojitz, a major Japanese trading house, has announced it will accelerate its exit from thermal coal by halving its investments in projects by 2025 and eliminating them entirely by 2030.
China’s new green target still means pumping too much pollution
China’s first road map to achieving net zero emissions by 2060 may be too slow to stop the world’s biggest polluter from hastening global warming.
Energy sector at risk from U.S.-China flashpoints
The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Coal use set to surge in India despite renewables boom
Coal-fired power generation is projected to surge in India as the expanding wave of renewable energy capacity cannot keep up with electrification growth in the South Asian country, home to the world’s second biggest population.
Australia, Japan and Vietnam lead renewable energy shift in Asia Pacific
Australia, Japan and Vietnam are leading the shift to renewable energy in Asia Pacific, according to the latest research from IHS Markit. Significantly, coal and gas power plants are also being built at a brisk pace as part of the energy mix across the region.
Australia’s $26bn renewable power opportunity
Australia could offer a $26 billion renewable power generation investment opportunity this decade if the government can implement an ambitious long-term Renewable Energy Target (RET) to reverse a slowdown in wind and solar spending.
Africa to miss low-carbon opportunity
Africa will not increase electricity access and limit carbon emissions, a new study has reported, undermining hopes for a potential “leapfrog” effect.
Visits by coal and cargo vessels to Peterhead ‘opens up new markets’
NorSea UK has said visits by grain and coal cargo ships to its quayside facilities in Peterhead reflect important new markets opening up after a multi-million-pound investment in diversification.
UK power grid heads for greenest year as renewables grow
The UK power generation industry is headed for its greenest year yet as more capacity for renewables is added and coal plants are needed less often.
ICBC drops Lamu coal plans
The Industrial and Commercial Bank of China (ICBC) has opted to halt its proposed financing of a 1,050 MW coal power plant in Kenya’s Lamu County.