by Eric Ng and Yujie Xue | Oct 22, 2022| Published by South China Morning Post | READ THE STORY HERE
Beijing’s pledge a year ago has put a ‘significant dent’ in planned coal-fired projects overseas, says a climate report
Greater support is needed to get low-emission projects up and running to replace the cancelled coal projects, analysts say
China must do more to redirect resources towards renewable energy projects, even if it has contributed to the world’s efforts to fight climate change by cancelling new coal power projects overseas, analysts said.
Beijing’s pledge a year ago has put a “significant dent” in planned coal-fired projects overseas, according to the Centre for Research on Energy and Clean Air (CREA) and Manila-based environmental policy group, People of Asia for Climate Solutions (PACS).
The cancellations since the ban was announced add up to 22 gigawatts, about a fifth of the capacity of the 104 coal-fired plants either planned or under construction in 26 countries with China’s involvement, according to a joint research report last month. Beijing’s role in those power stations ranges from financing and procurement to engineering and construction.
But greater support is needed to get low-emission projects up and running to replace the cancelled coal projects and meet fast-growing energy demand in developing nations, analysts said.
Some 24GW of the coal-fired capacity involving China is in the advanced stages of construction, mainly in Indonesia, India, Pakistan and Vietnam, while 7.6GW have been completed and commissioned.
Another 17GW has been given the green light or been financed but construction has yet to start, meaning contracts could be renegotiated for conversion to renewable projects.
Illustration by Perry Tse/ SCMP