To stimulate the economies in the wake of the coronavirus pandemic, China and other countries could be planning to build more coal plants. However, research showed nearly 50 percent of global coal plants will run at a loss this year.
Accounting for about 60 percent of China’s total installed generation capacity, over 1,000 gigawatts of coal-fired power belongs to the country. Around 100 gigawatts are still under construction.
The profitability of 95 percent of coal plants in operation or planned around the world analysed by London-based environmental think tank Carbon Tracker. It found that 46 percent of the coal plants will be unprofitable this year, up from 41 percent in 2019. As renewables and cheaper gas outcompete coal, the amount will rise to 52 percent by 2030.
To limit global warming, global coal use in electricity generation must fall by 80 percent below 2010 levels by 2030, according to the UN’s Intergovernmental Panel on Climate Change.
To stimulate the economy, more coal plants will be built by China following the announcement from the National Energy Administration telling it was ready to relax rules on coal power investment. About half the world’s coal produced and consumed by the country.
