TĐH: Vietnam is No. 1 coal-plant finance recipient.
Despite countless warnings and mounting economic evidence to the contrary, countries continue to expand the number of new coal-fired power plants, a push which is currently being led by China, Japan, and South Korea, according to the latest figures from CoalSwarm released last week.
Dangerously, even as these three countries seek to transition their own economies away from coal-fired power and towards large-scale renewable energy sources — sources such as solar and offshore and onshore wind — they are also providing significant funding for overseas coal plants in developing nations.
Specifically, China’s public financial institutions have financed at least 26 gigawatts (GW) worth of coal plants overseas and may finance at least 42 GW in the future; Japan’s public financial institutions have financed at least 19 GW and might finance at least 11 GW more; while South Korea has financed at least 8 GW and might finance 9 GW more. Continue reading “China, Japan, & South Korea Lead Global Push To Expand Coal Plants”
Coal is now more expensive than renewable energy – and while this is good news for the climate, it’s bad news for developing countries who have invested in coal. Renato Redentor Constantino looks at how Japan and Korea are divesting, and the IMF’s opinion on stranded assets.
Countries in Southeast Asia who have invested in coal are finding themselves high and dry.
Because of competition from renewable energy, the Philippines is facing at least $21 billion in stranded coal plant assets, representing all new proposals in the pipeline. The figure represents over a fourth of the country’s national budget.
In Indonesia, 133 trillion Indonesian Rupiah is projected to be spent in 2021 to subsidize its thermal coal sector expansion, but the allocation can only delay, not prevent, what is taking place globally. Continue reading “Coal assets stranded in Southeast Asia”
There are 12 operating thermal power plants
Ngo Duc Lam, an energy expert from VSEA (Vietnam Sustainable Energy Alliance), has applauded the government’s resolution on developing the Mekong Delta in a sustainable way by restricting coal-fired thermal power.
No more coal-fired power plants will be designed for the Delta, except the 14 plants mentioned in the seventh plan on electricity generation development. Continue reading “Will a carbon tax be imposed on coal-fired thermal power plants?”
|Tây Nam Đá Mài Coal Mine of Việt Nam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin) in northern Quảng Ninh Province. — VNA/VNS Photo Trọng Đạt|
The agreed price, which has not yet been disclosed, has come into effect from September 1, according to the Ministry of Finance. Continue reading “EVN reaches coal agreement”
VietNamNet Bridge – Associate Professor Nguyen Minh Due, chairman of the Viet Nam Energy Science Council speaks to Tuoi tre (Youth) newspaper about the need to develop renewable energy in Viet Nam.
|Associate Professor Nguyen Minh Due|
Following the revised national electricity development plan by 2020, electricity generated from coal-fired thermal power plants still accounts for nearly 50 per cent of the country’s total power, while electricity generated from wind and solar sources only makes up 1-2 per cent. Why is this? Continue reading “Vietnam needs to develop renewable energy”
VietNamNet Bridge – Viet Nam has 20 thermal power plants now and plans to have more than double that by 2050.
Off the cuff, this makes sense. The nation is growing and needs more energy than ever.
However, if we look beyond mere numbers and visualise the social and environmental impacts of 51 coal-powered plants in the country, the rosy picture is blackened considerably, literally and otherwise.
A study published earlier this year by a group of researchers from Havard University and Greenpeace, an international non-governmental environmental organisation based in Amsterdam, cautions that by 2030, Viet Nam and Indonesia will be among the nations worst affected by coal pollution. Continue reading “Black gold and a bleak future”