“Coal’s competitive advantage is fast evaporating. It cannot compete with renewables on cost, and storage and smart management of the grid have made the need for new baseload redundant. Coal is yesterday’s technology – the only thing new coal has going for it is inertia.”
– Kobad Bhavnagri, the lead author of Bloomberg New Energy Finance’s New Energy Outlook 2017 in Asia-Pacific report.
Posts Tagged "Asia & India"
“We will allow existing coal mines to continue operating, but new mining licenses will not be granted.”
– U Ohn Win, Myanmar’s Minister for Natural Resources and Environmental Conservation, on a decision by the government to stop issuing new coal mining licenses due to the harmful health effects. There are about 560 coal mines in the country.
“We should reduce consumption of fossil fuels, coal in particular. Coal-fired power plants are accused of air pollution and fine-dust emissions.”
– Moon Jae-In, South Korea’s leading presidential candidate, regarding his pledge to reduce coal-fired power plants and phase out nuclear reactors as it strives to be more environment-friendly and low-carbon oriented. South Korea has more than 50 coal-fired power plants that supply about 40 percent of its electricity.
“At present, procuring foreign loans for renewable energy projects is far easier than thermal power projects. A green power generation company also attracts global equity investors.”
– A senior analyst for India’s biggest power company, state-owned NTPC, on increasing renewables and decreasing thermal in its 10-year expansion plan.