Nearly $640 bln coal investments undercut by cheap renewables - research

13/03/2020 09:43 Renewable

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Nearly $640 billion of investment in coal power capacity worldwide is at risk because it is cheaper to generate electricity from new renewables, research by think tank Carbon Tracker Initiative showed on Thursday.

Institutional investors are increasingly withdrawing from fossil fuel companies due to the risk their assets will become stranded as tougher emissions-cuts targets discourage their use and renewable energy becomes even cheaper.

 

The report examined the economics of 95% of coal plants which are operating, under construction or planned worldwide.

 

Globally, 499 gigawatts (GW) of new coal power capacity is planned or under construction with an investment cost of $638 billion.

Source: reuters.com

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EDF submits application to build 3.2 GW Sizewell C nuclear plant in UK

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