China Pledges to End Foreign Coal Financing

• 27 September 2021
• Construction Focus
• 1151 Views

China has pledged to end the financing of coal-fired power plants abroad and turn its support to green energy, according to US consultant Global Energy Monitor (GEM).

Speaking at the UN General Assembly recently, Chinese president Xi Jinping said China would “step up support for other developing countries in developing green and low-carbon energy and will not build new coal-fired power projects abroad”.

Reuters notes that China has been under international pressure to end overseas coal financing as part of its updated package of national climate pledges.

It says the latest pledge will affect low and middle-income countries such as Bangladesh, Zimbabwe, Indonesia, Vietnam, and South Africa, which are relying on cheap coal power to fuel economic growth.

Cambodia already has three existing coal-fired power plants that generate 740 mW of power to the main grid. These power plants are located in Stung Hav district of Sihanoukville. (Read more)

There are three other coal power plant projects are in the stage of construction including a 700 mW by Royal Group, located in Koh Kong province, another 700 mW in Stung Hav invested by Cambodia International Investment Development Group Co Ltd (CIIDG), and a 265 mW operated by Han Seng Coal Mines Co Ltd in Oddor Meanchey province.

The three projects were green-lighted in 2020.

HE Suy Sem, Minister of Mines and Energy, recently said that Cambodia will continue to rely on fossil fuels and coal as power sources, so Cambodia requires investment in low-carbon technologies to apply in investment in the power sector.

• Investment and Funding
• Energy and Environment