Energy analysts forecast ‘the end of coal’ in Asia as Japanese investors back renewables

This article from The Guardian discusses forecasts from energy analysts that ‘the end of coal’ in Asia is near, as Japanese investors back renewables. Australia’s largest export customer for thermal coal is scrapping plans to build power plants.

Major Japanese investors, including those most indebted to coal, are seeking to back large-scale renewables projects across Asia, marking a “monumental” shift that energy market analysts say is “the start of the end for thermal coal”.

At the same time, Japanese banks and trading houses are walking away from coal investments, selling out of Australian mines and scrapping plans to build coal-fired power.

Japan is Australia’s largest export customer for thermal coal. Of the proposed pipeline of coal power projects in Japan in 2015, figures from the Global Coal Plant tracker show three-quarters are now unlikely to proceed.

Comments are closed.