A new report by the Central Electricity Authority (CEA) of India says coal will account for half the country’s energy demand in 2030, even though the share of non-fossil fuels is expected to swell to 65% of its installed power capacity. The assessment draws upon the mismatch between India’s peak power demand and the peak power output of solar and wind power stations, which — in the absence of energy storage — prolongs the necessity to use coal power.
India’s coal demand has ballooned to nearly 1 billion tonnes per annum over higher demand from utilities, but CEA’s latest report is silent on what the trend means for the country target of shrinking its emissions intensity by 30-35% (over 2005 levels) by 2030.
OPEC secretary calls “misleading” climate science greatest threat to industry
The Secretary-General of the OPEC (Organisation of Petroleum Exporting Countries) has sharply criticised “misleading” climate science for affecting investments in the oil & gas sector and portraying it as the cause of climate change.
Mohammed Barkindo was also critical of how global calls for slashing the use of fossil fuels are affecting corporate decisions and investments in the sector, and instead stated that oil and gas were in fact “part of the solution” to fighting climate change. Nevertheless, the vast majority of climate studies detail how the fuels are driving global rises in temperatures and worsening the frequency of extreme weather events.
Europe’s 2nd largest steelmaker Thyssenkrupp targets 30% less CO2 emissions by 2030
Germany’s largest and Europe’s second largest steelmaker, Thyseenkrupp, has announced it will slash its CO2 emissions by 30% by 2030 and aim to go carbon-neutral by 2050. Thyssenkrupp releases 20 million tonnes of CO2 every year, and is also targeting a 16% reduction in CO2 emissions from its other products by 2030.
The move is quite significant as the country itself is divided over how soon to exit coal — which is the primary fuel for steelmakers and aluminium smelters.
China: Spiralling debt forces Datang group subsidiary into bankruptcy
A 660MW thermal power plant – owned largely by one of China’s largest coal power developers, Datang — has filed for bankruptcy and liquidation after defaulting on $2.39million of debt. The plant’s closure may be indicative of the stress Chinese coal plants face under eroding investments and the expanding share of renewables — so much so that more than 50% of them are reported to be running on losses. Paradoxically, China’s coal consumption has been on the rise. And 1 billion tonnes of new coal mining capacity has been approved for the nation, which will add to the 3.5 billion tonnes of coal it extracted in 2018.