Eskom aims to sharply reduce its coal-fired power by 2031

SOUTH AFRICA – State-owned power utility Eskom has said it plans to reduce its output of coal-fired power by 8,000 to 12,000 MW through plant closures over the next decade, a cut that amounts to up to 30% of its current capacity. The mothballed Komati power station, brought back to service in the early 2000s to help deal with chronic electricity shortages in Africa’s most advanced economy, will be completely closed by October 2022, Eskom said. Eskom, which is Africa’s biggest greenhouse gas emitter, is pitching a US$10 billion plan…

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Toshiba Corporation to abandon coal-fired power plants

WORLD – Japan’s multinational conglomerate Toshiba, will stop construction of new coal-fired power plants and shift to renewable energy in a bid to reduce greenhouse gas emissions, a spokeswoman revealed. “We still have ongoing projects, but we have decided to withdraw from building new coal-powered plants,” company spokeswoman Yoko Takagi told AFP. Toshiba, which currently has around 10 coal-fired station projects under way worldwide, is a major global player in the power sector. The company will instead increase investment in renewable energy, including parts for offshore wind-power facilities and research…

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Affordable renewable energy is putting US$640bn coal investments at risk, new research shows

GLOBAL – 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 Carbon Tracker Initiative showed has revealed. The report examined the economics of 95% of coal plants which are operating, under construction or planned worldwide. It noted that institutional investors are increasingly withdrawing from fossil fuel companies due to the risk their assets becoming stranded as tougher emissions-cuts targets discourage their use and renewable energy becomes even cheaper. Globally, 499 gigawatts (GW) of new…

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