ENB Pub Note: Although this story from OilPrice.com suggests it is detrimental to the emerging markets. This could be a great thing for the United States, and if we exported our energy as a service, we could dramatically impact energy to those who do not have access to electricity now. If we used our scrubbers and clean coal technology, it could help lower emissions and the impact on the environment. You can see on the map from the Global Energy Monitor how many plants are located around the world and where they are situated. Turley’s Law is in play. “The more money invested in wind, solar, and hydrogen, the more fossil fuels will be used. “
The Chinese government is still backing new coal power abroad, despite a 2021 pledge to shift focus to wind and solar.
China is still building new coal-powered generation capacity abroad despite a pledge made in 2021 to stop it and focus on transition technology.
According to a new report by climate think tank Global Energy Monitor, China is involved in 88% of new coal power capacity projects in the new BRICS members. [emphasis, links added]
“Chinese firms are backing 7.7 GW of new coal, virtually all found in Indonesia, despite President Xi’s pledge to end support for overseas coal projects,” Global Energy Monitor said.
Yet China is also backing a lot of transition capacity, accounting for about half of the solar power capacity under construction, or 947 MW, as well as close to 90% of wind power capacity, or 601 MW.
The new BRICS members are Indonesia, Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda, Uzbekistan, and Nigeria.
New power generation projects across the new BRICS members are mostly hydrocarbon forms of capacity, the climate think tank also reported, noting that the total oil, gas, and coal capacity under construction across the 10 new members amounts to 25 GW.
Wind and solar capacity under construction, on the other hand, stands at a measly 2.3 GW.
Close to two-thirds of all the new capacity under construction in the new BRICS members, hydrocarbon and alternative, features Chinese state-owned companies, Global Energy Monitor also reported.
“There’s a real risk of sending these countries down the wrong path by investing in coal, gas, and oil,” Global Energy Monitor’s project manager for the think tank’s Global Integrated Power Tracker told Reuters.
Read rest at OilPrice.com
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