Japanese turn away from coal gathers steam

first_imgJapanese utilities are turning away from new coal-fired power projects in the country amid tighter environmental regulations and increasing demand for greener energy from their key customers. More: Japanese utilities turn away from coal plans amid green energy boom These moves come as renewable energy is on the rise in Japan and elsewhere, and as the government brings in stricter regulations on new coal-fired power plants. They also come as some investors around the world have been pressuring companies to divest coal-related assets and pushing banks to stop financing such projects. Osaka Gas last week pulled out of plans to build a 1.2 gigawatt coal-fired project, which followed the cancellation in January of a 2 GW coal power station by Kyushu Electric Power, Tokyo Gas and Idemitsu Kosan. In December, Chugoku Electric Power and JFE Steel scrapped plans to build a 1.07 GW station. “Utilities are increasingly feeling that it may not make economic sense to build a new large coal power station when electricity demand is falling and operation costs may rise due to carbon taxes or other costs related to tighter regulations,” said Shin Furuno, head of the 350.org Japan environmental group.center_img Of Japan’s plans in 2012 to build 50 new coal-fired power units with total capacity of 23.23 GW, 13 units, or 7.03 GW, have been scrapped since 2017, according to data from environment group Kiko Network. Japanese turn away from coal gathers steam FacebookTwitterLinkedInEmailPrint分享Reuters:last_img

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