On the Blogs: Coal Power Risks Grow

first_imgOn the Blogs: Coal Power Risks Grow FacebookTwitterLinkedInEmailPrint分享Hindustan Times:The economics of coal-fired power generation is incredibly vulnerable, much more so than is recognised. Coal is particularly at risk from competition from low cost renewables, volatile commodity prices, growing concerns about air pollution, worsening water availability for cooling, the increasing incidence of heat waves that reduce operating efficiencies and, of course, necessary action to tackle climate change. These factors in combination are driving the structural decline of coal, led by China. According to Wood MacKenzie, coal use in China has dropped by 40% in the last five years.According to Morgan Stanley, solar power in India has recently reached a tipping point, becoming more affordable than coal. Other Asian economies already seem to understand the dynamic of coal being highly risky. For example, South Korea’s newly elected President Moon Jae-In’s is moving to phase out coal and shift into solar and wind. Taiwan is expanding its renewable energy plans whilst reducing its reliance on coal by a third, from 45% to 30% by 2025.Analysts now argue that coal usage in India will peak in the next five to 10 years. India will join China, and other East Asian economies, in halting new coal growth. No new coal plants are set to be commissioned for the coming decade, according to the Central Electricity Authority’s draft plan. And 37GW of old coal could be shut down, while Coal India is set to close 37 mines. This is the right approach and should be futher accelerated, otherwise Indian utilities focused on coal could face significant stranded assets and financial underperformance. This is what happened to European utilities that bet big on coal.While Europe and India are at different stages of development, the European experience shows how investing in coal can go badly wrong. Between 2005 and 2008, European power companies planned to build 65 new coal-fired power plants, with 49 gigawatts (GW) of capacity, but only 12 were actually built. More cancellations are expected.In Germany alone, 20 GW has been cancelled. The economics of existing plants have deteriorated too. For example, in the UK coal use fell by over half in 2016 and the country’s power system now experiences coal-free days for the first time since the 1880s.More: Why Indian power companies must dump coal and bet big on solar, windlast_img read more

United fans call for more goal’s

first_imgSome supporters have been critical of their style of play, and they’ve failed to score in four out of their last seven matches in all competitions.But they can replace Leicester at the top of the Premier League when they play the leaders tomorrow.last_img

Transfer insider: Liverpool and Arsenal rumours assessed plus Chelsea to raid PSG?

first_img PSG midfielder and Chelsea transfer target Adrien Rabiot 1 With a collective sigh at talkSPORT Towers, we are slowly coming to terms with the fact that it is two years until the next major international football tournament.However, thankfully the Premier League will soon be here to keep us entertained. That kicks off on 16 August and the summer transfer window is hotting up nicely, so our man in the know gives his verdict on the latest news…Wilfried Bony – Swansea to LiverpoolLiverpool have made Bony a key transfer target and talks are already well underway to sign him. A fee is yet to be agreed but the Reds are confident of getting their man, with the striker desperate to move to Anfield. (Chances of it happening: 9/10)Adrien Rabiot – PSG to ChelseaRabiot has rejected the chance to sign a new contract at PSG and Chelsea have made a £7million bid for his services. PSG have snubbed the offer but the player wants to move to Stamford Bridge and is now waiting for a new offer to arrive. (7/10)Lars Bender – Bayer Leverkusen to ArsenalArsenal have been chasing Bender for years and interested again this summer. The deal is complicated as he is happy at Leverkusen and they are under no pressure to sell, but if the Gunners made a big bid this could go through. (6/10)Antoine Griezmann – Real Sociedad to LiverpoolGriezmann wants out of Sociedad and he’s a player Liverpool like. A £20million bid being mooted but reports in Spain seem to suggest he’s Real Madrid bound unless Liverpool can pull something amazing out of the bag. Let’s see. (4/10)Keylor Navas – Levante to EvertonEverton were linked with Costa Rica World Cup hero Navas this week and while his agent wants to get him a move, a switch to the Toffees is off the cards. Roberto Martinez will be spending his money elsewhere, with Tim Howard firmly the number one. (1/10)last_img read more