Chinese banks and investment agencies have committed more than $21 billion (18.5 billion euros) to developing 31 gigawatts (GW) of coal-fired capacity in a dozen countries, and an additional $15 billion is on offer to support projects that would generate 71 GW in 24 nations, for a total of more than 101 GW.
Many of the recipients of China's largesse—Egypt, Nigeria, Kenya, Senegal, Zimbabwe and half a dozen others—currently have little or no coal-fired power, and no coal to fuel future plants.
They will owe on loans on stranded assets.
How about this groundbreaking 2013 Paper in its Conclusions pg 34?
Chinese Renewable Energy Technology Exports: The Role of Policy, Innovation and Markets
Jing Cao and Felix Groba,
The results highlight that importing country per capita income has a significant positive effect on solar PV and WETC imports from China. The growth of Chinese per capita income also has a significant effect on exports. This is in line with the general trade literature showing that trade increases with country income. It also supports the environmental Kuznets curve hypothesis arguing that demand for (and supply of) environmental goods increases with income. Additionally, the area of importing countries, seen as a proxy for economic mass and also for renewable energy potential, has a significant effect.
https://www.diw.de/documents/publikationen/73/diw_01.c.414422.de/dp1263.pdf
I cannot see the basis in the article
for assuming these high efficiency/low pollution coal plants will be stranded? In 10-20 years coal will incredibly cheap for them, as the developed world abandons it. These new power stations will likely last well past 2050.
I am confused how "overseas investments" and "overseas aid" can be morphed into
"largesse" so easily? Is it only because it's
"China" and not Germany, Canada, the UK or the USA doing that investment, aid and development - then it's little suspicious?
Like I cannot point to where Germany, Canada, the UK or the USA or anyone else is Investing and providing Aid for building
101 GW of renewable energy in developing nations? I believe it is happening like this with coal fired plants because there are genuine logical reasons for this, yet the article appears to ignore those completely.
China, the #1 deploying nation of cutting edge renewable & nuclear energy technology in the world today? That China?
China, the #1 builder / exporter of Solar & a major Wind (WETC) to the developed world? That China?
China, the #1 nation for closing the most old high GHG (high SO2) emitting coal fired power plants on earth this century? That China?
Now about that 101 GW number itself. Context matters. We are not speaking about Annapolis, Zurich, Dresden, Miami or Tokyo cities. Right? We're speaking about extremely low GDP per capita under-developed relatively high-population countries that are extremely under-serviced by basic electricity supply to begin with.
There's another critical point about that 101 GW - it's a drop in the bucket globally - almost a irrelevant small fraction of the total. The article is also inaccurate because it has ignored all the new Coal fired power plants being financed and built by Chinese companies
in EUROPE !!!
(I believe) this story is a bit of a beat up - biased handwaving (?) and possibly it's Click Bait.
For a more balanced perspective? Include the following and the bigger picture overall:
- In 2009, there were
1436 coal-powered units at the electrical utilities across the US, with a total nominal capacity of
338 GW[8] (compared to 1024 units at nominal
278 GW in 2000).[9] (wiki)
- The richest nation on earth cannot afford to get by without coal.
- The USA added 60 GW +400 plants of NEW Coal Fired capacity in the first decade this century.
- The nations listed in the article probably added next to none.
- From 2013-2016 China added 42.4 GW of carbon free Hydro power to their network. Add in the 3 Gorges Dam in 2008 brings it to
65 GW of new clean energy.
- The nations in the article added none.
(those numbers are via wiki for ease)Check this site: note those states that export Coal Fired power to other states
https://www.eia.gov/state/index.php See: WV, ND, WY, TX, KY, IL, AL, GA, PN for example. FL runs on Natural Gas. Can't they afford solar or wind?
This China? - In 2015,
global new installed wind power capacity reached
63.01GW, up 22.41% YoY, refreshing new installed wind power capacity records again. China continues to lead the global wind power market with
new installed capacity of 30.75GW in 2015 (~50% of global) and the
first worldwide ranking for six consecutive years.
https://www.prnewswire.com/news-releases/global-and-china-wind-turbine-industry-report-2016-2020-300358792.html Just a little anecdotal background fwiw. Of course building renewable would be better in countries that already had a modern-day functioning power grid, with base-load dispatchable power in place and operating. I think in the west we often take too much for granted when judging what's going on in our poorest developing nations.
If interested, have a skim of this wiki page and see what's it really like there. Note the MW outputs and those surviving on really small diesel generators. The data shocked me when I first saw what the reality was.
https://en.wikipedia.org/wiki/List_of_power_stations_in_AfricaCheers