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New coal-fired power plant additions fall to 20-year low

New coal-fired electricity capacity added in 2024 dropped to 44 GW, driven mainly by China and India, according to a report released on Thursday.

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Global growth in new coal-fired electricity generation capacity reached its lowest level in two decades in 2024, according to a report released on April 3 by a collective of researchers and non-governmental organisations, including Global Energy Monitor and E3G. The annual increase amounted to 44 gigawatts (GW) last year, down from 72 GW in 2023, and far below the 2015 peak of 107 GW.

More than one-third of the world’s electricity is still generated from coal, despite efforts by several countries to phase out this energy source. The United Kingdom, for example, ended coal-fired electricity generation by shutting down its last plant in 2023. Nevertheless, momentum remains strong in Asia, particularly in China and India, which now account for the majority of new projects. Both countries began construction on more coal-fired plants in 2024 than in any previous year.

Regional concentration of new projects

The report shows that only eight countries initiated new coal plant projects in 2024. Among them, China and India dominate, reinforcing their role in global demand. China alone consumes one-third of the world’s coal and continues to expand its coal sector despite record growth in renewables.

However, the number of newly approved coal power plant permits in China has fallen to a three-year low, suggesting a potential shift in expansion strategy. Elsewhere in Southeast Asia, countries such as Indonesia, Malaysia, and the Philippines have reduced new projects, while Vietnam has committed to exiting coal.

Diverging trends between Asia and the West

The report notes that Japan and South Korea are promoting technologies aimed at decarbonising coal combustion, notably through ammonia co-firing. These methods, according to the report’s authors, are costly and unlikely to deliver the significant emissions reductions required at scale. The document does not assess their long-term economic viability.

In the United States, newly elected President Donald Trump has approved the restart of coal-fired plants. However, the report’s analysts recall that his first term already illustrated the challenges of reversing coal’s decline, primarily due to the ageing infrastructure of the national coal fleet.

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