The number of coal-fired power plants under development worldwide saw a dramatic drop in 2016, mainly due to shifting policies in Asia, according to a new report released by Greenpeace, the Sierra Club, and CoalSwarm.
Coal cost constitutes 60 to 70 percent of the total generation tariff of coal based power stations and has significant impact on cost of supply of power to consumers. Keeping this in view, a performance audit of fuel management in coal based power stations of NTPC Limited was taken up.
The government is considering capping the amount of coal blocks that a company can hold. The clause is part of the draft coal block allocation guidelines issued for public comments by the coal ministry and would apply to mines other than the 204 blocks that were cancelled by the Supreme Court in October 2014.
China currently has around 900 GW of installed coal-fired power capacity, representing potential emissions of 85 billion tonnes of CO2 if these plants continue to operate at current levels. Meanwhile under the global climate negotiations, China has committed to peaking its CO2 emissions by 2030.
China risks wasting $490 billion on new coal plants that will be unneeded as structural changes to its economy, increased non-coal capacity targets, power sector reforms and carbon pricing slashes coal-fired generation, analysis by the Carbon Tracker Initiative.