Coal Plants Boom Worldwide

According to data compiled by the World Resources Institute (WRI), the world is poised to see a boom in the construction of coal-fired power plants. In fact, the organization has identified 1,200 coal-fired plants in various stages of planning across 59 countries.

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It should come as no surprise that about three quarters of the growth in coal-fired plant construction will come from China and India, the world’s fastest growing economies with significant needs for inexpensive baseload power. India currently plans to build 455 new plants, while China plans to build 363. Once complete, the capacity of the new plants will total about 1,400 gigawatts, or about four times the coal-fired capacity of the United States.

In addition to major developing nations such as China and India, smaller developing states such as Guatemala, Cambodia, Morocco, Namibia, Senegal, Sri Lanka, and Uzbekistan are all planning new coal-fired power plants. JP Morgan Chase and Citi represent the two largest financiers of coal-fired power projects, providing more than $30 billion in capital for the new plants.

“The aggressive build-out of coal-fired power, much of which will be fueled by coal mined in the United States, should present an ethical problem for U.S. environmental groups,” explains PACE Executive Director Lance Brown. “The EPA policies these groups support have the net effect of sending coal overseas, where it is more likely to be burned with less stringent emissions controls, or none at all. They are trading good stewardship at home for irresponsibility abroad.”