Malaysia’s Maybank to stop financing new coal activities
KUALA LUMPUR, May 6 (Reuters) – Malaysia’s Malayan Banking Bhd (Maybank) on Thursday said it will no longer finance new coal activities as part of a five-year strategy that will also see the bank committing 50 billion ringgit ($12 billion) in sustainable financing.
Coal to continue leading power generation in Vietnam over next decade
Coal is set to continue leading power generation in Vietnam over the next decade, says a report. The analysis by data and analytics firm GlobalData shows that coal generation in the Southeast Asian country will reach 177.7 terawatt-hours (TWh) by 2030, providing almost 39% of its total power generation.
Vietnam to cancel coal despite power demand growth
The latest draft of Vietnam’s 8th Power Development Plan (PDP8) shows increased intentions to move away from coal-fired power and toward renewables and natural gas during the next decade, even as the country seeks to keep up with rapid demand growth.
Coal-fired power gains share in Indonesia’s energy mix
The share of coal-fired power in Indonesia’s energy mix increased on the year to 38pc in 2020 from 37.1pc a year earlier, despite the country aiming for a steep reduction by 2025. The world’s top coal exporter is targeting to reduce the share of coal-fired power in its energy mix to 30pc by 2025 while […]
Renewable increase cuts Vietnam coal burn in 1Q
An increase in hydro and renewable output in Vietnam cut the country’s coal burn on the year in the first quarter, despite an increase in overall power generation. Vietnam’s coal burn declined by 12pc on the year to 29.8TWh in January-March — a 1.6mn t drop to 11.2mn t of NAR 5,700 kcal/kg-equivalent coal burn […]
Philippines lifts nine-year ban on new mines to boost revenues
Philippine President Rodrigo Duterte has lifted a moratorium on new mineral agreements imposed in 2012, reopening the door to investments in a move that will boost state coffers but has dismayed environmental activists. The Philippines, the top supplier of nickel ore to China and a major producer of copper and gold, imposed the moratorium while […]
Welltec bags well intervention deal with Petronas
Danish offshore energy technology firm Welltec has won an exclusive three-year contract from Malaysian energy major Petronas. Under the agreement, Welltec will become the sole provider of downhole conveyance and powered mechanical services in both East and West regions of Malaysia. “It’s a great team effort that has led to the award of this exclusive […]
Indonesian coal-fired capacity to rise by 14-16GW: PLN
Coal is expected to remain the dominant power source in Indonesia’s energy mix this decade, according to a report by state-controlled utility PLN, which expects 14-16GW of generation capacity to come on line by 2030. This will account for up to 36.6pc of proposed total capacity additions of 40.9GW, which also includes power plants being […]
