Asia could attract $250B in coal power investment

(Kallanish Energy, Hammersmith, 5 January 201) With power demand in Southeast Asia expected to grow at roughly 4.6% per year in the next 10-plus years, baseload, low-cost coal-fired generation offers an investment opportunity of $250 billion over the next decade, Wood Mackenzie projects. The challenge though, lies in the financing of such projects, given that institutions, mostly export credit agencies (ECAs) in OECD countries, and European banks, [say they] are reducing their investment support in coal. Instead, they [claim they] will focus on renewables and less-polluting power generation alternatives, Kallanish Energy learns. [However, at the moment, OECD ECAs are funding 12 times as many dollars/euros per year in fossil fuel projects vs renewables.]