IEA Says Southeast Asia Will Keep Coal Demand High
The International Energy Agency (IEA) says the need for cheap electricity in Southeast Asia will drive global demand for coal for power generation through 2040, even as many countries continue to retire coal-fired plants and cancel projects for new coal facilities.
IEA, which is set to release its World Energy Outlook 2017 on November 14, this week said India and Southeast Asia will account for the majority of the use of coal in the coming years, as those areas’ economies continue to grow and demand for electricity rises.
“Coal maintains a strong foothold in [Southeast Asia’s] projected consumption, not only because it is markedly cheaper than natural gas, but also because coal projects are in many cases easier to pursue as they do not require the capital-intensive infrastructure associated with gas,” the IEA said in a report in advance of the release of the November outlook.
The agency said about 100 GW of new coal-fired power generation capacity is expected to come online in Southeast Asia by 2040, increasing the region’s installed capacity to about 160 GW.…