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September 27, 2021

Nations launch compact to cancel new coal power projects

Countries joining the scheme will have to stop approving the construction of coal-fired power plants by the end of the year.

By Umesh Ellichipuram

A group of countries, including the UK, Chile, Sri Lanka, Denmark, France, Germany and Montenegro, has announced an initiative to encourage other nations to halt their construction of coal-fired power plants.

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Delve into the renewable energy prospects for Morocco

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The No New Coal Power Compact aims to keep the Paris Climate Accord’s 1.5°C global warming target ‘within reach’ and achieve the seventh Sustainable Development Goal of providing affordable and clean energy.

Countries joining the scheme will need to stop approving and building unabated coal-fired power generation projects by the end of the year.

The seven founding nations are urging all other governments to join the No New Coal Power Compact ahead of the UN Climate Summit COP26 to help deliver on the summit’s goal to ‘consign coal power to history’.

COP26 president-designate and former UK Business Secretary Alok Sharma said: “I am delighted that the UK is partnering with a diverse group of countries that are showing bold leadership to cancel coal through the No New Coal Power Compact, demonstrating the positive impact that countries working closely together can have in generating climate action.

“The cost of clean renewable technologies continues to fall, making coal expensive and uncompetitive.

“I call on more countries to come forward and sign up to this compact ahead of COP26, and play their part to limit global warming and keep 1.5°C alive.”

Countries that have so far cancelled their coal projects include Denmark, France, Germany, Montenegro and the UK.

These countries are currently focused on expediting the retirement of their remaining coal power generation.

Danish Climate, Energy and Utilities Minister Dan Jørgensen said: “This energy compact is an important step on the way for a complete phase-out of coal power and consigning coal power to history at COP26.

“I encourage all governments to join this very important initiative.”

Last July, the Japanese Government reportedly planned to stop offering financial support for the construction of overseas coal-fired power plants after facing criticism over its support for fossil fuel.

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Free Report
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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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