Japan’s Marubeni Corporation has outlined new business policies for its coal-fired power and renewable energy generation businesses, resulting in the fossil fuel side being halved.
The new initiative by the company is reported to be part of the company’s efforts to address global climate change.
The company is planning to reduce greenhouse gas emissions volume from its power generation portfolio.
Marubeni stated that by 2030, it will cut its 3GW coal-fired power generation capacity in half.
According to policies outlined by the company, Marubeni will no longer enter any new coal-fired power generation operations.
In addition, it is planning to incorporate new technologies to enhance the efficiency of its assets portfolio.
The company also confirmed that it could consider taking on projects that adopt the ‘Best Available Technology’ (BAT), which at present is the ultra-supercritical steam generating technology (USC).
Marubeni also intends to expand the ratio of power generated by renewable energy sources in its own net power supply from 10% to nearly 20% by 2023.
Marubeni also has plans to promote the expansion of the handled volume of renewable energy sources applicable to energy trading.
Marubeni’s SmartestEnergy firm in the UK is involved in purchasing power from small to medium-sized independent generators, and resells on the wholesale market or to retail customers.